Australian Gold and Copper Unearths High-Grade Evergreen Discovery at South Cobar Project

Australian Gold and Copper (ASX: AGC) has confirmed a new high-grade gold-silver-base metals discovery at the Evergreen prospect within its South Cobar project in New South Wales, after diamond drilling returned a broad polymetallic sulphide intersection.

The discovery hole intersected 17 metres at 5.3g/t gold, 163g/t silver, 0.8% copper, and 17.3% combined lead and zinc from 128m including 8m at 10.4g/t gold, 311g/t silver, 1.2% copper, and 29.0% combined lead and zinc from 129m.

The result extends the newly identified western mineralised zone about 150m south from recently reported oxide gold-silver mineralisation and confirms high-grade mineralisation in both oxide and sulphide domains.

Australian Gold and Copper is now testing the western zone along strike and around its interpreted intersection with the main Evergreen mineralised zone, with reverse circulation drilling underway and further assays pending.

The western zone is interpreted to trend northwest and remains open along strike and at depth, while its geometry and true width have not yet been established.

Two Separate Intersections

The latest result follows earlier drilling about 150m to the north that intersected multiple intervals of oxide gold-silver and base metal mineralisation, giving Australian Gold and Copper two separate intersections within the newly recognised structure.

A cross-section through the new hole shows the high-grade intersection close to the interpreted western structure, while the Evergreen long section indicates drilling is expanding the broader mineralised footprint beyond the area previously tested.

“This is a major step forward in understanding the scale and tenor of the Evergreen system,” managing director Glen Diemar said.

“Our drilling has now identified multiple previously unknown mineralised structural zones—with a reverse circulation drill rig already on site, our geology team has moved quickly to follow up this high-grade target with additional holes.”

A total of 10 holes have now been completed at Evergreen, with additional RC drilling targeting the western zone to the north and south and a scissor hole designed to improve understanding of its geometry.

Evergreen Resource Work

Evergreen forms part of the Browns–Evergreen system, where Australian Gold and Copper is undertaking 7,000m of resource definition drilling as it works towards an initial mineral resource estimate.

The company considers the latest intersection its second significant gold, silver, and base metal discovery in two years following the Achilles discovery in 2024, located elsewhere within its South Cobar portfolio.

Achilles already hosts an MRE of 38.5 million ounce silver equivalent, providing an established resource base while drilling continues to build the emerging Browns–Evergreen opportunity.

Further assay results are expected from completed diamond holes and the ongoing RC program as drilling continues across shallow targets, near-surface mineralisation, and extensions to the high-grade western zone.