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Australian Gold and Copper’s Achilles results show strengthening copper zone

Following the results from phase 2 RC drilling that indicate a copper zone strengthening towards an aerial EM conductor, the company is mobilising a diamond rig next week.

Australian Gold and Copper Ltd - Australian Gold and Copper’s Achilles results show strengthening copper zone

Australian Gold and Copper Ltd (ASX:AGC) has intersected a broad copper zone in phase 2 reverse circulation (RC) drilling at Achilles target of the Cargelligo Project in the southern Cobar Super Basin of New South Wales.

With the results showing a copper zone strengthening towards an aerial EM conductor, the company plans to begin diamond drilling with a rig to mobilise to the site next week.

The company has drilled 12 RC holes for a total of 2,821 metres and assays have been received for 10 holes.

Broad copper hits

Three holes, A3RC013 and A3RC014 and A3RC017, designed to drill as close to the aerial EM target have returned the most encouraging results.

A3RC013 returned:

  • 18 metres at 0.11% copper from 80 metres;
  • 3 metres at 0.17% from 159 metres; and
  • 12 metres at 0.10% from 167 metres.

Drilling directly below A3RC013 returned broader results in A3RC014:

  • 85 metres at 0.13% copper from 165 metres including 1-metre at 0.59% from 167 metres;
  • 25 metres at 0.20% from 206 metres;
  • 1-metre at 0.53% from 215 metres; and
  • 5 metres at 0.3% from 241 metres.

The broad zone in A3RC014 that strengthens with depth above the aerial EM conductor poses as a key diamond drill target.

Hole A3RC017 returned 4 metres at 0.15% copper from 202 metres, 12 metres at 0.16% from 224 metres, 1-metre at 0.11% from 241 metres and 7 metres at 0.12% from 272 metres.

Phase 2 RC drilling

The phase 2 RC drill program at Achilles was designed to test along strike and down dip from mineralisation intercepted in Phase 1 drilling and also extend drilling to two newer lead-in-soil zones previously identified.

Drilling above the aerial EM target resulted in favourable geology, strong alteration and zones of disseminated chalcopyrite and minor bornite (copper-bearing minerals).

Location of the Cargelligo, Moorefield and Gundagai projects in relation to major mines and deposits within the Lachlan Fold Belt.

Diamond drilling planned

A diamond hole has been planned to drill 150 metres under this copper intercept and directly pierce the aerial EM target.

The company is mobilising a diamond drill next week to drill a 500-metre hole under A3RC013 and A3RC014 to pierce an aerial EM conductor, and up to three 200-metre diamond tails.

A new EM plate conductor identified in a recent downhole EM (DHEM) survey, is planned to be tested by one of the diamond tails.

The Eastern Horizon is open in all directions and indicates that Achilles may host multiple mineralised horizons, hidden under shallow cover.

This is planned to be followed up with auger or aircore drilling once these areas are accessible after cropping.

Upcoming Moorefield program

At the Moorefield Gold Project northeast of Cargelligo Project and near Condobolin, the company is planning a broad exploration program for the 7 kilometres of unexplored area between Boxdale and Carlisle Reefs and follow-up drilling at Carlisle Reefs.

The 15-kilometre-long Boxdale-Carlisle Gold Trend is an orogenic gold target above a 30-kilometre-long magnetic anomaly.

The company is planning an RC drill program, stepping out from the strong intercepts previously drilled by Gold Fields Ltd and Magmatic Resources Ltd (ASX:MAG).

Elswick Road target is 3 kilometres southeast along strike from an RC intercept of 19 metres at 1.28 g/t and is the priority target area for RC drilling planned in early November as soon as the rig becomes available.

The ASX–listed firm is also planning a soil sampling program at the Elswick Rd target, where samples will be analysed in-situ with a portable XRF instrument to best position RC drill locations.

Quick facts: Australian Gold and Copper Ltd

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Australian Gold and Copper expects diamond rig on site next week at Achilles

Australian Gold and Copper Ltd (ASX:AGC)'s Glen Diemar caught up with Proactive soon after announcing they've intersected a broad copper zone in phase 2 reverse circulation drilling at the Achilles target of the Cargelligo project in the southern Cobar Super Basin of New South Wales. He says...

3 days, 13 hours ago

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