Australian Gold and Copper Limited’s Gundagai Gold Project (EL8955)
Drill Ready Gold and Polymetallic Targets
The Gundagai project consists of an exploration licence covering 265km2 (EL8955 ‘Gundagai’) and comprises multiple drill ready prospects considered prospective for McPhillamys-style gold (e.g. Grandview), epithermal gold-copper (e.g. Rosehill) and large-tonnage zinc-lead-silver prospects (e.g. Bongongalong).
Gold prospects show similarities to the Late Silurian hosted McPhillamys 2.3Moz Gold Deposit (ASX:RRL). The drill ready Grandview Gold Prospect is characterised by a zone of sheared quartz-sericite-carbonate-pyrite altered volcaniclastics returning up to 35g/t Au in composite rockchips and represents a near term high-grade gold discovery opportunity.
The Gundagai project straddles the mafic volcanics of the Ordovician Jindalee Group with deformed serpentinites, early to late Silurian sediments and intermediate volcanics. Main Ridge is a 4km trend of sheared, gold-bearing, sediments, analogous to the Silurian rocks of AGC’s Grandview prospect. Mineralisation at Grandview is thought to be late Silurian in age with gold up to 35g/t in composite rockchips being associated with disseminated and structurally hosted pyrite, similar to the McPhillamys deposit.