- New results amongst best gold intersected at Evergreen
- Highlights inclide 13.6m at 4.6 g/t Au and 23 g/t Ag from 51.4m
- Further drilling underway to expand shallow gold zone
- RC rig has been positioned for follow-up
Australian Gold and Copper (ASX: AGC) has confirmed two gold-silver-rich zones within oxide mineralisation approximately 35m west of the main base-metal-rich zone at the Evergreen prospect within the South Cobar project in NSW.
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The company has immediately moved an RC rig to the area to further test the discovery, including a scissor hole and holes testing along strike to the north and south.
A total of nine RC holes have now been completed, with additional holes planned with gold mineralisation remaining open to the south, with further assay results pending.
MD, Glen Diemar, said the new results are amongst the best gold intersected at the Evergreen prospect to date and AGC remains well funded to continue testing the newly identified zone.
“These are very encouraging shallow gold results. The Browns–Evergreen project is six km in length with more than 25 km of historic drilling.
“The intercept of 13.6m at 4.6g/t Au and 23g/t Ag from 51.4m ranks as one of the strongest gold results returned from the project to date.
“Our drilling has already uncovered numerous previously unknown mineralised structural zones, each with a differing mineral character. This western mineralised zone looks to have higher tenor gold and silver and we are now excited about the drilling along strike.”
Mr Diemar said he results are particularly encouraging because mineralisation remains open to the north, south, and at depth.
“We also have a further seven completed diamond holes with assays pending and nine recently completed RC holes which will be important in defining the scale and continuity of the Evergreen system.
“With RC drilling now testing the shallow oxide zone, AGC is rapidly advancing Evergreen towards an initial mineral resource estimate.”
A reverse circulation drill rig continues to test the shallow weathered oxide zone, targeting near- surface mineralisation and has been immediately positioned to further target this zone including a scissor hole and numerous holes along strike to the north and south.
AGC was steady at 13.0¢. Mkt cap $43.09.
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