By Melissa Blewitt

An exploration project about 15 kilometres north-west of Lake Cargelligo has more than doubled in size as Australian Gold and Copper Limited expands its South Cobar Project.
The company’s South Cobar landholding grew from 1,090 square kilometres to about 2,600 square kilometres during the 2025-26 financial year following the acquisition of several exploration licences.
Australian Gold and Copper Limited (ASX: AGC) acquired exploration licence EL 9012 from Strategic Energy Resources for $400,000 and completed the purchase of the Browns/Evergreen Project from Eastern Metals Limited.
The Browns/Evergreen acquisition included four NSW exploration licences – EL 6321, EL 9136, EL 9180 and EL 9565 – for $200,000 in cash and $1.35 million in AGC shares.
The expanded South Cobar Project is one of several exploration assets being developed by the company across NSW.
AGC also reported an initial Mineral Resource Estimate for its Achilles deposit during the financial year, with an estimated 10.3 million tonnes at 116 grams per tonne silver equivalent for a total of 38.5 million ounces of silver equivalent.
The estimate includes 22.5 million ounces classified as Indicated Resources and 16 million ounces as Inferred Resources.
The company said the Achilles resource included both shallow open-pit and deeper underground resources.
AGC reported a net loss after tax of $1.96 million for the year ended 30 June 2026, compared with a loss of $1.09 million the previous year.
The company also raised more than $2.45 million through a share placement during the year, with a second tranche of $2.55 million completed in July following shareholder approval.
In another development, AGC agreed in May to acquire New South Resources Pty Ltd, which owns the Junee Gold Project about 230 kilometres south of South Cobar.
The Junee project has seven drill-ready targets, with the acquisition completed in July for 30 million AGC shares valued at approximately $3.8 million at the time.
The South Cobar Project remains the company’s key exploration area in the region surrounding Lake Cargelligo, with the expanded landholding providing additional ground for future exploration.