AusQuest Limited intersects sulphide alteration at Dundas in Fraser Range, 80kms from Nova Wednesday, December 18, 2013 by Proactive Investors
AusQuest has intersected sulphide alteration at Dundas in the Fraser Range, Western Australia. AusQuest Limited (ASX: AQD) has completed two of the seven planned diamond drillholes at its Dundas Project, located 80 kilometres south of Sirius Resource's (ASX: SIR) Nova and Bollinger nickel-copper deposits in the Fraser Range, Western Australia.
At the Lambda prospect, the first hole intersected zones of siliceous alteration associated with sulphide mineralisation, suggesting possible proximity to nearby mineralisation.
The upper alteration zone, which occurs at 220 metres down-hole, contains a narrow zone of coarse grained massive and heavily disseminated sulphides, which correlates the modelled position of the upper conductor.
The lower zone, located at 310 metres down-hole, occurs close to the modelled position of the deeper and larger conductor but near the edge of the predicted body.
Importantly, this hole did not intersect the source of the deeper electromagnetic response.
Drilling of a further five holes will resume on 6 January 2014 following a short break for the Christmas/New Year period.
The 2,000m program has been designed to test four high-priority targets – Alpha, Beta, Omega and Lambda – which have been defined by electro-magnetic surveys and soil geochemistry.
At the Omega prospect, drilling showed the sulphide zone to be shallower and steeper dipping than predicted, suggesting the possibility of a secondary target at depth.
Down-hole electromagnetic surveys are currently underway to test for off-hole conductors, and further drilling at Omega will depend on the results of these surveys.
Selected samples have been collected from both drill-holes and are being sent to Perth for analysis, with assay results expected in January.
AQD Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
