AusQuest (ASX:AQD) eye Mid West magnetite production

AusQuest testwork has confirmed the potential to produce premium magnetite ironstone from its Morrissey Project in the heart of Western Australia’s Mid-West region.

Beneficiation on magnetite-rich iron formations discovered at the site’s Waterfall and Sandfly prospects produced premium-grade iron concentrate (>70% Fe) with shallow impurities.

Excitingly, the high grades came from a simple magnetic separation process producing +70% Fe course grind concentrate.

AusQuest’s Managing Director Graeme Drew said it is an exciting moment taking into account the site’s yet to be fully realised large tonnage potential.

“Given the positive results from the Davis Tube test work, shareholders can look forward to more detailed assessments of the magnetite potential of this project over the coming quarters,” he said.

“While we are planning to test the iron potential of this Project further, we are also actively pursuing nickel-copper-PGE opportunities in this area – which was the prime reason for acquiring the tenements in the first place following the discovery of the Julimar nickel-copper- PGE deposit north of Perth.

Waterfall and Sandfly magnetics showing drill-hole locations and Fe concentrate grades

Price Action

The Company’s ASX-listed shares are 1.5c at pre-Market Open.

Next Step

Further exploration to determine the scale of mineralised systems is planned for the coming months.

About AusQuest

Ausquest Limited (ASX:AQD) is a mining company exploring Australia and Peru. The Company holds more than 5,000 sq km of exploration title (granted tenements and applications).

Fundamental Data

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