Advance drilling program aims to extend high-grade Victorian gold

Advance Metals has restarted diamond drilling at its high-grade Myrtleford gold project in the Victorian goldfields, with the company’s first hole testing below a previous 47.9 grams per tonne (g/t) gold intercept.

The earlier maiden drilling hole hit 7.5 metres at 47.9g/t gold.

Advance Metals diamond drill rig has recommenced diamond drilling at its Happy Valley prospect at the company’s Myrtleford project in Victoria.

The company will now test about 20m down plunge below it, as well as northwest along strike from another hole that intercepted 11.5m at 160.4g/t gold.

Advance plans to put in at least six more diamond holes at its Happy Valley prospect in the hunt for plunge and strike extensions to the existing and often spectacular high-grade gold mineralisation.

The new program follows Advance’s very successful inaugural drilling earlier this year, which produced a swag of impressive gold hits from four holes at Happy Valley.

Results included 8.2m at 22.4g/t gold, with 3.2m at 54.7g/t gold; 2.9m at 6.7g/t gold; 7.5m at 47.9g/t gold, including 1.3m at 271.6g/t gold and 1.1m at 18.2g/t gold.

The Happy Valley phase of the new program will be followed immediately by the company’s maiden drilling campaign at its Sheard’s Reef and Queen of the Hills prospects, which will extend its drilling across a six-kilometre portion of the Happy Valley gold-mineralised trend.

The company is still waiting on the final assays from four holes put in during a previous program at its Twist Creek target. It expects to receive the results shortly.

In January, Advance entered a binding agreement with Serra Energy Metals to acquire an 80 per cent joint venture interest in the Myrtleford and Beaufort gold projects.

Advance is undertaking its Myrtleford drilling at the same time as it runs a maiden drilling program at its high-grade Yoquivo silver-gold project in Chihuahua, Mexico.

The company’s first diamond hole at Yoquivo began on May 5 and wound up on May 21.

Results obtained 10 days ago revealed that the hole intercepted high-grade silver-gold mineralisation in two distinct shallow zones, correlating with the company’s previously modelled multiple Pertenencia vein system.

Intercepts include 3.55m at 249g/t silver equivalent, comprising 157g/t silver and 1.2g/t gold from 115.4m, with 0.77m at 965g/t silver equivalent, comprising 600g/t silver and 4.8g/t gold from 115.4m.

A second intercept ran 4.42m at 446g/t silver equivalent, comprising 297g/t silver and 1.9g/t gold from 126.58m, with 1.67m at 676g/t silver, comprising 442g/t silver and 3g/t gold from 128.15m.

The company’s drilling to confirm the geology and extend known mineralisation at Yoquivo is expected to continue through to early July.

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