NSW Holes Intersect Multiple Cobar-Style Shear Zones
Australian Gold and Copper Ltd (ASX: AGC) has completed its third Reverse Circulation (RC) drilling programme since IPO.
The drilling campaign was conducted at the Cargelligo Project in New South Wales, testing the Mt Boorithumble gold and base-metal target with 1,075m drilled across six holes.
The drilling intersected multiple encouraging zones of alteration and weak base-metal sulphides hosted by shearing of volcanics and sediments. One of these zones was intersected along strike from a large ground EM conductor which is planned to be targeted in a second phase of drilling.
RC drill samples have been submitted to the laboratory in Orange NSW and will be reported upon once received.
Results from previous drilling at Pattons and Achilles 3 are also pending and expected in the coming weeks.
Mount Boorithumble is one of three “Hera/Federation style” targets within the Cargelligo licence (EL8968) which include Achilles 2, Achilles 3 and Mount Boorithumble, and are located in the Southern Cobar Basin, south of the recent Federation discovery and Hera mine along the eastern margin of the Cobar Basin. These targets lie along a north striking shear zone.
AGC’s near term plan is to move the rig as quickly as possible from discovery focused target to target with RC drilling of seven near surface gold and copper targets.
