Australian Gold and Copper gears up to drill test strong new targets
August 02, 2023 at 11:31 am
Share
(via NewsDirect)
Australian Gold and Copper Ltd (ASX:AGC) MD Glen Diemar runs Proactive through the highlights of the explorer’s June quarter - one of the biggest periods in the company’s history. The focus of the quarter was on the execution of three IP geophysics surveys, each supported by extensive surface geochemistry and mapping programs, which defined five new strong drill targets.
The company is now gearing up to test these targets with drilling.
Looking forward, AGC will focus its next two quarters on the five new drill targets defined at the South Cobar Project. Drill hole design and permitting for an initial drill program at Hilltop is complete with drilling flagged to start once a track mounted RC rig becomes available. Permitting is ongoing for the other four targets.
At the Ootha Projects infill soil sampling is planned, while at Gundagai’s Bongongalong target, further sampling is planned to locate the highest priority areas for follow up geophysics and potential drill testing.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.
Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Australian Gold and Copper Ltd is an exploration company, which is focused on the exploration and development of its multi-asset gold portfolio situated in the Lachlan Fold Belt in New South Wales. Its projects include Moorefield Project, Gundagai Project and Cargelligo Project. The Moorefield project comprises two granted exploration licenses covering over 481.5 square kilometers (km2) (EL7676 Moorefield and EL8669 Derriwong). The Gundagai project consists of an exploration license covering 265 km2 and comprises multiple drill ready prospects considered prospective for McPhillamys-style gold, epithermal gold-copper and large-tonnage zinc-lead-silver prospects. The Cargelligo project consists of an exploration license covering 227 km2 and is located 15 kilometers (km) west of the town of Lake Cargelligo in NSW. The Project comprises multiple drill ready Cobar-style gold-polymetallic prospects within a 15 km zone along strike from the Cobar Mining District in the southern Cobar Basin.