News that caught my eye this week No. 35

AQD update and discussing exploration on the Money of Mine podcast

Mar 10, 2025

G’day all,

Highlights of the week for me were AQD’s update on Cangallo and my guest appearance on the Money of Mine podcast with Vukasin.

It was really good fun discussing exploration with the guys and very much recommend their content. I am certainly a regular viewer.

This appearance has seen a bunch of new subscribers to the stack. If this is you….. welcome. I have a standing request that if you are getting value out of the stack to give it a share.

On with the programing.

The Tracker

YRL- Siona
ARK.V- Elmes Targets
AQD- Cangallo (Update below)

Follow ups

AusQuest Limited-AQD- Drilling to extend Cangallo Cu-Au discovery

AusQuest has made a habit of putting out announcements that I have to re-read several times as they are chunky with info. The company has continued to speculate that the center of the causative porphyry lies undercover west of current drilling. In this announcement they present several lines of evidence to support this, making for a compelling case:

The association of thin tonalite dykes with higher grades suggesting their causative nature, bringing in the hydrothermal fluids and metal.
The inability to account for the large amounts of mineralization and alteration via the small volumes of tonalite dykes present.
Geochemical ratios
Mineralogical zoning

The planned drilling is shown below.

These positions coincide with a previous plan announced in a quarterly of approved drilling platforms. My interpretation of this is that the company, had a pretty good idea in which direction the mineralization will be trending undercover.

The map also shows surface geology and veining intensity. The zone of most intense veining is hosted in outcropping andesites, terminating abruptly against cover.

There are ample examples of sparse outcrop being indicative of and, exploited in the process of discovering undercover porphyry deposits. The “Atacama” project led by David Lowell that discovered Escondida was a campaign based on this exact idea.

Taken from page 9 here for those interested.

I want to make clear that I’m not suggesting this will be Escondida. It’s simply making a comparison of the exploration ideas at work and their validity. All the companies speculation of a undercover porphyry need to be proven.

I’m keen to see how these drillholes pan out and ultimately that the company succeeds. In an earlier interview the company made mention of a nearby Teck project under development. This is Zafranal and I have been using this as a guide as to what intersects may look like if and when the company finds the causative porphyry. Zafranals discovery history is given on page 44 of this technical report. Excerpt below.