The company says its step-down confirms the system’s legs and justifies the extra steel on site, bankrolled by a recent $13 million placement, leaving the drill plan fully covered.
Advance Metals managing director Dr Adam McKinnon said: “Mobilising the second drill rig at Happy Valley will allow us to rapidly test the down-plunge and along strike potential opened by the recent visible gold intercept at Happy Valley. While assays are still pending, the scale we’re starting to see justifies extending the program and commencing maiden drilling at Ǫueen of the Hills in parallel with the Happy Valley drilling.”
Happy Valley sits in the southeastern corner of the 418-square-kilometre Myrtleford tenure, inside the Lachlan Fold Belt that has coughed up some of Australia’s biggest gold camps.
The broader trend hosts a string of old shafts and adits, with Queen of the Hills mirroring the high-grade surface expressions seen at surrounding exploited Victorian deposits.
Advance is also actively exploring its emerging Mexican silver portfolio across the Pacific.
Fresh resampling of untested core at its Yoquivo deposit has now thrown up hits like 2.05m at 480 grams per tonne (g/t) silver equivalent from previously ignored core.
The company says resampling and drilling is proving that its Mexican deposits have plenty of legs as it seeks to more than double the current foreign estimate of 100 million ounces silver-equivalent. The company has flagged a stretch target to double that 100m ounces into a JORC compliant 200m ounces over the next 18 months with silver and gold prices both sitting near all-time highs after a historic 2025 run.
The Mexican project trio of Yoquivo, Guadalupe y Calvo and Gavilanes equally deserve the ire of the drill bit and Advance is busy firing on all cylinders on opposite sides of the globe with drill programs to be underway in both countries by next week.
With the rods soon to be spinning in both Victoria and Mexico and the lab queue growing, Advance is set for a steady stream of results to flow from now into the new year.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
