Australian Gold and Copper Ltd (ASX:AGC) Reports New Copper Exploration Results
Exploration Results
Australian Gold and Copper Ltd (ASX:AGC) announced assay results from the final drill hole of its ten-hole diamond drilling program in the Achilles region. Hole A3DD006 targeted a large IP geophysics anomaly 600m west of the Achille deposit, intercepting a broad zone of low-grade copper-zinc mineralisation with copper grades up to 0.42% and zinc up to 1.6%. This represents a new copper-dominant search space, separate from the existing Achilles silver-gold-base metal deposit.
New Copper Trend
The results highlight a new copper trend on the west side of the Achilles shear zone. Additional copper targets have been identified through large magnetic high aureoles coincident with IP chargeability anomalies along the strike of A3DD006.
Future Exploration Plans
A helicopter-borne EM survey is currently underway to test these new copper targets along the Achilles Shear Zone. Drilling activities in the Achilles region are scheduled to restart next week, with multiple targets set to be tested in the coming months.
Executive Comments
AGC Managing Director, Glen Diemar, commented, “As Explorationists, we are always looking for clues in which to leverage our data. We appreciate the grades in this hole are not particularly high, however we are encouraged this new zone is anomalous in pathfinder element bismuth and is well away from any previously known mineralisation. The mineralisation is within the deformed fabric of volcanics and sediments, which is highly significant within the formation of the Cobar Basin mineral systems models.” He added, “The orientation of the wispy copper veins hosted with magnetic pyrrohtite is significant because immediately along strike are two very large magnetic anomalies that have the hallmarks of a Cobar-style mineral system” and “With drilling recommencing next week, we are all very excited to grow Achilles further in 2025”.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.