Australian Gold and Copper Ltd (ASX:AGC) has a second phase reverse circulation (RC) drill program underway focused on extensions to near-surface gold intersections as well as new targets identified by pXRF soil sampling at Boxdale prospect within the Moorefield Project in central NSW.
There are 25 holes planned for around 2,500 metres in this phase of RC drilling along the 15-kilometre Boxdale-Carlisle Reefs gold-arsenic trend.
To follow-up strong results
This program will follow up previous strong intersections, including:
- 4 metres at 1.25 g/t gold from 41 metres and 8 metres at 1.79 g/t from 51 metres;
- 33 metres at 1.10 g/t from 3 metres including 5 metres at 4.16 g/t from 24 metres and 1-metre at 6.74 g/t;
- 15 metres at 0.85 g/t from 60 metres including 9 metres at 1.10 g/t from 66 metres, and 9 metres at 1.02 g/t from 79 metres including 1-metre at 5.24 g/t from 81 metres;
- 19 metres at 1.28 g/t from 114 metres including 4 metres at 4.3 g/t from 120 metres that also included 1-metre at 9.55 g/t from 123 metres; and
- 15 metres at 1.00 g/t from 85 metre, including 6 metres at 2.1 g/t from 92 metres.
Close to a thousand new pXRF soil points have been sampled since Boxdale’s phase 1 RC drilling and the arsenic in soil results.
Both tighten known anomalies for drill targeting and highlight new areas for follow up.
The +15-kilometre prospective trend from Boxdale to Carlisle Reefs.
Gold pathfinder
Along the Boxdale-Carlisle Reefs trend, arsenic is strongly correlated with gold and arsenic is found in higher concentrations in the soil and therefore is used as a pathfinder to gold.
The style of gold deposits being explored by AGC is Orogenic whereby gold has a strong correlation with arsenic and the gold mineralisation is hosted in brittle fractures in the rock.
Fractures are cemented with quartz/carbonate and sulphides such as pyrite and arsenopyrite. This cementing process creates mineralised veins that host gold.
Such deposits include the world-class, multi-million-ounce Victorian gold deposits, the biggest being Bendigo and Fosterville.