AGC Expands South Cobar Project to 1,400 km² with 312-Hole Drilling Campaign

Expanding the South Cobar Frontier

Australian Gold and Copper Ltd (ASX, AGC) has taken a decisive step in its medium-term strategy to build a precious and base metals district in New South Wales’ South Cobar Basin. The company announced the acquisition of exploration licence EL9012 from Strategic Energy Resources, adding 270 square kilometres of highly prospective ground. This acquisition boosts AGC’s total tenure in the South Cobar Project to 1,400 km², cementing its position as the dominant titleholder in this emerging mineral province.

The newly acquired EL9012 shares geological similarities with the Achilles deposit, including extensions of the Achilles Shear Zone and a second major shear zone, both prospective for gold, silver, and base metals. The deal involves an upfront cash payment and a capped production royalty, aligning interests for future development.

Record Drilling Campaigns Reveal New Targets

During the June quarter, AGC completed its largest aircore drilling program to date in the South Cobar district, with 312 holes drilled for over 11,000 metres. This extensive campaign mapped mineralised host rocks and identified key geochemical pathfinder elements, revealing two priority target zones, a 1.2-kilometre southern extension of the Achilles gold-silver trend and a new 2.0-kilometre gold-silver anomaly yet to be tested at depth.

These findings suggest the potential for a large-scale mineralised system beyond the known Achilles deposit. Encouraging assay results, including consistent multi-element anomalies, have prompted AGC to initiate a 30-hole reverse circulation drilling program to test these targets and improve resource confidence. A diamond drilling rig has also been mobilised to follow up with deeper core samples once weather conditions permit.

Towards a Maiden Resource and Beyond

Complementing the drilling efforts, metallurgical test work on a bulk composite sample from Achilles is nearing completion. This work will inform metal recovery processes and underpin an equivalency calculation to simplify reporting. AGC aims to deliver its maiden JORC Mineral Resource estimate in the second half of 2025, a critical milestone for advancing the project’s development potential.

Beyond South Cobar, AGC continues desktop studies on its Gundagai and Moorefield-Ootha projects, with a new exploration licence granted in the northwest Cobar Basin. The company remains well funded with $14 million cash on hand, providing a solid financial foundation for ongoing exploration and development activities.

AGC’s strategic consolidation of land, combined with systematic drilling and geological studies, positions it well to unlock significant value in a historically underexplored but highly prospective region. The coming months will be pivotal as assay results from ongoing drilling and metallurgical studies shape the next phase of exploration and resource definition.