- Advance Metals (AVM) confirms copper, silver, gold, molybdenum, and tungsten in rock chip samples taken from its Garnet Creek project in Idaho
- The company collected 90 rock samples from a number of sites within the project area
- Analyses revealed peak grades of 21.24 per cent copper, 345 grams per tonne (g/t) silver, 8.4 g/t gold, 389 parts per million tungsten, and 10.7 per cent molybdenum
- The company is now preparing for a drilling program to target the minerals at depth
- AVM shares are up 5 per cent and trading at 1.1 cents at 1:05 pm AEDT
Advance Metals (AVM) has confirmed copper, silver, gold, molybdenum, and tungsten in rock chips at its Garnet Creek project in Idaho.
The company collected 90 rock samples from a number of sites within the project area, with results indicating Garnet Creek had the potential to host several highly sought-after minerals.
“The review of the rock chip samples demonstrates that the project has the potential to be a polymetallic deposit with high-grade copper as the predominant metal,” AVM COO Dom Hill said.
Copper values reached as high as 21.24 per cent, with historical sampling also reporting assayed results of as high as 21 per cent copper.
Select rock assays in the Tussel Ridge target also identified high-grade copper, silver and gold.
Silver values assayed up to 345 grammes per tonne (g/t). As for gold, three samples assayed higher than 1.5 g/t gold, with the highest assaying at 8.4 g/t gold.
Tungsten, which is on the US critical minerals list, was also identified at Garnet, with anomalous values of up to 389 parts per million. The company believes tungsten may offer a future upside to the project.
Molybdenum was present in several samples at Garnet Creek, with values ranging up to as high as 10.7 per cent in select samples.
The company said it would continue to target tungsten and molybdenum in conjunction with copper, silver, and gold.
Advance Metals has developed a drilling program to target all these minerals at depth, which is currently under review.
“The company is excited about 2023 and the body of work being undertaken by the team,” Mr Hill said.
The company is also reviewing its exploration plans, sorting finances, and engaging third-party suppliers for the upcoming field season.
AVM shares were up 5 per cent and trading at 1.1 cents at 1:05 pm AEDT.