Consensus community valuation
If we are successful, this could herald an exciting new development for the Fraser Province, as it may open up significant new exploration opportunities in an area where we have secured a large tenement holding of ~850km².
- ~4,800m diamond drilling program set to commence in mid-April • Eight priority gravity/magnetic targets to be tested • Balladonia forms part of the Strategic Alliance Agreement with South32
- Balladonia Drilling to Commence
- Price Sensitive: Yes
Initial diamond drilling at the Tea Tree prospect (ASX release 30 June 2022), confirmed the presence of highly prospective stratigraphy (thin banded iron formations (BIFs) – garnetiferous quartzites), alteration (potassic, iron and manganese) and anomalous lead, zinc and cadmium values, similar to the signatures associated with the base metal mineralisation found at Cannington and Broken Hill. A drill program consisting of 13 drill-holes for a total of ~4,800m is planned with the potential for additional drilling subject to results from the initial drill-holes.
All approvals have been obtained to enable drilling to commence at the Tea Tree prospect. The program is expected to take 2-3 months to complete, with final assays due 4-6 weeks after completion of the drilling. The Balladonia Project is subject to the Strategic Alliance Agreement (SAA) with a whollyowned subsidiary of South32 Limited. AusQuest’s Managing Director, Graeme Drew, said: “The imminent commencement of this drill program is an exciting time for the Company as we prepare to test a series of priority targets outlined at Balladonia.
This follows extensive consultations with our strategic partner that supported our interpretation of sediments and alteration with strong similarities to those found in the world-class Cloncurry Belt in NW Queensland, and in the Broken Hill area of NSW. “If we are successful, this could herald an exciting new development for the Fraser Province, as it may open up significant new exploration opportunities in an area where we have secured a large tenement holding of ~850km².”
“We look forward to advising shareholders once drilling has commenced and keeping the market informed of our progress as this exciting program unfolds over the coming months.” Graeme Drew Managing Director
Multiple copper-lead-zinc-silver and nickel targets to be tested
- Summary: Back to Back Drilling in WA
- Price Sensitive: Yes
Premium-grade iron concentrate (>70% Fe) produced by beneficiation test-work • Very low levels of impurities recorded in all samples processed • Further exploration to determine scale of mineralised system(s) being planned
The Morrisey Project is located within the Narryer Terrane, approximately 500km north of Perth in WA and is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). 
- Release Date: 05/10/22 09:11
- Price Sensitive: Yes
The Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32) was extended for a further 2-year period (up to 31 December 2023) to continue the development of high-potential exploration opportunities in Australia and Peru.
Report: Ethan Frome (markitdigital.com)
Nickel and Copper - 500km north of Perth within the Narryer Terrane
The Morrisey Project is located ~500km north of Perth within the Narryer Terrane, which forms the north-western margin of the Yilgarn Craton. The Project consists of four granted Exploration Licences (ELs) covering an area of ~1,200km² parallel to the Yilgarn Craton boundary. The area became the focus of industry attention following the discovery by Chalice Mining of the Julimar nickel-copper-PGE deposit north of Perth, which highlighted the untested nickelcopper-PGE potential along the margin of the Western Yilgarn Craton. AusQuest’s Managing Director, Graeme Drew, said the Company was looking forward to the opportunity to test the Morrisey prospects. “The occurrence of conductive targets associated with iron-rich mafic/ultramafic rocks and scattered nickel and copper anomalism in soils is a very encouraging sign,” he said. “While this is a relatively small drilling program to start with, we are hopeful that the initial results will justify a much larger drilling program in the not too distant future.” “We look forward to reporting the commencement of drilling and results as they come to hand,” he added.
AQD all about the Cu. With S32 .. Electrify / Power / Technology
AusQuest Limited | Groundbreaking Opportunity
The Company is currently exploring within Australia and Peru and holds in excess of 5,000 km² of exploration title (granted tenements and tenement applications).
The Company has a Strategic Alliance Agreement with South32 (SAA) that has been active for the last five years, with South32 providing funds to advance selected early stage prospects to the drilling stage with follow-up drilling under agreed joint venture terms. During 2021 the Company received approximately A$6.5M for exploration programs in both Peru and Australia with an agreed administration fee (15%) helping to fund ongoing project generation.
The Company explores for a range of commodities and mineralisation styles including magmatic nickel-copper-platinum group element sulphides, large porphyry copper and iron oxide-copper-gold, and stratabound base metal deposits. Most of the projects are “greenfields” in nature although initial drilling at the Cerro de Fierro and Parcoy projects in southern Peru and drilling at the Hamilton Prospect in north-west Queensland has confirmed potential for copper (+/- gold) mineralisation in each of these areas.
The Company explores for a range of commodities and mineralisation styles including magmatic nickel-copper-platinum group element sulphides, large porphyry copper and iron oxide-copper-gold, and stratabound base metal deposits. Most of the projects are “greenfields” in nature although initial drilling at the Cerro de Fierro project in southern Peru has confirmed potential for an Iron-Oxide Copper-Gold (IOCG) mineralisation.
Still on the Cu topic ..."but at a tangent to it"
Noted:
Chala metals not listed on the ASX yet.
Iron & Copper Projects - Chala Metals - was formed for the principal purpose of exploration and development of the Achatayhua Project in Peru. The project is situated approximately 25km inland from the southern port city of Chala in Southern Peru, at an elevation of approximately 3900M. By road it is approximately 65km from the coast.