Golden Discovery: Advance Metals Expands High-Grade Zone at Happy Valley
Advance Metals Limited (ASX: AVM) has announced exceptional new drill results from its Myrtleford Project in Victoria's historic goldfields, with the latest hole intersecting 9.4 meters at 20.2g/t gold, further confirming the property's remarkable high-grade potential.
Latest Drilling Results Reveal Exceptional Gold Grades
The first assay results from Advance's recently recommenced diamond drilling program at the Happy Valley Prospect have delivered outstanding gold intercepts, continuing the company's run of exploration success at the site. Hole AMD009 returned three significant zones of gold mineralisation:
- 2.0 meters at 7.0g/t Au from 169.1m
- 2.5 meters at 8.4g/t Au from 179.8m (including 0.8 meters at 25.9g/t Au)
- 9.4 meters at 20.2g/t Au from 196.2m (including 3.2 meters at 44.2g/t Au)
These latest results expand a zone of exceptionally high-grade gold in the central portion of the deposit, with the lower mineralisation hosted in a broad zone of laminated and massive quartz veins with minor sulphides and gold grades up to 83.5g/t.
"The exceptional gold grades we are now seeing hole after hole are really encouraging," said Managing Director Dr. Adam McKinnon. "The quality of these results bode well for the ongoing potential of the Happy Valley Prospect and also the broader trend. I am particularly pleased to see that the gold mineralisation appears fairly contiguous, allowing us to effectively target our follow-up exploration programs."
Building on Previous Success
This new intersection follows impressive results from Advance's maiden drilling campaign earlier this year, which included:
| Hole ID | Intercept | Highlight |
|---|---|---|
| AMD001 | 8.2m at 22.4g/t Au | including 3.2m at 54.7g/t Au |
| AMD002 | 2.9m at 6.7g/t Au | – |
| AMD003 | 7.5m at 47.9g/t Au | including 1.3m at 271.6g/t Au |
| AMD004 | 1.1m at 18.2g/t Au | – |
The mineralisation in AMD009 appears contiguous with the high-grade intersections in AMD003, which is located approximately 25 meters up-dip. This connectivity between high-grade zones is particularly encouraging for future resource definition.
Understanding Visible Gold in Victorian Deposits
The presence of visible gold in core samples, as seen in AMD009 at 201.6 meters (within a zone grading 3.2m at 44.2g/t Au), is a characteristic feature of Victorian goldfields deposits.
Visible gold in Victorian deposits typically occurs in quartz veins associated with sulphide minerals like arsenopyrite (as seen in the AMD009 core). These gold particles can range from microscopic to several millimeters in size and often indicate proximity to the main mineralised structures. While visible gold is exciting to observe, it's the systematic distribution of gold throughout the quartz reef systems that makes Victorian deposits economically significant.
The nuggety nature of gold in these systems means careful sampling and assaying protocols are essential for accurate grade determination. Advance Metals is employing best practices in core handling and analysis to ensure reliable results.
Expanding Exploration Program
Diamond drilling continues at Happy Valley with assays pending for two additional holes (AMD010 & AMD011A) targeting areas up-dip and along strike from the high-grade hole AMD003. Subsequent drilling will test the broader potential of the Happy Valley system, including:
- The deepest drilling of the system to date
- Testing shallower portions of the deposit
- Exploring new prospects along the 13-kilometer trend to the northwest and southeast
This systematic approach to exploration will help Advance develop a comprehensive understanding of the deposit's geometry and grade distribution, essential for any future resource estimation.
Significant Upside in the Broader Myrtleford Project
The current drilling footprint at Happy Valley represents only a small portion of the larger 13-kilometer trend within the Myrtleford Project. The company has identified multiple prospects along strike that show similar geological characteristics to Happy Valley, providing significant exploration upside.
Advance Metals holds a commanding land position in this historically productive gold district, with the Myrtleford Project comprising two exploration licenses (EL006724 & EL007670) covering an area of 472 square kilometers. The company recently acquired an 80% interest in the project and is the current operator.
Victorian Goldfields Geology
The Myrtleford Project is situated at the boundary of Early and Late Devonian magmatism, surrounded by Devonian-aged granite bodies, and influenced by the Lachlan Orogeny. This tectonic activity caused significant folding, faulting, and the development of an "oroclinal bend" structure, similar to the Bendigo Zone's geological environment.
Gold mineralisation in the region is primarily hosted in shear- or fault-controlled quartz veins within the Ordovician Pinnak Sandstone. These veins, ranging from less than 1 meter to 12 meters in width, often contain up to 2% sulphides, including pyrite, arsenopyrite, galena, and sphalerite.
The mineralisation is structurally controlled, with steeply dipping, northwesterly striking quartz reefs associated with dextral and reverse faulting. The current drilling results confirm this structural control, with the high-grade zones at Happy Valley aligning with the broader regional patterns.
Why Investors Should Follow Advance Metals
Advance Metals offers investors exposure to a high-grade gold exploration project in one of Australia's premier gold provinces. The Victorian Goldfields have produced over 80 million ounces of gold historically and are experiencing a renaissance following Kirkland Lake Gold's (now Agnico Eagle) remarkable success at the Fosterville Mine.
Several factors make Advance Metals an attractive proposition for investors:
- Consistent high-grade intercepts – Multiple holes returning gold grades above 20g/t demonstrate the project's potential
- Expanding mineralised zone – Recent results show continuity between high-grade intercepts
- Experienced technical team – Led by Dr. Adam McKinnon, who brings significant expertise in Victorian-style gold deposits
- Multiple exploration targets – The 13km trend provides numerous opportunities to discover additional high-grade zones
- Strategic location – Operating in a tier-one mining jurisdiction with excellent infrastructure
As drilling continues at Happy Valley over the coming months, there will be significant news flow potential from both the current target area and new prospects along strike. With each high-grade intersection, Advance Metals high-grade gold discovery moves closer to defining what could become a significant new gold discovery in Victoria's legendary goldfields.
Ready to Join the Next Victorian Gold Rush?
Don't miss your opportunity to be part of Advance Metals' expanding high-grade gold discovery at Happy Valley. With consistent exceptional results including 9.4 meters at 20.2g/t gold and a 13-kilometre mineralised trend still largely unexplored, AVM represents a compelling investment proposition in Australia's premier gold province. Visit Advance Metals' investor centre to learn more about this emerging opportunity in Victoria's legendary goldfields.
