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- Australian Gold and Copper (AGC) has received the assay results from its first reverse circulation (RC) drilling program at the Achilles target within the Cargelligo Project in NSW
- The maiden program comprised seven holes drilled over 1242 metres
- Notably, assays have identified a strong base-metal sulphide zone above a large electromagnetic conductor
- The most significant results hailed from hole A3RC004, which intersected five metres at 4.9 per cent lead and zinc, 0.3 per cent copper and 5g/t silver from 89 metres
- The explorer says these results and other notable intercepts from the program have reinforced the prospectively of Achilles
- Meanwhile, AGC says transported sand and cover are concealing soil anomalies that lie immediately east of Achilles hills
- Looking ahead, a further RC program is planned to start in late May, while an air core program is scheduled to begin in late June to test the Achilles trend
- Australian Gold and Copper shares have dipped 5.88 per cent to trade at 16 cents each
Australian Gold and Copper (AGC) has received the assay results from its first reverse circulation (RC) drilling program at the Achilles target within the Cargelligo Project in New South Wales.
The maiden program comprised seven holes drilled over 1242 metres and identified a strong base-metal sulphide zone above a large electromagnetic conductor.
According to AGC, the most significant results hailed from hole A3RC004, which intersected five metres at 4.9 per cent lead and zinc, 0.3 per cent copper and 5g/t silver from 89 metres.
The intercept included one metre at 10.7 per cent lead and zinc, 1.4 per cent copper and 12 g/t silver from 89 metres.
Mineralisation in the hole hit banded and disseminated base-metal sulphide mineralisation, including galena, sphalerite and chalcopyrite — making it a significant interval for a maiden drilling program in the Southern Cobar Basin.
Importantly, the explorer says these results and other notable intercepts from the program have reinforced the prospectively of Achilles.
In particular, AGC says data indicates that the eight-kilometre Achilles shear zone has the potential to host significant mineralisation.
Concealed geology to the east
Meanwhile, the company says transported sand and cover is concealing geology and soil anomalies that lie immediately east of Achilles hills.
As part of its maiden program, AGC drilled hole A3RC005 500 metres to the east, demonstrating the prospective zone is not only confined to the hills but also open to the east and concealed under shallow cover.
The latest discovery enables AGC to plan further programs.
Follow-up drilling and exploration
Looking ahead, a soil sampling program is already underway along the Achilles corridor, testing for extensions to the target’s soil anomaly along the eight-kilometre trend to the south.
AGC has also contracted a rig for a further RC drilling program scheduled to start in late May, which will test underneath and down dip from A3RC004 before heading to the Moorefiled Gold Copper Project.
More regionally, an air core program is planned to start in late June to test the eight-kilometre Achilles trend, where soil sampling is ineffective due to sand cover.
Australian Gold and Copper shares have dipped 5.88 per cent to trade at 16 cents at 12:52 pm AEST.
