Could AusQuest’s Mt Davis Drilling Unlock High-Grade Base Metals?
AusQuest Limited’s recent reconnaissance drilling at its Mt Davis Project in Western Australia has revealed promising lead, copper, and silver anomalies, suggesting potential for sediment-hosted base metal deposits.
- Reconnaissance RC drilling returns up to 2.8% lead at Mt Davis
- Nine-hole program targets VTEM geophysical anomaly within Earaheedy Basin sediments
- Anomalous copper and silver accompany significant lead intersections
- Project under Strategic Alliance Agreement with South32 Ltd
- Next exploration steps pending joint assessment with South32
Early Exploration Success at Mt Davis
AusQuest Limited (ASX, AQD) has announced encouraging early-stage results from its reconnaissance reverse circulation (RC) drilling program at the Mt Davis Project, located in Western Australia’s Earaheedy Basin. The nine-hole, 1,884-metre drilling campaign targeted a discrete electromagnetic anomaly identified by VTEM surveys, aiming to test for sediment-hosted base metal mineralisation.
The assays revealed anomalous concentrations of lead, copper, and silver within weathered sedimentary rocks. Notably, one drill hole returned a peak lead grade of 2.8% from 80 metres depth, alongside copper and silver values that reinforce the prospectivity of the area. These results mark a significant milestone given the limited prior drilling in this underexplored region.
Geological Context and Strategic Partnership
The Mt Davis Project is situated on the northern margin of the Earaheedy Basin, a geological setting known for hosting sediment-hosted copper, lead, and zinc deposits. The anomalous metals appear associated with carbonaceous cherty mudrocks, which correlate with the targeted VTEM conductor. This geological signature bears resemblance to prolific sediment-hosted deposits found in north-west Queensland, raising hopes for a similar discovery.
Importantly, the project operates under a Strategic Alliance Agreement with a wholly owned subsidiary of South32 Ltd, a major player in the mining sector. This partnership provides AusQuest with access to technical expertise and potential funding, with next steps in exploration to be determined collaboratively. The alliance underscores the commercial interest in Mt Davis and the potential for advancing the project.
Looking Ahead, Assessing Potential and Planning Next Steps
While these initial results are promising, AusQuest’s Managing Director Graeme Drew cautions that it is still early days. The company plans to undertake a thorough assessment of the assay data in consultation with South32 before deciding on further drilling or exploration activities. The true width and continuity of the mineralisation remain unknown, necessitating additional work to evaluate economic viability.
This cautious optimism reflects the typical trajectory of early-stage exploration, where initial geochemical anomalies must be rigorously tested and contextualised. Should subsequent drilling confirm the extent and grade of mineralisation, Mt Davis could emerge as a significant new base metals prospect within Western Australia’s mineral-rich landscape.
Bottom Line?
AusQuest’s Mt Davis results open a promising chapter, but the path to a viable deposit requires careful, collaborative exploration.
Questions in the middle?
- Will further drilling confirm the continuity and true width of the base metal mineralisation?
- How will South32’s involvement shape the pace and scale of upcoming exploration activities?
- What are the potential economic implications if Mt Davis yields a deposit comparable to those in north-west Queensland?
