Spectacular Initial Results Drive Expanded Exploration Campaign
Following the completion of its maiden eight-hole drilling program at the Myrtleford Project, Advance Metals has moved quickly to capitalise on extraordinary early success. The first four holes at the Happy Valley prospect delivered consistent high-grade gold discovery at Advance Metals, with impressive intercepts:
- 8.2 meters at 22.4g/t Au including 3.2 meters at 54.7g/t Au
- 2.9 meters at 6.7g/t Au
- 7.5 meters at 47.9g/t Au including 1.3 meters at 271.6g/t Au
- 1.1 meters at 18.2g/t Au
These impressive results have prompted the company's board to approve a significant expansion of the drilling program, with ten new holes planned to target extensions along a six-kilometer section of the Happy Valley Trend.
"The intersection of high to very high grade gold mineralisation in all four of the initial holes at Happy Valley has given the Company significant confidence in the ongoing potential of the system," stated Advance Metals in its announcement.
Strategic Expansion Along Strike
The follow-up program includes:
- Six additional diamond holes at Happy Valley targeting extensions up-plunge, down-plunge, and along strike
- Two maiden holes at Sheard's Reef, located 1.5km west-northwest of current drilling
- Two maiden holes at Queen of the Hills, situated 4.5km east-southeast
This systematic approach will test a substantial section of the Happy Valley Trend, building on recent rock chip samples that returned values up to 42.5g/t Au at Sheard's Reef.
Understanding Victorian Goldfields Geology
The Victorian Goldfields are known for their structural complexity and high-grade gold systems. The Myrtleford Project sits at the boundary of Early and Late Devonian magmatism, with mineralisation typically hosted in quartz veins within the Ordovician Pinnak Sandstone.
The area is characterised by multiple deformation events, with significant folding, faulting, and the development of complex structural features. These tectonic activities played a key role in the emplacement and deformation of mineralised zones.
Gold mineralisation at these deposits is primarily found in narrow, high-grade quartz reefs that are structurally controlled. These veins often contain up to 2% sulphides including pyrite, arsenopyrite, galena, and sphalerite. The structural control creates steeply dipping, northwesterly striking quartz reefs associated with dextral and reverse faulting.
This geological setting has historically yielded significant gold production across Victoria, with many high-grade deposits sharing similar characteristics to what Advance is now discovering at Myrtleford.
Regional Exploration Potential
Beyond the immediate Happy Valley area, Advance has completed four holes at the Twist Creek region, located approximately 45 kilometers west-northwest. Results from these holes are pending, with additional drilling planned based on these outcomes.
The company is also evaluating potential drilling at the Barwidgee Creek Trend in the central portion of the Myrtleford Project, where recent rock chip sampling returned grades up to 24.8g/t Au.
Investment Potential in an Emerging Gold Play
Advance Metals positions itself as an emerging player in Victoria's gold sector, with several factors making the company worth watching:
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Proven High-Grade Potential: The initial drilling results have confirmed the presence of exceptionally high-grade gold mineralisation.
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Strategic Land Position: The company has secured an 80% interest via joint venture in the Myrtleford and Beaufort Gold Projects through a binding agreement with Serra Energy Metals Corp.
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Systematic Exploration Approach: The company is methodically testing extensions along strike and at depth, maximising the potential for significant resource definition.
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Multiple Target Areas: Beyond Happy Valley, the extensive land package contains multiple prospective areas with historical workings and encouraging surface sampling results.
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Experienced Leadership: The exploration program is being led by Dr. Adam McKinnon, Managing Director and CEO, who brings relevant expertise in the style of mineralisation being targeted.
Why Investors Should Track Advance Metals
The Victorian Goldfields region has experienced a renaissance in recent years, with several companies making significant discoveries and building substantial market valuations. Advance Metals appears to be following a similar trajectory, with its initial drilling success potentially representing the early stages of a significant high-grade gold discovery at Advance Metals.
With drilling set to recommence in approximately four weeks, investors can expect a steady flow of news as the company advances its systematic exploration program. The combination of spectacular initial results, a large land package, and multiple target areas provides numerous potential catalysts for share price appreciation.
For gold investors seeking exposure to high-grade exploration opportunities, Advance Metals offers a compelling investment case at this early stage of its development.
What Makes Victorian Goldfields Gold Systems Distinctive?
Victorian Goldfields gold systems possess several distinctive characteristics that differ from other major gold provinces:
Structural Complexity: The gold-bearing structures in Victoria typically result from multiple deformation events, creating a complex network of faults, folds, and shear zones that control mineralisation.
High Grades: Victorian gold deposits are renowned for their extremely high grades, often containing bonanza-grade zones exceeding 30g/t gold within narrower veins.
Quartz-Dominated Mineralisation: Unlike many other gold provinces where mineralisation may be disseminated throughout rock masses, Victorian gold is primarily hosted in quartz veins with limited alteration halos.
Nuggety Gold Distribution: Gold distribution is frequently erratic, with visible gold common but irregularly distributed, creating challenges for resource modelling but opportunities for spectacular intercepts.
Orogenic Setting: These deposits formed during mountain-building events (orogenies) where deep-seated structures provided pathways for gold-bearing fluids to migrate upward from the lower crust.
The combination of these factors creates gold systems that can be challenging to explore but potentially highly rewarding, as evidenced by Advance Metals' recent high-grade gold discovery at Advance Metals' Myrtleford project.
Project Background and Access
The Myrtleford Project comprises two exploration licences (EL006724 & EL007670) covering an area of 472km². Advance Metals acquired an 80% interest in the project through a binding agreement with Serra Energy Metals Corp. in January 2025.
The exploration area contains no significant urban sites and consists primarily of state forest, softwood plantations, and grazing lands, providing accessible exploration ground. However, portions of the licence area are subject to Indigenous Land Use Agreement requirements with the Taungurung Land and Water Council Aboriginal Corporation.
The project area contains several historical mine sites with adits and shafts, highlighting the region's rich mining heritage. These historical workings provide valuable geological information but also require careful environmental management to ensure water quality standards are maintained in accordance with Environmental Protection Authority requirements.
With drilling set to recommence shortly, Advance Metals is well-positioned to build on its early success and potentially establish a significant new gold discovery in this historically productive goldfield.
Want to Be Part of Victoria's Next Major Gold Discovery?
Advance Metals' spectacular high-grade gold intercepts at the Myrtleford Project represent a compelling investment opportunity in Victoria's renowned goldfields. With drilling set to recommence and an expanded exploration program targeting a six-kilometre section of the highly prospective Happy Valley Trend, now is the time to consider the potential upside. Visit Advance Metals' investor page to learn more about this emerging gold story and stay updated on the next phase of drill results.
