New Risk • Mar 16
New major risk - Revenue and earnings growth Earnings have declined by 6.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.3% per year over the past 5 years. Revenue is less than US$1m (AU$548k revenue, or US$383k). Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (AU$71.6m market cap, or US$50.0m). Reported Earnings • Mar 16
First half 2026 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2025) First half 2026 results: AU$0.001 loss per share (in line with 1H 2025). Net loss: AU$1.39m (loss widened 207% from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Recent Insider Transactions • Feb 13
Non-Executive Director recently bought AU$1m worth of stock On the 12th of February, Christopher Ellis bought around 21m shares on-market at roughly AU$0.047 per share. This transaction amounted to 7.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$1.1m more in shares than they have sold in the last 12 months. Tillkännagivande • Feb 13
AusQuest Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. AusQuest Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 189,787,234
Price\Range: AUD 0.047
Discount Per Security: AUD 0.00282
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,978,724
Price\Range: AUD 0.047
Transaction Features: Subsequent Direct Listing New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (AU$495k revenue, or US$351k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$99.4m market cap, or US$70.5m). New Risk • Dec 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 42% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (42% increase in shares outstanding). Revenue is less than US$1m (AU$495k revenue, or US$331k). Minor Risk Market cap is less than US$100m (AU$80.0m market cap, or US$53.6m). Tillkännagivande • Dec 05
AusQuest Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million. AusQuest Limited has filed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 189,787,234
Price\Range: AUD 0.047
Discount Per Security: AUD 0.00282
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,978,724
Price\Range: AUD 0.047
Transaction Features: Subsequent Direct Listing Tillkännagivande • Oct 21
AusQuest Limited, Annual General Meeting, Nov 18, 2025 AusQuest Limited, Annual General Meeting, Nov 18, 2025. Location: at the celtic club perth, 48 ord street, wa 6005, west perth Australia Reported Earnings • Sep 23
Full year 2025 earnings released: AU$0.001 loss per share (vs AU$0 in FY 2024) Full year 2025 results: AU$0.001 loss per share (further deteriorated from AU$0 in FY 2024). Net loss: AU$1.61m (down AU$1.87m from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 15
First half 2025 earnings released: AU$0.001 loss per share (vs AU$0.001 loss in 1H 2024) First half 2025 results: AU$0.001 loss per share (in line with 1H 2024). Net loss: AU$454.1k (loss narrowed 43% from 1H 2024). Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. New Risk • Feb 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (68% average weekly change). High level of non-cash earnings (100% accrual ratio). Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m (AU$202k revenue, or US$127k). Minor Risk Market cap is less than US$100m (AU$49.7m market cap, or US$31.2m). Tillkännagivande • Dec 11
AusQuest Limited has completed a Follow-on Equity Offering in the amount of AUD 2.430284 million. AusQuest Limited has completed a Follow-on Equity Offering in the amount of AUD 2.430284 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 228,785,477
Price\Range: AUD 0.008
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: AUD 0.008
Discount Per Security: AUD 0.00048
Security Features: Attached Options
Transaction Features: Rights Offering New Risk • Nov 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). High level of non-cash earnings (100% accrual ratio). Revenue is less than US$1m (AU$202k revenue, or US$131k). Market cap is less than US$10m (AU$11.6m market cap, or US$7.53m). Minor Risk Shareholders have been diluted in the past year (28% increase in shares outstanding). New Risk • Nov 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (100% accrual ratio). Revenue is less than US$1m (AU$202k revenue, or US$132k). Market cap is less than US$10m (AU$9.49m market cap, or US$6.21m). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Shareholders have been diluted in the past year (28% increase in shares outstanding). Tillkännagivande • Oct 14
AusQuest Limited, Annual General Meeting, Nov 13, 2024 AusQuest Limited, Annual General Meeting, Nov 13, 2024. Location: at the heritage room, south of perth yacht club, applecross, western australia, Australia Tillkännagivande • Oct 09
AusQuest Limited has filed a Follow-on Equity Offering in the amount of AUD 2.643678 million. AusQuest Limited has filed a Follow-on Equity Offering in the amount of AUD 2.643678 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 330,459,690
Price\Range: AUD 0.008
Security Features: Attached Options
Transaction Features: Rights Offering Reported Earnings • Sep 18
Full year 2024 earnings released: EPS: AU$0 (vs AU$0 in FY 2023) Full year 2024 results: EPS: AU$0 (in line with FY 2023). Net income: AU$256.7k (down 29% from FY 2023). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 14
First half 2024 earnings released: AU$0.001 loss per share (vs AU$0 in 1H 2023) First half 2024 results: AU$0.001 loss per share (further deteriorated from AU$0 in 1H 2023). Net loss: AU$798.2k (loss widened AU$755.6k from 1H 2023). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. New Risk • Mar 09
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.2m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m (AU$552k revenue, or US$365k). Market cap is less than US$10m (AU$9.08m market cap, or US$6.01m). Tillkännagivande • Oct 18
AusQuest Limited, Annual General Meeting, Nov 21, 2023 AusQuest Limited, Annual General Meeting, Nov 21, 2023, at 10:00 W. Australia Standard Time. Location: Ward Room, South of Perth Yacht Club, Applecross Western Australia Australia Agenda: To receive and consider the financial report of the Company together with the reports of the directors and the auditor for the financial year ended 30 June 2023; to consider the Adoption of the Remuneration Report; to consider the Re-election of Mr Christopher Ellis as a Director; to consider the Approval of Equity Incentive Plan; to consider the Issue of Options to Mr Greg Hancock; and to discuss other matters. Reported Earnings • Sep 20
Full year 2023 earnings released: EPS: AU$0 (vs AU$0.002 loss in FY 2022) Full year 2023 results: EPS: AU$0 (improved from AU$0.002 loss in FY 2022). Revenue: AU$1.12m (up 73% from FY 2022). Net income: AU$362.0k (up AU$1.82m from FY 2022). Profit margin: 32% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. New Risk • Jul 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$9.0m free cash flow). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m (AU$984k revenue, or US$663k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$14.9m market cap, or US$10.0m). Reported Earnings • Mar 17
First half 2023 earnings released: EPS: AU$0 (vs AU$0.001 loss in 1H 2022) First half 2023 results: EPS: AU$0 (improved from AU$0.001 loss in 1H 2022). Revenue: AU$607.4k (up 147% from 1H 2022). Net loss: AU$42.6k (loss narrowed 94% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jan 31
AusQuest Limited Announces Major Drilling Program Within the Balladonia Base Metal Project in Fraser Range Region of Western Australia AusQuest Limited announced that a major drilling program to test eight Broken Hill Type targets within the Balladonia Base Metal Project in the Fraser Range region of Western Australia, has been agreed under the Strategic Alliance Agreement with a wholly-owned subsidiary of South32 Limited. Drill targets have been defined by a combination of detailed gravity and magnetic surveys which have outlined strong anomalies indicative of potential `lode packages' and possible base metal mineralisation similar to that found within the Cloncurry Belt of NW Queensland and in the Broken Hill area of NSW. Initial diamond drilling at the Tea Tree prospect, which was designed to determine the geology responsible for gravity and magnetic anomalies in the area, confirmed the presence of highly prospective stratigraphy (thin banded iron formations, alteration and anomalous lead, zinc and cadmium values, similar to signatures associated with base metal mineralisation found at Cannington and possibly Broken Hill. A minimum drill program consisting of 13 drill holes for a total of 4,800m is planned with the potential for additional drilling pending results from the initial drill-holes. Drilling is expected to commence in late March 2023 once all necessary approvals have been obtained, and will take several months to complete. Tillkännagivande • Jan 28
AusQuest Limited Reports Results from Reverse Circulation Drilling Program AusQuest Limited reported results from the Reverse Circulation drilling program completed towards the end of last year at its Pirata Copper Project in Southern Peru, under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). The drilling program, comprising 21 holes for a total of 6,971m, was designed to test five porphyry and/or manto copper targets located within a major east-west structural corridor which is considered to be a priority target zone within the Coastal Belt of Peru and Chile for major copper deposits. AusQuest's Managing Director, Graeme Drew, said that while the initial drilling had not intersected a mineralised porphyry, the Company was very encouraged by the results, with future work to be discussed with South32 in the coming weeks. Results from three of the five drilled targets indicate that the basal section of the lithocap has been intersected at each location with indications that mineralised porphyry systems are located in close proximity to, but off-set from, the current drill-holes. At Target 1 (where four drill-holes were completed), anomalous pathfinder elements including molybdenum (up to 21.3ppm Mo) and tellurium (up to 10.2ppmTe), as well as the presence of high temperature clay minerals (pyrophyllite) and white mica (sericite) indicate proximity to a porphyry source to the east of drill-hole PIRRC08 and to a lesser extent drill- hole PIRRC07. Thick pyrophyllite (+100m) within hole PIRRC08 suggests it is the closest drill-hole to the causative porphyry. Narrow zones of elevated copper (up to 0.43% Cu) within sericite alteration suggest the potential for stronger copper mineralisation within the porphyry host, once it is located. At Target 2 (five drill-holes), the three northern drill-holes (PIRRC002, 03, & 04) intersected a relatively flat northerly dipping alteration zone, sub-parallel to an underlying lithological contact between intrusive monzonites and overlying volcanics. Anomalous pathfinder elements (Mo: up to 27.5ppm, Bi: up to 12.7ppm, and Te: up to 13.8ppm) and the presence of pyrophyllite (>30m) and white mica define alteration zones which again support the presence of a relatively close causative porphyry, probably to the north-east of current drill- holes. Broad zones of elevated gold in PIRRC01 (90m @ 0.15g/t Au from 252m, including 2m @ 2.7g/t Au), and PIRRC03 (34m @ 0.52g/t Au from 272m, including 4m @ 2.2g/t Au) plus narrow zones (2 to 4m) of anomalous copper (up to 0.59% Cu) associated with potassic alteration within the underlying intrusive rocks, provide further evidence of the potential for base and/or precious metals to be found within the porphyry systems being tested. At Target 4, seven drill-holes on widely spaced drill sections (500m to 1000m apart) were completed to drill across magnetic targets associated with sparce outcrops of advanced argillic alteration (lithocap) containing occasional anomalous copper values (>500ppmCu). This target covers a large area (approx. 