AusQuest Intersects Significant Magnetite at Morrisey Project in WA

AusQuest Limited (ASX: AQD) has reported the successful intersection of coarse-grained magnetite at five out of six drill targets at its Morrisey Project in Western Australia. The RC drilling program, conducted under the Strategic Alliance Agreement, yielded encouraging magnetic susceptibility readings exceeding 200 x 10⁻³ SI units, suggesting high magnetite content across several prospects including Waterfall, Sandfly, and Murchison.

Samples have been sent to Intertek Genalysis for Davis Tube Recovery (DTR) testing to assess their potential for producing premium-grade iron concentrate (>70% Fe), as previously demonstrated at the Waterfall Prospect. The results are expected within 4–6 weeks. Managing Director Graeme Drew highlighted the promising scale and continuity of the magnetite-bearing formations, expressing optimism for similar high-grade outcomes. These developments strengthen the commercial outlook of the Morrisey Project, with further assay and test results to follow in the coming weeks.

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