Australian Gold and Copper Ltd reports encouraging low-grade copper-zinc mineralisation in a newly defined search space west of the Achilles deposit, with plans to resume drilling and conduct advanced geophysical surveys.
- Final diamond drill hole (A3DD006) intercepts broad low-grade copper-zinc mineralisation
- New copper-dominant search space identified 600m west of Achilles deposit
- Geophysical surveys reveal large magnetic and IP chargeability anomalies along strike
- Helicopter-borne EM survey underway to test additional mineralisation targets
- Drilling activities at Achilles scheduled to restart next week
Exploration Update at Achilles
Australian Gold and Copper Ltd (ASX: AGC) has released assay results from the final hole of its recent diamond drilling program at the Achilles region within the South Cobar Project. The hole, designated A3DD006, targeted a large induced polarization (IP) geophysics anomaly located approximately 600 metres west of the established Achilles deposit. The results reveal a broad zone of low-grade copper and zinc mineralisation hosted within an interpreted structural trap, marking a significant expansion of the company’s exploration footprint.
The mineralisation intercepted includes copper grades up to 0.42% and zinc grades reaching 1.6%, accompanied by intense alteration and pyrite averaging 2% over the final 200 metres of the hole. Importantly, this copper mineralisation is spatially distinct from the known silver-gold-base metal system at Achilles, indicating a new copper-dominant search space on the western side of the Achilles shear zone.
Emerging Copper Trend and Geological Significance
This new copper trend was initially flagged earlier in 2024 with hole A3RC047, which returned encouraging copper and zinc grades, including a peak copper grade of 0.95% at 187 metres depth. The recent diamond drilling results from A3DD006 confirm the presence of similar broad low-grade mineralisation and validate the effectiveness of IP geophysics in targeting sulphide mineralisation such as pyrite and chalcopyrite.
AGC’s Managing Director, Glen Diemar, highlighted the geological importance of these findings, noting that the mineralisation occurs within the deformed fabric of volcanics and sediments, a key feature in the Cobar Basin mineral systems model. The presence of magnetic pyrrhotite associated with wispy copper veins further supports the potential for a Cobar-style mineral system, especially given the proximity of large magnetic anomalies along strike.
Advanced Geophysical Surveys and Upcoming Drilling
Building on these promising results, AGC has commenced a helicopter-borne electromagnetic (EM) survey aimed at testing the newly identified copper targets and other prospective zones along the Achilles Shear Zone. This survey complements recent drone magnetic surveys that identified two large magnetic high aureoles coincident with IP chargeability anomalies, which are considered significant copper targets.
Drilling operations at Achilles are scheduled to restart next week, with multiple targets planned for testing in the coming months. This renewed activity underscores AGC’s commitment to expanding the Achilles mineral system and exploring the newly defined western copper search space.
Context Within the South Cobar Project
The South Cobar Project has been a focal point for AGC’s exploration efforts, with previous drilling campaigns delivering high-grade silver, gold, and base metal intersections. The discovery of a new copper-dominant zone west of Achilles adds a fresh dimension to the project’s potential, diversifying the commodity exposure and offering new avenues for resource growth.
While the grades reported in A3DD006 are modest, the geological setting, geophysical signatures, and pathfinder element anomalies such as bismuth provide compelling reasons for optimism. The company’s systematic approach, integrating drilling, geophysics, and geochemistry, positions it well to delineate and expand this emerging copper system.
Bottom Line?
AGC’s identification of a new copper search space west of Achilles sets the stage for a pivotal exploration phase in 2025.
Questions in the middle?
- Will upcoming drilling confirm higher-grade copper zones within the new western target area?
- How will the helicopter-borne EM survey refine the understanding of sulphide mineralisation along the Achilles Shear Zone?
- What is the potential scale and economic viability of this newly defined copper-dominant system compared to the existing Achilles deposit?