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Goldman Visible gold observed in first diamond hole at Happy Valley
Advance Metals Limited (ASX:AVM) has reported visible gold mineralisation in its maiden diamond drilling program at the Myrtleford Project in Victoria’s Goldfields. The first hole, AMD001, has intersected at least three zones of sulphide-bearing quartz veining with visible gold, highlighting the potential for high-grade mineralisation.
Key Results from Hole AMD001:
- Three gold-bearing quartz zones identified, confirming the presence of mineralisation.
- The hole reached a depth of 212 metres, targeting an area 20 metres above a previous high-grade intersection in hole HVD003 (11.5m @ 160.4g/t Au).
- Gold zones appear geologically predictable and contiguous with previously recorded high-grade intervals.
- The drilling program is ongoing, with the next hole set to test down plunge of the HVD003 intersection.
- Additional mapping and rock chip sampling have commenced along the Happy Valley Trend, covering a two-kilometre strike zone.
Managing Director Dr Adam McKinnon commented:
The first visual results from AMD001 at Myrtleford are incredibly encouraging. Whilst we have to wait for the analytical results to fully confirm their significance, the presence of strong veining with visible gold in multiple downhole zones shows the enormous potential of the project.
Perhaps most importantly, these initial results appear to highlight the gold zones at Happy Valley are contiguous and somewhat geologically predictable. This bodes well for our ongoing drilling at the prospect, with additional holes expected to test the plunge and strike of the system in the coming weeks.
Our technical team have done an excellent job to date – moving at lightning speed to get this program underway within five weeks of announcing the acquisition. With assays now pending, further drilling in the high-grade corridor at Happy Valley underway, and follow-up drilling at Twist Creek planned, it is sure to be an exciting couple of months for AVM shareholders.
