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Company Announcement:Priority nickel targets identified at Dundas

3rd April 2013

By: Creamer Media Reporter

  

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AusQuest Limited  (0.74 MB)

AusQuest Limited  is pleased to announce that it has identified up to four priority targets for nickel exploration from a recently completed VTEMMax survey at its 100%-owned Dundas Project, located ~80km south of the world-class Nova nickel-copper discovery. The VTEM survey (~320kms) was designed to test for massive sulphide mineralisation in proximity to broad zones of anomalous nickel and copper geochemistry outlined by a prior regional surface sampling program. The survey has identified two strong and two moderate conductors for immediate follow-up at Dundas.

The two strongest anomalies (A & B) appear limited in strike length (~400 metres), although conductor ‘B’ is not fully defined. The conductors occur close to anomalous surface nickel geochemistry and are closely associated with domal and/or intrusive structures interpreted from the Company’s detailed aeromagnetic data. The limited strike extent and high conductance inferred for both conductors suggests a probable sulphide source at relatively shallow depths (<100 metres). Conductors C and D are less conductive but appear to be more closely associated with the anomalous nickel surface geochemistry as well as the interpreted domal and/or intrusive structures.
 Ground EM surveys and detailed surface geochemical programs have been designed to further evaluate these targets and optimise sites for future drilling. This work will commence as soon as a suitable geophysical crew is available (probably in late April) and will take several weeks to complete.

Edited by Creamer Media Reporter

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