AGC Extends Achilles Mineralisation Beyond 400m Depth

Step-Out Drilling Extends Achilles High-Grade Zone

Australian Gold and Copper Ltd (ASX:AGC) has pushed the boundaries of its Achilles deposit in South Cobar, NSW, with recent diamond drilling confirming that the mineralised system remains open beyond 400 metres depth. The new step-out program has extended mineralisation more than 200 metres below the current resource, which previously only extended to about 250 metres down dip.

Two of the four recently completed holes targeting the northern high-grade zone returned significant silver equivalent (AgEq) intercepts. Hole A3DD015 yielded 14 metres at 85g/t AgEq from 388 metres, including a standout 1 metre at 400g/t AgEq from 390 metres. Meanwhile, A3DD013 delivered 9.7 metres at 56g/t AgEq from 434 metres, with higher-grade intervals within.

Mineralisation Remains Open with Assays Pending

The drilling tested beneath hole A3RCD089, the previous deepest hole in Achilles North, which intersected an impressive 11 metres at 424g/t AgEq from 305 metres, including 3 metres at 1,453g/t AgEq. While grades in the latest deeper holes are lower than those exceptional high-grade zones, the presence of silver-gold-base metal mineralisation at these depths is encouraging for the deposit’s scale potential.

Assay results are still awaited for the other two holes, A3DD014 and A3DD016, which will provide further clarity on the continuity and geometry of the mineralised system at depth. The company emphasises that mineralisation remains open to the north of A3DD015 and will be a focus for future drilling.

Broader Exploration Efforts and Resource Growth Ambitions

AGC is advancing multiple fronts at South Cobar. Alongside the deep diamond drilling at Achilles, shallow reverse circulation (RC) drilling is planned to target extensions of oxide gold-silver mineralisation previously reported in 2025, including follow-ups on promising holes like A3OX010.

Diamond drilling continues at the nearby Evergreen deposit, where initial results have already revealed significant copper and gold mineralisation, underpinning plans for a maiden Mineral Resource Estimate. Further assay results from Evergreen are expected in the coming weeks, complementing AGC’s strategy to boost its mineral endowment in the region.

Managing Director Glen Diemar highlighted the company’s focus on growing contained ounces through resource extensions and leveraging the value attributed to these ounces. He noted the confidence building as the scale potential of Achilles becomes clearer, with further assay results pending that will add to the understanding of the deposit.

Achilles Mineral Resource and Next Steps

The Achilles Mineral Resource Estimate currently stands at 10.3 million tonnes at 116g/t AgEq, containing 38.5 million ounces silver equivalent across open pit and underground categories. The recent drilling supports AGC’s strategy to grow the underground portion of this resource, which is critical for long-term project viability.

Looking ahead, the company plans to continue testing the northern high-grade zone’s depth extensions and pursue shallow drilling to expand oxide resources. Meanwhile, ongoing work at Evergreen and other South Cobar prospects like Browns Reef and Tooronga will be integral to AGC’s broader exploration pipeline.