- Australian Gold and Copper (AGC) hits shallow and broad zones of gold in the first round of drilling at its Gundagai project in New South Wales
- The company says the maiden drilling program was downsized due to inclement weather, though all six of the reverse circulation holes completed intersected gold mineralisation
- Grades peaked at 5.9 grams per tonne (g/t) of gold, and the widest intersection was 111 metres at 0.6 g/t gold
- Future exploration is planned to target obvious northern and southern extensions, testing under historic mine workings and mineralisation at depth
- Australian Gold and Copper shares are up 1.56 per cent and trading at 6.5 cents at 3:27 pm AEDT.
Australian Gold and Copper (AGC) has hit shallow and broad zones of gold in the first round of drilling at its Gundagai project in New South Wales.
The maiden drilling program was downsized due to inclement weather and wrapped up on the completion of six drill holes at the Grandview gold target, all of which hit gold mineralisation.
Despite the early finish, the company said the gold grades were “encouraging”, returning up to 5.9 grams per tonne (g/t), with the widest intersection being 111 metres at 0.2 g/t gold from 55 metres downhole.
The Grandview system remains open in all directions, with the recent drilling testing only a 350-metre portion of a zone known to extend along strike for at least 1200 metres.
AGC Managing Director Glen Diemar said he was pleased the maiden drilling had returned such shallow results and that the mineralisation remained open.
“We see Grandview as having excellent growth potential in an area of little exploration but a long history of 19th and 20th Century gold mining,” Mr Diemar said.
“We have confirmed Grandview as a gold system with relatively predicable geology. Now our plan is to deliver more high-grade results by employing good science and further
drilling.”
Future exploration is planned to target obvious northern and southern extensions, testing
under historic mine workings and mineralisation at depth.
Australian Gold and Copper shares were up 1.56 per cent and trading at 6.5 cents at 3:27 pm AEDT.