Australian Gold and Copper's Discovery of Significant Mineralisation at Achilles and Hilltop

Australian Gold and Copper Ltd (ASX: $AGC) has announced the discovery of significant mineralisation at Hilltop and Achilles in the southern Cobar Basin, NSW. The discovery of high-grade gold and silver mineralisation at Achilles has led to an immediate follow-up program of up to ten holes, with drilling currently underway. The results at both Achilles and Hilltop represent greenfields discoveries and are the first significant mineralisation drilled within the Ural Volcanics in the southern Cobar Basin, validating AGC's wider South Cobar exploration strategy.

Executive Commentary on the Discovery

AGC Managing Director, Glen Diemar, expressed his satisfaction with the spectacular gold and silver results at Achilles, highlighting the positive gold grades and the added value driver of silver grades. He emphasized the potential for an exciting exploration story and potential future growth, especially with precious metal prices breaking out of long-term trends. Non-Executive Director Adam McKinnon also expressed excitement about the initial drilling results, drawing parallels to significant orebody discoveries in the Cobar region's history and looking forward to ongoing exploration.

Summary of the ASX Announcement

The announcement by Australian Gold and Copper Ltd (ASX: $AGC) highlights the discovery of significant mineralisation at Achilles and Hilltop in the southern Cobar Basin, NSW. The immediate follow-up program of up to ten holes at Achilles and the maiden drilling at Hilltop have delivered promising results, validating AGC's wider South Cobar exploration strategy. The company's persistence and technical field work at Achilles have paid off, with high-grade mineralisation open in every direction. The discovery represents a greenfields discovery and the first significant mineralisation drilled within the Ural Volcanics in the Southern Cobar Basin. AGC's systematic South Cobar exploration strategy has been validated, and the company looks forward to an exciting exploration story and potential future growth amidst the breakout of precious metal prices. The results also indicate the presence of a very large hydrothermal system at Hilltop, with potential for significant mineral system and future exploration to target potential higher-grade zones.