Australian Gold and Copper (ASX:AGC) is awaiting assays from 12 more Evergreen holes after intersecting 16m at 5.10 grams per tonne gold (Au) from 61m.
The result comes from reverse circulation (RC) hole EGRC004 at the Western Discovery zone, part of the South Cobar Project in New South Wales, and includes 4m @ 17.50g/t Au from 72m. Meanwhile, EGRC003 returned 6m @ 0.60g/t Au from 34m.
Intercepts are downhole lengths and do not represent true width.
The company completed 21 RC holes for 2,593m, reaching depths of up to 160m. The program tested up-dip and along strike from diamond hole 26DDBR017. It also targeted extensions to shallow mineralisation in 26DDBR013 and 26DDBR017.
The latest assays add to earlier results, including the following:
- 15m @ 4.80g/t Au from 61m in EGRC005
- 13m @ 3.30g/t Au, 264g/t silver (Ag), 0.80% copper (Cu), 4.80% zinc (Zn), and 5.30% lead (Pb) from 99m to end of hole in EGRC008, with mineralisation open at depth
- 17m @ 5.30g/t Au, 163g/t Ag, 0.80% Cu, and 17.3% Pb+Zn from 128m in 26DDBR017
Assays are in for nine RC holes, with EGRC010 to EGRC021 pending.
Results continue to define a broad, gold-rich polymetallic system across western Evergreen. Drilling has outlined mineralisation over 600m in length and more than 400m in depth, with gold mineralisation spanning 1.9km. Drill planning is underway to test gaps of 500m and 300m.
The company is seeking regulatory approvals for further drilling and expects to report the remaining 12 holes once assay results are received.
Managing Director Glen Diemar says the results so far point to a system that extends beyond the holes drilled.
“The discovery is very shallow and remains open along strike and at depth,” Diemar says.
Australian Gold and Copper targets an initial mineral resource estimate at Evergreen in the 2027 financial year.
The company holds a 2,600km² landholding in the South Cobar Basin. Its Achilles discovery hosts a 38.5-million-ounce silver equivalent resource, 58% of which is indicated.
Australian Gold and Copper is an Australian explorer advancing a portfolio of gold, copper, and base metals assets across NSW.
Write to JC Villarba at Mining.com.au
Main image: Australian Gold and Copper
