Advance Metals Unveils High Grade Gold Results and 3D Model at Happy Valley

Advance Metals Sharpens Its Gold Targeting with a Powerful New 3D Model at Happy Valley

Advance Metals Ltd (ASX: AVM) has reported final high grade assay results and the completion of a detailed 3D geological model at the Happy Valley deposit, part of the Myrtleford Gold Project in Victoria. The Advance Metals Happy Valley 3D geological model high grade gold results have identified three principal gold-bearing quartz vein systems to at least 500 metres below surface, improving the understanding of gold controls and informing the next phase of drill targeting.

Alongside these technical advances, regional work along the 16 km Magpie-Barwidgee trend at Myrtleford and rock chip sampling at the Beaufort Gold Project in western Victoria is progressing, giving Advance Metals Ltd multiple exploration fronts.

"The final assays from Happy Valley are encouraging, but the key outcome is the improved geological model now in place. It gives us a much clearer understanding of the controls on high grade gold mineralisation and provides a stronger framework for future targeting."

"With Happy Valley already delivering several ultra-high grade intersections, regional exploration continuing along the Magpie-Barwidgee trend and assays pending from Beaufort, the Victorian gold projects continue to provide Advance with meaningful gold exposure alongside our rapidly advancing high grade precious metals portfolio."

Dr Adam McKinnon, Managing Director and CEO, Advance Metals Ltd

Final Assays Confirm High Grade Gold at Happy Valley

The ASX announcement reports that all remaining assays from the recent Happy Valley diamond drilling program have now been received. Two HQ2 diamond core holes, AMD029A and AMD030, were drilled with near-100% core recovery and systematically sampled.

Key reported intersections are:

According to Advance Metals Ltd, intervals are reported using a nominal 0.5 g/t Au cut off, on a length-weighted basis. True widths are estimated at approximately 60–70% of the down-hole intervals, reflecting the angle between drilling and the interpreted mineralised structures.

The 131.5 g/t Au result over 0.2 m within AMD029A is one of several ultra high grade intersections reported historically from Happy Valley. Such grades, while narrow, are consistent with Victorian high grade vein-style systems and provide evidence of strong gold tenor within the Porpunkah Reef.

For investors, these results support the presence of a high grade vein system, rather than a low grade halo with occasional isolated spikes. Furthermore, they provide critical data points that have been incorporated into the new 3D geological model.

The New 3D Model and What It Changes for Happy Valley

Completion of the 3D geological model is presented in the announcement as a central outcome of the recent program. The model aggregates drilling data, structural measurements, historic mine records and geological observations into a spatial framework that can be used to predict where gold-bearing structures occur at depth.

According to the Advance Metals Happy Valley 3D geological model high grade gold results, key outcomes from the model include:

1. Three main gold-bearing quartz veins have been interpreted at Happy Valley, each extending to at least 500 m below surface.
2. High grade gold shoots are interpreted to develop where these quartz veins intersect, forming sub-vertical plunges to the southeast.
3. Post-mineralisation southwest-dipping faults appear to offset the quartz veins, displacing mineralisation at depth.

This structural interpretation has several practical implications:

• It allows geologists to predict where the thickest or highest grade parts of the reefs may occur.
• It helps explain offsets or apparent gaps in historic drilling.
• It provides a guide to positioning future drill holes to intersect the most prospective parts of the system.

The company states that this model is expected to significantly improve future drill targeting at Happy Valley, particularly for:

• Down-plunge extensions of known high grade shoots.
• Potential repetitions of mineralisation where faults have offset the reefs.
• Untested positions within the Happy Valley system where similar structural conditions may occur.

The same structural concepts are also expected to inform targeting across the wider Myrtleford Project, where multiple historic workings remain without modern drilling.

Educational Focus: What Is a 3D Geological Model and Why Does It Matter?

For many investors, the term 3D geological model can sound technical, but its function is relatively straightforward.

What Is a 3D Geological Model?

A 3D geological model is a digital, three-dimensional representation of the rocks and structures underground. It usually includes:

• Rock types and their boundaries.
• Mineralised zones where gold or other metals have been identified.
• Faults and folds, which are breaks and bends in the rock.
• Historic workings such as old mine shafts and tunnels.

The model is built using drill hole data (assays, geology logs, structural measurements), surface mapping, geophysical and topographic data such as LiDAR, and historic mine plans and production records where available.

Why Does It Matter for Exploration?

Without a 3D model, geologists often rely on 2D sections and maps. This can make it difficult to understand how structures link up at depth, especially in folded and faulted terrains such as the Victorian goldfields.

A 3D model helps to:

• Plan holes in locations that are more likely to hit mineralisation.
• Select the best angle and depth for drilling, improving efficiency.
• Understand where high grade zones may continue down-plunge.
• Make sense of why some holes miss despite being close to historic workings.

From an investor perspective, more accurate targeting can improve the ratio of successful drill holes to total holes drilled, reduce drilling of unproductive areas, and support faster definition of mineralised zones that may later be evaluated for resources, subject to sufficient drilling.

Advance Metals Ltd has emphasised that the new Happy Valley model delivers a "stronger framework for future targeting", which aligns with these general benefits of 3D modelling.

