Australian Gold and Copper secured a strategic investment worth $10.1 million from Hong Kong's Delin Mining Group Cooperation.

The funds will be utilised to accelerate Australian Gold's exploration portfolio, including five drill ready targets at the South Cobar Project.

The investment involves the placement of over 122 million new shares at 8.3 Australian cents apiece.

Upon completion of the placement, subject to shareholder approval, Delin will hold a 55% stake in Australian Gold.