2km x 1km) with poor outcrop making geological correlations difficult. Thick lithocap (60m to +160m) as defined by the presence of pyrophyllite and white micas was intersected in three of the drill-holes (PIRRC010, 012, and 015) with the highest temperature micas occurring in drill-holes PIRRC010 and PIRRC012 suggesting they are closest to the causative porphyry. Highly anomalous pathfinder elements including Mo (up to 37ppm), Bi (up to 16ppm) and Te (up to 15ppm) plus patches of copper sulphide mineralisation (narrow intercepts (2m) of up to 0.39% Cu) intersected within alteration underlying the lithocap, support the concept of a mineralised porphyry system close-by, at relatively shallow depths. Correlation with ground magnetic data highlights the low magnetic areas (possibly due to alteration) as potential targets to be considered for future drilling at this prospect. Drill results from Target 6 (two drill-holes) and in-fill drilling at the Cerro de Fierro South prospect (two drill-holes) failed to provide significant encouragement to continue exploring in these areas. Future work (including drilling) at the Pirata prospects is being discussed with South32 and will be considered under the SAA over the coming weeks. Tillkännagivande • Jan 24
AusQuest Limited Upgrades Magnetite Potential at its Morrissey Project in Western Australia AusQuest Limited announced that it has upgraded the recently identified magnetite potential at its Morrissey Project in Western Australia after receiving highly encouraging results from beneficiation test work (Davis Tube Recovery (DTR)) on magnetite-rich iron formations intersected by earlier Reverse Circulation (RC) drilling. The DTR test work yielded iron (Fe) concentrate values in excess of 70% Fe, a significant result which elevates this project as a significant new opportunity for the Company. Six composite samples (~10m thick) submitted for testing confirmed that the magnetite ironstone intersected at both the Waterfall and Sandfly prospects can be beneficiated using simple magnetic separation to produce a high-grade iron concentrate (+70% Fe) at a relatively coarse grind size (95% passing 75 microns). At Waterfall, four composite samples from 102m to 144m down-hole (MYRC001) yielded 42 metres at an average DTR recovery of 40.8% and a concentrate grade of 71.3% Fe, 1.4% SiO2 and 0.08% Al2O3 whilst at Sandfly, two composite samples from 82m to 100m (MYRC002) yielded 18 metres at an average DTR recovery of 41.5% and a concentrate grade of 71.3% Fe, 0.8% SiO2 and 0.29% Al2O3. No deleterious element concentrations were recorded in any of the six samples submitted. The initial RC drilling program (three holes) was designed to test for base metal mineralisation but discovered magnetite iron formations at both the Waterfall and Sandfly prospects. A significant untested strike length is apparent at both prospects, with multiple untested targets evident in the regional magnetic data that are now considered priority targets for additional magnetite mineralisation. Specific gravity measurements on RC drill samples indicated a high density (SG 3.4) for the magnetite mineralisation, suggesting that it should produce distinct gravity anomalies enabling magnetic targets to be prioritised ahead of future drilling. 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). Recent Insider Transactions • Dec 07
Non-Executive Director recently bought AU$164k worth of stock On the 30th of November, Christopher Ellis bought around 9m shares on-market at roughly AU$0.019 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Tillkännagivande • Nov 18
AusQuest Limited Provides Drilling Update from Hamilton Copper Project AusQuest Limited advised that it has completed diamond drilling to test the previously identified down-hole electromagnetic (DHEM) anomaly at the Hamilton North prospect, part of the Hamilton Copper-Gold Project in North-West Queensland. Previous drilling at this prospect returned highly anomalous copper values within a mineralised banded iron formation (BIF) sequence in several drill-holes, highlighting the potential for copper mineralization. Drill-hole HMDD019, which was completed to a depth of 510m, intersected a thick sequence(~80m) of banded iron formation (BIF) with strong iron alteration that coincides with thelocation of the modelled DHEM target. High magnetic susceptibility (>1.0 SI units) andspecific gravity (>3.4) measurements within the BIF sequence explain the magnetic andgravity responses that are central to this prospect.Thin sulphide bands (pyrrhotite/pyrite) within the BIF, along with the high magnetite content,were found to be the likely cause of the off-hole EM response that was targeted by this drillprogram.Anomalous copper values (up to 1,500ppm Cu) along with elevated cobalt (up to 480ppmCo), tin (up to 5.8ppm Sn) and selenium (up to 12ppm Se) support the presence of amineralising system in the area, but no economic mineralisation was intersected. Compilation of data from all four drill-holes at Hamilton North is in progress to identifypossible vectors to better grade copper mineralisation.Structural measurements on the core indicate that the BIF has a consistent dip to the east-south-east, suggesting a relatively simple structural setting, although geophysical data mayindicate otherwise. The discrete nature of the magnetic and gravity responses over theHamilton North prospect was thought to reflect a potential structural thickening of the BIFsequence, which may still be the case.AusQuest's Managing Director, Graeme Drew, said the potential for higher copper grades atHamilton remained a real possibility, even though hole HMDD019 had not intersectedeconomic mineralisation. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Chris Ellis was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Tillkännagivande • Oct 22
AusQuest Limited, Annual General Meeting, Nov 22, 2022 AusQuest Limited, Annual General Meeting, Nov 22, 2022, at 10:00 W. Australia Standard Time. Location: the Ward Room, South of Perth Yacht Club, Applecross Western Australia Australia Agenda: To receive and consider the financial report of the Company together with the reports of the directors and the auditor for the financial year ended 30 June 2022; to adopt the Remuneration Report; to re-elect Mr Greg Hancock as a Director and to approve 10% Placement Facility. Tillkännagivande • Oct 20
AusQuest Limited Announces Initial Drilling Identifies Potential Ni-Cu-PGE Host Rocks at the Morrisey Project, WA AusQuest Limited reported results from the initial reconnaissance Reverse Circulation (RC) drilling program completed at the Morrisey Nickel-Copper-Platinum Group Element (Ni-Cu-PGE) Project, located in the Narryer Terrane approximately 500km north of Perth in WA. The Morrisey Project is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). Drilling was designed to test three discrete electromagnetic (EM) targets that were closely associated with magnetic anomalies similar to the anomaly over the Gonneville intrusion that hosts Ni-Cu-PGE mineralisation at the Julimar Project, just north of Perth. The initial three-hole drilling program (726m) intersected a mixed sequence of high-grade metamorphic rocks including iron formations, mafic (meta-gabbros) and ultramafic (meta- pyroxenites) units, interleaved within a sequence of granitic gneisses. The ultramafic units reflect potential host rocks for Ni-Cu-PGE mineralisation. Drilling at the Waterfall and Sandfly prospects intersected increased sulphide levels (up to 13% S) within and marginal to the iron formations that coincide with the location of the modelled EM plates. The sulphide zones vary in thickness from a few metres up to 34 metres (in 22MYRC02) and consist of pyrrhotite and pyrite mineralisation, with no significant base metal anomalism reported. Narrow (<20m) intervals of ultramafics containing elevated chrome (>1000ppm Cr), magnesium (>10% Mg) and nickel (up to 1,350ppm Ni) values were also intersected at Sandfly and Waterfall, reflecting potential host rocks for Ni-Cu-PGE mineralisation. The extent of these units is unknown but is likely to be more extensive than indicated by this initial drilling program. High iron values (25% to 39% Fe) reported in drill-holes 22MYRC001 and 22MYRC002 occur within relatively thick metamorphosed iron formations (up to 60 metres) that contain coarsely crystalline magnetite, which could reflect a new opportunity for the Company if the magnetite can be easily beneficiated. Test work is currently being considered under the SAA. At the Bilga Rocks prospect, drilling (hole 22MYRC003) intersected a thick body (>120m) of meta-gabbro, which appears to form part of a much larger magnetic complex that extends for several kilometres to the north. Trace sulphides (mainly pyrite) reported throughout the meta- gabbro partly explain the EM response that was targeted by drilling. Strong magnetic anomalies north of 22MYRC003 reflect possible ultramafic units within the inferred complex that have not been tested by drilling. Numerous magnetic responses evident in the regional aeromagnetic data are now considered to be potential prospects for either magnetite and/or nickel-copper-PGE mineralisation based on the results of this program. None of these targets have previously been tested by drilling. Tillkännagivande • Oct 10
