- Australian Gold and Copper (AGC) hits zones of sulphide at the Boxdale target within the Moorefield project in central NSW
- Two gold focused drilling campaigns are underway along the 15 kilometre long, Boxdale to Carlisle Reefs historic gold trend
- Fifteen reverse circulation drill holes were completed at Boxdale with multiple zones of sulfides intercepted in numerous drill-holes. Assays are pending
- The rig will now mobilise to Carlisle Reefs with eight drill holes planned to test extensions to known mineralisation and under significant mine workings
- In early morning trade shares have been flat at 9.8 cents
Australian Gold and Copper (AGC) has hit “encouraging” zones of sulphides at the Boxdale target within the Moorefield project in central NSW, with the drill rig set to move to Carlisle Reefs.
The company is undertaking two gold-focused drilling campaigns along the 15 kilometres long, Boxdale to Carlisle Reefs historic gold trend.
The style of gold deposits being explored are known as “orogenic gold deposits” whereby gold has a strong correlation with arsenic and the gold mineralisation is hosted in brittle fractures in the rock.
At Boxdale, fifteen reverse circualtion drill holes were completed for 1560 metres, targeting three large gold targets.
While assays are pending, Australian Gold and Copper said in anomaly one and three, drilling intercepted multiple “encouraging” zones of sulfides in numerous drill holes.
Historical results from Boxdale include 19 metres at 1.3 grams per tonne gold from 114 metres down hole and 15 metres at one gram per tonne from 85 metres.
With drilling at Boxdale complete, the rig is being mobilised to Carlisle Reefs, located 15 kilometres to the southeast.
Eight drill holes are planned to test extensions to known mineralisation and under
significant mine workings.
At Carlisle Reefs historical intercepts included 36 metres at 1.2 grams per tonne gold from 81 metres downhole and 30 metres at 1.6 grams per tonne from 80 metres.
In the early morning trade shares were flat at 9.8 cents.