Myrtleford Drilling Targets 11.5m at 160g/t Gold in Maiden Program

Strategic Move into a Historic Gold District

Advance Metals Limited has taken a decisive step forward in its exploration ambitions by approving an initial diamond drilling program at the Myrtleford Gold Project in Victoria’s prolific goldfields. This move follows the company’s recent binding agreement to acquire an 80% interest in the Myrtleford and Beaufort Gold Projects through a joint venture with Serra Energy Metals Corp.

The Myrtleford district is renowned for its rich history, hosting over 70 past-producing high-grade underground mines. Yet, much of this terrain remains underexplored by modern techniques, presenting a compelling opportunity for Advance Metals to leverage contemporary exploration methods to unlock value.

Targeting Exceptional High-Grade Zones

The approved drilling program will initially focus on two key target areas: Happy Valley and the Twist Creek Trend. At Happy Valley, the program aims to test mineralisation immediately above and below a remarkable previous drill hole (HVD003) that intersected 11.5 metres grading 160.4 grams per tonne (g/t) gold, including an extraordinary 0.6 metres at 2,430 g/t gold. These figures underscore the potential for high-grade continuity and structural controls that the drilling seeks to better understand.

Additional wider-spaced holes will explore the plunge and strike potential of the mineralised system, potentially revealing plunging repeats along the trend. At Twist Creek, planned drilling will follow up on encouraging shallow intersections such as 0.6 metres at 43.0 g/t gold, with preliminary mapping and rock chip sampling set to refine targets further.

Operational Readiness and Stakeholder Support

Advance Metals has secured all necessary consents from Resources Victoria and local stakeholders, ensuring the program can proceed with minimal environmental impact by utilising existing tracks and drill sites. The company is finalising arrangements with diamond drilling contractors and has engaged experienced field personnel to support the operation. A nearby facility has also been secured for efficient core logging and processing, signalling a well-prepared campaign.

Management’s Confidence and Market Implications

Managing Director Dr Adam Mckinnon expressed strong confidence in the project’s potential, highlighting the impressive scale of gold trends and the density of historic high-grade workings. He emphasised the opportunity to create significant value through targeted exploration, describing the upcoming drilling as a potentially exciting start to the year for shareholders.

This program represents a critical test of the Myrtleford Project’s capacity to deliver a regionally significant discovery. Success here could materially enhance Advance Metals’ profile and valuation, particularly given the ultra-high-grade nature of the known mineralisation.

Looking Ahead

As drilling commences, the market will be watching closely for assay results that confirm and expand on the historic high-grade intersections. The outcomes will not only inform the next phases of exploration but also shape the strategic direction of Advance Metals’ Victorian gold portfolio.