AusQuest Limited Announces Major Drilling Program Commences At the Pirata Copper Project, Peru AusQuest Limited advises that Reverse Circulation (RC) drilling (20 holes for a total of 6,700m) has now commenced at its Pirata Copper Project in Southern Peru, under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). The program is expected to take 6-8 weeks to complete with analyses available 4-6 weeks after the completion of drilling. The drill program is designed to test five porphyry copper and/or manto copper targets located south and east of the Cerro de Fierro Project, within a major east-west structural corridor located close to, and parallel with, the Coastal Batholith contact. This is considered to be a priority target zone within the Coastal Belt of Peru and Chile for major copper deposits. The targets contain strong indications of advanced argillic alteration, as defined by anomalous pathfinder elements and high temperature mineralogy (pyrophyllite), representing litho-cap environments that are generally found close to the centre of potential porphyry copper systems. The presence of sporadic copper values of up to 0.8% Cu and distinct magnetic anomalies over several targets provide a high priority rating for the targets being drilled. Reported Earnings • Sep 25
Full year 2022 earnings released: AU$0.002 loss per share (vs AU$0.002 loss in FY 2021) Full year 2022 results: AU$0.002 loss per share (in line with FY 2021). Revenue: AU$744.7k (down 27% from FY 2021). Net loss: AU$1.46m (loss widened 4.3% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Tillkännagivande • Sep 20
Ausquest Limited Announces Major New Drilling Program Set to Commence At the Pirata Copper Project, Peru AusQuest Limited announced that it is gearing up to commence a new program of Reverse Circulation (RC) drilling at its Pirata Copper Project in Southern Peru, under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32) following the receipt of final approvals from the Peruvian Government. Access preparations are underway and drilling is scheduled to start in early October, pending drill rig availability. The program, which will comprise a total of 20 RC drill-holes for ~6,700m, is expected to take 6-8 weeks to complete. Samples will be sent to the ALS Laboratory in Lima for analysis and should be available 4-6 weeks following the completion of drilling. The upcoming drill program is designed to test five porphyry copper and/or manto copper targets located south and east of the Cerro de Fierro Project, within a major east-west structural corridor located close to and parallel with the Coastal Batholith contact. This is considered to be a priority target zone within the Coastal Belt of Peru and Chile for major copper deposits. The targets contain strong indications of advanced argillic alteration, as defined by anomalous pathfinder elements (Mo >10ppm, Bi >5ppm, Te >5ppm, W >10ppm) and high temperature mineralogy (pyrophyllite), representing litho-cap environments that are generally found in close proximity to the centre of potential porphyry copper systems. Sporadic copper values of up to 0.8%Cu and distinct magnetic anomalies over several targets provides a high priority rating for the targets being drilled. Pirata is located immediately east of the Company's Cerro de Fierro Project, where earlier drilling identified widespread copper mineralisation within volcanic host rocks and identified the potential for porphyry copper mineralisation to the south and east of the project, along east-west trending regional structures. Tillkännagivande • Sep 07
Ausquest Limited Announces Copper Target at Hamilton to Be Drill Tested AusQuest Limited advised that it has reached agreement to drill test a potentially significant new copper target identified at the Hamilton North prospect, part of its Hamilton Copper Project in North-West Queensland. The Hamilton Project forms part of AusQuest's Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). Modelling of down-hole electromagnetic (DHEM) survey results has confirmed the presence of a high-conductance (3,000 to 5,000 Siemens) body approximately 50-75m south of recently completed drill-hole 22HMDD018 at Hamilton North, highlighting the potential for a sulphide body within the mineralised banded iron formation (BIF) sequence. Drilling at Hamilton North was designed to test a distinct gravity target closely associated with the mineralised BIF sequence and iron-calcium alteration (skarns) intersected by earlier drilling. Assay results from this drilling confirmed the widespread nature of anomalous copper within the BIF sequence but failed to intersect economic grades. Geochemical results from drill-hole 22HMDD018 suggest that this hole is close to the northern edge of the system, with stronger indications of copper mineralisation to the south in the direction of the off-hole conductor that was detected by the DHEM survey. Computer modelling of DHEM results from hole 22HMDDH018 indicate the presence of a conductor ~200m x 50m in size with a conductance of ~3,000 to 5,000 Siemens, reflecting a potential sulphide source within the mineralized BIF sequence. The modelled body appears to be plunging at ~50° to the ENE, roughly parallel to the layering intersected by drilling. Modelling of down-hole magnetic data collected during the DHEM survey suggests that the conductive target is also strongly magnetic, indicating a close association with the BIF stratigraphy that hosts the copper mineralisation. Drilling of this off-hole conductor has been agreed under the SAA and a new drill-hole has been designed to test the target. Drilling is expected to commence in late September/earlyOctober depending on drill-rig availability. The mineralised BIF sequence at Hamilton appears to be similar in nature to that hosting the Osborne copper-gold deposit (global resource ~36Mt @ 2% Cu and 1g/t Au), located approximately 70km to the north. The Hamilton Project covers a belt of magnetic rocks extending over a strike length of approximately 30km under Eromanga Basin cover, which is approximately 200m thick. Numerous magnetic targets within this belt have never been tested by drilling. Tillkännagivande • Aug 05
AusQuest Limited Announces Drilling Set to Commence At Morrisey Ni-Cu-PGE Project AusQuest Limited announced that preparations have begun for an upcoming Reverse Circulation (RC) drilling program at the Morrisey Copper-Nickel-PGE Project located in the Narryer Terrane approximately 500km north of Perth in WA. The program, comprising ~1,000m of RC drilling, is designed to test electromagnetic (EM) targets closely associated with inferred mafic/ultramafic intrusions that have similar magnetic characteristics to the Gonneville intrusion that hosts the nickel-copper-PGE mineralisation discovered by Chalice Mining (ASX: CHN) at the Julimar Project, north of Perth. The Morrisey Project is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). Modelling of ground EM data outlined conductors with moderate to strong conductance (600 to 6,000 siemens), at relatively shallow depths (50 to 100m), which are thought to reflect sulphide mineralisation within the larger magnetic complexes (mafic/ultramafic intrusions). Earlier soil geochemical surveys reported anomalous nickel and copper values in the vicinity of the EM responses, making them priority targets for nickel-copper and PGE mineralisation. Native Title clearance surveys have been completed with drilling expected to commence in the first half of August. This initial program should take 1-2 weeks to complete with assay data expected 6-8 weeks after the completion of drilling. 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 nickel-copper-PGE potential along the margin of the Western Yilgarn Craton. Tillkännagivande • Jul 28
AusQuest Limited Announces Drilling Update Hamilton Copper Project AusQuest Limited advised that results received to date from the recently completed diamond drilling program at the Hamilton Copper Project in North-West Queensland have upgraded the Hamilton North prospect, where a moderate-to-strong off- hole EM response has been identified close to drill-hole HMDDH018 - highlighting the potential for a sulphide body within the mineralised BIF sequence. The Hamilton Project is under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. A total of three diamond drill holes for 2,045m (two at Hamilton North and one at Hamilton South) were completed to test two distinct gravity targets that were closely associated with mineralised banded iron formation (BIF) sequences and iron-calcium alteration (skarns) intersected by earlier drilling. Assay results for two of the three drill-holes (HMDDH016 & 017) have been received with assays from the third hole expected in early August. At Hamilton North, HMDDH016 intersected a thick zone of anomalous copper (75m @ 490ppm Cu) associated with high iron values (~20% Fe) from 422m, plus several narrower intervals (7m to ~36m) of similar Fe and Cu anomalism further down the hole, increasing the size of the mineralised footprint. Proterozoic basement in HMDDH016 contains metasediments and amphibolites, which become more carbonate altered down hole. Mafic rocks containing magnetite and BIF units are more common below 422m and are associated with the anomalous copper values. HMDDH018, which is located ~200m to the north of hole HMDDH016, appears to have extended the mineralisation footprint but assay results for this hole are still pending. Variable carbonate alteration occurs throughout much of the drill-hole, extending from just below the Cambrian cover (at 190m) to the bottom-of-hole at 646m. Several intervals of BIF and/or disseminated magnetite rock are evident within the broader carbonate halo. Preliminary computer modelling of DHEM results from hole HMDDH018 indicate the presence of a conductor(s) ~100m x 50m in size with a conductance of ~2,000 to 4,000 Siemens, reflecting a potential sulphide source within the mineralized BIF sequence. The modelled body(s) appears to be steeply dipping at an angle to the layering that was intersected by the drill-hole, suggesting possible structural complexities in the area south-west of HMDDH018. Additional drilling will be considered under the SAA to test this target, once all assay results have been received and DHEM modelling is finalised. At Hamilton South, drill-hole HMDDH017, which tested a coincident magnetic-gravity response, failed to intersect the cause of the gravity anomaly. Most of the rocks within the drill-hole were either sodically altered or unaltered metasediments and/or mafics, suggesting that the hole has probably missed the target. Carbonate and potassic alteration which is evident near the bottom of the hole suggests that mineralisation may occur either lateral to, or beneath the current drill-hole. However, the DHEM survey did not identify a near-miss situation. The mineralised BIF sequence at Hamilton appears to be similar in nature to that hosting the Osborne copper-gold deposit (global resource ~36Mt @ 2% Cu and 1g/t Au), located approximately 70km to the north. The Hamilton Project covers a belt of magnetic rocks extending over a strike length of approximately 30km under Eromanga Basin cover, which is approximately 200m thick. Numerous magnetic targets within this belt have never been tested by drilling. AusQuest's Managing Director, Graeme Drew, said the off-hole EM response in hole HMDDH018 had increased the Company's interest at Hamilton North, where thick mineralised BIF sequences have been intersected in conjunction with an untested EM response. Tillkännagivande • Jul 20
