Australian Gold and Copper (ASX:AGC) has confirmed through step-out drilling that the Achilles mineral system extends more than 200m below the current resource at the Cargelligo Gold Project in New South Wales.
The results extend the system to more than 400m down dip, based on four completed drill holes.
The four holes completed were intended to target extensions to the northern ‘high-grade’ zone beneath the current Achilles resource estimate.
Intercepts include 14m @ 85 grams per tonne silver equivalent (AgEq) from 388m, including 4m @ 181g/t AgEq from 388m and 1m @ 400g/t AgEq from 390m at drill hole A3DD015, as well as 9.7m at 56g/t AgEq from 434m, including 2m at 80g/t AgEq from 439m and 0.7m at 138g/t AgEq from 443m from hole ASDD013.
Australian Gold and Copper is still awaiting assays from holes ASDD014 and ASDD016.
Managing Director Glen Diemar says the company is on its way to achieving its company goal for 2026: Increasing contained ounces at Achilles through extensions of the initial resource while leveraging the value attributed to these ounces.
“These new results demonstrate that the Achilles mineral system remains open and fertile at depth, with mineralisation now confirmed beyond 400 metres down dip,” Diemar says.
“Our confidence builds as we continue to demonstrate the scale potential of this deposit.
“Importantly, assays from two further deep holes are still pending and will provide additional information on the scale potential of the system.
“The drill rig continues at Evergreen, following strong first results, with further assays expected over the coming weeks. By the end of the year, we aim to have materially increased the company’s mineral endowment at South Cobar.”
Drilling at Evergreen is intended to determine an initial resource estimate at the Browns Reef–Evergreen precious and base metals deposit.
Australian Gold and Copper has also planned a shallow reverse circulation drilling campaign for its Achilles discovery next, targeting extensions to ‘strong’ oxide gold-silver mineralisation uncovered last year.
Meanwhile, results from aircore drilling at Tooronga are currently being interpreted alongside bottom-of-hole samples, while the company has begun field activities at the Junee Gold Project.
The company is integrating the historical database for Junee, with drill targeting being advanced across several priority prospects.
Australian Gold and Copper is a silver, gold, and copper explorer focused on advancing assets in the central Lachlan Fold Belt of New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Australian Gold and Copper
