Australian Gold and Copper Ltd (ASX:AGC) has further enhanced the polymetallic potential of the Achilles discovery in the southern portion of the Cobar Basin in central NSW by returning the widest zone to date of high-grade mineralisation.
The company has received results from the remaining six holes of a recent nine-hole drilling program including 16 metres at 18.5% lead+zinc, 0.4 g/t gold, 31 g/t silver and 0.8% copper from 91 metres.
There were maximum grades of 47.1% lead+zinc, 761 g/t silver, 4.1 g/t gold and 2.5% copper at various intervals in this hole, A3RC038, which was the most northern hole drilled to date at Achilles.
Discovery still open
The discovery is now defined by 12 drill holes extending over half a kilometre of strike and remaining open to the north, south and at depth.
Variable silver-gold-zinc-lead-copper mineralisation is present in all 12 holes, demonstrating considerable near-surface and depth potential.
Schematic long section of the mineralised zone at Achilles showing recent results in orange, along with proposed future RC drill holes (green) and diamond core holes (blue).
A3RC038 delivers
The 16-metre high-grade lead-zinc-copper zone in A3RC038 included 3 metres at 38.5% lead+zinc, 37 g/t silver, 0.5 g/t gold and 1.8% copper from 98 metres.
It was within 24 metres at 13% lead+zinc, 64 g/t silver, 0.6 g/t gold and 0.7% copper from 87 metres, which also included a silver-gold-copper-zone of 4 metres at 1.6% lead+zinc, 257 g/t silver, 2.0 g/t gold and 0.9% copper from 87 metres.
These results indicate that the Achilles deposit has the potential to host significant volumes of near-surface high grade mineralisation.
The company’s exploration team is also encouraged by the presence of mineralisation in all five of the other RC drill holes, albeit at more modest grades.
A3RC038 was drilled 200 metres north of previously reported results from A3RC030, which initially demonstrated the high-grade potential of Achilles. These included:
- 5 metres at 16.9 g/t gold, 1,667 g/t silver, 0.4% copper and 15.0% lead+zinc from 112 metres; and
- 3 metres at 19 g/t gold, 0.3% copper and 19.5% lead+zinc from 139 metres.
What comes next?
Permits have been received for an additional 30 drill holes and AGC is scheduled to begin new drilling this week comprising up to 20 reverse circulation (RC) holes followed by 10 diamond core holes.
This will be focused on extending the strike length and depth of the deposit, along with the continuity of the high-grade zones.
The company also intends to drill-test nearby ‘look-a-like’ targets during the upcoming campaigns.
A follow-up IP survey is also planned to begin next month to map the 5-kilometre-long Achilles Shear Zone to the south of the discovery.