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Australian Gold and Copper’s (ASX:AGC) rapid South Cobar expansion has kept barrelling on early in CY26, with the explorer now tipping a resource growth to come sooner rather than later at the western New South Wales project after drilling delivered more “exceptional” silver and gold grades.
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“Our Achilles silver and gold deposit is proving to be quite robust and clearly has more mineralisation to uncover,” Aus Gold and Copper’s managing director, Glen Diemar, told shareholders in another update Monday.
The explorer’s latest assays intersected multiple broad, high-grade intervals that extend the deposit at depth. The standout result was 33 metres at 264 metres per tonne silver equivalent from 189 metres, from the “A3RCD083” hole.
Further strong intersections were also reported in two other Cobar holes − “A3RCD084” and “A3RCD087” − with recorded intervals up to 16 metres at 279 grams per tonne AgEq and 20.4 metres at 123g/t AgEq, respectively.
“This is a recipe for resource growth,” Mr Diemar predicted, “as these holes did not make it into the initial resource update released in December.”
Also of interest, Mr Diemar continued, is that the deposit remains open at depth. This should, he expects, help “double the company’s endowment at South Cobar” by the end of this ongoing calendar year. “There is still plenty of upside to come in our under-explored district,” AGC’s managing director pledged.
Six more diamond drill holes at Achilles still have assays to come in through the next few weeks, The Market Link understands, so the company’s news flow should stay relatively strong through to mid-to-late February.
AGC also has a drilling restart scheduled for Q1CY26; the Aussie company will be targeting a proper resource upgrade at Achilles as well as a new estimate at the Browns-Evergreen precious and base deposit. At that same metals deposit, the explorer also has a 10,000 metre drill planned to start in March.
Through Monday morning, AGC have been 23.5cps.
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