Advance Metals Secures Approvals for Expanded Drill Program at High-Grade Myrtleford Gold Project
Advance Metals Limited (ASX: AVM) has received all necessary approvals to recommence drilling across three sites on the Happy Valley Trend at its high-grade Myrtleford Gold Project in Victoria, Australia. The company is now preparing sites for an expanded 10-hole drilling program at Advance Metals Ltd, with drilling contractors expected to mobilise within 7-10 days.
Stunning High-Grade Results Drive Ambitious Follow-Up Program
The expanded drilling program follows exceptional results from Advance's maiden drilling campaign at Happy Valley, which delivered remarkable high-grade intercepts including:
- 8.2 metres at 22.4 g/t gold including 3.2 metres at 54.7 g/t gold in hole AMD001
- 7.5 metres at 47.9 g/t gold including 1.3 metres at 271.6 g/t gold in hole AMD003
- 2.9 metres at 6.7 g/t gold in hole AMD002
- 1.1 metres at 18.2 g/t gold in hole AMD004
The new program will include at least six additional diamond holes targeting extensions both up and down plunge and along strike in both directions at the Happy Valley Prospect.
"Receiving these approvals is a significant milestone for our exploration efforts at Myrtleford. The exceptional high-grade results from our initial drilling campaign have given us strong confidence to expand our program and systematically test the broader potential of the Happy Valley Trend," commented Dr. Adam McKinnon, Managing Director and CEO of Advance Metals.
Expanding Exploration Along 6km of the Happy Valley Trend
The program's scope extends well beyond the initial Happy Valley discovery, with maiden diamond drilling planned at:
- Sheard's Reef – Located 1.5km west-northwest of Happy Valley, where rock chip samples returned values up to 42.5 g/t gold
- Queen of the Hills – Situated 4.5km east-southeast along the trend
This strategic approach will test a full six-kilometer stretch of the highly prospective Happy Valley Trend, significantly expanding the project's potential resource footprint.
| Location | Distance from Happy Valley | Previous Sampling Results | Planned Drilling |
|---|---|---|---|
| Happy Valley | Central location | Up to 271.6 g/t Au in drilling | 6+ diamond holes |
| Sheard's Reef | 1.5km west-northwest | Rock chips up to 42.5 g/t Au | 2 diamond holes |
| Queen of the Hills | 4.5km east-southeast | Along same structural trend | 2 diamond holes |
Understanding High-Grade Gold Intercepts
The gold grades encountered at Myrtleford deserve explanation to properly understand their significance. In gold exploration, intercepts are typically reported as the length of the mineralised zone and the average gold grade within that zone.
What Makes Gold "High-Grade"?
Gold grades are typically reported in grams per tonne (g/t), representing how many grams of gold are present in one metric tonne of rock:
- 0.5-1.5 g/t: Generally considered low-grade
- 1.5-5.0 g/t: Medium-grade
- 5.0-15.0 g/t: High-grade
- >15.0 g/t: Very high-grade
- >30.0 g/t: Exceptional grade
With intercepts including zones of 271.6 g/t gold, Advance's results represent extremely high grades that could potentially enhance project economics. For context, many operating gold mines around the world process ore with average grades between 1-3 g/t.
The Victorian Goldfields Context
The Victorian Goldfields are known for their structural complexity and "nuggetty" gold distribution. Gold typically occurs within quartz veins that follow structural features such as fold hinges and fault zones. These systems can be extremely valuable but require detailed drilling to understand their geometry and continuity.
The combination of thick intervals (up to 8.2 meters) and high grades at Happy Valley suggests a robust mineralised system with significant economic potential. The presence of visible gold in drill core is often associated with these exceptional grades.
Two-Pronged Exploration Strategy Underway
Investors should note that Advance is pursuing a dual-track exploration strategy, with drilling at Myrtleford occurring concurrently with the company's maiden drilling program at its high-grade Yoquivo Silver-Gold Project in Chihuahua, Mexico.
Additional results are expected shortly from four holes (AMD005-008) drilled in the Twist Creek region, with assays anticipated by mid-June.
Strategic Acquisition Creates Value Proposition
Advance recently entered into a binding agreement with Serra Energy Metals Corp. to acquire an 80% interest via joint venture on the high-grade Myrtleford and Beaufort Gold Projects. This strategic acquisition gives Advance control of a significant footprint in one of Australia's most prospective gold regions.
The Victorian Goldfields have experienced a renaissance in recent years following spectacular discoveries by companies like Kirkland Lake Gold (now Agnico Eagle) at Fosterville, where similar high-grade gold mineralisation was identified.
Why Investors Should Track Advance Metals
Advance Metals offers investors exposure to multiple high-potential precious metals projects with several near-term catalysts:
- Multiple high-grade gold intercepts already demonstrated at Happy Valley
- Expanded drilling program commencing imminently with potential for additional discoveries
- Regional exploration strategy testing 6km of prospective ground
- Pending assay results from Twist Creek due mid-June
- Parallel exploration at the Yoquivo Silver-Gold Project in Mexico
- Experienced technical team led by Dr. Adam McKinnon with expertise in Victorian gold systems
The company's systematic approach to testing multiple targets along the Happy Valley Trend demonstrates a methodical exploration strategy focused on building resource potential across the project area. With drilling about to restart and results expected to flow in the coming months, Advance Metals represents an exciting exploration opportunity in a tier-one mining jurisdiction known for world-class gold deposits.
Technical Understanding: Drill Program Design
Advance's expanded drilling program has been strategically designed to test multiple scenarios and maximise the chance of success:
Up and Down Plunge Extensions
Gold-bearing structures often have a specific orientation or "plunge" that controls the distribution of mineralisation. By drilling both up and down plunge from the known intercepts, Advance aims to define the vertical extent and continuity of the high-grade zones.
Along Strike Testing
The "strike" refers to the horizontal direction of the mineralised structure. Advance's plan to drill along strike in both directions will help determine how far the gold mineralisation extends horizontally and whether it maintains its high-grade character.
Regional Structural Context
The decision to test multiple locations along the 6km Happy Valley Trend indicates the company's understanding of the regional structural controls on gold mineralisation. This approach acknowledges that similar geological conditions might create comparable high-grade gold deposits at regular intervals along the same structural corridor.
With site preparation now underway and drilling equipment being mobilised, Advance Metals is positioned to generate substantial news flow in the coming months as it systematically explores this highly prospective gold system.
Ready to Capitalise on High-Grade Gold Potential?
For investors seeking exposure to exceptional high-grade gold opportunities in Victoria's renowned goldfields, Advance Metals offers a compelling investment case with multiple near-term catalysts. To learn more about their expanded drilling program at the Myrtleford Gold Project and stay updated on upcoming results, visit Advance Metals' investor centre today.
