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- Australian Gold and Copper (AGC) has completed a reverse circulation (RC) drilling program at the Cargelligo Project in New South Wales
- This program marks the second program AGC has completed since listing on the ASX just over one month ago
- Over 1200 metres of drilling focused on promising near-surface targets —including the Achilles Three Target
- Pleasingly, drilling intersected strong alteration and base metal sulphide zones that sit above a large electromagnetic conductor
- Although assay results are yet to be received, initial findings have provided further confidence that the eight-kilometre shear zone may host significant deposits
- AGC’s shares are down a slight 2.86 per cent and trading at 17 cents
Australian Gold and Copper (AGC) has completed a reverse circulation (RC) drilling program at the Cargelligo Project in New South Wales.
Significantly, this drilling marks the second program completed since AGC listed on the ASX in January this year. However, the first program focussed on the Moorefield Gold Project which is also located in NSW.
RC drilling at the Cargelligo Project began in mid-February and consisted of seven holes, for 1242 metres. It focused on promising near-surface targets — including the Achilles Three Target
Pleasingly, drilling intersected zones of strong alteration and base metal sulphides above a large electromagnetic (EM) conductor, which provides encouragement for deeper drilling in future programs.
The most mineralised hole intercepted a five-metre-wide zone of banded and disseminated base metal sulphide mineralisation.
Although assay results are yet to be received, these findings have confirmed the Cargelligo Project’s prospectivity and provided further confidence that the eight-kilometre-long shear zone may host significant deposits.
Drill samples have been set to a lab for assaying and will be reported once they’re received.
AGC’s shares are down a slight 2.86 per cent and trading at 17 cents at 11:40 am AEDT.
