Australian Gold and Copper Ltd (ASX:AGC) is forging ahead in the hunt for the main mineralisation zone at Achilles copper-gold-lead-zinc target of the Cargelligo Project in the Lachlan Fold Belt of NSW, with positive observations in the first diamond drill hole.
Copper-lead-zinc mineralisation was observed at numerous zones throughout the 546-metre deep hole that demonstrates the potential of Achilles.
A 5-metre interval of semi-massive pyrite at 220 metres indicates that massive copper sulphides could be in the vicinity.
Hunting for copper at Achilles
AGC has been pursuing the main copper mineralisation zone at the Achilles target since early this year, closing in on its target with every exploration program.
The company found zones of strong alteration and base metal sulphides above a large electromagnetic (EM) conductor and the diamond drill hole observations indicate they are potentially closing in on massive copper sulphides.
These massive copper sulphides are often conductive, so down hole EM will begin next week to better understand the positioning of these conductors.
Quartz flooding with stringers of chalcopyrite (copper) at 440 metres downhole.
Zones of disseminated chalcopyrite and broad intense silica flooding alteration were identified through the second half of the hole where the AEM anomaly was positioned. This demonstrates that a large hydrothermal system has been the driver of metals at Achilles.
The AGC exploration team has confidence that the Achilles target has potential to host significant mineralisation due to the geological setting, intensity of alteration and mineralisation intersected to date.
Diamond core is currently being cut and sampled and assays are expected in December.
Boxdale drilling
The company also intends to begin a step-out reverse circulation (RC) drilling program at Boxdale, within the Carlisle Reefs Gold Trend of the Moorefield Project, 75 kilometres north of the Cowal Gold Mine in NSW.
RC holes will step out from the significant intercepts identified from previous drilling by Gold Fields Ltd and Magmatic Resources.
About the company
Australian Gold and Copper Ltd is an exploration company focused 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 gold or copper-gold discovery.