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- Evergreen delivers significant base and previous metal results
- Hits include 35m at 0.5% copper including 6m at 2.0% copper
- Highest gold grades at Evergreen return 5.1m at 2.7 g/t gold
Australian Gold and Copper (ASX:AGC) has obtained promising first assay results from its maiden drilling campaign at the Evergreen prospect, part of the company’s Browns Reef project in NSW.
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The drilling program was designed to test beneath historical silver-gold-base metal mineralisation and has successfully intersected significant copper, gold, silver, zinc and lead mineralisation.
MD, Glen Diemar, said assay results from hole 26DDBR006 have confirmed the visual sulphide observations previously reported and demonstrated the potential for Evergreen to host a substantial copper-bearing mineral system.
“These first results have exceeded our expectations. Hole 26DDBR006 has confirmed a significant copper-rich zone beneath the historical Evergreen holes, while 26DDBR004 has delivered the highest gold grades seen at the prospect to date,” he said.
“Importantly, these are only the first assays from a much larger drilling program. We now have another eight holes completed and awaiting results, which will help define the scale and continuity of the Evergreen system as we work towards an initial mineral resource estimate.”
The assays were prioritised for rapid laboratory turnaround, with a further eight drill holes totalling more than 3,000m completed since mid-April and results expected over the coming weeks.
Mr Diemar said the results provide further confidence in the continuity of mineralisation between drill sections.
“Importantly, the distribution of copper, gold, zinc and lead mineralisation observed in 26DDBR006 suggests increasing metal zonation at depth, highlighting the potential for a large mineralised system at Evergreen.”
Diamond drilling continues at Evergreen, with assay results from a further eight holes expected over the coming weeks.
At Achilles, a fourth hole of the current diamond drilling program has been completed, and core processing is underway.
The program was designed to test for extensions to mineralisation below the current MRE and potentially beyond 500 metres down dip.
Work towards further requisite approvals is also underway to support continued drilling from August.
Meanwhile, results from the Tooronga aircore program are being interpreted alongside detailed microscopic analysis of bottom-of-hole samples, with initial findings expected shortly.
At Junee, AGC has now commenced field activities while integrating the historical database and advancing drill targeting across several priority prospects.
AGC is up 26.1% to 15.0¢. Mkt cap $30.96M.
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