Australian Gold and Copper Ltd (ASX:AGC) has revealed a 20-kilometre-long magnetic body beneath the Boxdale-Carlisle Reefs gold trend from 3D magnetic survey data, highlighting the potential for a large, mineralised ore body at the Moorefield Gold Project in New South Wales.
AGC has interpreted the magnetic body to be the source feeder for gold mineralisation in the overlying deformed rock layers, essentially “seeding” the Boxdale-Carlisle Reefs gold target zone with mineralisation from depth.
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Schematic long section of the Boxdale (NW) – Carlisle Reefs (SE) gold zone showing a 20-kilometre-long elongate ultramafic magnetic body below the recent soil sampling areas where drilling has returned shallow gold.
The company believes the large size of the magnetic body provides scope for a sizeable gold system, further evidenced by promising drill intercepts such as 4.16 g/t gold from 24 metres within 33 metres at 1.10g/t gold from 3 metres.
AGC has completed a round of reverse circulation drilling over the Boxdale target, drilling 23 holes for 2,370 metres.
Some 3,440 gold assays are now pending from drilling at both Boxdale and Carlisle Reefs within the Moorefield Project in the Central Lachlan Fold Belt.
Within this prolific belt that hosts the Cadia Valley, Northparkes and Cowal operations, the company also has the Cargelligo and Gundagai projects.
Watch: Australian Gold and Copper discovers a trend within a trend at the Boxdale-Carlisle Reefs gold trend