Australian Gold and Copper Unveils High-Grade Near-Surface Gold at Achilles

Strong Near-Surface Gold-Silver Results at Achilles

Australian Gold and Copper Ltd (ASX – AGC) has delivered compelling assay results from its recent drilling campaign at the Achilles discovery within the South Cobar Project, New South Wales. The highlight is hole A3OX010, which returned an impressive 5 metres grading 19.1 grams per tonne (g/t) gold and 52 g/t silver starting from just 30 metres below surface. This intercept sits within a broader 42-metre zone averaging 2.6 g/t gold and 12 g/t silver, signalling a substantial near-surface mineralised envelope.

The 12 oxide aircore holes drilled for a total of 994 metres targeted weathered, near-surface gold and silver mineralisation. These results reinforce the potential for expanding the mineral resource with wide, shallow oxide zones that are particularly attractive for future development due to their accessibility and scale.

Expanding the Achilles Footprint

Hole A3OX010 was drilled approximately 70 metres up dip from previously reported deeper mineralisation, which included high-grade silver and base metals. The company plans follow-up drilling around this hole to better define the extent and continuity of the high-grade oxide gold zone. Additional encouraging oxide results from nearby holes, such as A3OX009, A3OX011, and A3OX015, show consistent mineralisation, further supporting the growing footprint at Achilles.

Meanwhile, assays are still pending for eight reverse circulation (RC) holes and three diamond core holes, which are targeting both oxide mineralisation and deeper zones within the Achilles deposit. Diamond drilling continues in the southern and eastern parts of the project, including significant step-outs in the southern silver-gold zone.

Intensified Drilling and Metallurgical Confidence

To accelerate exploration, a second drilling rig has been mobilised to test the southern Achilles Shear Zone, a key structural target. This intensification of drilling activity underscores the company’s commitment to rapidly building a robust gold-silver mineral inventory in a well-established mining jurisdiction.

Recent metallurgical test work has demonstrated strong recoveries for gold, silver, lead, and zinc, which underpins the silver equivalent calculations used to assess the economic potential of the mineralisation. These robust recoveries add confidence to the prospect of future resource growth and eventual development.

Strategic Implications Amid Record Metal Prices

Managing Director Glen Diemar emphasised the significance of these near-surface results, calling them the company’s best gold intercept to date. He highlighted the timing as particularly favourable given record precious metal prices, which could enhance the project’s value proposition. The combination of thick, shallow mineralisation and ongoing deeper drilling positions Achilles as a promising asset within the South Cobar region.

As the company continues to refine its geological understanding and expand drilling coverage, the market will be watching closely for further assay results and resource updates that could unlock new value for Australian Gold and Copper.