AGC Silver Discovery Delivers Exceptional 1,453g/t at South Cobar

AGC's recent drill results from the Achilles deposit in South Cobar NSW represent a significant milestone in the Australian Gold and Copper silver discovery story, with high-grade mineralisation extending approximately 140 metres below the existing Mineral Resource Estimate. The announcement comes as silver trades above US$110 per ounce, dramatically enhancing the value proposition of silver-dominant deposits.

The standout result from hole A3RCD089 intersected 11 metres at 424g/t silver equivalent (AgEq) from 305m depth, including a phenomenal 3 metres at 1,453g/t AgEq from 306m. This high-grade intersection represents 46.7 ounces per tonne of silver equivalent, grades that would be considered world-class in the precious metals sector.

Market Timing Enhances Value Proposition

The announcement coincides with silver trading significantly above the US$31.60 price used in AGC's equivalent calculations, potentially understating the true economic value of these intersections. Current silver prices above US$110 per ounce represent a substantial premium to the company's calculation baseline.

Furthermore, this exceptional Australian Gold and Copper silver discovery demonstrates the company's ability to identify high-grade zones at depth, suggesting considerable exploration upside remains within the broader South Cobar district.

Key Results from Latest Diamond Drilling Program:

Managing Director's Assessment

"Our deepest hole A3RCD089 has just delivered some of the best silver-gold mineralisation to date at Achilles with up to 3m at 1,453 g/t (46.7 oz/t) silver equivalent. These grades are well above the average Achilles underground resource grade of 125 g/t AgEq or 4.0 oz/t," said Glen Diemar, Managing Director.

Understanding Silver Equivalent: Investment Valuation Framework

Silver equivalent calculations provide investors with a standardised method to assess the combined value of polymetallic deposits using silver as the reference metal. This approach enables direct comparison between different mineralised zones and simplifies economic evaluation of complex multi-metal systems.

AGC's Silver Equivalent Calculation Parameters:

• Silver: US$31.60/oz (83% recovery)
• Gold: US$2,700/oz (90% recovery, 92.6x multiplier)
• Lead: US$2,000/t (92% recovery)
• Zinc: US$2,850/t (95% recovery)

The formula heavily weights gold due to its substantially higher value per ounce, whilst incorporating base metal credits that provide additional revenue streams. This polymetallic nature offers investors exposure to multiple commodity markets, potentially reducing single-metal price volatility risks compared to mono-metallic deposits.

In addition, the silver equivalent metric becomes particularly relevant for investors when precious metal prices diverge from the baseline calculations, as current market conditions demonstrate with silver trading at significant premiums to the US$31.60 baseline.

Resource Extension Confirms Growth Trajectory

The drilling results demonstrate substantial expansion potential beyond AGC's current 38.5 million ounce silver equivalent resource base. The deepest intersection in A3RCD089 sits approximately 140 metres below the deepest hole used in December 2025's Mineral Resource Estimate, suggesting significant exploration upside remains untested.

Current Achilles Mineral Resource Summary:

The high-grade northern zone mineralisation now extends from surface to over 360 metres down dip, representing a substantial expansion of the known mineralised system. These results include grades well above the 125g/t AgEq average for the underground resource category, according to the company.

Strategic District Consolidation in South Cobar

AGC has systematically consolidated a significant position across South Cobar NSW, recognised as one of Australia's premier precious and base metals districts. The company's recent acquisitions have established belt-scale control of highly prospective ground, with Achilles representing an initial component of broader exploration potential.

Near-term Development Catalysts:

1. Updated Achilles MRE – Expected in coming months incorporating 23 recent drill holes not included in December resource estimate
2. Browns-Evergreen Initial MRE – 10,000m drilling programme commencing March 2026 targeting resource definition
3. Continued Exploration Programme – Later in Q1 2026 targeting further resource expansion at multiple prospects

For instance, the Browns-Evergreen acquisition adds another significant silver-gold-base metal deposit to AGC's project portfolio. Management has indicated an objective to more than double the company's resource endowment by year-end 2026, subject to exploration success.

What Makes This Discovery Significant for Investors?

The latest drilling results position AGC within a compelling intersection of exceptional grade quality and favourable market timing for silver-dominant assets. However, investors should consider multiple factors when evaluating this Australian Gold and Copper silver discovery.

Grade Profile Significance

The 1,453g/t AgEq intersection represents some of the highest silver equivalent grades reported in Australian exploration recently. These grade levels would typically support robust economics across various commodity price scenarios, providing potential downside protection for project economics.

Shallow Mineralisation Accessibility

Unlike many high-grade precious metal deposits requiring expensive deep mining, Achilles features mineralisation extending from surface. The current resource estimate includes 28.8 million ounces in the open pit category, suggesting significant portions could be accessible through lower-cost extraction methods.

Polymetallic Revenue Diversification

The presence of gold, silver, lead, and zinc creates multiple potential revenue streams. This commodity diversification may reduce exposure to single-metal price volatility whilst providing leverage to precious metals price appreciation.

Resource Growth Pipeline Supports Development Trajectory

AGC has established multiple pathways for resource expansion throughout 2026, with the current Achilles results representing one component of a broader exploration strategy across South Cobar.

Exploration Upside Factors:

• Multiple holes with pending assay results at Achilles
• 23 recent drill holes not incorporated in current MRE
• Browns-Evergreen initial resource definition programme
• District-scale exploration potential across consolidated land package

Consequently, this systematic approach to exploration and resource development has positioned AGC for potential significant growth. "By the end of the year, we aim to have more than doubled the Company's endowment at South Cobar," according to Managing Director Glen Diemar.

How Does Current Market Environment Impact Value?

Current silver prices above US$110 per ounce represent multi-year highs, creating an optimal environment for silver-dominant projects to demonstrate enhanced economics. AGC's silver equivalent calculations, based on US$31.60 silver, may significantly understate current economic values given the substantial price differential.

This Australian Gold and Copper silver discovery occurs during a period of heightened investor interest in precious metals exposure, particularly silver-focused assets that offer leverage to commodity price movements.

Key Investment Considerations:

• World-class silver equivalent grades up to 46.7 ounces per tonne
• Resource expansion trajectory with updated MRE expected shortly
• Strategic consolidation providing belt-scale exploration potential
• Optimal market timing with silver at multi-year highs
• Multiple development pathways from open pit through underground scenarios

Future Development Prospects

The convergence of exceptional exploration results, resource growth potential, and favourable precious metals pricing positions AGC within the current market opportunity for high-quality silver-gold development projects. The company's systematic approach to district consolidation, combined with demonstrated drilling success, establishes a foundation for continued resource expansion across South Cobar's mineralised systems.

Furthermore, the upcoming resource updates and exploration programmes provide multiple near-term catalysts that could significantly expand the company's resource base. The combination of proven high-grade mineralisation and strategic district positioning suggests considerable potential for further discoveries within AGC's consolidated land package.

Could AGC's High-Grade Silver Discovery Transform Your Portfolio?

With silver equivalent grades reaching 46.7 ounces per tonne and a resource expansion programme targeting to more than double the company's endowment by year-end 2026, Australian Gold and Copper presents a compelling opportunity in today's precious metals market. The combination of world-class mineralisation, strategic district consolidation across South Cobar, and multiple near-term development catalysts positions AGC at the forefront of Australia's silver-gold exploration sector. Follow Australian Gold and Copper on X to stay updated on their exploration progress, resource updates, and strategic developments as they advance this exceptional silver discovery.