Australian Gold and Copper Ltd (ASX:AGC) is undertaking an extensive IP geophysical survey designed to test for further sulphide targets south of the Achilles discovery at its South Cobar project in central NSW.
AGC has completed six lines of this program that have highlighted further potential for the Achilles region described by the company as being "exceptional".
The survey has resulted in numerous early-stage drill targets, including a particularly strong chargeability anomaly encountered over the Achilles Shear Zone around 1.6 kilometres south of the Achilles discovery.
This feature forms a high-priority drill target that AGC believes has potential to host similar near-surface mineralisation to the deposit currently being drilled to the north.
Encouragingly, the IP survey has highlighted potential for a second mineralised parallel shear 500 metres west of the Achilles Shear Zone. This zone has been identified as large and high-tenor chargeable features on most of the lines completed to date.
The company plans to develop an exploration program to further test these targets once results from the full survey are received.
Drilling programs
A 20-hole reverse circulation (RC) drilling program is continuing at Achilles.
ACG has completed 14 drill holes to date with assays received for the first five holes. Three of these holes were at the northern and southern extents of the deposit and two in the central portion of the deposit.
Results continue to show that gold, silver and base metal mineralisation extends north, south and at depth.
AGC intends to start a diamond drilling program in mid-August, which is expected to assist in identifying the controls on the higher-grade zones at Achilles.
Modelled chargeability south of Achilles: a strong chargeability anomaly hosted within the Achilles Shear Zone (right) and another in the parallel shear zone (centre left).
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