Australian Gold and Copper Expands Evergreen Zinc-Gold System to 400m Depth
Key Takeaways
- Six new diamond drill holes at Northern Evergreen confirm a coherent, expanding polymetallic system with zinc grades of 2.1–5.6% and gold running consistently at 0.2–0.5g/t Au across multiple holes.
- The 21-hole RC follow-up program targeting the exceptional 26DDBR017 intercept (17m at 5.3g/t Au, 163g/t Ag and 17.3% Pb+Zn) has been completed, with all samples at the laboratory and assays due late October to early November 2026.
- Copper is emerging as a third growth driver at Evergreen, with three separate holes returning meaningful copper grades including 35m at 0.5% Cu with internal zones at 2.5% Cu in 26DDBR006.
- AGC holds a dense near-term catalyst pipeline: RC assays, Achilles resource upgrade targeted for FY27, and an initial MRE at Browns-Evergreen with 7,000m of resource definition drilling underway.
- The company held A$7 million cash as at 31 July 2026 against a 332 million share count, with multiple simultaneous drill programs increasing near-term capital requirements.
Northern Evergreen delivers broad, consistent zinc-gold mineralisation across multiple drill holes
Australian Gold and Copper Ltd (ASX: AGC) has reported a new suite of assay results from diamond drilling at its Evergreen Prospect, part of the South Cobar Project in NSW, with multiple holes returning substantial widths of zinc-gold mineralisation that confirm a coherent, expanding polymetallic system. Six new holes have added to a picture of consistent mineralisation across the northern Evergreen zone, with gold grades of approximately 0.3–0.8g/t Au running throughout zinc-rich intervals across a system now demonstrated to extend to significant depth.
The results are not isolated. They build on previously reported drilling to establish genuine continuity, and the company has already moved quickly on follow-up work. A total of 21 RC holes for 2,593m have now been completed at Evergreen, targeting extensions to the exceptional shallow high-grade intercept returned by 26DDBR017 (announced 1 September 2026). Assay results from this RC program are expected in late October to early November 2026.
AGC holds a 2,600km² landholding in the South Cobar Basin. Its Achilles discovery hosts an initial 38.5Moz AgEq Mineral Resource Estimate (58% Indicated), with Browns-Evergreen emerging as a second resource opportunity 30km away. The company had A$7m cash as at 31 July 2026, with 332 million shares on issue.
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Drill results in detail — what the holes are showing
Headline intercepts from northern Evergreen
The six new holes reported in this release collectively reinforce the northern Evergreen system narrative. Note that widths are downhole widths; true widths are estimated at approximately half the downhole width.
| Hole ID | From (m) | Interval (m) | Key Grades | Significance |
|---|---|---|---|---|
| 26DDBR011 | 195m | 14m | 0.5g/t Au, 5g/t Ag, 5.6% Zn, 1.8% Pb (incl. 1m @ 26.4% Zn from 196m); and 17m @ 0.3g/t Au, 3.7% Zn from 214m | Two broad mineralised intervals in close succession; peak 26.4% Zn |
| 26DDBR016 | 186m | 15m | 0.4g/t Au, 6g/t Ag, 3.0% Zn, 2.6% Pb (incl. 1m @ 0.8g/t Au, 6.3% Zn from 189m) | Broad interval with high-grade internal zone |
| 26DDBR012 | 165m | 7m | 0.5g/t Au, 6g/t Ag, 3.9% Zn, 1.8% Pb | Consistent gold and zinc grades at moderate depth |
| 26DDBR015 | 128m | 5.9m | 0.4g/t Au, 4g/t Ag, 2.1% Zn, 1.6% Pb | Near-surface mineralisation confirming system extent |
| 26DDBR014 | 171m | 5m | 0.2g/t Au, 4g/t Ag, 4.1% Zn, 1.8% Pb | Zinc-dominant intercept supporting northern continuity |
| 26DDBR010 | 339m | 10m | 0.2g/t Au, 14g/t Ag, 0.7% Cu, 2.2% Zn, 0.9% Pb (incl. 2m @ 1.7% Cu) | Deepest new intercept; notable copper and silver contribution |
The system signal — continuity, not just intercepts
What stands out across these results is not any single hole, but what the holes collectively demonstrate. Northern Evergreen is a broad, coherent zinc-gold-silver-lead polymetallic system with significant vertical extent, with zinc consistently the dominant base metal and gold present throughout at approximately 0.3–0.5g/t Au.
