AusQuest (ASX: AQD) has commenced detailed airborne electromagnetic survey to explore for nickel-copper sulphide deposits at its Dundas project in Western Australia.
The project is located about 80 kilometres south of Sirius Resources' (ASX:SIR) Nova nickel-copper discovery.
AusQuest had earlier identified at least four low-level, up to 110 parts per million Ni and 170ppm Cu, anomalies from the regional surface sampling program.
Previous rotary air blast drilling results also confirm the presence of mafic and ultramafic lithologies, that are considered preferred hosts to nickel sulphide mineralisation.
The airborne survey of about 350 kilometres, which covers an area of about 100 square kilometres, will be flown using the new VTEMmax system which has improved depth penetration capabilities.
The survey is expected to take several days to complete and data processing will take a further 2-3 weeks.
AusQuest spent $883,000 in exploration and evaluation last quarter and is likely to spend $875,000 this quarter.
It ended the quarter with $2.81 million in cash.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.