Australian Gold and Copper Ltd (ASX: AGC) has reported extensive polymetallic mineralisation at its Evergreen Prospect, delivering high-grade gold, silver, lead, and zinc intercepts. With 17 diamond holes completed and a reverse circulation rig now targeting shallow oxide zones, the company is progressing towards an initial Mineral Resource Estimate.
- 21m at 0.4g/t Au and 6.4% Pb+Zn in northernmost hole
- Mineralisation open along strike, at depth, and near surface
- 17 diamond holes drilled for 5,632 metres since April
- Reverse circulation rig mobilised to test shallow oxide zone
- Pending assays for eight additional holes to refine resource
Evergreen Drilling Reveals Extensive Polymetallic Zones
Australian Gold and Copper Ltd (ASX:AGC) has unveiled new assay results from its maiden drilling campaign at the Evergreen Prospect within the Browns Reef Project, NSW, confirming broad and high-grade polymetallic mineralisation including gold, silver, lead, zinc, and copper. The standout intercept comes from the northernmost hole to date, 26DDBR007, which returned 21 metres at 0.4 grams per tonne (g/t) gold and 6.4% combined lead and zinc from 229 metres downhole. This includes a higher-grade 12-metre interval at 0.5g/t gold and 8.2% Pb+Zn, capped by a very high-grade 1.4 metres at 0.7g/t gold and 22.6% Pb+Zn.
The mineralisation remains open along strike to the north, south, at depth, and up-dip towards surface, with assays pending for eight additional holes, including northern step-outs 26DDBR011 and 26DDBR016. These results build on earlier holes that intersected multiple mineralised horizons, demonstrating a polymetallic system with both base and precious metals present across a broad structural footprint.
Depth and Continuity Confirmed by Multiple Holes
Deeper drilling has confirmed mineralisation persists at depth, with hole 26DDBR008 returning significant silver and lead-zinc grades down to nearly 480 metres, including 1 metre at 59g/t silver and 14.3% Pb+Zn. Central holes like 26DDBR003 intercepted multiple zones of copper, silver, and lead-zinc mineralisation, highlighting the complex structural controls on metal distribution.
Southernmost hole 26DDBR002 also returned polymetallic mineralisation with 5 metres at 0.2g/t gold, 12g/t silver, and 7.9% Pb+Zn from 310 metres. The drilling program to date totals 17 diamond holes for 5,631.9 metres since mid-April, marking a significant step in delineating the Evergreen system.
Shallow Oxide Zone Targeted with Reverse Circulation Rig
To complement the deep diamond drilling, AGC has mobilised a reverse circulation (RC) drill rig to test the shallow weathered oxide zone. This near-surface mineralisation is key to advancing Evergreen towards an initial Mineral Resource Estimate (MRE). The oxide zone has already yielded promising gold intervals such as 14 metres at 0.4g/t gold and 5g/t silver from 61 metres in hole 26DDBR001, and a 9-metre interval at 0.8g/t gold from 120 metres.
Managing Director Glen Diemar emphasised the breadth of mineralisation intersected so far, noting the multiple structural positions and the open nature of the system. He highlighted that as higher-grade and thicker zones like those around 26DDBR007 are defined, drilling efforts will become more focused to refine the resource model.
Context Within AGC’s Growing South Cobar Portfolio
Evergreen is part of AGC’s Browns Reef Project, which also includes the Achilles deposit, where a previously reported Mineral Resource Estimate contains 38.5 million ounces silver equivalent across open pit and underground categories. The company’s ongoing exploration is building on this base, with recent drilling at Achilles extending mineralisation depth and quality.
The current Evergreen results are a critical complement to AGC’s broader strategy in the South Cobar region, which has seen recent acquisitions and capital raises to fund exploration and development. The mobilised RC rig and pending assay results will be pivotal in shaping the next phase of resource definition and potential mine planning.
Bottom Line?
AGC’s Evergreen drilling campaign is delivering consistent polymetallic mineralisation across multiple structural zones, with shallow oxide targets now in focus as the company advances towards a maiden resource estimate.
Questions in the middle?
- How will pending assay results from northern step-out holes impact the scale and grade continuity of Evergreen?
- What metallurgical characteristics will the shallow oxide zone exhibit, and how might this influence processing strategies?
- To what extent could the evolving resource at Evergreen complement or extend AGC’s existing Achilles Mineral Resource?