Australian Gold and Copper (ASX:AGC) said assays from the final hole of a drilling program at the Achilles deposit in its South Cobar project in New South Wales intercepted low-grade copper-zinc mineralization, according to a Tuesday Australian bourse filing.
The zone of copper-zinc mineralization contains up to 0.4% grade of copper and 1.6% grade of zinc.
The copper mineralization represents a new copper-dominant search space, not associated with the Achilles silver-gold-base metal deposit, the filing said.
The company has started a helicopter-borne electromagnetic survey to test for additional mineralization.
The firm's shares jumped past 7% in recent trading on Tuesday.
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