Advance Metals Limited has expanded the gold footprint at its Happy Valley Project in Victoria, with maiden regional drilling confirming new zones of mineralization and highlighting the potential for a system-scale gold opportunity.
Photograph of the diamond rig on site at the Happy Valleys deposit, set up to complete deep hole AMD023. Image Credit: Advance Metals Limited
Initial drilling at the Queen of the Hills Prospect, located 4.5 km east-southeast of the Happy Valley Mine, has returned encouraging gold intercepts, including:
- 4 m at 2.4 g/t Au from 102.2 m (incl. 0.8 m at 5.1 g/t Au and 0.6 m at 7.7 g/t Au)
- 3.2 m at 1.4 g/t Au from 280.6 m (incl. 0.8 m at 5.1 g/t Au)
The results mark the first drilling undertaken outside the main Happy Valley deposit and confirm mineralization across multiple prospects along the broader 13 km Happy Valley trend.
The Company has completed four diamond drill holes across Queen of the Hills and the nearby Sheards Prospect, with assays pending for two additional holes at Sheards. Ongoing drilling at the core Happy Valley deposit is targeting extensions of known high-grade mineralization at depth, with results pending from three deep holes.
The Company’s technical team has also identified significant upside from historical workings, particularly in shallow and southeastern zones that remain largely untested by modern drilling. These areas are now being actively targeted, with further drilling underway.
Recent results from the main Happy Valley deposit continue to demonstrate high-grade potential, including:
- 0.6 m at 66.7 g/t Au from 51.3 m
- 0.9 m at 1.5 g/t Au from 227.2 m
In parallel, Advance has commenced metallurgical test work aimed at assessing low-cost gravity recovery options, reflecting the coarse or nuggetty nature of the gold mineralization. Initial results from this program are expected next quarter.
Next Steps
Upcoming catalysts for the project include:
- Assay results from regional drilling at Sheards
- Results from deep drilling targeting extensions at Happy Valley
- Continued drilling focused on shallow high-grade zones
- Initial metallurgical test work outcomes supporting potential processing pathways
The Happy Valley Project forms part of the Myrtleford Project in the prolific Victorian Goldfields, an area known for historic high-grade gold production and increasing modern exploration success.