AusQuest targets copper-gold at Coober Pedy
AusQuest (ASX:AQD) formalised its exploration strategy within South Australia's highly prospective Gawler Craton, releasing a comprehensive location plan for its 100%-owned Coober Pedy Project.
The project, which operates under a strategic alliance agreement with global mining giant South32 (ASX:S32), is positioned directly within the world-class Olympic Dam Iron Oxide Copper-Gold province.
Geological mapping highlights that the exploration lease sits approximately 15km southwest of the Coober Pedy township and 100 kilometres northwest of the prominent Prominent Hill copper-gold deposit.
The newly unveiled regional bedrock geology map identifies critical structural targets along the Elizabeth Creek Fault zone, which intersects key lithologies including the felsic and mafic Hiltaba Suite, Gawler Range Volcanics, and ancient Archaean basement rocks.
The geological formations are highly sought after by explorers, as they are considered essential ingredients for hosting large-scale IOCG-style mineralisation.
AusQuest completed an extensive MIMDAS induced polarisation survey to pinpoint deep subsurface anomalies.
Armed with this fresh geophysical data, the company has secured regulatory approvals from the Department for Energy and Mining to commence a targeted reverse circulation drilling programme.
The upcoming campaign is designed to penetrate the region's sedimentary cover and directly test four high-priority magnetic and gravity anomalies.