AusQuest Limited Commences Reverse Circulation at the Parcoy Copper Project in Southern Peru AusQuest Limited Reverse Circulation has now commenced at the Parcoy Copper Project in Southern Peru. The project is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. Drilling is designed to test beneath strong surface copper anomalism that stretches over a strike length of 3km within andesitic volcanics that are potassically altered - an indication that manto-style copper mineralisation could be widespread at Parcoy. The Parcoy Project is located near the southern end of a recognised Iron-Oxide Copper-Gold (IOCG) metallogenic belt in Southern Peru and is located 100km south of the Mina Justa deposit (475Mt @ 0.68% Cu), which is being developed by Marcobre SAC. Drilling in 2021 provided `proof-of-concept' for manto-style copper at Parcoy but did not test the strongest copper anomalies due to poor access into the centre of the target area. Drilling should take approximately 3-4 weeks to complete with samples sent to ALS in Lima for analysis. Final assay results should be available 4-6 weeks after the completion of drilling. AusQuest's Managing Director, Graeme Drew, said the Company was excited to be drilling again in Peru. Tillkännagivande • Jul 12
AusQuest Limited Provides Parcoy Copper Project in Southern Peru Update AusQuest Limited advised that it is gearing up to commence a new program of Reverse Circulation (RC) drilling at its Parcoy Copper Project in Southern Peru, under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. Access preparations have been completed and drilling is scheduled to commence in July, with the program expected to comprise a total of 10 RC drill-holes for ~3,500m. The drilling is designed to test beneath strong surface copper anomalism that stretches over a strike length of ~3km within the andesitic volcanics. The target, which is located adjacent to an interpreted feeder structure, is thought to reflect manto style (replacement) copper mineralisation similar to that found at the nearby Mina Justa deposit, which is being developed by Marcobre SAC. Drilling in 2021 provided `proof-of-concept' for manto-style copper at Parcoy but did not test the strongest copper anomalies due to poor access into the centre of the target area. New access roads have now been prepared with drill collars located on the top of ridges to enable testing of the full stratigraphic section. The drilling program should take approximately 3-4 weeks to complete with samples being sent to ALS Laboratory in Lima for analysis. Final assay results should be available 4-6 weeks after the completion of drilling. The Parcoy Project is located near the southern end of a recognised IOCG metallogenic belt in Southern Peru. It lies within ~100km of the Mina Justa deposit (~475Mt @ 0.68% Cu), and ~50km north-west of the Company's Cerro de Fierro Project. Geological mapping and rock- chip sampling has identified significant concentrations of copper (+/-gold) at surface, reflecting potential manto-style (replacement) mineralisation within the volcanic stratigraphy. The maiden drilling program in 2021 identified an association between copper and potassic alteration in the volcanics with anomalous pathfinder elements (Mo, W, and Bi) in the footwall, supporting the concept of manto copper mineralisation at Parcoy. AusQuest's Managing Director, Graeme Drew, said the upcoming drilling program was expected to provide a comprehensive test of the potential to delineate a Tier-1 resource at Parcoy. Tillkännagivande • Jul 01
AusQuest Limited Provides Balladonia Drilling Update AusQuest Limited announced that the base metal prospectivity of its Balladonia Base Metal Project in the Fraser Range region of Western Australia has been upgraded following receipt of assay results from recent drilling at the Tea Tree prospect. The Balladonia Project is subject to the Strategic Alliance Agreement (SAA) with a wholly- owned subsidiary of South32 Limited. Geological logging of drill core and subsequent petrological studies have identified a sequence of high-grade metamorphic rocks containing banded iron formations (BIFs), garnetiferous quartzites, garnetites and mafics with zones of red-rock (potassic) alteration within the sequence defined by detailed magnetic and gravity surveys. Assay data have confirmed the presence of potassic alteration throughout much of the sequence while also identifying iron (Fe) and manganese (Mn) alteration within the garnetiferous quartzites, similar to the alteration recognised within so-called `lode packages' found in the world-class Cloncurry Belt in NW Queensland which hosts Broken Hill Type (BHT) Pb-Zn-Ag and iron-oxide copper-gold (IOCG) deposits. A BHT alteration index calculated from the assay data (based on a study of the Cannington deposit by S Bodon PhD thesis, University Tasmania) shows strong BHT alteration throughout most of the drill-holes, supporting the concept that BHT deposits similar to those found in NW Queensland could be present within the Balladonia Project. The presence of substantial thicknesses (~30-50m) of highly anomalous lead (average 200ppm Pb and up to 420ppm Pb), zinc (average 400ppm Zn and up to 3,170ppm Zn) and cadmium (average 4ppm Cd and up to 20ppm Cd) within the interpreted `lode package', highlights the potential for base metals within the sequence, and the possibility for them to accumulate along strike in favourable structural settings. The occurrence of potential `lode packages' has not previously been recognised in the Fraser Province, and significantly upgrades the base metal prospectivity of this region. High amplitude magnetic/gravity anomalies within the Balladonia Project are now considered to be high-priority targets for BHT lead-zinc-silver and possibly IOCG mineralisation. Of additional interest are the assay results from drill-hole BDDDH013, which intersected a zone of graphite mineralisation (8m @ 13.5% Total Graphitic Content (TGC) including 4m @ 20.5% TGC) suggesting potential for a significant graphite discovery in the area. Petrological examination of the graphite has confirmed it is coarse grained with graphite flakes in excess of 6mm in hand specimen. The extent and size of the graphitic unit is unknown at this stage as it was only intersected in one of the drill-holes, and there has been no prior exploration for graphite in this area. Further exploration activities at Balladonia are currently the subject of discussions with South32 under the SAA. Assay results from the Harms Lake prospect are still pending. Tillkännagivande • May 18
AusQuest Limited Upgrades Previously Identified Airborne EM Anomalies At Morrisey Copper-Nickel-PGE Project in WA AusQuest Limited advised that it has upgraded previously identified airborne EM anomalies at its Morrisey Copper-Nickel-PGE Project in WA to the drill testing stage after receiving positive results from recent ground electromagnetic (EM) surveys. The Project, which is located within the Narryer Terrane of Western Australia (WA) approximately 500km north of Perth, is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). All conductors confirmed by the ground-based Moving Loop Transient Electromagnetic (MLTEM) surveys are closely associated with strong magnetic anomalies that reflect possible chonolith-type intrusions (horizontal cylindrical bodies) with similar magnetic characteristics to the Gonneville intrusion that hosts the Ni-Cu-PGE mineralisation discovered by Chalice Mining at the Julimar Project, north of Perth. Modelling of MLTEM data has outlined targets at the Sandfly, Waterfall and Bilga Rocks prospects that have moderate to strong conductance (~600 to 6,000 siemens), are discrete in nature with dimensions varying from 50m x 100m up to 75m x 200m, and occur at depths of ~50 to 100m, suggesting the presence of a conductive source in bedrock. The targets are believed to reflect sulphide mineralisation within the large magnetic complexes (mafic/ultramafic intrusions) and are considered priority targets for nickel-copper and PGE mineralisation. Earlier soil geochemical surveys across the target areas reported anomalous nickel and copper values in the vicinity of the EM responses (December 2021 Quarterly Report). Specifications for the MLTEM survey included 200m x 200m transmitter loops, a fluxgate receiver coil offset from the transmitter loop (slingram array) and 100m stations. A total of 15km of MLTEM surveying was completed. Proposed Reverse Circulation (RC) drilling of the EM and magnetic targets is currently being considered under the SAA. Native Title clearance surveys for access to drill sites are expected to be completed around the end of May ahead of proposed drilling in late Q2/Q3 subject to rig availability. 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 nickel-copper-PGE potential along the margin of the Western Yilgarn Craton. AusQuest's Managing Director, Graeme Drew, said the Company was excited to have generated strong drilling targets from the application of a systematic, multi-disciplinary approach to exploration which included regional magnetics, airborne and ground-based geophysics and surface mapping and geochemistry. Tillkännagivande • May 17
