Australian Gold and Copper (ASX:AGC) has uncovered ten high-priority exploration targets at the Achilles Shear Zone in New South Wales.
These ten targets will be tested by aircore drilling early next year, with deeper reverse circulation drilling expected to follow on the highest potential targets. Reverse circulation drilling will be carried out once the aircore data is received and evaluated.
Managing Director Glen Diemar says this will be the largest shallow aircore drilling campaign ever undertaken in the area
“This will map surface geochemistry trends important for discovering new mineralisation and extensions to Achilles,” Diemar says.
This news comes after the company conducted a flown high-resolution drone magnetics survey over the Achilles deposit and the broader Achilles Shear Zone.
Australian Gold and Copper, which has a market capitalisation of $41 million, says the first-pass interpretation on the drone magnetics data highlights the Achilles deposits’ silver-gold mineralisation is associated with northwest structures that splay from the main Achilles shear structure.
Diemar says capturing “large-scale” systematic datasets set explorers up for decades of discovery.
“To aid our ongoing march towards new discoveries, we now have numerous systematic datasets including 100m spaced aeromagnetics, 25m spaced drone magnetics and induced polarisation geophysics the length of the shear,” he says.
“The recognition of the northwest structures at Achilles is a significant step in our understanding of the controls on mineralisation and opens the door for material increases to high-grade mineralisation in the immediate Achilles deposit.”
Australian Gold and Copper is an explorer focused on discovering and developing its multi-asset gold portfolio which sits in the Lachlan Fold Belt in New South Wales.
Write to Aaliyah Rogan at Mining.com.au
Images: Australian Gold and Copper
