AGC Unveils High-Grade Gold-Silver Zone at Evergreen with Ongoing Drilling

New Gold-Silver Zone Emerges at Evergreen

Australian Gold and Copper Ltd (ASX:AGC) has unveiled a fresh gold-silver-rich zone at its Evergreen Prospect within the South Cobar Project, delivering some of the best gold intersections recorded there to date. Notably, diamond drill hole 26DDBR013 intersected 13.6 metres at 4.6 grams per tonne (g/t) gold and 23 g/t silver starting from 51.4 metres downhole, within oxide mineralisation approximately 35 metres west of the main base-metal zone.

Additional high-grade intervals from the same hole included 3.9 metres at 3.2 g/t gold and a striking 153 g/t silver from 109 metres, and a deeper 7-metre zone with base metals including 7.7% combined zinc and lead from 190 metres. These results highlight a distinct western structural zone with elevated gold and silver tenor, potentially expanding the project's precious metals footprint.

Drilling Accelerates to Define Shallow Oxide Mineralisation

Following these encouraging assays, AGC has mobilised a reverse circulation (RC) drill rig to immediately test the shallow oxide gold zone. The program includes scissor holes and step-outs along strike to the north and south, aiming to improve sample recovery in the weathered, oxidised rock where diamond drilling experienced up to 50% core loss due to friable material.

With nine RC holes completed and more planned, the company is focused on delineating the scale and continuity of this newly identified zone. Importantly, mineralisation remains open in multiple directions, with assay results pending for several diamond holes including 26DDBR017 to the south.

Context Within Browns-Evergreen and Achilles Resources

The Browns–Evergreen Project spans 6 kilometres with over 25 kilometres of historic drilling, and AGC’s recent efforts continue to uncover previously unknown mineralised structural zones with varying metal character. Managing Director Glen Diemar emphasised the significance of the new intercept, describing it as one of the strongest gold results at the project to date and expressing excitement about ongoing drilling along strike.

AGC remains well funded to advance Evergreen towards an initial Mineral Resource Estimate, complementing the company's existing Achilles Mineral Resource which contains 38.5 million ounces silver equivalent. The company confirmed no material changes to the Achilles resource following recent drilling and assay updates.

Technical Details and Next Steps

The diamond drilling program utilised triple tube core (PQ3, HQ3, NQ3) with core orientation and systematic logging to support resource estimation. Despite some core loss in the shallow oxide zone, sample representivity is being addressed by the RC drilling campaign, expected to yield improved recovery. Assays were conducted using fire assay and four-acid digest ICP methods at ALS laboratories, with quality control including standards and duplicates.

AGC is progressing with approximately 7,000 metres of resource definition drilling underway at Browns-Evergreen, targeting an initial resource estimate. The company is awaiting assay results from seven diamond holes and continuing RC drilling to test the shallow oxide zone and expand the new western gold-silver mineralisation.