Australian Gold and Copper (ASX: AGC) has announced exceptional gold-silver-copper-lead-zinc grades from three holes of an ongoing diamond drilling program at the Achilles discovery in New South Wales’ prolific Cobar Basin.
A zone of sulphide mineralisation delivered one of the project’s best intersections to date of 6 metres at 2,474 grams per tonne silver equivalent (11g/t gold, 942g/t silver, 0.8% copper, and 17.9% lead-zinc) from 212.65m, including 0.9m at 5,332g/t AgEq (32.9g/t gold, 1,490g/t silver, 1.4% copper and 27.8% lead-zinc from 216.1m.
The zone is located approximately 100m from a reverse circulation hole the company drilled in October that featured a broad zone of high-grade silver-gold and base metal mineralisation, with a best intercept of 5m at 1,204g/t AgEq from 141m, within 29m at 370g/t AgEq from 125m.
Northern High-Grade Zone
Fourteen holes have now been completed to test the down-dip extent of the high-grade zone in the northern portion of Achilles, which has been drilled across a width of 150m from near surface to a depth of more than 250m.
Best assays from the three holes were 1.7m at 272g/t AgEq (0.2g/t gold, 71g/t silver, 0.3% copper and 6.6% lead-zinc from 179.7m; 5m at 158g/t AgEq (0.6g/t gold, 36g/t silver, 0.1% copper and 2.3% lead-zinc) from 197m, including 1.0m at 523g/t AgEq (2.7g/t gold, 147g/t silver, 4.3% lead-zinc) from 198m; and 2m at 218g/t AgEq (0.7g/t gold, 129g/t silver, 0.1% copper and 0.9% lead-zinc) from 334m.
The zone remains open, and the company expects results for the remaining 11 holes over the coming weeks.
Value-Enhancing Program
Managing director Glen Diemar said the new results further enhance the value delivered by consistent follow-up drilling.
“Our aim this year was to keep the diamond rig in locations with potential for very high grades to enhance our knowledge of the geology and the structural complexity at Achilles, and we believe this strategy is paying off,” he said.
“The intersection of 6m at 2,474g/t silver equivalent ranks as one of our best holes to date—to receive these results at a time when the silver price is hitting new highs is serendipitous.”
