en.Wedoany.com Reported - At the proEXPLO 2026 conference, Australian company AusQuest announced a significant copper-gold discovery at its Cangallo project in the Arequipa region of Peru. The company's Chief Operating Officer for Peru, Michael Sherington, stated that the project is attracting attention due to its scale, strategic location, and initial drilling results.

"The Cangallo greenfield project represents the best copper discovery in Peru in the last 20 years," Sherington said.

According to Sherington, the company has identified a large-scale copper-gold porphyry system at Cangallo, with mineralization extending from surface to depth. Initial drilling indicates the presence of a large mineralized body, featuring consistent copper zones and high-grade areas. Crucially, the mineralization extends to depths below approximately 700 meters and remains open in multiple directions, offering potential for further expansion.

The Cangallo project is located at an elevation of approximately 1,200 meters, close to the coast, providing easy access to marine, transport, and energy infrastructure, potentially reducing future development costs. Sherington noted that this discovery enhances the exploration prospects of Peru's southern coastal belt, with Cangallo being part of a broader structural corridor where other copper-gold targets have been identified.

AusQuest representatives emphasized that Peru remains an attractive exploration destination due to its geology, infrastructure, and untapped potential.

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