ausquest shares leap 80% in a week

Friday, May 09, 2014 by Proactive Investors

AusQuest (ASX: AQD) has attracted an ASX price and volume query after its shares jumped from $0.01 on May 1st to $0.018 yesterday.

In its response, AusQuest noted the recommencement of drilling at its Dundas nickel-copper project in the Fraser Range.

Diamond drilling is now underway at the Lambda prospect, where a second drill-hole has been sited to test the deeper of two previously modelled electromagnetic conductors.

Two of the seven planned holes were completed prior to the Christmas break, comprising initial drill-holes at the Omega and Lambda prospects, with assays pending.

Drilling at the Alpha and Beta prospects will also be undertaken as part of the current program, expected to complete in two weeks.

All assay results are expected to be available within three weeks of completing this program.

AusQuest also commented on the expectation of drill permits for its Peruvian copper-gold prospects, and increased exploration funding at its gold properties in Burkina Faso.

Shares in the company last traded at $0.017, and is capitalised at $4.5 million.


http://www.proactiveinvestors.com.au/companies/news/54843/ausquest-shares-leap-80-in-a-week-54843.html