Australian Gold and Copper (ASX: AGC) has received further high-grade reverse circulation (RC) drill results from the Achilles deposit within its South Cobar project in NSW.
Analysis of the returns from the three new RC holes has outlined a clear shallow oxide zone 150 metres in length at Achilles that features silver, gold, and base metal mineralisation.
Highlight hits included 3.0m at 611 grams per tonne silver equivalent from 43m within 22m at 202g/t silver equivalent from 41m, and 8m at 623g/t silver equivalent from 33m within 33m at 174g/t silver equivalent from 31m.
Follow-Up Drilling
Those holes were following-up a previous oxide hole that returned near surface gold-dominant mineralisation, including 5m at 1,851g/t silver equivalent from 30m within 42m at 266g/t silver equivalent from 26m.
While four step-out diamond holes in Achilles’ southeastern corner intersected strong shearing and alteration in the drill core, no significant base metals zones were encountered.
The silver and gold grades were also found to be lower than other areas currently being drilled.
The diamond holes were testing a down-dip extension of a hole that had previously returned 38m at 108g/t silver equivalent from 220m.
Broad Mineralised Zones
“To have such broad high grades of gold and silver near-surface is a real plus," managing director Glen Diemar said.
“It won’t be long now until we start seeing some assays for the depth extensions to this high-grade northern zone.”
The company is awaiting results from twelve holes in total under this zone.
“We have been working hard building on the foundations of our business on numerous fronts this year—adding scale to our Achilles discovery by drilling the depth extensions, conducting regional exploration, and doubling our project area through cost effective acquisitions” Mr Diemar added.
New Regional Targets
Earlier this week, Australian Gold and Copper also reported the identification of two significant regional targets at the South Cobar project.
New RC drilling results confirmed major scale potential along the 6km Achilles Shear Zone that includes the new Achilles Quarry target.
The shear zone contains highly anomalous pathfinders including antimony, molybdenum, and arsenic.
The company considers the presence of these elements integral to identifying higher-grade mineralisation targets.
