Australian Gold and Copper (ASX:AGC) has completed a maiden reverse circulation (RC) drilling campaign at its Grandview gold target in Gundagai, New South Wales.
The maiden RC campaign, comprising 6 drillholes for a total of 936m down hole along a 350m strike length, has intercepted zones of extensive quartz-carbonate-pyrite veining over 20-50m widths.
With the maiden RC drilling campaign now complete, AGC announces that a planned drillhole under the historic mine adit was unable to be completed due to extensive heavy rainfall, however further assays are expected in late September.
Addressing the campaign, AGC Managing Director Glen Diemar said: “Our Grandview drilling has delivered some very attractive looking rocks.
“Our Grandview drilling has delivered some very attractive looking rocks”
Our first hole targeted underneath a historic hole to learn what the mineralisation looks like, then to consistently hit wide zones of similar or better stockwork veining in all holes was very exciting.
The northern most hole GVRC006 had the strongest alteration and vein development, which means it has strong potential to the north and gives us potential for extensions under cover. Given the modest veining density in GVRC001 under the historic hole, the northern hole GVRC006 is very encouraging.”
The company also notes that handheld pXRF analysis on drill samples taken from all drillholes demonstrated elevated arsenic that is associated with the stockwork veining.
In addition, the final and northernmost drillhole (GVRC006) returned the strongest development of quartz-carbonate-veining, delivering ‘significant’ untested potential along strike.
The Grandview gold target is located within the company’s Gundagai Project in Gundagai, New South Wales and covers a total land area of 265km-square across one exploration licence and comprises multiple drill ready prospects that are considered prospective for McPhillamys-style gold mineralisation.
The hosted prospects show similarities to the Late Silurian (ASX:RRL) hosted McPhillamys 2.3Moz gold deposit.
Images: Australian Gold and Copper Ltd
