HIGH GRADE HISTORIC GOLD MINES DISCOVERED AT SOUTH COBAR PROJECT...

HIGH GRADE HISTORIC GOLD MINES
DISCOVERED AT SOUTH COBAR PROJECT
Rockchips to 24.4g/t Gold
SOUTH COBAR: BASE METALS GOLD TARGETS
 Extensive historic gold mine workings discovered and sampled 35km North of
Lake Cargelligo on EL9336 Rast (1 of 3 tenements in South Cobar Project)
 Mine workings spread over 1.2km in length with a tight cluster of significant
workings 250m in length and as deep as 80m
 First pass sampling designed to determine the prospective rock types
returned:
 rock chips to 24.4g/t gold within the shafts and dumps and
 composite samples to 9.4g/t gold from mine tailings
 Creamy Hills formed in a deformed wedge of folded rock within a back thrust
of the major Woorara fault on the Eastern edge of the Cobar Super Basin
 This location is considered an analogous position to the World Class Cobar
mines including the CSA Copper Mine 20km north of Cobar in the Rookery
fault backthrust on the eastern edge of the Cobar Basin
 Significant potential exists for expanding the footprint as no modern
geochemistry, geophysics or drilling has been conducted and the targets are
open in every direction
 A limited soil sampling test line returned two zones of elevated arsenic
anomalism suggesting multiple stacked mineralised faults. Next steps are to
complete a broader soil survey to highlight high potential gold targets
 Also at the South Cobar Project, geophysics crews will mobilise next week to
conduct three induced polarisation (IP) geophysics surveys, targeting gold and
base metal deposits adjacent to major fault structures at the Achilles, Hilltop,
and Planet prospects
Australian Gold and Copper Ltd (ASX: AGC) (“AGC” or the “Company” is pleased to
provide an update on the South Cobar licences where the AGC discovery team have
uncovered a cluster of historic mines, called Creamy Hills gold mines at the South Cobar
project, spanning 1.2km in length