Australian Gold and Copper (ASX:AGC) - Managing Director, Glen Diemar
Managing Director, Glen Diemar
Source: Glen Diemar/LinkedIn
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  • Australian Gold and Copper (AGC) intersects strong surface gold assays from its reverse circulation (RC) drilling program at the Carlisle Reefs gold target in NSW
  • Nine RC holes were drilled at Carlisle Reefs to target historical mine workings and extensions from previous programs
  • The best results from this current program came from hole CRRC009 which intersected up to 3.8g/t gold
  • Samples are pending for a further 23 RC holes drilled at Boxdale with assays expected to be received in late June
  • AGC ends the day 1.11 per cent in the red with shares trading at 8.9 cents

Australian Gold and Copper (AGC) has intersected strong surface gold assays from its reverse circulation (RC) drilling program at the Carlisle Reefs gold target in NSW.

The Carlisle Reefs target lies within the 15-kilometre Boxdale-Carlisle Reefs gold trend at the Moorefield project.

Nine RC holes were drilled at Carlisle Reefs to target historical mine workings and extensions from previous programs.

Previous results include two metres at three g/t gold from 116 metres, and 30 metres at 1.6 g/t gold from 80 metres including 11 metres at 2.7 g/t gold from 95 metres.

The best results from this current program came from hole CRRC009 which intersected 14 metres at 0.8 g/t gold from 134 metres including one metre at 3.8 g/t gold from 135 metres.

Mineralisation is open to the north and south along strike and the results highlight the growth potential of the Boxdale-Carlisle Reefs gold trend.

“These results are very exciting for AGC given this 15-kilometre trend continues to deliver gold intercepts at both the north-western (Boxdale) and south-eastern (Carlisle Reefs) ends,” Managing Director Glen Diemar commented.

“This proves the fertility and the potential for significant upside at both Boxdale and Carlisle Reefs and potentially in between.”

“A large near-surface gold discovery is our goal here and, to date, Boxdale has delivered
the strongest results and we eagerly await the next batch of assays from Boxdale’s 23-hole RC program.”

Samples are pending for a further 23 RC holes drilled at Boxdale with assays expected to be received in late June.

Since December, 5000 metres have been drilled at Boxdale and Carlisle, targeting areas of elevated arsenic in soil and extensions to previous drilling.

AGC has ended the day 1.11 per cent in the red with shares trading at 8.9 cents. The company has a $9 million market cap.

AGC by the numbers
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