Advance to follow up high-grade Vic gold hits with 10 drill holes
Advance Metals has produced a series of impressive gold intersections from an eight-hole drilling program for 1665.4 metres at its Happy Valley and Twist Creek prospects, which is part of the wider 418-square-kilometre Myrtleford project in the northeastern Victorian Goldfields.
The company has now given the thumbs-up to an expanded 10-hole campaign to further test Happy Valley and two additional, nearby prospective zones.
The first four holes of the completed program targeted the company's Happy Valley prospect and hit gold mineralisation in every hole, including 8.2m going 22.4 grams per tonne (g/t) in hole one, 2.9m at 6.7g/t from hole two and a significant interval of 7.5m running at 47.9g/t in hole three.
The company's fourth diamond drill hole returned 6.1m at 3.5g/t gold from 245m, including a high-grade 1.1m slice at 18.2g/t from 250m.
The results from the first four holes follow a previous extraordinary hit of 11.5m at 160.4g/t by a former owner, which included a monster 2430g/t gold hit across 0.6m.
Assays are pending for holes five to eight from drilling at Twist Creek, 45 kilometres west-northwest of Happy Valley. Holes five and six were drilled at Advance's Scandinavia prospect and holes seven and eight were hammered into the Victoria prospect area. The company expects to receive these results in June.
The additional 10-hole program will see six diamond holes plunged into Advance's Happy Valley ground, targeting extensions to the high-grade mineralisation up and down plunge and along strike. The company will focus on the area drilled by hole three of 7.5m at 47.9g/t.
Two maiden diamond holes will test the nearby Sheard's Reef prospect, 1.5km west-northwest of Happy Valley. The remaining two holes will target high-grade gold 4.5km to the east-southeast at Queen of the Hills, aiming to extend drilling across a 6km section of the Happy Valley trend within the Myrtleford project.
Management says less than 1 per cent of the strike has been tested by drilling to date. The area hosts many historic gold mines the company believes were worked to only shallow depths, providing the project with substantial exploration upside.
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