Australian Gold and Copper (ASX:AGC) has discovered an extensive zone of strong base-metal and gold anomalism at the Gundagai Project over a 5km trend.

The exploration company said this marks the first modern exploration in 43 years at the Bongongalong target within the project, with recent rock chip samples revealing gold up to 2.9g/t and silver up to 245g/t.

It also said it plans further sampling at the site and is considering follow-up geophysics and potential drill testing.

Australian Gold and Copper's share price is up 16% at 12:21pm AEST.