Australian Gold and Copper Ltd (ASX: AGC) has delivered a major new high-grade polymetallic discovery at its South Cobar Evergreen prospect, with drill hole 26DDBR017 returning standout assays that extend the known mineralisation by 150 metres. The company is advancing follow-up drilling to define this promising zone.
- 17m at 5.3g/t Au, 163g/t Ag, 0.8% Cu, 17.3% Pb+Zn from 128m in hole 26DDBR017
- Includes 8m at 10.4g/t Au, 311g/t Ag, 1.2% Cu, 29.0% Pb+Zn from 129m
- Western zone mineralisation extended approximately 150m south at Evergreen
- Multiple new mineralised structural zones identified with ongoing RC drilling
- Achilles Mineral Resource Estimate remains at 38.5Moz silver equivalent with no material changes
Breakthrough High-Grade Polymetallic Discovery at Evergreen
Australian Gold and Copper Ltd (ASX:AGC) has confirmed a significant new high-grade gold-silver-base metals discovery at its South Cobar Project’s Evergreen prospect. Drill hole 26DDBR017 delivered a standout intercept of 17 metres grading 5.3 grams per tonne (g/t) gold, 163 g/t silver, 0.8% copper, and a combined 17.3% lead plus zinc from 128 metres downhole. Within this, an 8-metre interval shines with 10.4 g/t gold, 311 g/t silver, 1.2% copper, and 29.0% lead plus zinc from 129 metres.
This intercept not only confirms but extends the previously reported western zone mineralisation from hole 26DDBR013 by roughly 150 metres to the south, establishing continuity of high-grade mineralisation in both oxide and sulfide domains. The mineralised zone is interpreted to trend northwest and remains open along strike and at depth, setting the stage for further resource growth.
Ongoing Drilling to Define Scale and Geometry
With a reverse circulation (RC) rig already onsite, AGC is rapidly following up this discovery with additional holes testing strike extensions to the north and south, including a scissor hole designed to help clarify the geometry and true width of the mineralisation. Ten diamond drill holes have been completed at Evergreen so far, with more planned to build out the resource model.
AGC Managing Director Glen Diemar described 26DDBR017 as "a discovery hole," highlighting the broad, high-grade precious and base metal intercept as a major step forward in understanding the scale and tenor of the Evergreen system. He credited the geology team, led by Gordon Barnes, and the drill contractor Ophir Drilling for their rapid and diligent work pursuing this target.
Context Within South Cobar and Achilles Resource
This discovery adds to AGC’s growing portfolio within the Browns–Evergreen system and marks the second major polymetallic discovery by the company in the past two years, following the Achilles discovery in 2024. The Achilles Mineral Resource Estimate (MRE), reported in December 2025, contains 38.5 million ounces silver equivalent across open pit and underground categories, with no material changes reported in this release.
The company continues to advance drilling at both Evergreen and Achilles, aiming to deliver an initial Mineral Resource Estimate for Browns–Evergreen supported by the ongoing 7,000-metre resource definition drilling program. This drilling includes 23 recent holes not yet incorporated into the Achilles MRE, indicating potential for resource growth.
Technical Assurance and Next Steps
AGC’s sampling and assay procedures adhere to industry standards, with oriented diamond core drilled perpendicular to mineralisation strike to ensure representative sampling. Quality control measures include standards, blanks, and duplicates, with core recoveries averaging 98%. True widths of mineralisation are yet to be determined and will be refined as further structural data becomes available.
Drilling is ongoing, with further assay results expected from both completed diamond holes and the active RC program. The company is prioritising follow-up drilling to test shallow targets and near-surface mineralisation, which could improve resource definition and economic potential.
Bottom Line?
AGC’s Evergreen discovery hole underscores the potential for a sizeable polymetallic deposit, but ongoing drilling and assay results will be critical to defining its true scale and economic viability.
Questions in the middle?
- How will ongoing drilling refine the geometry and true thickness of the new western zone mineralisation?
- What impact could the high-grade polymetallic discovery have on the overall resource and development plans for South Cobar?
- Will the upcoming assays from both diamond and RC drilling confirm continuity and support a maiden Mineral Resource Estimate for Browns–Evergreen?