Advance Metals Identifies Further High-Grade Opportunities at Myrtleford’s Happy Valley Prospect

Advance Metals (ASX: AVM) has confirmed visible gold and received upgraded results from new tests it conducted on assays from the Happy Valley prospect at the company’s Myrtleford project in Victoria.

The most impressive returns came in a program of screen fire gold re-analysis of 55 individual samples from the first five holes of Advance’s previous drilling at Happy Valley.

The two highest-grade intervals from that earler program saw increases of 29% to 8.2 metres at 28.8 grams per tonne gold from 186m including 3.4m at 68.2m g/t from 186m, and 15% to 7.5m at 55g/t from 178m including 1.3m at 305.8 g/t from 179.6m.

Down-Plunge Drilling

Drilling is continuing at Happy Valley, where the latest hole is set to be the deepest Advance has drilled so far, with the potential to extend mineralisation as deep as 80m down-plunge.

The company has now received assay results for a further four shallower diamond holes as well, all of which intersected zones of gold mineralisation.

Best results from these holes were 0.2m at 14.3g/t gold from 131.4m, and 1.4 metres at 7.6g/t gold from 164.6m including 0.6m at 16.9g/t gold from 165.4m.

Advance believes the revised results further improve the tenor of the ultra-high grade zone it recently defined in the central portion of Happy Valley.

Expanding Footprint

The company is targeting an expansion of the current footprint at Happy Valley, which represents only a small portion of a larger 13km trend.

Advance recommenced diamond drilling at Happy Valley in late June after acquiring an 80% interest in the Myrtleford and Beaufort gold projects from Serra Energy Metals earlier this year.

Advance is also preparing to begin maiden programs at the previously undrilled Queen of the Hills and Sheard’s Reef prospects to the northwest and southeast.

Like Happy Valley, both host high grade historic gold workings with strong gold-in-rock-chip samples at surface.