ASX: AGC - Australian Gold and Copper
- Matt Birney
- 9 hours ago
- 4 min read
Australian Gold and Copper: A geological theory that is bang on!
Australian Gold and Copper Managing Director Glen Diemar on 3AW, 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Australian Gold and Copper Managing Director Glen Diemar talk to Matt Birney on the Bulls N’ Bears Report about AGC’s geological silver-gold-lead-zinc targeting theory in NSW that appears to be hitting the mark at will with some exciting drill numbers.
TO LISTEN TO THE AUSTRALIAN GOLD AND COPPER AUDIO INTERVIEW - CLICK BELOW
Australian Gold and Copper appears to be developing a successful geological targeting model at its South Cobar silver-gold-lead-zinc project in NSW’s revered Lachlan Fold Belt west of Sydney. South Cobar, when combined with the recently acquired adjacent Browns Reef project, now covers about 2600 sq km and is primed for a major discovery. AGC’s Achilles deposit, part of South Cobar, is stealing the show for now, with recent impressive drill hits sparking a touch of excitement.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by Australian Golden Copper
Matt Birney - ASX code: AGC
Matt Birney - I'm Matt Birney and I'm joined now by the Managing Director of Australian Gold and Copper, Glen Diemar.
Matt Birney - Hi, Glen.
Glen Diemar - G'day Matt.
Matt Birney - Okay, so Australian Gold and Copper appears to be developing a successful geological targeting model at its South Cobar silver-gold-lead-zinc project in NSW’s revered Lachlan Fold Belt west of Sydney. South Cobar, when combined with the recently acquired adjacent Browns Reef project, now covers about 2600 sq km and is primed for a major discovery. AGC’s Achilles deposit, part of South Cobar, is stealing the show for now, with recent impressive drill hits sparking a touch of excitement.
Matt Birney - Okay, Glen, what were the best two or three drill hits from the very latest drill campaign in and around your existing Achilles deposit?
Glen Diemar - Yeah, sure, Matt. Fantastic results here. 7 meters at 291 grams equivalent of silver. That ones actually within 38 meters at 108 grams silver equivalent. And that actually finished ended in mineralization. So, we're not sure how deep that one goes, but it will continue. One of the other holes collared about 100 meters away from that one was 8 meters at 238 grams silver equivalent. That was within 16 at 153. So really good results and quite big step out.
Matt Birney - Okay. Tell me a bit about the geology at this project. What's driving your drill targeting?
Glen Diemar - Sure. It actually comes right up to surface which is quite unique. It's about 800 meters long and sandwiched between a couple of shear zones. And look, it's quite silver rich, definitely dominant silver, but there's a strong gold component there as well and some base metals which are always nice. But we're targeting this thing drilling deeper and deeper. And you know, we actually don't have to go too deep. I'm standing here looking at the drill rig right now and we're drilling a 300 meters hole which is about 150 meters step back from those results that I just told you. So very nice.
Matt Birney - Are they the best results of this project to date?
Glen Diemar - No. Gosh no. Gosh no. So the discovery hole was 5 meters at 16.9 grams silver about 1,600 grams uh sorry 16.9 grams gold, 1600 grams silver and a cool 15% lead plus zinc. So we've had some really fantastic results. And those results were about 200 300 meters north of where I am now, where we're drilling now.
Matt Birney - Okay. Where do you go next and why?
Glen Diemar - Well, we're just going to keep stepping back another 150 meters each way. I'm looking at the other drill pads around me. Nice flat ground. And yeah, we'll be drilling here for the next number of months at least.
Matt Birney - Now, I notice you and your technical director have been buying shares. I see that in some of the disclosures. How much money have you and your technical director kicked into to buy Australian Gold and Copper stock recently?
Glen Diemar - Oh, I love this stock. So yeah, I personally chucked in, my wife and I chucked in $320,000 last week. One of the other directors 200. So look, we're cashed up. The company's got over $14 million in the bank now. And we just think it's a really great investment from here.
Matt Birney - Glenn Diemar from Australian Gold and Copper.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice, which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
Outro - For more public company interviews go to the money page on the 6PR, 2GB, 3AW and 4BC websites and click the public companies tab.
