- Australian Gold and Copper (AGC) kicks off phase two reverse circulation (RC) drilling at the Cargelligo Project in NSW
- The start of work at the Achilles target follows delays caused by bad weather
- AGC will drill up to 20 holes on three wide target zones, with some designed to test two new soil anomalies south of Achilles
- Following drilling, a downhole electromagnetic survey is planned at Achilles, as well as aeromagnetic and radiometric surveying of the Cargelligo licence in July
- Company shares are in the grey at 13.5 cents at 1:55 pm AEST
Australian Gold and Copper (AGC) has kicked off a phase two reverse circulation (RC) drilling program at the Cargelligo Project in New South Wales.
The planned work at the project’s Achilles target comes after rain delays and water-logged ground initially slowed commencement.
The program will see up to 20 holes drilled on three wide target zones.
Specifically, the first holes in the program will target the area under a previously reported intercept in hole A3RC004, reinforcing that the eight-kilometre Achilles shear zone has the potential to host significant mineralisation.
In May, this hole returned 46 metres at one per cent lead and zinc, 0.1 per cent copper and two grams of silver per tonne from 73 metres.
The same intersection included an intercept of five metres at 4.9 per cent lead and zinc, 0.3 per cent copper and 5g/t silver from 89 metres and, within that, one metre at 10.7 per cent lead and zinc, 1.4 per cent copper and 12g/t silver from 89 metres.
Additionally, the program will test two new soil anomalies along a three-kilometre strike length, located south of the Achilles target.
Once RC drilling wraps up, AGC will conduct a downhole electromagnetic survey at the prospect shortly after.
A further aeromagnetic and radiometric survey over the whole Cargelligo licence is also scheduled to begin next month. The survey will allow for more precise interpretation of important shear zones and mineralising trap sites, thereby aiding future drill targeting.
On Wednesday, Australian Gold and Copper shares were in the grey at 13.5 cents each at 1:55 pm AEST.