High-Grade Gold Results Propel Advance Metals' Exploration Success at Myrtleford
Advance Metals Limited has unveiled impressive new gold assay results from its maiden exploration program at the Myrtleford Project in Victoria's historic goldfields, continuing a streak of high-grade discoveries that confirm the project's significant potential.
Fourth Diamond Drill Hole Extends High-Grade Zone at Happy Valley
The final results from Advance's initial four-hole diamond drilling program at the Happy Valley Prospect have maintained the company's perfect strike rate, with every hole intersecting zones of high-grade gold mineralisation.
The latest hole, AMD004, returned 6.1 meters at 3.5g/t gold including 1.1 meters at 18.2g/t gold from 245 meters depth. This follows previously reported exceptional results from the first three holes:
- AMD001: 8.2 meters at 22.4g/t gold including 3.2 meters at 54.7g/t gold
- AMD002: 2.9 meters at 6.7g/t gold
- AMD003: 7.5 meters at 47.9g/t gold including 1.3 meters at 271.6g/t gold
Hole AMD004 was strategically positioned slightly down-dip and southeast along strike of AMD002, confirming the extension of high-grade mineralisation while demonstrating the natural variability in width and grade typical of high-grade gold systems.
Rock Chip Sampling Reveals Multiple High-Grade Targets Across Project Area
Beyond the drilling success at Happy Valley, Advance has identified several promising new targets through an extensive rock chip sampling program covering three key areas of the Myrtleford Project.
| Area | Top Results | Location | Status |
|---|---|---|---|
| Happy Valley Trend | 42.5g/t, 26.2g/t & 23.2g/t | Sheards Reef (1,500m from current drilling) | Untested by drilling |
| Barwidgee Area | 24.8g/t & 21.9g/t | Quatre Bas & Happy Go Lucky Prospects | Untested by drilling |
| Twist Creek Area | 66.7g/t & 24.3g/t | Victoria Prospect | Current drilling underway |
| 39.1g/t & 23.7g/t | Danish Prospect | Untested by drilling |
These impressive surface samples highlight the broader potential of the Myrtleford Project, with multiple high-grade targets now identified across the property.
Understanding Structural Controls in Victorian Gold Systems
Victorian goldfields are characterised by structurally controlled high-grade gold systems, where gold is primarily hosted in quartz veins associated with fault and shear zones. The variable widths and grades seen in Advance's drilling results are typical of these systems, where extremely high grades can occur in specific structural positions.
The gold mineralisation within the Myrtleford Project occurs predominantly within the Ordovician Pinnak Sandstone of the Adaminaby Group. This turbiditic sequence has undergone metamorphism and multiple deformation events, creating an environment conducive to gold mineralisation. The primary gold-bearing structures are shear- or fault-controlled quartz veins, including fissure, saddle, and spurry reefs, which range from less than 1 metre to 12 metres in width.
These quartz veins 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. Stockwork-style mineralisation, involving interconnected quartz veins, is also present but typically has lower gold grades.
The systematic approach to mapping and sampling being undertaken by Advance is helping define the structural controls on gold mineralisation at Myrtleford, creating a pipeline of drill-ready targets beyond the initial Happy Valley success.
Fully Funded to Accelerate Exploration Efforts
Advance recently completed a strategic placement to institutional and sophisticated investors raising $2.55 million, providing the financial resources to expand its exploration program. The company is now advancing on multiple fronts:
- Drilling continues in the Twist Creek area with results pending for holes AMD005 and AMD006, and drilling of AMD007 and AMD008 currently underway
- Planning for follow-up drilling at Happy Valley to extend the high-grade mineralisation along strike and down dip
- Preparations for initial drill testing of additional targets like Sheards Reef, pending approvals
- Ongoing regional exploration to identify and refine additional targets
"Our maiden drilling program at Myrtleford has been incredibly successful, providing significant confidence in the immense upside potential at Happy Valley and beyond. It is good to see all four of our initial holes producing zones of high to very high grade gold mineralisation, with the typical variability in width and grade tenor that we expect from these types of deposits," said Managing Director Adam McKinnon.
Why Investors Should Watch Advance Metals
Advance's Myrtleford Project represents an exciting investment opportunity for several compelling reasons:
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Proven High-Grade Potential: All four initial drill holes have intersected significant gold mineralisation, including exceptional grades up to 271.6g/t
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Multiple Untested Targets: Rock chip sampling has identified numerous high-grade targets across the property that remain completely untested by drilling
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Strategic Position in Victoria's Goldfields: The project is located in a prolific gold region with a history of multi-million-ounce discoveries
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Fully Funded Exploration: Following a recent capital raising, the company is well-positioned to accelerate its exploration program across multiple targets
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Experienced Management: The company is led by Dr. Adam McKinnon, a qualified geologist with expertise in the style of mineralisation being targeted
"With our recent placement to institutional and sophisticated investors raising $2.55M, we find ourselves in a fantastic position to aggressively expand the high-grade mineralisation at Happy Valley and also turn our attention to drilling some of the other regional targets beginning to emerge," added McKinnon.
With drilling continuing and multiple assay results pending, investors can expect a steady flow of news as Advance Metals works to unlock the full potential of its Victorian goldfields project.
Ready to Capitalise on Victoria's High-Grade Gold Potential?
Discover why Advance Metals' impressive drill results at Myrtleford might represent a compelling investment opportunity in Australia's historic Victorian goldfields. With consistent high-grade gold intersections, multiple untested targets, and a well-funded exploration program, the company is strategically positioned for growth. Visit Advance Metals' investor page for comprehensive information about their gold projects and to stay updated on the latest drilling results as they continue to unlock the project's full potential.
