Join our daily newsletter At The Bell to receive exclusive market insights
- Advance Metals (AVM) confirms high-grade copper potential through exploration at its Augustus polymetallic project in Arizona, USA
- XRF sampling results found copper grades of up to 20.47 per cent
- One zone was mapped for more than 274 metres
- AVM plans to continue drone-supported ground gravity and aeromagnetic surveys at the site
- Shares are up 16.67 per cent, trading at 0.7 cents at 2:11 pm AEST
Advance Metals (AVM) has confirmed high-grade copper potential through exploration at its Augustus polymetallic project in Arizona, USA.
Company geologists mapped and sampled several copper mineralisation zones with XRF sampling results finding copper grades of up to 20.47 per cent. One zone was mapped for more than 274 metres.
Copper oxide and sulphide mineralisation were also discovered within the claim’s boundaries, including malachite and chrysocolla.
“Our team is integrating technology, newly collected data and historic data to best identify and pursue promising zones within the claims area,” AVM CEO Frank Bennett said.
“Preliminary analysis of this information indicates strong exploration potential across the project.”
Thirty rock chip samples were submitted for geochemical analysis to the Paragon Labs in Nevada. The copper zone was found nearby past adits and historic mining.
The company plans to continue drone-supported ground gravity and aeromagnetic surveys at the site.
AVM was up 16.67 per cent, trading at 0.7 cents at 2:11 pm AEST.
