Remarkable Gold Find Bolsters Gold and Copper Ltd's Achilles Prospect
In the South Cobar Basin of New South Wales, Australian Gold and Copper Ltd (ASX: AGC) has made a significant breakthrough with its Achilles discovery. The company has announced exceptional near-surface gold results, marking what Managing Director Glen Diemar described as the "best gold intercept to date."
The exceptional hole, A3OX010, returned 5m at 19.1g/t gold, 52g/t silver, 1.3% Pb+Zn (1,851g/t AgEq) from a depth of 30m. Within this hole, there was a broader zone of 42m at 2.6g/t gold, 12g/t silver, 0.7% Pb+Zn (266g/t AgEq) from 26m.
Other noteworthy results include A3OX011, which returned 18m at 91g/t AgEq (0.4g/t Au, 5g/t Ag & 2.0% Pb+Zn) from 25m, and A3OX015, which yielded 12m at 101g/t AgEq (0.5g/t Au, 31g/t Ag & 1.0% Pb+Zn) from 60m. A3OX009 returned 16m at 68g/t AgEq (0.3g/t Au, 16g/t Ag & 1.0% Pb+Zn) from 54m, and A3OX018 returned 5m at 136g/t AgEq (0.6g/t Au, 80g/t Ag & 0.06% Pb+Zn) from 67m.
The exceptional hole was drilled 70m up-dip from previously reported hole A3RC038. Hole A3RC066 also yielded 7m at 291g/t AgEq from 239m.
The high-grade near-surface gold potential could significantly enhance project economics through lower mining costs and faster payback periods. The discovery is a substantial precious and base metal system.
The ongoing diamond drilling is targeting down-dip extensions of these recently reported RC holes, focusing on the southern silver-gold zone and the southern Achilles Shear Zone. The exploration efforts at Achilles are ongoing with assays pending for 11 drill holes.
The location of the Achilles discovery is in a world-class mining jurisdiction. The company continues to increase its land position in the South Cobar region, building a belt-scale opportunity. The responsible parties for the drilling operations are the company's internal exploration and technical teams.
The silver equivalent values reported by AGC are based on in-situ metal grades and assume recoverable sales of all constituent metals. The active exploration program is expected to provide a steady flow of news in the coming months.
The project offers multiple metal credit opportunities with gold, silver, lead, zinc, and copper present in meaningful quantities. This development underscores AGC's commitment to delivering shareholder value through the discovery and development of world-class mineral deposits.
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