Zak Mir spoke with Australian Gold and Copper Ltd (ASX:AGC) MD Glen Diemar on today’s Achilles results

Achilles Northern Zone Delivers Exceptional Grades

AGC Managing Director, Glen Diemar, said, “These new results are truly exceptional and further enhance the value being delivered by consistent follow-up drilling. This intersection in A3RCD086 of 6m at 2,474g/t AgEq ranks as one of our best holes
at Achilles to date. To receive these results at a time when the silver price is hitting new highs is serendipitous.”

“Our aim this year was to keep the diamond drill rig in locations with potential for very high grades, and to enhance our knowledge of the geology and the structural complexity at Achilles. This strategy is paying off.”

“The high-grade northern area is now shaping-up as a coherent zone that spans 150m in length and over 250m in depth. This zone remains open and assays are pending for another 11 holes within this area and we eagerly await those results.”


Overview

A new high-grade discovery at the Achilles Northern Zone is reshaping how we think about the district and the company exploring it. Over the past 18 months we've methodically expanded the footprint with targeted drilling and the results are delivering exceptionally high grades near surface and at depth. This is not just a single zone of interest; it is part of a long, polymetallic corridor with proven mining history and significant upside for growth.

Systematic drilling has outlined a continuous panel of mineralisation roughly 7,800 metres long and currently tested to depths of 250 to 300 metres. Within that trend we have identified discrete, very high-grade pods that stand out from the background mineralisation and could materially add value if they continue to replicate along strike and at depth.

"We've discovered a panel of mineralization about 7,800 metres long, currently down to about 250 to 300 metres depth."

High-grade intercepts

Some of the standout assays include very strong near-surface and deep intercepts. One surface interval returned:

"Five metres at 19 grams gold and 50 grams silver right at surface."

Deeper drilling has also hit a pronounced high-grade pocket. A recent hole (hole 86) returned a deeper multi-metre, very high-grade interval that, on a silver-equivalent basis, sits in the multiple-thousands of grams per tonne range. These concentrated pockets are exactly the kind of zones where ounces can be added quickly and economically.


How this fits within the broader district

The Achilles trend sits inside a long, established polymetallic district with roughly 150 years of mining history. The district runs for some 250 kilometres and is renowned for multi-commodity deposits. Being polymetallic means the project can be positioned to take advantage of whatever metal cycles are strongest—copper, silver or gold—without needing to change the fundamental geology of the asset.


Recent drilling and the maiden resource

Over the past six weeks a focused program of 14 holes concentrated on expanding the northern high-grade pod. While we will publish a maiden mineral resource before Christmas, several of these latest holes are likely to come in after the resource cut-off and represent upside for subsequent updates.


Where this could take the company

A small-cap company can transform quickly when it proves up high-grade, scalable mineralisation in a favourable district. The combination of near-surface high grades, a long mineralised corridor and a polymetallic mix supports a trajectory from smaller market capitalisation to a more substantial mid-tier exploration/development story—provided further drilling and resource definition continue to deliver.


Next steps

1. Finalise and publish the maiden mineral resource before Christmas.
2. Continue infill and step-out drilling to convert high-grade pods into the resource and test along strike and to depth.
3. Assess metallurgical characteristics and potential preliminary economic pathways for a polymetallic operation.
4. Maintain district consolidation and allocate exploration capital to other nearby targets to build long-term longevity.

Final note

These results are encouraging and demonstrate how targeted exploration, focused on high-potential pods within a larger mineralised system, can create meaningful value. The polymetallic nature of the system provides strategic flexibility and potential leverage to different commodity cycles.

Disclaimer: This article is for informational purposes only and is not investment advice. Conduct your own research and consult qualified professionals before making investment decisions.