Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Australian Gold and Copper Ltd (ASX:AGC).
The company has received high-grade results from the first two diamond drill holes at its Achilles discovery, part of the South Cobar Project in New South Wales.
These early results from the 10-hole drilling program highlight substantial mineralisation in gold, silver and base metals, supported by assays from Hole A3DD004.
This hole revealed a 9.1-metre section grading 3 g/t gold, 698 g/t silver, 1.2% copper and 19.4% combined lead and zinc, including a 2.5-metre higher-grade subsection with 6.7 g/t gold and 1,625 g/t silver.
AGC says that the mineralisation is structurally controlled by the Achilles shear zone, producing consistent, high-grade results across rock types.
Insights gained from this diamond drilling are expected to guide future drill targeting, enhancing AGC's exploration strategy. The company has completed core processing and is awaiting further assay results.
AGC has also announced plans for a drone magnetic survey to identify additional mineralised structures, alongside a systematic aircore drilling program aimed at exploring near-surface mineralisation, both of which are expected to expand discovery potential.