Breakthrough Results Define Ultra-High Grade Gold Zone
Advance Metals Limited (ASX: AVM) has announced outstanding assay results from its maiden diamond drilling program at the Happy Valley Prospect within the Myrtleford Gold Project in Victoria.
The company's first completed hole (AMD001) returned exceptional gold mineralisation across multiple zones, including a standout intersection of 8.2 metres at 22.4g/t gold from 186.0m, which includes 3.4 metres at an impressive 52.7g/t gold.
Individual assays within these zones reached as high as 93.2g/t gold, confirming the presence of bonanza-grade mineralisation at the project.
Managing Director Adam McKinnon described the results as "exactly what we were hoping for," noting they demonstrate "exceptional gold mineralisation across significant widths at Myrtleford."
The high-grade results aren't isolated, with two additional zones encountered in the same hole:
- 0.9 metres at 19.0g/t gold from 157.8m
- 2.15 metres at 4.0g/t gold from 177.8m
Defining a Coherent Ultra-High Grade Corridor
What makes these results particularly significant is that AMD001 was drilled approximately 20 metres up-dip from a previous hole (HVD003) drilled by Serra Energy Metals, which returned 11.5 metres at 160.4g/t gold.
Together, these two holes define a coherent ultra-high grade zone that remains open down-plunge and along strike, presenting clear expansion potential for the company.
Advance's drilling success adds to the considerable potential of the broader Happy Valley trend, which extends for 13km – with less than 1% tested by drilling to date.
Visible Gold in Multiple Holes Points to Further Success
Results for Advance's second and third diamond holes (AMD002 and AMD003) remain pending but are highly anticipated after the company previously reported visible gold in multiple zones within both holes.
Notably, AMD003 was reported to contain the strongest visual gold mineralisation observed to date, according to previous announcements. This hole was drilled immediately along strike to the northwest of the high-grade AMD001 results announced today.
A fourth hole (AMD004) is currently being drilled, targeting the down-plunge continuity of the system.
Understanding Victoria's Orogenic Gold Systems
Victorian goldfields are known for their orogenic gold systems, characterised by structurally controlled quartz veins hosting high-grade gold. This type of mineralisation typically forms during mountain-building events (orogenies) when deep-seated fluids migrate along major faults and fracture networks.
What makes these systems particularly attractive to investors is their potential for extremely high grades and vertical continuity, often extending to depths beyond 1km. The Fosterville mine, located approximately 100km to the west of Myrtleford, is a prime example of this type of deposit, where gold grades increased significantly at depth.
At Myrtleford, the gold is hosted in shear- or fault-controlled quartz veins within the Ordovician Pinnak Sandstone. These veins often contain up to 2% sulphides including pyrite, arsenopyrite, galena, and sphalerite – typical companion minerals in Victorian gold systems.
Advance's Strategic Position
Advance Metals entered into a binding agreement with Serra Energy Metals (CSE:SEEM, OTCQB:ESVNF) in January 2025 to acquire an 80% interest via joint venture in the Myrtleford and Beaufort Gold Projects.
The company is now actively advancing exploration across the project with:
- Results for holes AMD002 and AMD003 expected mid-April 2025
- Ongoing drilling of AMD004, testing down-plunge potential approximately 50m below AMD002
- Plans to move the diamond rig to the Twist Creek area in the northern portion of the project
- Continuing programs of mapping and rock chip sampling in multiple target areas
- Planning of follow-up drilling at Happy Valley once remaining assays are received
Investment Case: Why Myrtleford Deserves Attention
Advance's Managing Director has drawn comparisons between the company's early exploration success at Myrtleford and Southern Cross Gold's Sunday Creek project, which has developed into "the most significant discovery in Victoria in recent years."
For investors looking at Advance Metals, several compelling factors stand out:
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Exceptional grades: The 8.2m at 22.4g/t gold intersection places AMD001 among the highest-grade holes drilled in the region.
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Exploration upside: With only 1% of the 13km-long Happy Valley trend tested by drilling, the project offers tremendous exploration potential.
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Multiple targets: The broader Myrtleford Project covers 472km² across two exploration licenses, providing numerous additional exploration targets.
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Experienced leadership: Managing Director Adam McKinnon brings technical expertise as a geologist with experience in similar geological settings.
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Near-term catalysts: With results pending from multiple holes and ongoing drilling, investors can expect a steady flow of news in the coming months.
The combination of high grades, visible gold in subsequent holes, and a clear path forward for exploration makes Advance Metals gold drilling results a compelling story for investors interested in the Victoria gold sector. The company's early drilling success at Happy Valley suggests they may have identified a significant high-grade system with considerable expansion potential both along strike and at depth.
Ready to Tap Into This High-Grade Gold Opportunity?
Discover how you can be part of Advance Metals' promising journey at Myrtleford, where exceptional gold grades and multiple mineralised zones point to significant investment potential. To learn more about the company's strategic position in Victoria's renowned goldfields and stay updated on upcoming drilling results, visit Advance Metals' investor page today.
