Australian Gold and Copper (ASX:AGC) is seeking approvals for 3,000m of reverse circulation (RC) drilling at its Evergreen prospect in New South Wales, after re-sampling historical core returned new gold intercepts.
The company received assay results for 2,161 samples from historical drill core and RC chips at the Browns Reef Project (EL6321), part of its South Cobar Project.
Hole BRD018, drilled by Eastern Metals in 2022, returned 3m @ 2 grams per tonne gold (Au) from 99m in oxide, including 1m @ 4.2g/t Au from 100m.
Meanwhile, Hole BRD012, drilled by Kidman Resources in 2014, intersected 6m @ 1.1g/t Au from 155m, including 1m @ 2.3g/t Au from 157m.
Earlier explorers overlooked the oxide zone because many early diamond holes used roller-bit pre-collars, while six Eastern Metals holes used mud-rotary pre-collars. Neither technique recovers samples.
Kidman drilled diamond holes from surface but sampled oxide intervals only sparingly. Reported widths are downhole, and true widths are not yet known.
Combined with recent drilling, the results highlight gold mineralisation across an approximately 1.9km corridor from Kelpie Hill through Evergreen to beyond Windmill Dam. BRD012 sits 300m south of AGC’s Evergreen drilling.
Assays pending from Hillston Structure
Further assays are pending from a 21-hole RC campaign targeting the ‘high-grade’ Hillston Structure. The company also plans to continue re-logging and sampling more historical core across the Browns Reef area.
Managing Director Glen Diemar says the program offers a low-cost test of the oxide zone.
“When we reviewed the historic drilling, we quickly realised that many intervals had never been sampled, so we got to work,” Diemar explains.
“The cheapest holes to drill are the ones already in your core storage, and these gold intercepts are welcome additions to the growing Evergreen story.
“There is more core to work through, and we are keen to see what it tells us about the oxide gold potential and the broader mineralised system.”
The company also holds the Achilles discovery, which has an initial mineral resource estimate of 38.5 million ounces of silver equivalent, of which 58% is classified as indicated. As at 31 July, the company reported $7 million in cash and no debt.
Australian Gold and Copper is an explorer advancing a portfolio of gold, copper, and other base metal projects across New South Wales. Write to JC Villarba at Mining.com.au
