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Advance Metals (ASX:AVM) has found gold grading up to 93.2 grams per tonne in its maiden diamond drilling program at the Myrtleford project, which included “some of the highest-grade holes drilled in the territory.”
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Final assays from the first diamond drill hole (AMD001) at the Happy Valley prospect have been received, showing multiple downhole zones, and results such as 0.9 metres at 19.0g/t Au from 157.8m; 2.15 metres at 4.0g/t Au from 177.8m; and 8.2 metres at 22.4g/t Au from 186.0m incl. 3.4m at 52.7g/t Au from 186m.
Within this was one individual assay of 93.2 grants per tonne of gold.
The AMD001 hole passes approximately 20 metres up-dip from another diamond hole that was drilled previously (HVD003: With dimensions of 11.5m at 160.4g/t Au). The latest assays indicate the presence of an ultra-high-grade zone with potential extensions down-plunge and along strike.
Assays from two other holes (AMD002 and AMD003) are pending; both previously reported containing visible gold in several down-hole zones, similar to AMD001.
“These initial assay results are exactly what we were hoping for, demonstrating the presence of exceptional gold mineralisation across significant widths at Myrtleford,” managing director Adam McKinnon said.
“In combination with previous drilling, results now define a coherent ultra-high grade zone at the Happy Valley Project with potential extensions down-plunge and along strike.”
Only 1% of strike at the Happy Valley trend – the focus of this drilling – have so far been tested, and these results underpin its enormous potential.
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Mr McKinnon continued: “With subsequent holes, AMD002 and AMD003, also showing similar zones with visible gold mineralisation, there is every indication this high-grade corridor is set to expand further.”
Advance has been trading at 4.8 cents on Monday.
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