Advance Metals Limited (ASX:AVM) has released final drilling results from its Myrtleford project in Victoria, identifying new high-grade gold zones. The latest data from the Happy Valley deposit includes a standout intercept of 1.8 metres at 15.2 grams per tonne of gold, which incorporates a narrow, ultra-high-grade section of 0.2 metres at 131.5 g/t Au. This result aligns with previous exploration successes at the site, further confirming the presence of high-grade mineralisation at depth.

The receipt of these assays has allowed the company to finalize a comprehensive 3D geological model. This technical upgrade maps three primary gold-bearing quartz veins extending to at least 500 metres below the surface. By defining the intersection points where these veins create gold-rich shoots, the company expects to significantly improve its accuracy for future drill targeting across the broader project area.

"The final assays from Happy Valley are encouraging, but the key outcome is the improved geological model now in place. It gives us a much clearer understanding of the controls on high grade gold mineralisation and provides a stronger framework for future targeting."

— Dr. Adam McKinnon, Managing Director and CEO

These technical advancements arrive as the company consolidates its Victorian presence. Having moved to full ownership of its Victorian gold assets in May 2026, Advance Metals is now leveraging this unified portfolio to streamline its exploration strategy. The current geological model will be applied to test untested historical workings, specifically along the 16-kilometre-long Magpie-Barwidgee trend, where regional mapping and sampling are currently underway.

Beyond the Myrtleford site, the company is actively advancing its Beaufort Gold Project. An initial program consisting of 46 rock chip samples was recently completed across locations aligned with regional fault structures. Assay results for these samples remain pending, and upon their receipt, the company intends to evaluate the data to delineate high-priority targets for potential future drilling. By integrating these regional exploration efforts with the refined 3D model, the company aims to systematically advance its understanding of the district’s gold potential while maintaining its focus on high-grade opportunities.

Read the full announcement: Myrtleford and Beaufort Gold Exploration Update