Advance Metals (ASX: AVM) has commenced planning and reconnaissance for its initial exploration programmes at the high-grade Myrtleford Gold Project in Victoria,
The company recently entered into a binding agreement with Serra Energy Metals Corp. to acquire an 80% interest via a joint venture on the Myrtleford and Beaufort Gold Projects.
The company has submitted a low impact exploration notification to Resources Victoria, with consent expected from the relevant stakeholders shortly.
This will allow non-ground disturbing exploration at the project including confirmatory/ extensional drilling from existing prospect sites
The company’s maiden drilling programme is expected to commence at the Happy Valley Trend, where previous work by Serra Energy Metals returned intersections including 11.5 metres at 160.4g/t Au and 5.9 metres at 66.2g/t Au
To assist with final programme designs, Advance personnel have been on site to review the geology of previous high grade drill core and verify logistics for drilling
A review of work conducted by Serra has also identified a suite of previously unreported rock chips samples collected during regional reconnaissance mapping at Myrtleford, with multiple high grade gold assays returned from four key areas.
Further mapping and rock chip sampling is also set to commence at the project shortly, with an initial focus to on the Happy Valley and Twist Creek Trends
“I am exceptionally excited to see Advance progressing quickly towards our maiden drilling programme at the Myrtleford Project,” Managing Director, Dr Adam McKinnon, said.
“Previous drilling on the project has already demonstrated the region has the potential to produce ultra-high grade gold intersections. As the rock chip sample data shows, the project hosts several multi-kilometre scale gold trends littered with high grade historic hard-rock mines.
“Coupled with the fact that most of these areas have had little or no modern exploration, the upcoming exploration program presents an unparalleled opportunity to make a major, high grade and high-value discovery”.