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Australian Gold & Copper (ASX:AGC) has delivered its latest assay results from recent drillworks at the company’s Achilles North target area of interest (part of its larger Achilles project) which boast one 6m intersection grading at 2,474 grams per tonne (g/t) silver equivalent (AgEq), including 11g/t of gold.
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Broken down further, the core in question contained a 0.9m pocket which graded higher at >5,300g/t Ag Eq (33g/t gold) with a further 11 drillholes to be assayed and delivered back to market as part of company newsflows in the coming weeks.
“Our aim this year was to keep the diamond drill rig in locations with potential for very high grades, and to enhance our knowledge of the geology and the structural complexity at Achilles,” AGC MD Glen Diemar said.
“This strategy is paying off … the high-grade northern area is now shaping-up as a coherent zone that spans 150m in length and over 250m in depth. This zone remains open and assays are pending for another 11 holes within this area and we eagerly await those results.”
It’s more likely than not assay results plucked from the next 11 holes, then put together, the geotechnical picture that emerges thereafter will inform AGC on what to do next: fire off another drill run in at Achilles North, or even carry out some surface works in a bid to interpret in which direction mineralisation at the target could extend.
AGC last traded at 18.5cps, up some +4.5%.
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Disclaimer: HotCopper had a commercial relationship with AGC at the time this article was crafted and published.
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