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Recent reverse circulation drilling has extended the known high-grade silver and gold mineralisation down plunge at the South Cobar Project by as much as 50 metres, Australian Gold and Copper (ASX:AGC) reported, with several “spectacular” intersections recorded in a fresh RC hole at the New South Wales dig.
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The general sentiment from the Australian explorer is now that the Achilles deposit at South Cobar has “plenty more to give” ā and AGC is ready to strike.
“These new results are a clear demonstration that the Achilles deposit has plenty more to give,” the explorer’s managing director, Glen Diemar, declared today. “This high-grade zone starts close to surface and is now 150 metres in down-plunge length, and has been returning outstanding grades.”
Mr Diemar continued: “Our current diamond drilling is targeting under this high-grade zone, so we are excited to see it extend at depth.”
The best results included 29 metres at 370 grams per tonne silver equivalent from 125 metres depth, containing 112g/t silver, 0.4g/t gold, and 7.8% combined lead and zinc. In that interval, AGC found a higher-grade section that returned five metres at 1,204g/t silver equivalent from 141 metres.
Diamond drilling has now advanced, too; nine more holes have already been completed, AGC reported on Monday morning, to target further extensions. The deepest represents a 150-metre step-out from prior drilling.
Reverse circulation drilling continues along the Achilles Shear Zone, with first results from that exploration phase now expected in late October.
“We look forward to more spectacular results,” Mr Diemar said on that.
AGC has been up +10% today, at around 2.2cps.
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