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Advance Metals (ASX:AVM) has today reported gold mineralisation at Queen of the Hills off the back of maiden regional drilling, and will now start metallurgical testing at the Happy Valley Gold Trend as it looks to again grow the project’s footprint beyond its three-kilometre-long mineralised corridor.
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This successful regional drilling programme represents Advance’s first systematic test of prospects beyond the ultra-high grade Happy Valley deposit.
The March CY26 identification of gold mineralisation at Queen of Hills demonstrates the continuity of the mineralising system across the 13-kilometre trend and “validates the systematic approach to regional exploration.”
At Queen of the Hills, drilling intersected significant quartz veining. Key intercepts include AMD017 at four metres at 2.4 grams per tonne gold from 102.2 metres, including 0.8 metres at 5.1g/t Au and 0.6m at 7.7g/t Au, and AMD018 with 3.2m at 1.4g/t Au from 280.6m, including 0.6m at 5.8g/t Au.
At the Sheards Reef prospect, some 1.5km west-northwest of Happy Valley, two diamond holes have been completed with results currently pending.
The company rolled out four diamond holes totalling up to 1,288 metres across the Queen of the Hills and Sheards prospects. Another half-dozen completed holes from across the trend still have assay results pending, too.
“The company’s technical team is encouraged by the gold mineralisation intersected in both holes drilled at Queen of the Hill, with ongoing modelling aimed at defining the potential for additional high-grade zones in the immediate area,” the Australian explorer wrote Tuesday while updating shareholders.
Beyond waiting for these diamond drilling results, Advance has also started an early metallurgical test work program at Happy Valley, wielding gold-bearing mineralisation from diamond core collected mid-CY25.
Given the coarse or nuggetty nature of the gold, the program is focused on evaluating recoveries through simple, low-cost gravity separation techniques,” Advance wrote.
Those initial testing results are expected early next quarter.
AVM shares are up +7.9% today, to 8.2c/each.
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