Australian Gold and Copper (ASX:AGC) has reported assay results from its deepest drill hole at the Achilles Project, intersecting mineralisation 540m down dip from surface.
Hole A3DD014 returned 26m @ 102 grams per tonne silver equivalent (AgEq) from 433m, including 15m @ 153g/t AgEq and 2m @ 770g/t AgEq from 440m.
The intersection sits approximately 250m below the base of the current mineral resource estimate (MRE).
Australian Gold and Copper holds a 2,600km2 landholding across the South Cobar Basin in New South Wales. Achilles hosts an initial 38.5-million-ounce AgEq, with 58% indicated.
Nearby hole A3DD016 also returned 3m @ 97g/t AgEq from 332m, including 1m @ 130g/t AgEq from 333m.
“A3DD014 is the deepest hole drilled at Achilles to date and has returned the strongest result from the recent depth-extension drilling program. This is an excellent result and confirms the Achilles mineral system remains open and fertile hundreds of metres below the current resource,” Managing Director Glen Diemar says.
“These deeper results are important for long-term planning. They provide further confidence as we assess future underground mining potential, resource growth and development options for the deposit.”
The hole was drilled approximately 60m below and east of the first two deep step-out holes reported in July. The company says the completed step-out drilling program confirms mineralisation well below the current MRE.
The Achilles MRE starts at surface and continues to approximately 250m down dip. The depth-extension drilling has now intersected mineralisation to at least 540m.
Plans for next-phase exploration are underway at Achilles, focusing on shallow reverse circulation (RC) drilling targeting oxide gold-silver mineralisation.
Australian Gold and Copper says the program is expected to be lower cost, faster to drill, and aligned with near-surface resource growth.
Diamond drilling continues at the Evergreen Project with 16 diamond core holes completed and a 17th underway. Once complete, RC drilling is expected to commence in August, focusing on the shallow near-surface oxide zone.
The company is targeting an initial MRE at the Browns Reef-Evergreen precious and base metal deposit. At Junee, Australian Gold and Copper has commenced field activities at Mount Illabo, with a large soil sampling program and drill permitting underway.
Australian Gold and Copper is an exploration company focused on silver, gold, and copper in New South Wales.
Write to France Pinzon at Mining.com.au
Images: Australian Gold and Copper