AusQuest Limited Provides Balladonia Drilling Update AusQuest Limited advised that drilling at the Balladonia Copper-Nickel Project in the Fraser Range region of Western Australia (WA) has further enhanced the base metal prospectivity of the project, which is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited (South32). At the Tea Tree Prospect, a total of four diamond holes for ~940m were completed across a NNW trending magnetic/gravity corridor. The holes intersected a sequence of metapelites containing banded iron formations (BIFs), garnetiferous quartzites, garnetites and mafic volcanics with zones of red-rock (potassic) alteration within the sequence. These characteristics are similar to the so-called `lode packages' found in the world-class Cloncurry Belt in NW Queensland which hosts Broken Hill Type (BHT) Pb-Zn-Ag and iron-oxide copper-gold (IOCG) deposits. These potential `lode packages' have not previously been recorded in the Fraser Province and, if confirmed by geochemical results and petrography, will significantly upgrade the prospectivity of the region - with high amplitude magnetic/gravity anomalies within the Balladonia Project becoming high-priority targets for BHT Pb-Zn-Ag and/or IOCG mineralisation. Drill-hole BDDDH013, which targeted an EM conductor near the western margin of the interpreted `lode package', intersected thin beds (3.3m and 1.3m wide) of graphite which are being tested for graphitic carbon content and grain size. Visual estimates suggest that the graphite is relatively clean with coarse flakes of up to 6mm in size. The extent and size of the graphitic unit is unknown at this stage as there has beenno prior regional exploration for graphite in this area. At the Harms Lake Prospect only one of the targets was tested by drilling before theprogram had to be suspended due to access issues caused by heavy rain in the area. Drill-hole BDDD017, which was sited to test an EM conductor east of the interpreted intrusive, intersected narrow graphitic zones (3.4m and 0.6m wide) within a wide zone (20m) of potassic alteration. Geological logging and sampling of this hole is still to be completed once access to the prospect is restored. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). Non-Executive Director Chris Ellis was the last director to join the board, commencing their role in 2006. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Tillkännagivande • Apr 12
AusQuest Limited Announces Drilling Commencement to Test Priority Targets At Hamilton Copper Project - NW QLD Further to company's announcement on 31 March 2022, AusQuest Limited advised that drilling has now commenced at its Hamilton Copper Project in North West Queensland under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. A total of three diamond drill holes for ~1,850m will test distinct gravity targets closely associated with mineralised banded iron formation (BIF) and iron-calcium alteration (skarns) that were intersected by earlier drilling programs. The drilling program should take approximately 3-4 weeks to complete with samples to be sent on an ongoing basis to the Intertek Genalysis Laboratory in Townsville for analysis. Final assay results should be available 4-6 weeks after the completion of drilling. Computer modelling of recently acquired gravity data identified gravity targets associated with the magnetic stratigraphy that had not been tested by previous drilling. Specific Gravity (SG) and magnetic susceptibility (MS) measurements on drill-core from earlier programs indicated a strong relationship between anomalous copper values (up to 8,000ppm Cu) and rocks with higher density (heavy rocks with SGs >3.3) and higher magnetic susceptibility (strongly magnetic rocks with MS >0.3 SI units). This highlighted the potential for stronger copper mineralisation to be associated with the newly identified gravity anomalies, further reinforcing their importance as priority drill targets. The current drill program is designed to test these strong gravity targets at both the Hamilton North (Figures 1 and 2) and Hamilton South prospects. The mineralised BIF at Hamilton appears to be similar in nature to that hosting the Osborne copper-gold deposit (global resource ~36Mt @ 2% Cu and 1g/t Au), located approximately 70km to the north, which also has an associated gravity response. The Project covers a belt of magnetic rocks extending over a strike length of approximately 30km under Eromanga Basin cover, which is approximately 200m thick. Numerous magnetic targets within this belt have never been tested by drilling. Tillkännagivande • Apr 01
Ausquest Limited to Commence A New Program of Diamond Drilling At Its Hamilton Copper Project AusQuest Limited is gearing up to commence a new program of diamond drilling at its Hamilton Copper Project in North West Queensland under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. A total of three diamond drill holes for 1,850m is planned to test two distinct gravity targets that are closely associated with mineralised banded iron formation (BIF) sequences and iron- calcium alteration (skarns) that were intersected by earlier drilling programs. The areas of semi-coincident gravity and magnetic responses are considered high-priority targets in light of results from the earlier drilling and are believed to have significantly upgraded the prospects for copper at Hamilton. The drilling program should take approximately 3-4 weeks to complete with samples to be sent on an ongoing basis to the Intertek Genalysis Laboratory in Townsville for analysis. Final assay results should be available 4-6 weeks after the completion of drilling. The mineralised BIF at Hamilton appears similar in nature to that hosting the Osborne copper-gold deposit (global resource 36Mt @ 2% Cu and 1g/t Au), located approximately 70km to the north, which also has an associated gravity response. The Project covers a belt of magnetic rocks extending over a strike length of approximately 30km under Eromanga Basin cover, which is approximately 200m thick. Numerous magnetic targets within this belt have never been tested by drilling. AusQuest's Managing Director, Graeme Drew, said the highly encouraging recent gravity results had significantly upgraded the potential for a copper-gold discovery at Hamilton, paving the way for the upcoming drilling program. Tillkännagivande • Mar 10
AusQuest Limited Announces Maiden Drilling Confirms Extensive Alteration at Los Otros Copper Project, Peru AusQuest Limited completed its maiden drilling program at the Los Otros Porphyry Copper Project in southern Peru, which is subject to its strategic alliance agreement (SAA) with a wholly-owned subsidiary of South32 Limited. The reverse circulation (RC) drill program, which consisted of four widely spaced drill-holes for a total of 1,261m, was designed to provide an initial test of porphyry copper targets located close to the Palaeocene Porphyry Copper Belt of southern Peru, which is the country's major copper producing region. Advanced argillic alteration (AAA) indicative of a lithocap environment, often associated with porphyry copper deposits, was intersected in every drill-hole, indicating the presence of an extensive alteration system(s) within the volcanic stratigraphy at Los Otros. The AAA is defined by moderate temperature clay mineralogy (alunite-dickite) and sericite as indicated by analysis of TerraSpec and geochemical data. This suggests that the drill-holes are located distal to a porphyry system, which is either buried deeper in the profile or located lateral to the current drilling. The strongest alteration occurs within drill-hole LOTRC04, where upwards of 250 metres of AAA was intersected containing highly anomalous molybdenum (up to 44ppm Mo),antimony (up to 22ppm Sb) and lead (up to 480ppm Pb), with weakly elevated bismuth (up to1.3ppm Bi) and tin (up to 10ppm Sn), suggesting it is closer to a causative porphyry than the other three holes. Drill-hole LOTRC02, which contains the least altered volcanics, is considered to be the most distal from a causative porphyry, suggesting that the target is likely to occur to the north, possibly under sediment cover. Further exploration work at Los Otros is subject to the SAA and will be determined in consultation with South32 once a full assessment of all available results has been completed. Porphyry copper targets at Los Otros are associated with large areas of advanced argillic alteration, some of which have a Palaeocene age date similar to the age dates reported for the giant porphyry copper deposits located nearby. Reported Earnings • Mar 10
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: AU$0.001 loss per share (up from AU$0.003 loss in 1H 2021). Revenue: AU$245.6k (down 42% from 1H 2021). Net loss: AU$681.9k (loss narrowed 64% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Tillkännagivande • Jan 29
AusQuest Limited Announces Additional Drill Targets Identified At Balladonia Copper-Nickel Project - Fraser Range, WA AusQuest Limited announced that it has identified additional priority drill targets following recent ground-based electromagnetic (EM) surveys at the Balladonia Copper-Nickel Project in the Fraser Range of Western Australia (WA). The new targets, at the Tea Tree and Harms Lake prospects, will be included in the upcoming diamond drill program. As a result, the upcoming program, which is expected to commence in March, has been increased to six holes for a total of approximately 1,400m. At the Harms Lake Ni-Cu-PGE prospect, the moving loop transient electromagnetic (MLTEM) survey was designed to locate possible massive sulphides associated with the mafic/ultramafic intrusion outlined by the Company's earlier air-core drilling program and detailed aeromagnetic survey. Five lines (60 readings) of MLTEM were completed along lines 200m apart with stations every 100 metre along each grid line, using 200m x 200m transmitter loops and an offset receiving sensor (B-field Squid). A shallow (<50m) strong conductor (approximately 4,000 siemens), approximately 120m x 120m in size, was located along the northernmost grid line, suggesting the presence of a possible sulphide source close to the contact of the interpreted intrusion. Weaker conductive responses over the centre of the intrusion are thought to reflect deeper weathering, with the possibility of disseminated to matrix sulphides associated with the more ultramafic portion of the intrusion. At the Tea Tree Cu-Au prospect, a single line of MLTEM was completed along the drill section planned to test coincident magnetic and gravity anomalies that are thought to reflect possible mineralised BIF stratigraphy similar to that found in the Eastern Succession of north- west Queensland (Mt Isa Region), where a number of base metal deposits occur. The MLTEM survey identified a strong conductor (approximately 8,000 siemens) at a depth of approximately 100m located towards the western end of the survey line, suggesting a possible sulphide and/or graphitic source at the margin of the inferred BIF stratigraphy. While this EM target has not been fully defined, additional drilling to test this target has been included within the planned drill program - which is designed to test the base metal potential of the inferred BIF sequence. Tillkännagivande • Jan 19
