Drilling Commences with Stellar Previous Results Up to 271.6g/t Gold
Advance Metals Limited (ASX: AVM) has announced the recommencement of diamond drilling at its high-grade Happy Valley Prospect within the Myrtleford Project in Victoria's historic goldfields. The program follows exceptional results from earlier drilling campaigns which delivered spectacular gold grades.
The first hole, AMD009, is now underway targeting a zone approximately 20 meters below a previous intersection of 7.5 meters at 47.9g/t gold including an extraordinary 1.3 meters at 271.6g/t gold from hole AMD003. The new hole will also test along strike from previous high-grade intersections, including an exceptional 11.5 meters at 160.4g/t gold from hole HVD003.
"We're excited to build on our earlier success at Happy Valley with this new drilling program," said Dr. Adam McKinnon, Managing Director and CEO of Advance Metals. "The exceptional grades encountered in our previous drilling confirm the high-grade nature of this Victorian goldfield, and we're eager to test extensions of these mineralized zones."
Comprehensive Drilling Campaign Targets Multiple High-Grade Prospects
The company has outlined an ambitious drilling program that extends beyond Happy Valley:
- At least six additional diamond holes planned at Happy Valley targeting extensions up/down plunge and along strike
- Maiden drilling at Sheard's Reef and Queen of the Hills to follow immediately
- Drilling will cover a six-kilometer portion of the broader Happy Valley Trend
- Final assays pending for four holes (AMD005-008) from the previous Twist Creek program
This new diamond drilling at Advance Metals is occurring simultaneously with Advance's maiden drilling program at its high-grade Yoquivo Silver-Gold Project in Chihuahua, Mexico, demonstrating the company's commitment to advancing multiple high-potential assets.
| Previous Happy Valley Drilling Highlights | |
|---|---|
| AMD001 | 8.2m @ 22.4g/t Au incl. 3.2m @ 54.7g/t Au |
| AMD002 | 2.9m @ 6.7g/t Au |
| AMD003 | 7.5m @ 47.9g/t Au incl. 1.3m @ 271.6g/t Au |
| AMD004 | 1.1m @ 18.2g/t Au |
| HVD003 | 11.5m @ 160.4g/t Au |
| HVD015 | 7.15m @ 10.5g/t Au |
Initial results from the new program are expected in July 2025.
Understanding Bonanza Gold Grades: What 271.6g/t Gold Really Means
When companies report gold grades like 271.6g/t, investors should understand the significance of these exceptional values. For context:
A gold grade of 1g/t means that for every tonne of rock, there is 1 gram of gold. At 271.6g/t, each tonne of rock contains 271.6 grams of gold – approximately 8.7 troy ounces. With gold currently trading around US$2,000 per ounce, this represents a theoretical in-ground value of US$17,400 per tonne of rock.
Grades above 5g/t are generally considered high-grade in the gold mining industry, while anything above 30g/t is exceptional. Intersections above 100g/t, like those at Happy Valley, are referred to as "bonanza grade" and are extremely rare globally.
The presence of these bonanza grades at Happy Valley places the Myrtleford Project among the highest-grade gold discoveries, though investors should note that grade is just one factor in determining economic viability. Width, continuity, and metallurgical recovery also play crucial roles in determining a deposit's value.
Strategic Asset Portfolio and Upcoming Catalysts
Advance Metals is strategically positioned with high-grade gold and silver assets in tier-one mining jurisdictions:
- Myrtleford Project (Victoria, Australia) – 80% interest via joint venture with Serra Energy Metals Corp
- Beaufort Gold Project (Victoria, Australia) – 80% interest via joint venture with Serra Energy Metals Corp
- Yoquivo Silver-Gold Project (Chihuahua, Mexico) – Concurrent maiden drilling program underway
Key upcoming catalysts include:
- Results from current Happy Valley drilling program (expected July 2025)
- Pending assays from four holes at Twist Creek (expected imminently)
- Maiden drilling results from Sheard's Reef and Queen of the Hills
- Initial results from Yoquivo Silver-Gold Project in Mexico
These multiple drilling programs provide shareholders with significant news flow potential over the coming months.
Victorian Goldfields: A World-Class Gold Province
The Victorian Goldfields have experienced a remarkable renaissance in recent years, with companies like Kirkland Lake Gold (now Agnico Eagle) demonstrating the potential for modern exploration techniques to uncover world-class high-grade gold deposits in this historic region.
The Fosterville Gold Mine, located in the same geological province as Advance's Myrtleford Project, evolved from a modest operation into one of the world's highest-grade and lowest-cost gold mines, with peak grades exceeding 30g/t gold. This transformation has sparked renewed interest in Victoria's goldfields, with companies like Advance Metals applying modern exploration techniques to areas with historical high-grade production.
Happy Valley's historical production reportedly averaged around 31g/t gold, and Advance's drilling results confirm the continuation of this exceptional mineralisation at depth and along strike.
Why Investors Should Follow Advance Metals
Advance Metals represents a compelling investment opportunity for several key reasons:
- Exceptional grades – Intersections including 11.5m at 160.4g/t gold and 7.5m at 47.9g/t gold rank among the highest-grade gold discoveries globally
- Multiple high-potential targets – Beyond Happy Valley, the company has identified numerous prospects along a six-kilometer trend
- Diversified portfolio – High-grade assets in two tier-one mining jurisdictions (Australia and Mexico)
- Experienced leadership – Led by Dr. Adam McKinnon, a technical expert with the relevant expertise in this style of mineralisation
- Consistent news flow – Multiple drilling programs ensure regular updates and potential value-creating catalysts
The company's focus on high-grade gold and silver assets in established mining jurisdictions provides a solid foundation for growth, while the exceptional grades encountered at Happy Valley suggest significant upside potential as drilling continues to define the extent of mineralisation.
With initial results from the current drilling program expected in July 2025 and multiple other catalysts on the horizon, Advance Metals offers investors exposure to potentially transformative exploration results in the months ahead.
Ready to Capitalise on Extraordinary Gold Grades?
Discover how Advance Metals Limited (ASX: AVM) is unlocking exceptional gold potential across multiple high-grade prospects in tier-one mining jurisdictions. With bonanza intersections of up to 271.6g/t gold already identified and new drilling results expected soon, now is the time to evaluate this compelling investment opportunity. Visit Advance Metals' investor centre to access detailed presentations, latest announcements and register for updates on their progress at Happy Valley and beyond.
