Advance Metals Limited ('Advance' or 'AVM' or 'the Company') is pleased to announce that the Company has completed its 2024 Phase 1 geochemical sampling and mapping program at the Augustus Copper-Gold Project in Arizona.
The program is part of the ongoing effort to expand the current exploration and geochemical databases . Rock chip sampling has been conducted to test for additional zones of copper and gold mineralisation where similar host rock units have been observed. The objective of these programs is to develop geological surface maps and sample outcrops for copper-gold-zinc. The rock chip sampling program has been designed to build off the previously announced 2023 results that included rock chip samples AUG-23-007 - 4.03% Cu, 21.67 g/t Au,1.32% Zn, AUG-23-008 - 11.97% Cu, 1.25% Zn and AUG-23-025 - 2.32% Cu, 8.12 g/t Au, 3.65% Zn 3
2024 Phase 1 Work Program Summary
The team started by mapping and sampling outcrops while taking channel samples along potentially copper stained historical workings. The geological observations were noted, photographed, and GPS located to start the development of a new surface map. All rock chip samples taken have been photographed, described, bagged, and sent to labs for assaying. The data generated from this program will be used for a new interpretation of the surface geology and to update the geochemical database used for exploration target development. The company believes the final results from these programs will to continue to upgrade the prospect and improve our understanding of the potential mineralisation at Augustus
About Advance Metals Limited
Advance Metals Limited (ASX: AVM) is a copper-focused exploration company with a world-class portfolio of copper growth projects in mining-friendly jurisdictions of the United States. We seek to maximise shareholder value through the acquisition, discovery, and advancement of high-quality metals projects. The Company utilises the expertise of our exploration team to identify underexplored and undervalued high-grade copper projects with significant geological potential. The Company has 100% ownership of the Garnet Skarn Deposit, the Augustus Project, and the Anderson Creek Gold Project. More information can be seen on the AVM website, www.advancemetals.com.au.
Forward-Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices, or potential growth of the Company, are or may be forward-looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high they might be, make no claim for absolute certainty. Any economic decisions that might be taken on the basis of interpretations or conclusions contained in this report will therefore carry an element of risk, or conclusions contained in this report will therefore carry an element of risk
Competent Persons Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr. Jim Guilinger. Mr. Guilinger is a Member of a Recognized Overseas Professional Organisation included in a list promulgated by the ASX (SME Registered Member of the Society of Mining, Metallurgy and Exploration Inc). Mr. Guilinger is Principal of independent consultants World Industrial Minerals LLC. Mr. Guilinger has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Guilinger consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Contact:
Tel: +61 2 8964 4373
Email: info@advancemetals.com.au
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