Highlights

  • Regional RC drilling outlines multiple mineralised zones along a 6km structural corridor.
  • Assays released for 12 RC holes with 11 holes still pending.
  • New targets tested south of the Achilles deposit confirm broad alteration signatures.

Australian Gold and Copper Ltd (ASX:AGC) has released assay results from 12 reverse circulation (RC) drill holes, totalling 2,131m, across the Achilles Shear Zone within the South Cobar Project in NSW. The drilling tested new regional targets extending up to 6km south of the Achilles deposit, including first-pass drilling at the Achilles Road Base Quarry target. Results for an additional 11 RC holes are awaiting analysis.

The reconnaissance program followed earlier aircore drilling completed in June 2025, with RC holes spaced at roughly 200m along priority corridors. Drilling mapped stratigraphy and alteration signatures considered analogous to those seen at Achilles, including chlorite-pyrite and sericite alteration zones.

Northern Drilling Shows Multiple Mineralised Intervals

The northernmost hole in the program, A2RC006, intersected:

  • 3m at 84 g/t AgEq from 140m, including 1m at 105 g/t AgEq from 142m.

Hole A2RC009 recorded broad mineralisation within footwall alteration, including:

  • 17m at 20 g/t AgEq from 102m, with additional 1–2m intervals returning up to 61 g/t AgEq.

Geochemical signatures across the trend included elevated silver, gold, zinc, lead and copper, accompanied by pathfinder elements such as antimony, molybdenum and arsenic. These elements are commonly used in exploration to define vectoring patterns toward potential higher-grade zones.

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Achilles Quarry Target Returns Broad Alteration Zones

At the Achilles Road Base Quarry, nine RC holes were drilled to test shallow mineralisation and follow up earlier visual observations. Four of the first five holes encountered a continuous 40m chlorite-pyrite zone trending into sericite alteration. Hole A2RC001 intersected several mineralised intervals, including:

  • 5m at 37 g/t AgEq from 31m,
  • 3m at 155 g/t AgEq from 39m, and
  • 12m at 22 g/t AgEq from 49m, with a copper-bearing interval of 2m at 60 g/t AgEq and 0.8% Cu from 82m.

At the northern side of the quarry, A2RC004 returned:

  • 13m at 47 g/t AgEq from 32m, including intervals with up to 182 g/t AgEq, followed by deeper zones containing both AgEq and copper.

Southern Extensions Show Continued Mineralisation

Two holes drilled 1.5km south of the quarry (A2RC016 and A2RC017) intersected mineralised zones consistent with continuity along the shear zone. Results included:

  • 12m at 55 g/t AgEq from 85m in A2RC016, and
  • 3m at 155 g/t AgEq from 42m in A2RC017.

AGC reported that the thinly bedded facies appears mineralised along the length of the quarry area, with additional drilling planned to further evaluate structural controls and grade distribution.

Share Performance of AGC

AGC was trading 7.69% lower at AUD 0.180 per share as of 17 November 2025 at the time of writing.