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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	AQD
Latest Price:	0.08 (21.54% )
52-week High:	0.16
52-week Low:	0.05
Market Cap:	18.04M

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AusQuest

AusQuest (ASX: AQD) is exploring within Australia and Burkina Faso, and currently hold more than 39,000 km2 of exploration title spread over 11 project areas.

AusQuest is exploring for several commodities and mineralisation styles including channel- and bedrock-iron ore, strata bound manganese, magmatic nickel-copper-platinum group element sulphides, lode-style gold and iron oxide-copper-gold.

AusQuest wraps up drilling program at Wolfe Manganese Project in WA

Tuesday, November 17, 2009

AusQuest (ASX: AQD) has completed the initial drilling program at its Wolfe Manganese Project, located about 50km south-east of Halls Creek in the Kimberley Region of Western Australia.

Following the announcement, shares in the company increased 1.5c, or 10%, to 16.5c.

Managing director Graeme Drew said 29 of the 38 holes drilled intersected iron bearing clays (+/- manganese) at the target contact position between the Eliot Range Dolomite (ERD) and the Mt Kinahan Sandstone (MKS).

"The clays varied in thickness from 2 to 13 metres and visible manganese mineralisation was reported in six of the holes drilled," Mr Drew said.

"Initial results suggest anomalous manganese may concentrate around cross cutting structures. A shallow dip to the target contact was confirmed."

A Niton XRF Analyser was used to undertake on-site analysis of clay samples for the first seven holes drilled, before it had to be returned to Perth.

Manganese values based on Niton readings were found to range from 1.2% Mn to 7.9% Mn with iron values for the same intervals ranging from 6% Fe to 51% Fe.

Samples from all drill holes have been sent to Perth for analysis.

A full assessment of the results and future directions for the Company’s exploration program at the Wolfe Project will be made once all information and assay data have been assessed.

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