Advance hits big gold numbers in Victorian drill campaign

The third hole was placed about 15 but west of the first perforated hole and intersected a strong gold visible to 159.5 m, 180 me 180.9 m background, extending the length of the system strike to the west.

The perforation has affected significant mineralized areas with a 1.6 m quartz vein which houses more gold grains at a depth of 159.5 m. The most important visible gold was evident at a depth of 180 me 180.9 m.

A fourth hole is perforated now about 50 m of dive and slightly along the attack to the south -est from the two hole to hit the continuity of the mineralized system.

The CEO of Advance Metals Dr Adam McKinnon said: “These initial results of the dosage are exactly what we hoped, demonstrating the presence of an exceptional mineralization of gold through significant widths to Myrtleford. In combination with the previous perforation, these results now define a high quality coherent area to the Happy Valley project with potential downhill extensions and along the strike.”

The Company’s Diamond Maiden perforation program began in February on the 418 square kilometers site focused on his perspective of Happy Valley in the southern -east of the project.

The company expects to receive tests from its second and third hole by mid -April.

In Myrtleford, Advance is on a 13 km long gold mineralization trend known as Happy Valley Trend.

Management states that less than 1 % of the 13 km long strike has been tested with perforation to date and believes that the area houses that many historical gold mines have worked only for shallow depth, providing a substantial exploration to the project.

Advance believes that many of the mines are on mineralized structures that extend for kilometers of length, which have not been exposed to modern exploration methods.

The overall project has a 45 km strike length through historical mechanisms and old gold mines, including the trend of Happy Valley, the Trendo Twist Creek which extends for 7 km and the trend of the Magpie running for 16 km. It is located inside the renowned lachlan fold belt, which is responsible for some of the largest gold deposits in the country.

Twist Creek is located at the northern end of the project and will be subjected to shallow perforations when the perforation program of the company in Happy Valley will be completed. It has multiple extracted structures which previously had an average of 31 G/T gold.

Advance recently signed a binding agreement with Serra Energy Metals Corporation to acquire 80 % of Gold Myrtleford and Beaufort projects through a joint venture.

Advance will acquire 80 % of the actions completely paid in E79 Resources, the legal owner of the clothes that includes the two Victorian projects.

The company will acquire its participation in E79 through an initial number of shares of the company, followed by three payments on stage made by issuing further shares, as well as a 1 % net royalty from the gold production.

The highly prospective Beaufort project is found in Victoria’s Southwest, 145 km west of Melbourne. The region has produced more than one million ounces of alluvial gold and presents a significant opportunity to discover large -scale gold deposits, given its proximity to the world -level Goldfield Bendigo and the renowned underground gold mine in Fosterville which has produced more than 300,000 ounces of high -level gold in 2023.

Myrtleford and Beaufort projects are located inside the historic Victorian golden fields, known for having produced over 80 million golden ounces.

The company is now committed to designing a follow-up perforation program for Happy Valley and will perfect the perforation objectives when all the remaining tests are received.

In a hyper gold environment where the precious yellow metal touched the maximums of all time, Advance seems to have a tiger near Myrtleford tail. They say that the degree is king and if this is true, then Myrtleford could prove real with some out -of -scale votes in fairly decent widths.

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