Re-Sampled Historic Core Returns 3m at 2.0 g/t Gold, and Australian Gold and Copper (ASX:AGC) Extends Evergreen Mineralisation Across 1.9km

Aditi Sarkar

28 October 2026 04:12 PM AEDT

Re-Sampled Historic Core Returns 3m at 2.0 g/t Gold, and Australian Gold and Copper (ASX:AGC) Extends Evergreen Mineralisation Across 1.9km

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Highlights

Re-sampling of historic core and RC material at Browns Reef covered 2,161 samples in the Evergreen area.
Gold mineralisation now spans a corridor of roughly 1.9km, from Kelpie Hill through Evergreen to hole BRD011.
Hole BRD018 returned 3m at 2.0 g/t gold from 99m in oxide material, including 1m at 4.2 g/t.
Assays are pending from a 21-hole RC programme, and approval is being sought for 3,000m of RC drilling.

Australian Gold and Copper (ASX:AGC) has dug back into old drill core at Evergreen and pulled out fresh gold. Re-sampling at the Browns Reef project returned intercepts including 3m at 2.0 g/t gold, stretching mineralisation across a corridor of about 1.9km in New South Wales. More assays are still to come.

The Sampling Programme

The results come from the Browns Reef project, exploration licence EL6321, part of the South Cobar Project. The programme covered 2,161 samples from historic diamond core and reverse circulation (RC) material in the Evergreen area. Gold mineralisation now spans roughly 1.9km, running from Kelpie Hill through Evergreen and south beyond Windmill Dam to historic hole BRD011.

The samples comprised 274 half-core samples re-assayed against earlier intervals from holes BRD006, BRD011, BRD013, BRD016 and BRD021, 53 half-core samples that overlapped earlier intervals, 1,171 half-core samples from previously unsampled core and 663 one-metre RC samples from drilling by Eastern Metals. The 663 RC samples were not sent for laboratory analysis, so the number of laboratory assays is lower than the programme's headline sample count.

Key Intercepts

Only downhole widths are reported, and true widths are not known. The best result was in BRD018, which returned 3m at 2.0 grams per tonne gold from 99m in oxide material, with 14 g/t silver and 1.1% combined zinc and lead. That included 1m at 4.2 g/t gold from 100m. BRD012 returned 6m at 1.1 g/t gold from 155m with 18 g/t silver, including 1m at 2.3 g/t gold from 157m.

Lower-grade results included 6m at 0.2 g/t gold from 122m in BRD018, 4m at 0.4 g/t gold from 108m in BRD020 and 5m at 0.2 g/t gold from 304m in BRD016. Reporting cut-offs were 0.2 g/t gold, 20 g/t silver, 0.2% copper or 2.0% combined zinc and lead, allowing up to 4m of internal dilution.

Quality Checks

Paired re-assays gave a Pearson correlation of 0.956 for gold between original and new results, 0.769 for silver and 0.725 for copper. Lead, arsenic, iron and magnesium correlated above 0.9, and zinc, molybdenum, sodium and sulphur above 0.8. Earlier aqua regia results are adequate for base and precious metals but not for key pathfinder elements, so the company is using four-acid ICP-MS and ICP-OES multi-element analysis to improve pathfinder coverage. Historic laboratories included ALS, OSLS and SGS, using fire assay and aqua regia or multi-acid digests. The competent person is Glen Diemar, an AGC employee and shareholder.

These are exploration results and do not constitute a mineral resource or reserve. Re-sampled historic material carries the usual uncertainties about original sampling practices.

Next Steps and Corporate Position

Assays are pending from a 21-hole RC programme targeting the high-grade Hillston structure. The company is seeking regulatory approval for 3,000m of RC drilling at Evergreen and plans further re-logging and sampling of historic core and RC material. Its review has been extended about 2km south into the Browns Reef area to identify oxide and primary targets. No dates are given for the approval or the pending assays.

As background, the Achilles resource announced on 16 December 2025 stands at 38.5 million ounces of silver equivalent, 58% of it in the indicated category, reported at cut-offs between 40 and 80 grams per tonne silver equivalent. The company lists 332 million shares on issue, 7.5 million options and 11.5 million performance rights. At 31 July 2026 it held about A$7m in cash with no debt, which is not a current balance.

Whether the pending work extends the mineralisation or leads to an estimate at Evergreen is unknown.

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