AusQuest Limited (AU:AQD) has released an update.
AusQuest Limited has commenced drilling at the Morrissey Project to estimate the magnetite resource potential, while identifying promising base metal targets at Balladonia, Australia. In Peru, the company is gearing up for drilling at the Cangallo Porphyry Copper Prospect after receiving final approvals and continues to seek joint venture partners for its copper projects. Financially, AusQuest is poised with approximately $2.6 million in quarter-end cash and expects further funding under the agreement with South32 in the upcoming quarter.
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