Happy Valley Drill Hole AMD009 Yields 9.4m at 20.2g/t Gold

Strong Continuity in High-Grade Gold Mineralisation

Advance Metals Limited (ASX, AVM) has delivered promising early results from its recommenced diamond drilling program at the Happy Valley Prospect, part of the Myrtleford Project in Victoria’s historic goldfields. The standout intercept, hole AMD009, returned a remarkable 9.4 metres grading 20.2 grams per tonne (g/t) gold, including a higher-grade segment of 3.2 metres at 44.2 g/t. These results build on a foundation of previously reported high-grade intersections, confirming the continuity of a rich gold zone in the central portion of the deposit.

The mineralisation is hosted within laminated and massive quartz veins, often accompanied by minor sulphides, with gold grades locally reaching up to 83.5 g/t. Notably, AMD009’s mineralised intervals are contiguous with a nearby hole, AMD003, which intersected 7.5 metres at 47.9 g/t gold approximately 25 metres up-dip, underscoring the robustness of the system.

Ongoing Drilling and Strategic Exploration Plans

Drilling continues at Happy Valley with assays awaited for holes AMD010 and AMD011A, which target extensions up-dip and along strike from the high-grade zones. The company’s strategy includes testing both the shallowest and deepest parts of the system to date, aiming to delineate the full vertical and lateral extent of mineralisation. This approach reflects a methodical effort to expand the resource footprint and better understand the deposit’s geometry.

Beyond Happy Valley, Advance Metals is eyeing the broader 13-kilometre Myrtleford gold trend, with plans to drill at new prospects along strike to the northwest and southeast. This regional focus could unlock additional high-grade zones, potentially elevating the project’s overall value and attractiveness.

Geological Context and Historical Significance

The Myrtleford Project sits within a geologically complex area shaped by Devonian magmatism and tectonic events associated with the Lachlan Orogeny. Gold mineralisation is structurally controlled, hosted primarily in quartz veins within metamorphosed sandstone units. The region’s history of gold mining and recent exploration success positions Advance Metals well to capitalize on this underexplored terrain.

Managing Director Dr Adam McKinnon highlighted the encouraging nature of the results, noting the exceptional grades and the apparent continuity of mineralisation. He emphasized the company’s confidence in expanding the system and the potential for further discoveries along the trend.

Looking Ahead

As assays from ongoing drilling come in, the market will be watching closely to see if the high-grade zones at Happy Valley can be extended further. The combination of consistent high grades and a strategic exploration plan suggests that Advance Metals is well-positioned to advance the Myrtleford Project toward resource definition and, ultimately, development.