Australian Gold and Copper Ltd (ASX:AGC) has intercepted encouraging zones of sulphides within quartz veining in Phase 1 reverse circulation (RC) exploration drilling of Carlisle Reef at the Moorefield Project in New South Wales.
The drilling campaign sought to define gold targets over the 15-kilometre-long Boxdale-Carlisle Reefs historic gold trend, drilling 1,070 metres over nine holes.
Exploration findings
Drilling at Carlisle and previous results from Boxdale intercepted what AGC describes as encouraging zones of sulphides consisting of pyrite and arsenopyrite hosted in quartz veining, which were visually logged and analysed with X-ray Fluorescence (pXRF).
The host rocks along the reef trend are interbedded meta-siltstones and sandstones. The mineralisation is preferentially hosted within the sandstone units as the sandstones are brittle, allowing them to fracture and for mineralisation in quartz veins to develop within these fractures.
Gold assays from pre-Christmas drilling at Boxdale are due in late-February, while post-Christmas Boxdale and Carlisle Reefs assays are expected to arrive in March.
The final gold and multi-element assay for Cargelligo’s Achilles target are also still pending, with results expected imminently.
About Australian Gold and Copper
Australian Gold and Copper 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.
These projects are within the Central Lachlan Fold Belt that hosts the Cowal Gold Mine as well as the large copper-gold operations at Northparkes and Cadia Valley.