AGC Returns 21m at 6.4% Pb+Zn as Evergreen Drilling Hits Across Full System
Key Takeaways
- Every diamond hole assayed to date at Evergreen has returned mineralised intervals, with the standout intercept of 21m at 0.4g/t Au, 5g/t Ag, 6.4% Pb+Zn from 229m in the northernmost hole confirming high-grade continuity.
- Mineralisation has been confirmed at the northern, southern, central, and deepest extents of the system — and remains open along strike, at depth, and up-dip toward surface.
- Diamond drilling is complete at 17 holes for 5,631.9m, with assays pending on eight holes including northern step-outs 26DDBR011 and 26DDBR016, representing a near-term catalyst wave.
- An RC rig has mobilised to test the shallow oxide zone identified in 26DDBR001 (14m at 0.4g/t Au from 61m), which could support lower-cost mining scenarios and strengthen the resource estimate.
- Evergreen is positioned as AGC's second resource opportunity within a 2,600km² landholding, sitting 30km from the flagship Achilles deposit which already hosts a 38.5Moz AgEq Resource.
Evergreen delivers broad, high-grade hits as AGC drives toward maiden resource
Australian Gold and Copper has returned fresh assays from its maiden drilling campaign at the Evergreen Prospect, part of the Browns Reef Project in NSW, confirming broad mineralisation along strike and at depth. The standout intercept: 21m at 0.4g/t Au, 5g/t Ag, 6.4% Pb+Zn from 229m in northernmost hole 26DDBR007, including 1.4m at 0.7g/t Au, 16g/t Ag, 22.6% Pb+Zn from 241m. Every assayed hole to date has returned mineralised intervals. Diamond drilling is now complete — 17 holes for 5,631.9m since mid-April — and an RC rig has mobilised to test the shallow oxide zone. The results advance Evergreen toward an initial Mineral Resource Estimate, positioning it as a second resource opportunity approximately 30km from the flagship Achilles deposit.
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Drilling confirms mineralisation across the full system
Drilling has proven the system is large and continuous. Mineralisation has been hit in the northernmost, southernmost, central AND deepest holes, and remains open along strike, at depth and up-dip toward surface.
Northern high-grade zone (26DDBR007)
The northernmost assayed hole, 26DDBR007, returned 21m at 0.4g/t Au, 5g/t Ag, 6.4% Pb+Zn from 229m, including 12m at 0.5g/t Au, 6g/t Ag, 8.2% Pb+Zn from 233m, and a very high-grade interval of 1.4m at 0.7g/t Au, 16g/t Ag, 22.6% Pb+Zn from 241m. The system remains open to the north; step-out holes 26DDBR011 and 26DDBR016 have been completed and are pending assays.
Depth and central extensions
Drilling has confirmed mineralisation continues at depth. Hole 26DDBR008 returned 1m at 59g/t Ag, 14.3% Pb+Zn, 0.2% Cu from 427.6m and 2m at 1.1g/t Au, 17g/t Ag, 10.3% Pb+Zn from 479m.
Central hole 26DDBR003 intersected multiple mineralised zones: 2m at 30g/t Ag, 1.1% Cu from 328m, 6m at 5.9% Pb+Zn from 338m (including 2m at 14.3% Pb+Zn from 340m), and 3m at 0.2g/t Au, 15g/t Ag, 9.4% Pb+Zn, 0.3% Cu from 360m.
The southernmost assayed hole, 26DDBR002, returned 5m at 0.2g/t Au, 12g/t Ag, 7.9% Pb+Zn, 0.3% Cu from 310m, confirming mineralisation extends across the system’s southern extent.
Shallow oxide gold was intersected in 26DDBR001: 14m at 0.4g/t Au, 5g/t Ag from 61m and 9m at 0.8g/t Au from 120m. This zone is now the target for the newly mobilised RC rig.
| Hole ID | Key Intercept | From (m) | Position in System | Status |
|---|---|---|---|---|
| 26DDBR007 | 21m at 0.4g/t Au, 5g/t Ag, 6.4% Pb+Zn | 229 | Northernmost assayed hole | New result |
| 26DDBR008 | 1m at 59g/t Ag, 14.3% Pb+Zn, 0.2% Cu | 427.6 | Deepest hole (558.2m) | New result |
| 26DDBR003 | 6m at 5.9% Pb+Zn (incl. 2m at 14.3% Pb+Zn) | 338 | Central system | New result |
| 26DDBR002 | 5m at 0.2g/t Au, 12g/t Ag, 7.9% Pb+Zn, 0.3% Cu | 310 | Southernmost assayed hole | New result |
| 26DDBR001 | 14m at 0.4g/t Au (shallow oxide) | 61 | Shallow weathered zone | New result |
| 26DDBR004 | 5.1m at 2.7g/t Au, 8.3% Pb+Zn | 193 | Central high-grade gold zone | Previously reported (15 June 2026) |
| 26DDBR006 | 35m at 0.5% Cu, 6g/t Ag, 1.3% Pb+Zn | 353 | Broad copper zone | Previously reported (15 June 2026) |
All intercepts are down-hole widths; true widths are currently unknown.
Why polymetallic systems like Evergreen matter to investors
Structurally hosted polymetallic mineralisation means multiple metals — zinc, lead, silver, gold, copper — are hosted along fault or geological structures. The fact Evergreen is “open along strike, at depth and up-dip” tells you the deposit isn’t closed off; tonnage can grow with more drilling. The RC rig now targeting the shallow oxide zone is critical: shallow, near-surface mineralisation can be cheaper to mine and supports a resource estimate. Broad-spaced drilling maps the system’s geometry now, so future drilling can focus on higher-grade zones like the area around 26DDBR007.
Glen Diemar, Managing Director
“AGC’s strategy at Evergreen is clearly working, with new assay results continuing to demonstrate the scale and strength of the mineral system. Importantly, drilling is returning mineralisation across multiple structural positions, including the northernmost assayed hole, deeper holes and the southernmost hole assayed to date.”
“Evergreen is still at an early stage of drilling, however all holes with assays returned to date have returned mineralised intervals.”
How Evergreen fits AGC’s South Cobar growth story
Evergreen sits within AGC’s 2,600km² landholding in the South Cobar Basin, NSW. The flagship Achilles discovery (2024) hosts an initial 38.5Moz AgEq Resource (58% Indicated), with drilling ongoing and resource upgrades expected this financial year. Browns–Evergreen, acquired in 2025, is the emerging second resource opportunity approximately 30km away. The recent acquisition of the Junee gold project 230km south adds a pure gold project to the portfolio. Multiple resource opportunities under one company position AGC to grow into a major resource development company.
Capital structure:
- Shares on issue: 332m
- Options: 7.5m
- Performance Rights: 11.5m
- Cash: A$7m (31 July 2026)
- Debt: Nil
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What’s next — the path to a maiden resource
An RC rig has mobilised to test the shallow weathered oxide zone, targeting near-surface mineralisation. Assays are pending for eight completed diamond holes — including northern step-outs 26DDBR011 and 26DDBR016 — which will be important in defining the scale and continuity of the Evergreen system. The company has flagged 7,000m of resource definition drilling underway at Browns–Evergreen, working toward an initial Mineral Resource Estimate.
Near-term catalysts:
- Assays from eight completed diamond holes (including northern step-outs 26DDBR011, 26DDBR016).
- RC drilling results from the shallow oxide zone.
- Declaration of an initial Mineral Resource Estimate at Evergreen (targeted FY27).
Evergreen is advancing toward becoming AGC’s second resource, complementing Achilles and positioning the company to grow its footprint across the South Cobar Basin.
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