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The latest announcement is out from Australian Gold & Copper Ltd. ( (AU:AGC) ).
Australian Gold & Copper has begun a new diamond drilling program at its Achilles project in the South Cobar Basin, targeting significant resource growth by stepping out beneath the current mineral resource envelope. The campaign aims to extend known mineralisation from surface to more than 500 metres depth, potentially doubling the depth of the system and testing zones about 200 metres below the deepest hole in the existing resource model.
Recent results from holes A3RCD092-094 have confirmed thick intervals of silver-equivalent mineralisation and delivered a notable intercept of 20.8 metres at 99 grams per tonne silver-equivalent, including 7 metres at 190 grams per tonne, while also revealing a new semi-massive sulphide zone in a higher stratigraphic level. Management sees this emerging upper zone, about 70 metres above the main mineralised horizon, as a potential second discovery that could materially enhance Achilles, underpin rapid growth in contained silver-dominant ounces and support the company’s goal of more than doubling its South Cobar metal endowment by year-end.
AGC is running a dual-track drilling strategy, with rigs also operating at the Browns Reef–Evergreen project to step out from historically favourable zones, while an aircore rig pursues regional greenfields targets. The focus on thick, near-surface intersections at robust grades, coupled with early-stage technical studies, is intended to improve the quality and value of in-ground ounces and strengthen the project pipeline for shareholders in a tightening precious and base metals market.
More about Australian Gold & Copper Ltd.
Australian Gold & Copper Ltd is a precious and base metals explorer focused on building a significant resource position across a 2,600 square kilometre landholding in the South Cobar Basin in New South Wales. The company’s flagship Achilles discovery, made in 2024, hosts an initial 38.5 million ounce silver-equivalent resource, while a second growth opportunity is emerging at the Browns Reef–Evergreen project acquired in 2025.
AGC aims to grow into a major resource development company by rapidly increasing high-quality, near-surface and high-grade ounces that can be progressed quickly toward mining. With a capital structure of 269 million shares on issue and A$8 million in cash as at 31 December 2026, it is pursuing dual-track resource growth through active drilling on both Achilles and Browns Reef–Evergreen.
Average Trading Volume: 336,701
Technical Sentiment Signal: Sell
Current Market Cap: A$43.08M
Learn more about AGC stock on TipRanks’ Stock Analysis page.