Australian Gold and Copper (AGC) has completed the acquisition of the Browns Reef tenement package from Eastern Metals, significantly expanding its South Cobar project in New South Wales.
The Browns Reef project comprises four tenements (EL6321, EL9136, EL9180, and EL9565), adding 1269 km² of highly prospective exploration tenure. With this acquisition, AGC’s South Cobar footprint now totals 2600 km², making the company the dominant titleholder across the emerging South Cobar mineral province.
“Doubling AGC’s landholding in South Cobar represents a massive growth step for the company,” AGC managing director Glen Diemar said.
“The Browns Reef deposit is an advanced stage target with significant historical drilling along a 6.5 km strike. Browns Reef hosts numerous areas of high-grade mineralisation already drilled spanning hundreds of metres in strike length. There are large gaps where additional mineral inventory will be targeted.
AGC has been reviewing drill core and geological datasets since agreeing to the acquisition and has developed its own interpretation of priority targets.
Its first exploration program at Browns Reef is planned for late in the first quarter of 2026, focusing on drilling at the Evergreen target to deliver a maiden mineral resource estimate.
“We will focus our initial drilling at the silver-gold rich northern prospects, Evergreen and Kelpie Hill, with the potential to deliver an early maiden resource, which will have strong synergies with our Achilles deposit,” Diemar said.
“We welcome EMS and its shareholders onto AGC’s register and look forward to developing our South Cobar project portfolio for the benefit of all AGC shareholders.”
Browns Reef has over 24,000 m of historical drilling along a 6.5 km strike, with strong silver, gold and base metal intercepts. Much of the zone remains untested. Earlier explorers focused on zinc and lead, while AGC will target silver, gold and copper at Evergreen and Kelpie Hill.
The acquisition involved $200,000 in cash, 6.933 million AGC shares to EMS, and a 1.5 per cent net smelter return (NSR) royalty on EL6321. The deal strengthens AGC’s position as a major player in South Cobar and sets the stage for the next phase of exploration.
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