AusQuest Limited Announces New District-Scale Nickel-Copper Project Accepted Under Strategic Alliance AusQuest Limited has accepted the new district-scale Jubilee Lake Nickel-Copper Project, located ~500km east of Kalgoorlie in WA, as a new Exploration Opportunity under the Strategic Alliance Agreement (SAA) between the two companies. Under the terms of the SAA, South32 has exclusive rights to the Company's projects and can earn a 70% interest in each project by spending a total of USD 4.5 million on exploration, with the right to earn an additional 10% interest by completing Pre-Feasibility Studies. The Jubilee Project consists of one granted Exploration Licence and five Exploration Licence applications covering a total area of ~3,200km square. The Project is situated within a large flood basalt terrane (>4,000km square), close to the south-eastern margin of the Yilgarn Craton, and is centred over the Rodona Shear which shows strong evidence as being the key feeder structure to the surrounding flood basalts. The Rodona Shear, which extends over hundreds of kilometres, is a deep-seated fault system which is clearly evident in both the regional magnetic and gravity data. Mafic/ultramafic intrusions that are associated with feeder structures to flood basalt terranes are considered prime targets for Ni-Cu-PGE sulphide deposits similar to those found at the giant Norilsk deposits in Russia, and more locally at Nebo-Babel (Oz Minerals), located ~300km to the north-east of Jubilee, and possibly at Nova-Bollinger (IGO), ~350km to the south-west. Modelling of aeromagnetic data over the Jubilee Project has identified a possible chonolith-type intrusion (a horizontal cylindrical body), ~15km in length and coincident with the Rodona Shear, making it a high priority target for Ni-Cu-PGE mineralization. The targets occur at shallow depths (~50m to 100m below the Eucla Basin sediments) and have limited depth extent (~200m to 300m), suggesting that the prime target zone for nickel sulphide mineralisation (near the base of the inferred chonolith) is within reach of standard electromagnetic (EM) techniques. A proposal to rapidly advance this Exploration Opportunity to the drilling stage has been accepted under the SAA. EM surveys to locate massive nickel sulphide targets within the interpreted chonolith and feeder intrusions are scheduled to start in second quarter of 2022. AusQuest Managing Director Graeme Drew said the inclusion of the province-scale Jubilee Lake Project under the Company's SAA with South32 was an exciting development, adding further depth and momentum to its ongoing exploration programs in Australia, especially for nickel and PGEs. Tillkännagivande • Jan 13
AusQuest Limited Commence Its Maiden Drilling Program At the Los Otros Porphyry Copper Project in Southern Peru AusQuest Limited advised that it has commenced its maiden drilling program at the Los Otros Porphyry Copper Project in southern Peru, which is subject to its Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited. The program, comprising ~1,200m of Reverse Circulation (RC) drilling (3-5 holes), will be undertaken as an initial test of a series of large porphyry copper targets located close to the Palaeocene Porphyry Copper Belt of southern Peru, which is the country's major copper producing region. The program is estimated to take around two weeks to complete with assay results expected to be available approximately six weeks after completion of drilling. The porphyry copper target at Los Otros is associated with an area of advanced argillic alteration (~1km²) that has a Palaeocene age date, similar to the age dates reported for the giant porphyry copper deposits located nearby. Tillkännagivande • Dec 23
Ausquest Limited Announces Drill Targets at Hamilton Copper Project Upgraded by Positive Gravity Results AusQuest Limited advised that it has upgraded key drill targets at the Hamilton Copper Project in NW Queensland after receiving positive results from recently completed gravity surveys. The Hamilton Project is subject to the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited. The surveys have revealed anomalous responses over the mineralised banded iron formation (BIF) sequences which are being targeted for further drilling in 2022. The mineralised BIF at Hamilton appears similar in nature to those hosting the Osborne copper-gold deposit (global resource 36Mt @ 2% Cu and 1g/t Au), located approximately 70km to the north, which also has an associated gravity response. A total of 1,375 gravity stations were surveyed on 200m x 100m grids with in-fill to 100m x 100m over the target areas. Residual gravity anomalies of 1.5 milligals were identified at both the southern and northern prospects, representing areas of potentially thicker BIF where copper mineralisation is more likely to accumulate. Further to the Company's announcement of October 12th 2021, current indications are that drilling at Hamilton will now take place in the April-May 2022 period, following a delay in the program caused by heavy rains in November which affected access to the drill sites. The Company has contracted DRC Drilling to complete the program. The Hamilton Project covers a belt of magnetic rocks extending over a strike length of approximately 30km from north to south under Eromanga Basin cover, which varies from 190m thickness in the north to 220m in the south. Numerous magnetic targets within this belt have never been tested by drilling. Reported Earnings • Sep 23
Full year 2021 earnings released: AU$0.002 loss per share (vs AU$0.002 loss in FY 2020) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2021 results: Revenue: AU$1.09m (up 112% from FY 2020). Net loss: AU$1.40m (loss widened 42% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Tillkännagivande • Jul 01
AusQuest Limited Announces the Latest Round of Diamond Drilling at the Hamilton Copper Project in North-West Queensland AusQuest Limited announced that the latest round of diamond drilling at the Hamilton Copper Project in north-west Queensland has identified the potential for nearby copper mineralisation similar in style to that found at the Osborne copper-gold mine (global resource ~36Mt @ 2% Cu, 1g/t Au) located approximately 70km to the north. The wide-spaced drilling intersected chalcopyrite-pyrite mineralisation within a banded ironstone sequence in three of the four holes completed, providing a vector for follow-up exploration targeting potential massive mineralisation. Narrow intervals (~5m to 9m) containing visual estimates of trace to 1 to 2% chalcopyrite, associated with greater amounts of pyrite and magnetite, were intersected in drill-holes HMDD012 and HMDD013 in the southern area, and over an approximate 40m down-hole interval in drill-hole HMDD015, the first hole drilled into the northern magnetic target. Drilling also intersected wide zones (~20m to 60m) of relatively intense carbonate flooding, mainly within amphibolite host rocks (metamorphosed mafic igneous rocks), which is known to reflect alteration associated with mineralisation found elsewhere in the district. These results are considered to be highly encouraging and follow-up down-hole electromagnetic surveys (DHEM) are currently being planned to test for massive copper mineralisation close to the drill-holes (within ~200m). The DHEM surveys are expected to commence in late July, pending the availability of geophysical crews, with further drilling likely to be undertaken subject to the results of these surveys. The current drilling program consisted of a total of four diamond drill-holes for 2,113m. Three holes (HMDD012, HMDD013, HMDD014) were drilled in the southern prospect to test discrete magnetic/gravity targets associated with potassic alteration defined by earlier drilling, and one hole (HMDD015) was drilled ~15km to the north, to provide an initial test of a similar magnetic complex that had not been previously drill-tested. The banded ironstone sequence intersected in three of the drill-holes (HMDD012, HMDD013, and HMDD015), is characterised by both layered and skarn-like accumulations of magnetite with associated, but patchy, chalcopyrite-pyrite mineralisation and carbonate alteration of amphibolite rocks within the ironstone sequence. By contrast, drill-hole HMDD014 intersected variably carbonate altered rocks from the top of basement (~220m) to the bottom-of-hole (~500m) with some broad zones showing evidence of colloform banding and crystal-lined vugs, implying significant fluid activity in this area. The ironstones generally occur within a sequence dominated by amphibolites with occasional granitic pegmatites, except for drill-hole HMDD012 where the ironstones occur within a meta-sedimentary (pelitic) sequence. Highly anomalous magnetic susceptibility measurements (>0.5 SI units) on drill core confirmed that the ironstones were the main cause of the stronger magnetic anomalies being targeted. Structural measurements on oriented core suggest the sequence is relatively tightly folded, which may provide preferential trap sites (fold hinges) for the accumulation of sulphide mineralisation, as is common at other deposits in the region. All drill core has been sampled at one metre intervals with samples sent to Intertek Genalysis for analysis. Assay results are expected within four to six weeks, at which time a full analysis of the drilling results will be completed. The Hamilton Project is located in north-west Queensland, ~120km south of the world-class Cannington mine, which is owned and operated by South32, and 70km south of the Osborne mine which had an original global resource of ~36Mt @ 2% Cu and 1g/t Au (source PorterGeo). The Hamilton Project covers a belt of magnetic rocks extending over approximately 30km of strike length from north to south, under Eromanga Basin cover which varies from ~190m thick in the north to ~220m in the south. Numerous targets within this belt have not been tested by drilling. Tillkännagivande • Jun 09