The peak interval grade of 26.4% Zn in 26DDBR011 illustrates the internal high-grade zones within otherwise broad mineralised packages. Previously reported holes reinforce the picture: 26DDBR007 returned 21m @ 0.4g/t Au, 4.1% Zn from 229m, and 26DDBR004 returned 5.1m @ 2.7g/t Au, 8.3% Pb+Zn from 193m, confirming continuity across the northern zone.
The discovery anchoring the RC follow-up program is 26DDBR017, announced 1 September 2026: 17m @ 5.3g/t Au, 163g/t Ag, 0.8% Cu and 17.3% Pb+Zn from 128m, including 8m @ 10.4g/t Au, 311g/t Ag, 1.2% Cu and 29.0% Pb+Zn from 129m. That result represents a step-change in precious-metal tenor within the system and is the primary target for the 21-hole RC program now awaiting assays.
Glen Diemar, Managing Director
“Evergreen continues to grow with every drill hole returning strong results, continually expanding the footprint. The width of these strong zinc and gold results is very pleasing. The Evergreen system is open in all directions, and we continue to delineate new mineralised structures to the west. A further 21 RC holes have been drilled, all the RC samples are now at the lab.”
What is a polymetallic system, and why does it matter for investors?
A polymetallic system is a single geological body containing multiple commercially valuable metals. At Evergreen, that means zinc, gold, silver, lead, and increasingly copper, all occurring together within the same mineralised intervals.
For investors, this matters because revenue is not tied to one commodity price cycle. Each tonne of mineralisation at Evergreen carries gold, zinc, silver, and lead simultaneously, meaning the combined metal value per tonne can be materially higher than a single-metal deposit of comparable grade. When zinc prices are soft, gold contributes. When gold is strong, the zinc grades amplify the value further. The emerging copper component adds a third dimension to that equation.
Favourable metallurgical test results from Achilles have demonstrated that the polymetallic suite responds well to standard processing, an important confirmation that multi-metal grades translate into recoverable product rather than remaining locked in complex mineralogy.
Copper emerges as a third growth driver at Evergreen
Copper is an increasingly important component of the Evergreen system. It has appeared across multiple holes and at meaningful grades, and historic explorers intersected it as well, confirming it is a recurring feature rather than an anomaly in one drill hole.
Key copper intercepts reported to date include:
Earlier Evergreen copper and gold drilling had already flagged the system’s multi-metal character, with 26DDBR006 returning 35m at 0.5% Cu and internal zones exceeding 2% Cu, establishing copper as a structural feature of the mineralised sequence rather than a localised anomaly.
- 26DDBR006: 35m @ 0.5% Cu, including 6m @ 2.0% Cu and 4m @ 2.5% Cu
- 26DDBR010: 10m @ 0.7% Cu, including 2m @ 1.7% Cu
- 26DDBR017: 17m @ 0.8% Cu, including 8m @ 1.2% Cu, within the high-grade gold-silver zone
The source announcement notes that the distribution of higher-grade copper provides an important exploration vector. Further drilling will seek to determine whether the stronger copper intersections define continuous copper-rich zones or shoots within the broader zinc-gold-silver-lead system.
Glen Diemar, Managing Director
“Most of the recent 21 holes were targeting our recent western discovery zone where 26DDBR017 returned a very broad, exceptionally high-grade intercept of 17m at 5.3g/t Au, 163g/t Ag, 0.8% Cu and 17.3% Pb+Zn from 128m, including 8m at 10.4g/t Au, 311g/t Ag, 1.2% Cu and 29.0% Pb+Zn from 129m. With so many holes in this zone we eagerly await these results.”
Figure 5 in the announcement provides a plan map of copper results across the Evergreen system, illustrating the distribution of copper-bearing intercepts relative to the gold-rich zones.
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What’s next — RC results, Achilles drilling and the path to a resource
AGC has several near-term catalysts in sequence:
- RC assay results from the 21-hole Evergreen program are expected in late October to early November 2026
- The RC rig has now mobilised to Achilles to test regional targets and infill gaps in the shallow indicated resource
- Achilles resource upgrade targeted for FY27, with 15 RC holes planned for shallow drilling
- Initial Mineral Resource Estimate at Browns-Evergreen, with 7,000m of resource definition drilling underway
- Further site permitting is underway at Evergreen for continued diamond and RC drilling
The Junee gold project, located 230km south of AGC’s South Cobar projects, adds a pure gold project to the portfolio.
The investment thesis is built on accumulating inventory across a large footprint. AGC holds 2,600km² of ground, has a 38.5Moz AgEq resource at Achilles, and is rapidly advancing a second discovery at Evergreen that remains open in all directions. With RC assays due within weeks and resource milestones targeted for FY27, the company is working through a dense near-term catalyst schedule.
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