Company
ASX:AGC
Australian Gold and Copper Ltd (ASX:AGC) is an exploration company with a focus on the exploration and development of a multi-asset gold and gold-copper portfolio in the world-class Lachlan Fold Belt in New South Wales. The wholly-owned Moorefield, Cargelligo and Gundagai projects cover about 1,000 square kilometres and contain numerous drill-ready targets identified by multiple datasets and each provide the opportunity for a major gold or copper-gold discovery in NSW.
55 stories · page 3 of 3
AGC has identified arsenophyrite and pyrite-hosted sulphides within quartz veining along the Carlisle Reef trend, offering targets for further exploration once assays are returned in the coming months.
The drill rig will now turn its attention to the Carlisle Reefs target, where it is expected to execute eight planned holes on the hunt for extensions to known gold mineralisation.
The cash injection will support drilling activity at AGC’s Achilles target — a prospect within the Cargelligo copper-gold/base-metal project in the southern Cobar Super-Basin.
The new areas are surrounded by some of the world’s major copper miners and put the company in a strong position to benefit from others’ success in the belt.
The gold and copper explorer kicked off reverse circulation drilling and a ground magnetics survey after a historical data review defined three gold targets.
The company has furthered its understanding of the lithologies of the Achilles target in the Cargelligo Project, with geological features pointing to the presence of massive copper sulphides.
A diamond drill is working to uncover a broad copper zone within a 3-kilometre base metal target, with previous drilling encountering an 85-metre copper hit.
The webinar on Tuesday, September 21 will feature Australian Gold and Copper, Magmatic Resources and Sipa Resources.
Following the results from phase 2 RC drilling that indicate a copper zone strengthening towards an aerial EM conductor, the company is mobilising a diamond rig next week.
The company is planning a phase 3 diamond drill program pending favourable assays which are expected in late September.
Following the encouraging results, the company is mobilising a drill rig to the Achilles target to test underneath the recent copper and base-metal intercepts.
The total length of known base-metal soil anomalies has extended from 350 metres to 3 kilometres, and all three anomalies are considered open.
During the drilling, the company intersected zones of strong alteration and base-metal sulphides above a large EM conductor.
The company has secured a reverse circulation drill rig for more than 7,000 metres of discovery focused drilling on its Lachlan Fold Belt projects, which is expected to start in late January.
