Australian Gold and Copper Exploration Results Deliver Spectacular Silver-Gold Grades

Silver and Gold Treasures: AGC Extends High-Grade Zone at Achilles

Australian Gold and Copper Ltd (ASX: AGC) has delivered exceptional new drilling results at its Achilles deposit within the South Cobar Project in NSW, significantly expanding the high-grade silver and gold mineralisation zone and strengthening the project's fundamentals.

Spectacular High-Grade Results Confirm Growth Potential

AGC's latest drilling campaign has returned outstanding results that extend the high-grade silver-gold zone by another 50m down-dip. The standout intersection came from hole A3RC072, which delivered:

• 29m at 370g/t AgEq (112g/t Ag, 0.4g/t Au, 7.8% Pb+Zn) from 125m
• Including 5m at 1,204g/t AgEq (171g/t Ag, 0.8g/t Au, 2.4% Cu, 34.4% Pb+Zn) from 141m

This remarkable intercept follows the previously reported near-surface gold-dominant mineralisation in hole A3OX010, which returned:

• 42m at 266g/t AgEq (2.6g/t Au, 12g/t Ag, 0.7% Pb+Zn) from 26m
• Including 5m at 1,851g/t AgEq (19.1g/t Au, 52g/t Ag, 1.3% Pb+Zn) from 30m

Additional strong results were reported in holes A3RC070 and A3RC071:

• 14m at 224g/t AgEq (141g/t Ag, 0.7g/t Au, 0.7% Pb+Zn) from 77m
• Including 2m at 1,060g/t AgEq (686g/t Ag, 2.9g/t Au, 3.7% Pb+Zn) from 79m
• 16m at 239g/t AgEq (112g/t Ag, 0.8g/t Au, 1.8% Pb+Zn) from 111m
• Including 2m at 1,101g/t AgEq (615g/t Ag, 3.9g/t Au, 4.4% Pb+Zn) from 114m

These results demonstrate that the high-grade mineralisation at Achilles starts near the surface and now extends over 150m down-plunge, remaining open at depth.

Understanding Silver Equivalent (AgEq) Calculations

When evaluating polymetallic deposits like Achilles, companies often use metal equivalent calculations to express the combined value of different metals in terms of a single metal. AGC calculates silver equivalents based on:

• Recovery rates: 83% for Ag, 90% for Au, 95% for Zn, and 92% for Pb
• Metal prices: US$31.6/oz for Ag, US$2,700/oz for Au, US$2,850/t for Zn, US$2,000/t for Pb
• Formula: AgEq(%) = Ag(g/t) + 92.6Au(g/t) + 32.1Zn(%) + 21.8*Pb(%)

Importantly, copper is not currently included in the AgEq calculation, despite the significant copper values encountered (up to 4.0% Cu), suggesting potential additional value that isn't yet being factored into the project economics.

"These new results of 5m at 1,204g/t AgEq are a clear demonstration that the Achilles deposit has plenty more to give. This high-grade zone starts close to surface with 5m at 19g/t Au from 30m and is now 150m in down plunge length and has been returning outstanding grades of gold, silver and base metals." – Glen Diemar, Managing Director

Ongoing Exploration Activities

AGC's exploration program at Achilles is proceeding on multiple fronts:

Diamond Drilling: Nine additional diamond holes have been completed, with the deepest hole (A3RCD081) stepping back 150m from the previous deepest hole. Current drilling is targeting the northern high-grade zone beneath the impressive A3RC072 intercept.

RC Drilling: Continuing along the Achilles Shear Zone targets, with first results expected later in October.

Aircore Program: A 30-hole program is planned to test the Eastern Shear Zone, located 2km east of Achilles, to assess the fertility of this parallel structure.

"The copper in this zone is also very high and to date copper is not included in the silver equivalency. Including copper into future metallurgical test work is another way to add value if we continue to see such fantastic grades." – Glen Diemar, Managing Director

Educational Focus: Polymetallic Deposits and Silver-Gold Systems

Polymetallic deposits like Achilles are geological formations containing multiple valuable metal types in economically significant quantities. These deposits are particularly valuable as they provide exposure to various commodity price cycles and can offer robust economics through different market conditions.

Characteristics of Silver-Gold-Base Metal Systems:

1. Geological Setting: Typically found in volcanic or volcano-sedimentary environments, often associated with specific structural features like shear zones.

2. Zonation Patterns: Many polymetallic systems display metal zonation, with gold often more prevalent near surface and silver-base metal enrichment at depth.

3. Mineralogy: Complex mineralogy with precious metals (gold, silver) occurring alongside base metals (lead, zinc, copper) in various mineral forms.

4. Economic Considerations: Processing requires careful planning due to the different metallurgical properties of the various metals.

Evaluation Methods:

Metal equivalent calculations (like AgEq) provide a standardised way to express the combined value of multiple metals in a single unit, facilitating comparison between different mineralised zones or deposits.

Investment Thesis: A Growing High-Grade Precious Metals System

AGC has established a strong investment case based on:

1. Consistent High-Grade Results: Multiple holes have now confirmed substantial widths of high-grade silver-gold mineralisation, with impressive precious metal values alongside significant base metal credits.

2. Growth Potential: The deposit remains open at depth and along strike, with drilling consistently expanding the known mineralised envelope.

3. Metallurgical Advantages: Recent test work (August 2025) demonstrated robust recoveries, supporting the AgEq calculations and overall project economics.

4. Strategic Land Position: Recent acquisitions have expanded AGC's footprint in the South Cobar region, giving the company belt-scale control.

5. Copper Upside: Significant copper grades reported in recent drilling (up to 4.0% Cu) are not currently included in AgEq calculations, suggesting additional value potential.

Why Investors Should Follow AGC

Australian Gold and Copper exploration results present a compelling investment opportunity in the precious metals space:

1. Proven Discovery Team: Management has consistently delivered strong exploration results and expanded the company's resource base.

2. Near-Term Catalysts: Multiple drilling programs underway with a steady flow of results expected in the coming months.

3. Resource Definition Stage: The company is progressing toward a maiden Mineral Resource Estimate at Achilles, a significant milestone that could drive revaluation.

4. Exposure to Both Precious and Base Metals: The polymetallic nature of the deposit provides investors with exposure to gold, silver, zinc, lead, and copper.

5. Regional Consolidation: Recent acquisitions have strengthened AGC's position in the South Cobar region, creating a strategic land package with district-scale potential.

With its combination of high-grade mineralisation, expanding resource potential, and strong management execution, AGC represents an attractive opportunity for investors seeking exposure to precious metals exploration success in a tier-one mining jurisdiction.

Looking to Capitalise on AGC's Silver-Gold Discovery?

Discover how Australian Gold and Copper's exceptional drilling results at the Achilles deposit could represent a significant investment opportunity. With impressive high-grade intersections including 5m at 1,204g/t AgEq and consistent expansion of the mineralised zone, AGC is rapidly advancing this promising polymetallic project in NSW's prolific Cobar Basin. To learn more about AGC's exploration progress and upcoming catalysts that could drive shareholder value, visit their investor page.