AusQuest (ASX:AQD) has planned to resume drilling at its Coober Pedy Iron‑Oxide Copper‑Gold Project in South Australia in Q3 2026.
The company drilled seven holes in total, but only three of the 15 planned holes successfully intersected the targeted basement rocks.
An extensive unconsolidated quartz sand unit overlying the basement proved challenging to penetrate using reverse circulation drilling.
AusQuest is bringing in a second contractor to use mud rotary drilling, which will case off the problematic sand unit before completing the remaining holes to approximately 350m with reverse circulation or diamond drilling.
Two drill holes at the Bulldog prospect, approximately 400m from historical Vale drill hole GAWRC001, successfully intersected gneissic rocks with pink granitic dykes and chlorite alteration containing up to 5% sulphides, mainly pyrite.
The Coober Pedy Project is located at the northern end of the Olympic Dam Iron‑Oxide Copper‑Gold Province in South Australia and is subject to a strategic alliance agreement with a wholly owned subsidiary of South32 (ASX:S32).
Managing Director Graeme Drew says Coober Pedy remains ‘a highly prospective target area’ despite the drilling challenges.
“We look forward to receiving the results from the first three holes in the coming weeks and completing the planned drilling program a little later this year,” Drew notes.
Assay results from the completed drill holes are expected by the end of July 2026. The company plans to complete at least another 10 drill holes to test priority target areas defined by magnetics, gravity, and induced polarisation surveys.
AusQuest holds one granted exploration licence (EL 6798) covering the project area, located approximately 10km southwest of Coober Pedy.
Write to JC Villarba at Mining.com.au
Images: AusQuest
