Advance Metals hits high-grade gold in rock-chip sampling at Augustus project
Advance Metals (ASX: AVM) has obtained significant gold results and identified almost 60 veins in a rock-chip sampling program as it progresses towards undertaking drilling at the historic Augustus project in Arizona.
The company has received assays of up to 116.7 grams per tonne gold from the program, which consisted of grab samples and channel sampling across and along the vein.
Advance was successful in assaying 48 elements plus gold in a program focused on the sampling of shallow dipping listric veins and stockworks throughout the project area.
Mineralised veins
The channel samples across the vein highlighted significant mineralised veins and stockworks starting at the surface.
The company identified thicknesses of 1 metre to 3m in mapping and sampling undertaken over a broad area.
More than 50 veins with a strike length of 6,583m have been mapped at the surface.
High-value targets
The company covered historically-producing areas and old workings across and through veins at numerous locations, with results providing high-value targets that have been methodically sampled to understand the geochemistry in previously inaccessible areas.
The gold assay results highlighted a potentially rich mineralised system starting at the surface and may be used as JORC maiden resource data points in the future once a proposed drilling program is completed.
The company also reviewed historic drilling data, which confirmed that gold and copper mineralised quartz veins and stockworks are as thick as 40 feet on the property.
Augustus history
The Augustus project is a high-potential copper-gold project that, until 2023, had never been fully consolidated.
Previous gold exploration at the Augustus project had been undertaken by majors such as Teck Cominco, Freeport-McMoRan and Asarco.
The recent gold assays have confirmed the high-grade results seen in these past sampling programs and will now be added to the formation of a 3D model of the project area.
The company is planning further drilling, metallurgical studies, trenching and sampling as part of its continued effort to develop the project.