Glossary of Key Terms Used in the Announcement

• g/t Au: Grams of gold per tonne of rock. Higher values indicate more gold. Many underground deposits are considered attractive at averages above about 5 g/t, depending on other factors.
• Quartz vein / reef: Sheet-like bodies of quartz that fill fractures in the rock. In Victoria, many historic gold mines were developed on quartz reefs.
• HQ2 diamond drilling: A type of core drilling that produces core around 63.5 mm in diameter. It allows detailed geological logging and structural measurement.
• LiDAR: Light Detection and Ranging, a laser-based survey that produces very detailed surface elevation data, useful for mapping old workings and subtle landforms.
• Sub-vertical plunge: A steep downward path that a mineralised shoot follows into the ground. Knowing the plunge direction helps target deeper extensions.
• Post-mineralisation fault: A fault that moved after the gold was deposited, potentially shifting parts of the orebody sideways or up and down.

Regional Scale Work: Magpie-Barwidgee Trend at Myrtleford

Beyond Happy Valley, Advance Metals Ltd reports that regional exploration is active along the 16 km Magpie-Barwidgee trend within the Myrtleford Project. This work focuses on historic gold workings that have not been drill tested using modern methods.

The current program includes geological mapping of old workings and outcrops, rock chip sampling around historic mine sites, integration of re-processed high resolution LiDAR data to accurately locate historic adits, shafts and surface features, and compilation of historic gold production records.

From this work, several priority targets have been generated:

The Sunday target is of particular geological interest, as the Beechworth alluvial field was historically one of Victoria's more productive alluvial gold areas. Identifying the primary hard rock source could be important for the overall Myrtleford concept, subject to drilling results.

According to the announcement, the regional program is designed to define maiden drill targets along the trend and assess the potential for additional high grade gold deposits within the Myrtleford Project area.

For investors, the key point is that Happy Valley is one part of a broader district-scale setting where multiple targets are now being systematically evaluated using modern data and methods.

Beaufort Gold Project: Rock Chip Assays Pending

At the Beaufort Gold Project in western Victoria, Advance Metals Ltd has reported completion of an initial rock chip sampling program comprising 46 samples. The program was designed to test locations where three factors coincide: gold-in-soil anomalies reported in previous work, outcropping quartz veins visible at surface, and proximity to major regional structures including the Navarre, Camp Hill and Paradise Faults.

According to the announcement, quartz veins and shallow workings at Beaufort locally reach up to 5 metres in width, and some of these structures can be traced for several hundred metres along strike.

Laboratory assays for the 46 rock chip samples are pending. Once results are received and assessed, the company plans to evaluate the geochemical results in the context of mapped structures, define the highest priority targets, and consider follow-up work including possible drilling of those targets.

For investors, the Beaufort assays represent a near-term news event. Consequently, positive results could complement the Myrtleford portfolio and provide another set of targets in a separate part of Victoria.

Upcoming Work Programs and Potential News Flow

The ASX announcement sets out the next steps for both the Myrtleford and Beaufort projects. These can be summarised as follows:

These activities indicate a pipeline of potential news items, including interpretation of the 3D model into specific drill programmes at Happy Valley, identification of first-pass drill targets along the Magpie-Barwidgee trend, and initial geochemical characterisation of Beaufort quartz veins.

The extent to which these programmes translate into resource definition or economic studies will depend on future drilling results and ongoing technical evaluation.

Investment Context: How This Update Positions Advance Metals Ltd

While the ASX announcement is technical in nature, several themes emerge that may be relevant for investors assessing Advance Metals Ltd:

1. Evidence of high grade gold at Happy Valley
   Reported intercepts such as 1.8 m at 15.2 g/t Au including 0.2 m at 131.5 g/t Au support the presence of locally ultra high grade mineralisation in the Porpunkah Reef. These results are typical of narrow vein Victorian systems, where grade rather than thickness often drives potential value, subject to continuity and mining considerations.

2. Improved structural understanding and targeting efficiency
   The Advance Metals Happy Valley 3D geological model high grade gold results, with three main quartz veins mapped to at least 500 m depth and high grade shoots interpreted at vein intersections, provide a more defined search space for further drilling. For a company at the exploration stage, better targeting can influence how efficiently capital is deployed.

3. District-scale exploration at Myrtleford
   The 16 km Magpie-Barwidgee trend, with multiple targets such as Sunday and Magpie, adds a regional dimension beyond a single deposit. If drilling ultimately validates additional high grade systems, Myrtleford could host multiple prospects managed within one project area, although this remains to be tested.

4. Portfolio diversification with Beaufort
   The Beaufort Gold Project offers exposure to a second Victorian goldfield, with early stage sampling focused on structurally controlled quartz veins. Pending rock chip assays will help determine whether this area warrants more intensive drilling.

5. Technical leadership
   The technical work, including 3D modelling and structural interpretation, has been compiled and reviewed by Dr Adam McKinnon, a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and the Competent Person for the announcement. This indicates that Advance Metals Ltd is integrating specialist geological input into its exploration strategy.

For investors following ASX-listed gold explorers, this update suggests that Advance Metals Ltd is moving from broad confirmation drilling at Happy Valley toward more targeted drilling guided by a detailed structural model, while also advancing regional and secondary project workstreams. However, the value impact of these activities will ultimately depend on future assay results, drill programme outcomes and market conditions for gold.

Ready to Explore What Advance Metals Is Building in Victoria's Goldfields?

With high grade gold confirmed at Happy Valley, a powerful new 3D geological model sharpening drill targets to at least 500 metres depth, and multiple exploration fronts active across both the Myrtleford and Beaufort projects, Advance Metals Ltd (ASX: AVM) is positioning itself as a serious contender in Victorian gold exploration. Investors looking to learn more about the company, its projects, and how to get involved can head to the Advance Metals investor page for the latest updates and information.