Advance Metals has secured approvals to expand diamond drilling at its Myrtleford Project, targeting extensions of high-grade gold mineralisation along the Happy Valley Trend. The program includes new holes at multiple prospects and follows impressive assay results from earlier drilling.
- Approvals received for expanded drilling at Myrtleford's Happy Valley Trend
- At least six new diamond holes planned targeting high-grade gold extensions
- Maiden drilling to commence at Sheard’s Reef and Queen of the Hills prospects
- Site preparation underway with drilling expected to start within 7-10 days
- Final assays pending from previous drilling, results expected mid-June
Approvals Unlock Expanded Exploration
Advance Metals Limited has taken a significant step forward at its high-grade Myrtleford Project in Victoria, Australia, by securing the necessary approvals to recommence an expanded diamond drilling program. This development follows a series of promising assay results from the initial drilling campaign earlier this year, which revealed exceptionally high gold grades along the Happy Valley Trend.
The company’s board has greenlit a follow-up program comprising at least six additional diamond holes focused on the Happy Valley Prospect. These new holes aim to extend the known zones of high-grade gold mineralisation both up and down plunge as well as along strike, potentially expanding the resource footprint in this prolific goldfield.
Targeting Multiple Prospects Along a Six-Kilometre Trend
Beyond the Happy Valley Prospect, Advance Metals plans maiden drilling at two other promising prospects – Sheard’s Reef and Queen of the Hills. These sites lie along a six-kilometre stretch of the broader Happy Valley Trend, with Sheard’s Reef located approximately 1.5 kilometres west-northwest and Queen of the Hills about 4.5 kilometres east-southeast of the current drilling area. The inclusion of these prospects signals the company’s intent to systematically explore and potentially delineate multiple high-grade gold zones within the region.
Site preparation is already underway, with the drilling contractor expected to mobilise within the next 7 to 10 days. This rapid progression underscores the company’s commitment to maintaining momentum following the encouraging results from the initial drilling phase.
Building on Exceptional Early Results
The impetus for this expanded program stems from the outstanding grades returned in the first four holes drilled at Happy Valley. Highlights include 8.2 metres at 22.4 grams per tonne gold, including a high-grade interval of 3.2 metres at 54.7 grams per tonne, and an extraordinary 7.5 metres at 47.9 grams per tonne gold, featuring a 1.3-metre section grading 271.6 grams per tonne. These results have not only confirmed the presence of high-grade mineralisation but also revealed the potential for significant extensions along the trend.
Final assay results from four additional holes drilled in the Twist Creek area remain pending, with expectations for mid-June. These forthcoming results will be critical in refining the understanding of the mineralisation and guiding subsequent drilling efforts.
Concurrent Exploration in Mexico
Advance Metals is simultaneously advancing its maiden drilling program at the Yoquivo Silver-Gold Project in Chihuahua, Mexico. This parallel exploration effort highlights the company’s diversified approach to growth, balancing its Australian gold assets with promising silver-gold opportunities abroad.
Overall, the approvals and expanded drilling program at Myrtleford represent a pivotal moment for Advance Metals as it seeks to build on its early successes and unlock the full potential of the Happy Valley Trend.
Bottom Line?
As drilling ramps up, all eyes will be on the pending assays to see if Myrtleford’s high-grade promise translates into a substantial resource upgrade.
Questions in the middle?
- Will the pending assay results confirm and extend the high-grade zones at Myrtleford?
- How might the maiden drilling at Sheard’s Reef and Queen of the Hills impact the overall resource potential?
- What are the implications of concurrent drilling activities in Mexico for Advance Metals’ capital allocation?