Australian Gold and Copper Ltd (ASX: AGC) has addressed queries raised by the ASX regarding its initial mineral resource estimate (MRE) for the Achilles deposit, containing 38.5 million ounces of silver equivalent, as announced on December 11, 2025. Australian Gold and Copper Ltd is actively exploring and developing precious and base metal projects in the Lachlan Fold Belt of NSW. The company is focused on building a significant resource base in the South Cobar region.
AGC provided additional disclosures related to the estimation methodology, particularly concerning the extrapolation of inferred resources and the use of portable XRF (pXRF) data. The company clarified that the maximum extrapolation distance approximated the maximum search radius of 100 metres, with 19% of the MRE based on extrapolated data. It was also stated that pXRF readings were only used for unmineralised intervals in the hanging wall to prevent higher grades being extrapolated into those areas, and no resource classification was applied to areas with pXRF readings.
Further amendments were made to JORC Table 1, Section 2, to include references to ASX releases containing detailed drill hole information. The company confirmed that down hole widths are estimated to be near true widths. An amended version of the initial resource estimate announcement has been released to the ASX.
AGC’s Managing Director, Glen Diemar, highlighted the company’s strategy to build a significant precious and base-metal endowment in the South Cobar region of Central NSW. Further additions to the underground MRE are expected next year, with recent drill holes not included in the initial MRE due to assay timing. The company will also be working towards a new MRE at the Browns Reef – Evergreen deposit, with 10,000m of resource definition drilling planned to commence in March 2026.