AusQuest Limited Commences an Extensive Helicopter-Borne Electromagnetic Survey at Morrisey Nickel-Copper-PGE Project AusQuest Limited announced that an extensive helicopter-borne electromagnetic (HEM) survey has commenced at its Morrisey Nickel-Copper-PGE Project in Western Australia, under the Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited. Approximately 2,260km of HEM will be surveyed over three priority target areas targeting nickel- copper-PGE sulphide mineralisation similar to that found at Nova-Bollinger in the Fraser Range of Western Australia (WA) and, more recently, at Julimar, north of Perth which highlighted the untested nickel-copper-PGE potential of the western margin of the Yilgarn Craton. The Morrisey Project covers an area of 1,200km2 and extends for a strike length of 80km along the north-western margin of the Yilgarn Craton within the high grade metamorphic Narryer Terrane of WA. The Project was initially secured to cover magnetic targets indicative of mafic/ultramafic host rocks in a similar tectono-stratigraphic setting to the Julimar (and possibly Nova-Bollinger) discoveries. Regional soil sampling across the priority target areas indicates the presence of prospective mafic/ultramafic rock types in the area, as well as several nickel-copper soil anomalies with the potential to reflect nickel sulphide mineralisation. The HEM survey will be conducted by NRG Australia using the Xcite HEM system along flight lines 150m apart. The survey should take approximately 2 weeks to complete, with final processed data available within four weeks of completing the survey. Tillkännagivande • May 20
AusQuest Limited Announces Drilling Commences at the Hamilton Copper Project, Queensland AusQuest Limited announced that drilling has commenced at the Hamilton Copper Project in north-west Queensland under the Company's Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32. The overall program will comprise four diamond drill-holes for ~2,000m, with three holes (~1,500m) designed to test discrete magnetic/gravity targets that occur within the potassic alteration halo defined by earlier drilling. The size of the alteration halo is similar to that reported at the Ernest Henry copper-gold deposit, located ~250km to the north. The location of drill-sites was optimized by detailed modelling of recently acquired aeromagnetic data which has provided greater control on target geometries and depths. The holes are planned to be drilled to depths of ~500 metres. A fourth drill-hole (~400m) will provide an initial test of a new magnetic/gravity target located ~15km to the north of the main target area, within a similar interpreted tectonostratigraphic setting. The coincident magnetic/gravity response is thought to reflect another possible Ernest Henry-style target. Drilling is expected to take approximately 3-4 weeks to complete with assays available within four weeks of the completion of drilling. The Hamilton Project is located in north-west Queensland, ~120km south of the world-class Cannington mine, which is owned and operated by South32. Exploration is targeting Iron-Oxide Copper-Gold (IOCG) mineralization similar to that found at the Ernest Henry mine. AusQuest's Managing Director, Graeme Drew, said the ~500m deep diamond holes at the Hamilton prospect should provide a comprehensive test of this priority exploration target, following the successful definition of a large alteration footprint in the area. Tillkännagivande • Apr 29
AusQuest Limited Announces Commencement of Maiden Drilling at Parcoy Copper Project in Southern Peru AusQuest Limited announced that its maiden drilling program at the Parcoy Copper Project in southern Peru, which is being undertaken under the Company's Strategic Alliance Agreement (SAA) with a wholly-owned subsidiary of South32 Limited, has commenced. A total of eight Reverse Circulation (RC) drill-holes for approximately 3,000m is planned to test two priority target areas that were identified by the Company's rock-chip and soil sampling programs completed during 2019 and 2020. Copper (+/-gold) anomalies and associated indicator elements (Mo, Bi, Au, Te, Zn, Sb) within the andesitic volcanics have defined targets for the initial `Proof-of-Concept' drilling, which is designed to determine the Project's potential for large-scale, structurally related replacement-style copper (+/-gold) mineralisation. Drilling operations are expected to take approximately three to four weeks to complete with assays expected approximately 4 weeks after the completion of drilling. The Parcoy Project is located approximately 50km north-west of the Company's Cerro de Fierro project and approximately 100km south-east of the Mina Justa Deposit (475Mt @ 0.68% Cu), which is currently being developed by the Marcobre Joint Venture. Reported Earnings • Mar 10
First half 2021 earnings released: AU$0.003 loss per share (vs AU$0.001 loss in 1H 2020) The company reported a mediocre first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: AU$422.1k (up 35% from 1H 2020). Net loss: AU$1.88m (loss widened 226% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 94% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Tillkännagivande • Feb 27
AusQuest Limited, Annual General Meeting, Mar 31, 2021 AusQuest Limited, Annual General Meeting, Mar 31, 2021, at 10:00 W. Australia Standard Time. Location: Heritage Room,South of Perth Yacht Club, Applecross Western Australia Australia Agenda: To ratify the prior issue of equity securities; to approve the issue of equity securities in the tranche two placement; and to discuss other matters. Tillkännagivande • Feb 26
AusQuest Limited (ASX:AQD) acquired Morrisey and Moora Nickel-Copper Projects. AusQuest Limited (ASX:AQD) acquired Morrisey and Moora Nickel-Copper Projects effective February 25, 2021. AusQuest Limited raised funds of AUD 3 million and uses existing cash resource to fund the transaction. Tillkännagivande • Feb 19
AusQuest Limited announced that it expects to receive AUD 3 million in funding AusQuest Limited (ASX:AQD) announced a private placement of up to 142,857,150 new fully paid ordinary shares at a price of AUD 0.021 per share for gross proceeds of AUD 3,000,000 on February 19, 2021. The transaction will include participation from sophisticated and professional investors. The company will issue one attaching unlisted option exercisable at AUD 0.04 on or before March 1, 2023 for every two shares subscribed. The company will receive funding in two tranches. The company will issue 111,904,768 shares and 55,952,384 options in first tranche which is expected to occur on February 26, 2021 with the placement shares and options to be issued on or around March 1, 2021 and the company will issue 30,952,382 shares and 20,476,191 options in second tranche which is subject to shareholder approval at a general meeting to be held around the end of March 2021 Tillkännagivande • Feb 16
AusQuest Limited Commences Drilling At the Cerro De Fierro Copper Project in Southern Peru AusQuest Limited announced that drilling has commenced at the Cerro de Fierro Copper Project in southern Peru, under the Company's Strategic Alliance Agreement (SAA) with a wholly owned subsidiary of South32 Limited. A total of ~4,000m of Reverse Circulation (RC) drilling is planned to test beneath strong copper anomalism (>1.0% Cu) and associated iron (Fe) and potassic (K) alteration identified by rock-chip sampling to the south of the Company's previous drilling, which intersected widespread copper mineralisation beneath Current interpretation by the Company's consultants suggests that the copper-bearing andesites that have been found at surface are the same as the mineralised andesites intersected at depth by earlier drilling. This suggests strong potential for the mineralisation to continue beneath the volcanic cover between the two areas. The drill-holes are variably spaced, ranging from ~200m and up to several kilometres apart in order to provide a first-pass assessment of the Project's potential to host shallow copper mineralisation. Planned hole depths vary from ~200m up to a maximum of 350m. Drilling operations are expected to take up to approximately six weeks to complete, with final assay data expected within approximately four weeks of the completion of drilling. Tillkännagivande • Dec 25
AusQuest Limited Announces Paterson Gold-Copper Project Drilling Update AusQuest Limited announced that final assays have now been received for the initial reconnaissance Reverse Circulation (RC) drilling program (7 holes/1,916m) completed recently at the Gunanya Project in the Paterson Province of Western Australia under its Strategic Alliance Agreement with South32. The program was designed to identify the cause of three buried magnetic targets in the area and to determine their potential to reflect mineral systems similar to those found at Winu (by Rio Tinto) and Havieron (by Newcrest), located in the northern half of the Paterson Province. Of the three targets tested to date, Anomaly 2 remains a viable target for copper-gold mineralisation, similar to other occurrences in the Paterson Province. The magnetic responses at Anomalies 1 and 3 appear to be caused by metamorphic basement rocks containing variable amounts of magnetite, located beneath sedimentary cover which was considered to be the main target host for mineralisation at Gunanya. The target sediments, which are located beneath the younger Boondawarri glacial sediments, were found to be highly variable across the three sites tested, ranging from barium- rich sandstones at Anomaly 1 to calcareous siltstones with elevated sulphur (1 to 2% S) at Anomalies 2 and 3 (Mundadjini Formation), highlighting the presence of potential host rocks at the latter anomalies. The Mundadjini Formation was originally considered to be the main target horizon at Gunanya as it was thought to be equivalent to the sediments that host copper and gold mineralisation elsewhere in the Paterson Province. At Anomaly 2, the source of the magnetic response was not intersected by drilling, with both drill-holes GURC03 and 04 terminating in Mundadjini sediments before the holes could test the magnetic target. Only 70m and 20m thicknesses of Mundadjini sediments were intersected in the drill-holes before they were stopped by high water flows. Although no anomalous copper values were found within the limited amount of Mundadjini sediment in drill-holes GUR03 and 04, there were elevated copper values (up to 400ppm Cu) with associated silver (Ag), potassium (K), lead (Pb) and thallium (Tl) reported within the basal section of the overlying Boondawarri sediments, suggesting the possibility of leakage from a nearby source. The change in basement depth between Anomaly 2 (>292m) and Anomaly 3 (90m) suggests a major structural break between the two prospects, with Anomaly 2 occurring in a down-thrown block to the east of a regional basement high. The possibility that a greater thickness of Mundadjini sediments occurs at Anomaly 2 implies the magnetic response at this prospect likely occurs within the sedimentary sequence, rather than within metamorphic basement, making it a high priority target for copper and/or gold mineralisation within the Paterson environment. AusQuest Managing Director Graeme Drew said that while the Company was still working on the implications of this drilling program, it was very positive about the possibilities in the area, particularly at Anomaly 2 where the magnetic target is highly discrete, potentially within favourable host sediments, and close to major structures. Tillkännagivande • Nov 18
