AusQuest (ASX:AQD) announced assay results from its Stage 3 reverse circulation drilling program at the 100%-owned Cangallo Porphyry Copper-Gold Project.
The latest findings have defined a substantial mineralised corridor extending over 1,500m along strike, with widths up to 500m and depths exceeding 400m.
Results from hole CANRC034 were particularly notable, intersecting 164m at 0.33% copper and 0.07g/t gold, including higher-grade zones of 0.42% copper.
Further drilling across the site has confirmed the system's ability to produce high-grade intervals, with several intercepts exceeding 0.5% copper near the surface.
Geological data indicates that copper and gold grades are increasing towards the southern section, suggesting the system remains open and holds significant expansion potential.
The mineralisation consists of copper oxides from the surface to roughly 250m, transitioning into mixed oxides and secondary sulphides.
A 5,000-metre RC drill program is scheduled to commence in mid-March, followed by a 5,000-metre diamond drill program in April.
The upcoming phases will target higher-grade depth extensions of the copper sulphide mineralisation.
At the time of reporting, AusQuest's share price was $0.44.