Mining

Advance Metals unveils gold discoveries at Augustus Project

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Advance Metals (ASX:AVM) reported high-grade gold assays from its Augustus Project in Arizona.

The channel sampling program revealed results like 0.5m at 116.7 grams per tonne of gold in sample 1005331.

Other assays include 0.5m at 38.3g/t gold and 1m at 20.0g/t gold, indicating widespread gold mineralisation.

The company's sampling program consisted of both channel samples and grab samples within shallow-dipping listric veins and stockworks.

A broad area featuring roughly fifty veins with a strike length of 6,583m was mapped and sampled.

The comprehensive analysis confirmed the presence of gold ranging from 0.02g/t to 116.7g/t. "These results highlight the potential of the Augustus Project," stated Craig Stranger, Non-Executive Chairman of Advance Metals.

"The significant gold assays reinforce the project's prospectivity and our commitment to aggressively pursue its development," Stranger added.

The company plans to continue further drilling, subject to requisite approvals, alongside metallurgical studies, trenching and sampling to advance the project.

A 3D geological model is also in its final stages and will be reported to the market once complete.

Advance Metals is a copper-focused exploration company with a portfolio of copper growth projects in mining-friendly jurisdictions of the United States. The company's projects include Augustus Polymetallic, Garnet Skarn Deposit, and Anderson Creek Gold.

At the time of reporting, Advance Metals' share price was $0.026.

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