AusQuest Limited Announces Drilling Update on Tangadee Zinc Project AusQuest Limited advised that it has now completed an assessment of the final assay data received from the recently completed
Reverse Circulation (RC) drilling program (5 holes/1,352m) at the Tangadee Zinc Project in Western Australia, under its Strategic Alliance Agreement (SAA) with South32. The assay results clearly indicate that the drilling successfully intersected down-dip
extensions of the surface zinc soil anomaly. Thick sections of the black mudstone were found to contain anomalous levels of zinc (up to 1.3% Zn), copper (up to 0.23% Cu), silver (up to 17gpt Ag) and thallium (up to 17ppm Tl), along with elevated gold values (up to 0.177gpt Au) throughout parts of the sequence. The anomalous base metal intersections are partly associated with elevated levels of molybdenum (Mo), vanadium (V), sulphur (S), and phosphorous (P) which are commonly found within black carbonaceous sediments that are favourable host rocks for sediment-hosted zinc mineralisation. The carbonaceous mudstones intersected at Tangadee are similar to those found in the north of the prospect where historical drilling has reported similar intersections of zinc, silver and copper. This suggests that the metalliferous sediments in this region could be very extensive, extending over a strike length of at least 20km. Targeting for increased grades within the carbonaceous sediments is currently being considered under the Strategic Alliance Agreement (SAA) with South32 before a decision is made on the future of this project. Tillkännagivande • Nov 06
AusQuest Limited Provides Paterson Gold-Copper Project Drilling Update AusQuest Limited advised that the initial reconnaissance drilling program has been completed at the Gunanya Project in the Paterson Province of Western Australia under its Strategic Alliance Agreement with South32. A total of seven Reverse Circulation (RC) drill holes (totalling 1,916m) spaced 200m apart across each anomaly were completed to test three magnetic targets in order to determine their potential to host gold and copper mineralisation similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest), located in the northern half of the Paterson Province. Drilling at magnetic Anomaly 3 (GURC05 and 06) intersected fine grained meta-sediments and possible intrusive granodiorite at relatively shallow depth (~90m), with low levels of magnetite (the cause of the magnetic anomaly) occurring within possible altered metasedimentary rocks below approximately 190m and 90m respectively. Sulphides (1 to 10% pyrite) were observed over narrow intervals (5m to 10m) in both drill- holes GURC05 and 06, straddling the contact between a possible intrusion (granodiorite?) and fine-grained sediments (grey siltstones) of the overlying Mundadjini Formation. Target depths at Anomalies 1 and 2 (>250m) were greater than predicted from modelling of the magnetic data, with drilling at Anomaly 2 (holes GURC03, 04) failing to reach the magnetic target due to high water flows encountered in each drill-hole. At Anomaly 1 all drill-holes (GURC 01, 02, 07) intersected basement at depths ranging from ~250m to 280m, but only GURC07 intersected the cause of the magnetic anomaly (magnetite
in altered metasediments below ~296m depth) before the drill-hole had to be terminated (322m) due to excessive water flow. Sulphides (pyrite) were also found in drill-hole GURC07, associated with quartz/calcite veinlets in the Mundadjini Formation and disseminated within basement lithologies immediately below the Mundadjini contact. Drill samples were collected at two metre intervals from each drill-hole and sent to Perth for analysis. Assay results are expected within three to four weeks, at which time an assessment of the drilling results will be undertaken. Tillkännagivande • Oct 12
AusQuest Limited Announces Drilling Commences At Paterson Gold-Copper Project AusQuest Limited announced that drilling has commenced to test several compelling gold-copper targets at the Gunanya Project in the Paterson region of Western Australia under its Strategic Alliance Agreement with South32. The Reverse Circulation (RC) drilling program will consist of 6 to 9 drill-holes for a total of ~1,800m, and will provide an initial test of three magnetic targets to determine their potential to host large-scale gold and copper mineralisation, similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest). The drilling program should take approximately two to three weeks to complete. Drill-holes will be spaced 200m apart and drilled to depths of ~200m, with at least two holes planned to test each of the three targets. Further drilling is possible subject to drill results and ongoing discussions with South32. Drill samples will be sent to Perth for analysis and should be available approximately four weeks after completion of the drilling program. Tillkännagivande • Oct 07
AusQuest Limited Provides Drilling Update At Hamilton Copper Project AusQuest Limited advised that it has now received all assay results from the Stage 2 drilling program at the Hamilton Copper Project in north-west Queensland. The drilling program (comprising seven drill-holes for 2,098m) provided wide-spaced drill coverage around earlier drill-holes WD02009, WD02010 and HMDD03, which displayed strong indications of alteration and potential for nearby copper mineralisation. The holes were designed to test 100 metres of the targeted Proterozoic rocks below the Eromanga Basin sediment cover, in order to provide regional geochemical data over the area containing magnetic targets which are thought to reflect possible Ernest Henry-style mineralisation. Preliminary indications from the geochemical data suggest that potassic alteration occurs within drill-holes HMDD05, 07, and 09, which also contain elevated levels of base metals and gold. These include: Copper - 150ppm up to 3,100ppm Cu; lead - 200ppm up to 1,050ppm Pb; zinc - 300ppm up to 5,000ppm Zn; silver - 0.3gpt up to 1.8gpt Ag (228m to 246m); and elevated gold - 30ppb up to 80ppb Au (255m to 269m) in hole HMDD07; Weakly anomalous copper - up to 300ppm Cu and gold - up to 36ppb Au at the bottom of hole HMDD05 (296m to 303m EOH); and Elevated gold - 20ppb up to 1.1g/t Au (over a 1m interval) near the bottom of hole HMDD09 (288m to 294m EOH). The host rocks are generally high grade metamorphic rocks that were probably a mixture of fine and coarse grained sediments (pelites and psammites) and volcanics (amphibolites), which are known to occur throughout much of the region. Alteration patterns within the drilled area as well as alteration trends within each drill-hole are currently being interpreted using both major and trace element geochemistry to identify potential `vectors to ore' across the prospect and with depth. Re-modelling of magnetic data has been initiated to integrate magnetic susceptibility data obtained from measurements on drill-core into the computer inversion modelling, to help improve target definition and outline possible areas requiring further testing. This assessment process is expected to take several weeks to complete given the complexities of the area and the wide spacing of the drill-holes. The Hamilton Project is located in north-west Queensland, 120km south of the world-class Cannington mine, which is owned and operated by South32. Exploration targeting Iron-Oxide Copper-Gold (IOCG) mineralisation similar to that found at the Ernest Henry mine forms part of the Strategic Alliance Agreement with South32. Tillkännagivande • Oct 03
AusQuest Limited Announces Drilling to Commence at Paterson Gold-Copper Project AusQuest Limited announced that drilling of several compelling gold-copper targets at the Gunanya Project in the Paterson region of Western Australia is set to commence in early October under its Strategic Alliance Agreement with South32. Heritage Clearances have been obtained and a drilling contract signed, with the rig due on site in early October. Access preparations are currently in progress to facilitate the commencement of drilling operations. The Reverse Circulation (RC) drilling program will consist of 6 to 9 drill-holes for a total of 1,800m, and will provide an initial test of three magnetic targets to determine their potential to host large-scale gold and copper mineralisation, similar to that found at Winu (by Rio Tinto) and Havieron (by Newcrest). Drill-holes will be spaced 200m apart and drilled to depths of 200m, with at least two holes planned to test each of the three targets. Further drilling is possible subject to drill results and ongoing discussions with South32. Reported Earnings • Sep 23
Full year earnings released - AU$0.0016 loss per share Over the last 12 months the company has reported total losses of AU$984.8k, with losses widening by 267% from the prior year. Tillkännagivande • Sep 18
Ausquest Limited Announces Tangadee Zinc Project, WA Drilling Update AusQuest Limited advised that the Reverse Circulation (RC) drilling program at the Tangadee Zinc Project in Western Australia outlined in its announcement of 31 August 2020 has been successfully completed under its Strategic Alliance Agreement (SAA) with South32. A total of five widely spaced drill-holes were completed for 1,352m to test down-dip from a large zinc (>1,000ppm Zn) /thallium (>5ppm Tl) soil anomaly that was considered to be the surface expression of potential sediment-hosted zinc mineralisation at depth. Drilling intersected a thick sequence (>200m) of black carbonaceous mudstones containing abundant very fine-grained pyrite (iron sulphide), but no obvious visual signs of significant base metal (zinc) mineralisation. Composite samples were collected over two-metre intervals in every drill-hole and sent to the Genalysis Intertek Laboratory in Perth for analysis. Assays are expected over the coming weeks, after which an assessment of the drilling results will be completed. 
