AusQuest Limited (AU:AQD) has released an update.
AusQuest Limited has announced significant findings of magnetite mineralization at their Morrissey Project in Western Australia, with drill assays showing substantial iron grade deposits averaging 24-32% Fe and low impurity levels. The results include impressive intercepts up to 116m at 28.3% Fe, indicating potential for high-quality iron ore production. The exploration, part of a Strategic Alliance Agreement, has revealed a strike length of 750 meters, with the deposit open in all directions and lying at shallow depths.
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