AusQuest reveals copper discoveries in mining project in Arequipa: expectations of potential resource.

The Australian company AusQuest has recently made public the results of the latest drilling program carried out at its Cerro de Fierro project, located in the Arequipa region. The findings confirm the presence of copper mineralization in the deposit, generating expectations of a considerable resource at depth. Reverse circulation drilling in three holes up to 800 meters deep has yielded results similar to previous drillings, with multiple copper zones intercepted. As reported by the mining company, during the drilling, a complex of dikes and dacite rock thresholds has been found over the target andesitic volcanic formations, which are the main copper-hosting rocks in the area. These discoveries have led to suggesting the possibility of deeper mineralization, several hundred meters north of the current drilling location, according to previous magnetic studies. The potential for a significant copper resource at Cerro de Fierro has been highlighted by AusQuest's executives, who have stated that the company is awaiting the results of a geochemical study along with data from previous drillings to properly evaluate the project. It is important to note that this deposit is just one of four large-scale copper and gold mantle and porphyry targets identified in the region, which are planned to be drilled in the next six to twelve months. The Cerro de Fierro project is located at the southern end of an iron oxide, copper, and gold metallogenic belt, about 150 kilometers from the Mina Justa deposit, currently operated by the Marcobre joint venture. This strategic location within a mining potential area has sparked the interest of the industry community, as the discovery of new copper sources is crucial for the Peruvian economy, which has mining as one of its fundamental pillars. AusQuest's market capitalization amounts to US$10.72 million, reflecting investors' confidence in the potential of the Cerro de Fierro project and the company's ability to continue exploring and developing significant mineral deposits. The continuity of copper mineralization in the deposit is a positive indicator for the future of the operation, which is in an early exploration stage and closely monitored by the national and international mining industry. In a context where the demand for minerals like copper continues to rise globally, the identification and development of new deposits becomes crucial to ensure a constant supply of this important resource for multiple industries. AusQuest positions itself as a relevant player in the search for new copper sources in Peru, a country with a long mining tradition and geological potential still being explored for new investment and economic development opportunities in the sector.