12 Drill Holes Return Significant Gold-Silver-Copper Mineralisation at South Cobar

Exploration Progress at South Cobar

Australian Gold and Copper Ltd (ASX, AGC) has released encouraging results from its ongoing reverse circulation (RC) drilling campaign targeting the Achilles Shear Zone within the South Cobar Project in New South Wales. The company reported assay results from twelve holes totaling 2,131 metres, revealing significant mineralisation of gold, silver, copper, lead, and zinc along a 6-kilometre strike length south of the existing Achilles deposit.

This regional exploration program runs concurrently with diamond drilling focused on depth extensions at Achilles, underscoring AGC’s dual approach to both expanding known resources and testing new targets. The Achilles Quarry and Road Base Quarry areas, located between 4 to 6 kilometres south of Achilles, have emerged as key zones of interest with multiple mineralised intercepts.

Key Drill Results and Geological Insights

Among the standout results, hole A2RC006 intercepted 3 metres grading 84 grams per tonne (g/t) silver equivalent starting at 140 metres depth, including 1 metre at 105 g/t silver equivalent. Another hole, A2RC009, returned a broad 17-metre zone averaging 20 g/t silver equivalent, with several higher-grade intervals within. These intercepts confirm the presence of significant mineralisation beyond the immediate Achilles deposit footprint.

The Road Base Quarry target, a small gravel pit with analogous geology to Achilles, yielded multiple mineralised horizons. Hole A2RC001, for example, returned up to 3.7 g/t gold and 362 g/t silver equivalent in oxide mineralisation near surface, alongside elevated copper values. Other holes in this area demonstrated broad zones of chlorite-pyrite alteration and sulphide mineralisation, indicative of a fertile hydrothermal system.

Strategic Implications and Next Steps

Managing Director Glen Diemar highlighted the strategic value of allocating capital to regional exploration, noting that most holes drilled along the 6km trend have intersected mineralisation. With eleven holes still pending assay results, the company anticipates further confirmation of the scale potential in this corridor.

AGC’s approach combines expanding the Achilles discovery at depth with systematic regional testing along strike, supported by cost-effective acquisitions that have doubled the project area. The company’s ongoing metallurgical test work and geophysical surveys complement these drilling efforts, aiming to refine targets and enhance resource confidence.

While one hole was prematurely terminated due to water ingress, overall sample quality and representativity were maintained through rigorous sampling protocols and quality control measures. The company’s transparent reporting and adherence to JORC standards provide a solid foundation for future resource estimation.

Broader Context in South Cobar

The South Cobar region has long been recognised for its rich polymetallic deposits, and AGC’s recent results add momentum to the area’s exploration narrative. The presence of pathfinder elements such as antimony, molybdenum, and arsenic alongside base and precious metals suggests robust hydrothermal activity and potential for higher-grade zones with structural complexity.

As AGC continues to integrate new data and expand drilling coverage, the market will be watching closely for how these results translate into resource growth and project valuation. The pending assays and follow-up drilling will be critical in defining the next phase of development for this promising asset.