viewAustralian Gold and Copper Ltd

Australian Gold and Copper drilling defines three base metal zones in Cobar Basin

Following the encouraging results, the company is mobilising a drill rig to the Achilles target to test underneath the recent copper and base-metal intercepts.

Australian Gold and Copper Ltd drilling defines three base metal zones in Cobar Basin
Drilling was completed in March with 1,075 metres drilled across six holes.

Australian Gold and Copper Ltd (ASX:AGC) has received encouraging drill assay results and subsequent soil sampling results at Mount B copper-gold and base metals target within the Cargelligo Project, southern Cobar Basin in central NSW. 

Drilling was completed in March with 1,075 metres drilled across six holes. 

It has received assays from first-pass drilling at Mount B copper-gold and base metals target, along with a soil sampling program (pXRF), which was completed post-RC drilling while waiting for assays.

Highly encouraging results

Mount B’s first drill results are highly encouraging and the best results from the hole MBRC005 include:

➢ 6 metres at 0.2% lead and zinc from 10 metres;

➢ 60 metres at 3 g/t silver, 0.3% lead and zinc from 100 metres including 1 metre at 1.0 g/t gold, 0.2% lead and zinc from 153 metres;

➢ 1-metre at 0.4 g/t gold from 159 metres; and

➢ 8 metres at 0.6% lead and zinc from 166 metres.

Significant results from MBRC006 include:

 64 metres at 7 g/t gold, 0.3% lead and zinc from 72 metres (60 metres vertical depth below surface):

➢ Including 7 metres at 0.2 g/t gold from 91 metres;

➢ Including 1-metre at 0.5 g/t gold, 12g/t silver, 0.1% copper, 1.1% lead and zinc from 95 metres;

➢ Including 1-metre at 41 g/t silver, 1.3% lead and zinc from 108 metres;

➢ Including 6 metres at 0.1 g/t gold, 19 g/t silver, 0.2% copper, 0.4% lead and zinc from 118 metres;

➢ Including 1-metre at 0.1 g/t gold, 53g/t silver, 0.8% copper, 1.0% lead and zinc from 123 metres; and

➢ EOH assay of 1-metre at 0.3% lead and zinc from 149 metres (open at depth).

Mineralisation hosted volcanic and sediments

Although overall grades are modest, widths are encouragingly wide and shallow and there are higher grades within which is significant when placed in the context of the style of ore body being targeted.

The drilling intersected three zones of strong alteration and mineralisation hosted by volcanic and sediments.

Each zone is open down-dip and along strike under shallow cover and has potential for thick, high-grade mineralisation.

MBRC005 targeted the Eastern Zone, which has been mapped for almost 2 kilometres in length in soil sampling and historic RAB drilling and is open to the south towards a historic digging containing abundant gossan.

MBRC006 drilled into the Western Zone intersected mineralisation 150 metres south along strike from a large ground EM conductor, which is planned to be targeted in the second phase of drilling due to its location within a wooded area.

Soil sampling

The soil sampling program was to confirm the historic RAB drilling lead, arsenic and copper anomalies, to map the extent of transported cover and target where mineralisation that was intercepted in this drilling, outcrops at surface.

Results highlight multiple encouraging anomalies and support the drill intercepts being open along strike, including undercover towards the historic workings.

Achilles target RC drill rig being mobilised

After extended rain delays, a drill rig is being mobilised to the Achilles Target to test underneath the recent copper and base-metal intercepts, including 5 metres at 4.9% lead and zinc, 0.3% copper, 5 g/t silver.

The drill plan has been extended to also test the new Achilles soil anomalies.

Permitting has been granted for up to 20 RC/DD holes.

Downhole EM, to test for near misses of massive sulphides, will be completed in the coming weeks at both Achilles and Mount B.

Cargelligo project aeromagnetic survey

The company has scheduled a new more detailed 100 metres line spacing aeromagnetic and radiometric survey to be flown in July over the Cargelligo Project, which will significantly improve the magnetic imagery and will aid in further structural interpretation.

Quick facts: Australian Gold and Copper Ltd


Price: 0.125 AUD

Market Cap: $12.5 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Australian Gold and Copper outlines central Lachlan Fold Belt strategy

Australian Gold and Copper Ltd (ASX:AGC) managing director Glen Diemar presented at this week’s Proactive Resources Webinar outlining the company’s focus in the prolific central portion of the Lachlan Fold Belt in NSW that hosts the large Cowal and Northparkes projects as well as the massive...

4 days ago

3 min read