Australian Gold and Copper Ltd (ASX:AGC) has continued its march into record share price territory today on releasing another strong result from reverse circulation (RC) drilling at the Achilles discovery in central New South Wales.
After hitting a new record of $0.245 yesterday on strong results with maximum grades of 45 g/t gold, +3,000 g/t silver and 38.8% lead+zinc, the company has been up as much as 40.82% today to A$0.345 with more than 16 million shares changing hands.
High-grade gold result
While still absorbing yesterday’s results, investors received more strong news today with hole A3RC031 also returning 7.4 g/t gold from 123 metres.
That hole has now returned 4 metres at 2.3 g/t gold, 545 g/t silver, 0.2% copper and 2.9% lead+zinc from 123 metres, including 1 metre at 7.4 g/t gold, 1,975 g/t silver, 0.6% copper and 5.1% lead+zinc from 123 metres.
This was within 11 metres at 1.0 g/t gold, 209 g/t silver, 0.2% copper and 2.6% lead+zinc from 122 metres.
READ: Australian Gold and Copper hits new record high on “exceptional” Achilles results
Yesterday AGC’s managing director Glen Diemar said: “Achilles is producing some exceptional grades in the drill bit. The first six holes have produced grades including combined lead and zinc to 38%, gold to 45 g/t and silver above 3,000 g/t.
"This silver result is so high grade the laboratory is sending the sample to Canada for further analysis, which is a rare occurrence.
“We are extremely happy with how Achilles is taking shape. With drilling now spread across more than half a kilometre of strike we are excited to see how big this can get,” Diemar said.
“I look forward to the results of the next six holes and can already see that Achilles has a prominent future within the Cobar Basin."