Announcement Date: 2022-10-10
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Australian Gold and Copper Ltd.
Project name: Gundagai
Location: Australia
Commodities: Gold
Highlight: Drilling results incl. 111m at 0.21g/t Au from 55m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Australian Gold and Copper Ltd (ASX: AGC) (“AGC” or the “Company”) is pleased to report that drilling at the Grandview gold target near Gundagai NSW has now returned strong gold intersections with 936m drilled across six holes along 350m strike length. GVRC001 was drilled beneath historic hole PGH-G-1, drilled in 1984, which returned 54m at 0.26g/t from surface including 6m at 0.63g/t from 42m (AGC ASX prospectus Nov 2020). This gold zone correlates with the location of gold anomalism in the upper section of GVRC001 GVRC002 was drilled south of GVRC001 and intercepted a broadest zone of anomalous gold (see Figure 2 & 3). This hole is encouraging given it is 180m north of the mine adit and numerous shafts. A hole was planned to be drilled underneath the mine adit before heavy rain cut the program short. GVRC002 returned GVRC003 and GVRC004 were drilled as a scissor from the same drill pad, on the spur of the hill. Both returned broad but low-grade mineralisation up to 1.2g/t, with weaker developed stockwork veining than seen in other holes. These two holes are typical of grade variances within gold systems. GVRC005 targeted mineralisation at depth under a broad gold in soil anomaly. The massive quartz zone increases in thickness towards the north along with the gold tenor. GVRC005 returned the best grades of the program (see Figure 4 & 6), including
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