Visible Gold Found 140m Deeper at Happy Valley, High-Grade Zone Now 500m+ Deep
Advance Metals has intersected visible gold at a record depth of 465 metres at its Happy Valley deposit, suggesting a high-grade gold system extending over 500 metres vertically and open in all directions. Assay results are pending, with further drilling fully funded by a recent $13 million capital raise.
- Visible gold intersected 140m deeper than previous drilling at Happy Valley
- High-grade gold system potentially extends over 500m vertically
- Assay results expected in late November to early December 2025
- Recent $13 million placement funds ongoing and expanded exploration
- Drilling ongoing with plans to test additional nearby prospects
A New Depth Milestone at Happy Valley
Advance Metals Limited (ASX – AVM) has announced a significant breakthrough in its exploration program at the Happy Valley deposit, part of the Myrtleford Project in Victoria’s prolific Goldfields. The company’s latest diamond drill hole, AMD014A, intersected visible gold at approximately 465 metres down hole; a full 140 metres deeper than any previous drilling in the area. This discovery highlights the potential for a vertically extensive, high-grade gold system that remains open in all directions.
Implications of Visible Gold and Depth Continuity
Visible gold in drill core is a compelling visual indicator of mineralisation, though Advance Metals cautions that laboratory assays are required to confirm the grade and true width of the mineralised zones. The presence of visible gold grains up to 2.5mm in size within quartz stockwork veins, associated with sulphides, suggests robust continuity of the mineral system at depth. If assays confirm high grades, this could position Happy Valley as a major regional discovery comparable to other notable Victorian Goldfields deposits.
Funding and Forward Exploration Plans
The company’s confidence to drill boldly more than 140 metres deeper was underpinned by earlier high-grade results, including intercepts exceeding 50 grams per tonne gold. Advance Metals recently completed a $13 million placement to global institutional investors, providing the financial firepower to accelerate exploration. Plans are underway to expand drilling with additional rigs and to test adjacent targets such as the Queen of the Hills Prospect, with drilling expected to commence shortly.
Context Within the Victorian Goldfields
Happy Valley sits within a geologically complex and historically productive gold region. The deposit is hosted in structurally controlled quartz veins within Ordovician sandstone, with mineralisation influenced by multiple deformation events. The discovery of visible gold at such depth not only extends the known mineralised envelope but also reinforces the potential for a large-scale, vertically extensive system that could support future resource growth.
Awaiting Assay Confirmation
While the visual evidence is promising, the market awaits the laboratory assay results expected in late November to early December 2025. These results will be critical to quantifying the grade and economic potential of the newly intersected mineralisation. Advance Metals’ Managing Director, Dr Adam McKinnon, emphasised the significance of this step-down drilling and the company’s excitement about the project’s scale and future prospects.
Bottom Line?
As assays approach, all eyes will be on Happy Valley to see if this deep visible gold translates into a game-changing resource expansion.
Questions in the middle?
- What grades will the pending assays confirm for the visible gold intersections?
- How will the new deep mineralisation impact the overall resource estimate and mine planning?
- What are the timelines and scale for follow-up drilling across the broader Myrtleford Project?
