Australian Gold and Copper Ltd. (AGC) has discovered a new shallow, high-grade gold-silver zone at its Evergreen Prospect, located in New South Wales’ South Cobar Basin.
Assay results from drill hole 26DDBR013 confirmed two precious metal-rich zones within oxide mineralisation roughly 35 metres west of the main base-metal zone.
Key intersections returned 13.6 metres at 4.6 grams per tonne (g/t) gold and 23 g/t silver from 51.4 metres depth, alongside a deeper intercept of 3.9 metres at 3.2 g/t gold and 153 g/t silver from 109 metres.
The findings represent some of the highest-grade gold results returned at Evergreen to date.
Following the discovery, AGC immediately deployed a reverse circulation (RC) drill rig to test the zone’s strike potential to the north and south, as well as execute a scissor hole.
Nine RC holes have been completed, with additional drilling planned.
The new western mineralised zone remains open to the south, with assays pending for drill hole 26DDBR017 and seven additional diamond holes.
Managing Director Glen Diemar said the shallow, high-grade results mark a crucial step forward for the project.
“These are very encouraging shallow gold results,” Diemar said.
“The results are particularly encouraging because mineralisation remains open to the north, south, and at depth. We also have a further seven completed diamond holes with assays pending and nine recently completed RC holes which will be important in defining the scale and continuity of the Evergreen system.”
While diamond core recovery in the weathered oxide zone was partially impacted by friable host rock, the ongoing RC program is expected to improve sample recovery as AGC moves toward delivering an initial Mineral Resource Estimate for Evergreen.
Backed by AU$7 million in cash reserves as of late July, AGC remains fully funded to continue its exploration campaign across its 2,600-square-kilometre landholding in the region.
