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Advance Metals Limited (ASX:AVM)

ALERT: Price-sensitive ASX Announcement for AVM
Current share price for AVM : $0.067 -0.108 (-61.71%)+
Announcement
Release
21 Jan 2026 8:25AM
Price at Release
$0.175
Full Release
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Summary
Advance Metals Limited (ASX:AVM) announced a new high-grade gold discovery to the east of the Happy Valley Deposit at the Myrtleford Project in Victoria, Australia. The discovery was made through a step-out drill hole AMD016, which intersected a new vein structure containing coarse visible gold less than 50m below the surface. This zone is characterized by 0.6 meters at 66.7g/t Au from 51.3m, marking it the shallowest high-grade gold mineralization discovered at Happy Valley to date. Structurally, this new zone aligns with the previously mined Porpunkah Reef. Drilling will continue to explore both new and known structures. The company aims to extend the known high-grade system while also targeting regional prospects.
Key Points
  • New high-grade gold zone discovered east of Happy Valley Deposit.
  • Step-out drill hole AMD016 intersected coarse visible gold.
  • The new zone is less than 50m below surface.
  • Assay results showed 0.6 meters at 66.7g/t Au.
  • The new zone mirrors the orientation of the historic Porpunkah Reef.
  • Continued drilling planned to test new and existing structures.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.