Advance Metals hits ultra-high-grade gold at Myrtleford’s Happy Valley prospect
Advance Metals (ASX: AVM) has sighted numerous instances of visible gold in its maiden drilling program at the Myrtleford project in the rich Victorian goldfields region.
Assays from drilling at Myrtleford, where Advance is seeking to acquire an 80% interest through a binding agreement with Serra Energy Metals, have included “spectacular” hits of up to 446 grams per tonne gold.
The latest success follows the release in late March of other high-grade results from the company’s first hole at the prospect, which returned 8.2 metres at 22.4 grams per tonne gold including 3.2m at 54.7g/t.
Highlight hole
Highlight diamond hole AMD003 returned an intersection of 7.5m at 47.9g/t gold, along with multiple zones of high-grade mineralisation and peak grades up to 446g/t gold.
Notably, the hole has extended the Myrtleford system to the north-west and presents exceptional follow-up potential up and down dip.
The company has also received promising results from hole AMD002 and is awaiting assay returns from the recently completed diamond hole AMD004, which intersected visible gold mineralisation at various stages down hole.
‘Ultra-high-grade zone’
“Once again we are seeing fantastic results returned from the Happy Valley prospect at Myrtleford,” managing director Adam McKinnon said.
“In combination with previous drilling and the recent result from AMD001, we have now defined a coherent ultra-high-grade zone with potential extensions in multiple directions.”
“Hole AMD003, in particular, is now one of the best holes ever drilled at Myrtleford with three separate high-grade zones and individual gold assays up to 446g/t.”
“Our technical team is continuing to evaluate the geometry and controls on mineralisation at the prospect and regional scales, with drilling now moving north to the Twist Creek area to test some of this enormous regional potential.”
Immense potential
Mr McKinnon said results to date highlight the immense potential of the broader 13km-long Happy Valley trend, with the company having tested less than 1% of the total strike so far.
Advance recently commenced drilling in the nearby Twist Creek area will test along strike from previous drill results up to 43g/t gold at the Scandinavia prospect and 40g/t at the Victoria prospect.
The company is close to completing a program of mapping and rock chip sampling across multiple targets within the Myrtleford project.
It intends to fully assess the targets once it has received the remaining assays for hole AMD004 and results from the rock chip sampling program.