ASX: AGC - Australian Gold and Copper
Australian Gold and Copper: Nailed it – game changing gold/polymetallic hits in NSW
Australian Gold and Copper Managing Director Glen Diemar on 3AW, 2GB, 4BC & 6PR Bulls N' Bears Report
ASX-listed Australian Gold and Copper Managing Director Glen Diemar talks to Matt Birney on Bulls N’ Bears about two big drill hits that have changed the game and just might be the Cobar Basin’s next big gold-led polymetallic discovery.
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Australian Gold and Copper is drilling in the Cobar Basin of New South Wales, a patch of dirt, I might say, that has produced some of the country's richest polymetallic mines. Its Evergreen prospect, part of the larger South Cobar project, has just changed the game for Australian Gold and Copper with back-to-back holes nailing both length and grade. Evergreen is now presenting as a genuinely high-grade gold, silver and base metals discovery.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears, brought to you today by gold and base metals explorer, Australian Gold and 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 is drilling in the Cobar Basin of New South Wales, a patch of dirt, I might say, that has produced some of the country's richest polymetallic mines. Its Evergreen prospect, part of the larger South Cobar project, has just changed the game for Australian Gold and Copper with back-to-back holes nailing both length and grade. Evergreen is now presenting as a genuinely high-grade gold, silver and base metals discovery.
Matt Birney - Okay, Glen, Evergreen made you work for it, but it looks like you're onto the money shot now. What was the best drill hit from the latest campaign?
Glen Diemar - Yeah, last week we announced 17 meters at 5.3 grams gold and 163 grams per tonne silver, 0.8% copper and 17% lead and zinc from just 128 meters down. And that included a really high-grade zone of 8 meters at 10.4 grams gold. I mean, that's absolutely very high-grade gold. That includes 311 grams silver, 1.2% copper and a cool 29% lead and zinc. Yeah, it's very nice.
Matt Birney - Yeah, certainly good numbers. And just one day before that, you had a second, or in fact, that was probably your first really decent hit. It was a bit shallower. What was that number?
Glen Diemar - Yeah, so that was 150 meters to the north, and that was 13.6 meters at 4.6 grams gold and 23 grams silver. And that was quite shallow, 51 meters, Matt.
Matt Birney - Yeah, how big is this Evergreen system getting? I gather the width has really blown out now. Give me the before and after.
Glen Diemar - Sure. Well, it's actually 6 kilometers long. We are focusing on the area of highest gold, which is called the Evergreen Zone, and it's started at 150 meters length, we've now taken it to 500 meters length, but this new zone is 50 meters west of the main zone. So we're onto multiple lenses here. It's very exciting.
Matt Birney - Yeah, this isn't your first discovery at this project. To the north is your Achilles silver discovery. What's the resource up there?
Glen Diemar - Two and a half years ago, we announced the discovery there, and in last December, we announced the resource at 38 million ounces of silver equivalent at 116 grams per tonne silver, so that's about 4 ounces of silver. That's plenty.
Matt Birney - When are we likely to see some more numbers out of Evergreen?
Glen Diemar - Very soon, Matt. We've got multiple holes still pending on this. I was just out there last weekend. We've got the rig standing over it and we're peppering this, because this is a super exciting, high value discovery as well. One of the only companies in the Cobar Basin to explore two deposits in two years in this district. It's fantastic.
Matt Birney - Yeah, certainly looking the goods.
Matt Birney - Glen 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.
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