Advance Metals (ASX:AVM) Confirms Depth Potential at Happy Valley with Outstanding New Gold Assays
18 November 2025 – Perth, Australia | Advance Metals Limited (ASX:AVM) has today announced significant assay results from its deep drilling at the Company’s Happy Valley deposit in the Victorian Goldfields, confirming high-grade gold mineralisation at greater depths and strengthening the project’s potential emerging scale.
The Company has reported a major extension to the known mineralised system through deep diamond drill hole AMD014A, which intersected 3.7 metres at 16.6g/t gold from 464.5 metres, including 0.8 metres at 62.3g/t gold.
These new results push high-grade mineralisation an additional 140 metres down-plunge, with the system now defined over more than 500 vertical metres and remaining open in all directions.
The results follow a series of high-grade intercepts returned earlier this year and come as Advance Metals accelerates its exploration programs across the broader Happy Valley Trend.
A second diamond drill rig is now in operation at the Queen of the Hills Prospect, marking the first modern drilling undertaken outside the Happy Valley Mine along this historic trend.
Commenting on the high grade assay results from diamond hole AMD014A, Managing Director Dr Adam McKinnon said:
“We now have assay confirmation that the exceptional gold intersections that have defined our exploration programs at Happy Valley throughout 2025 continue to a substantial depth. The latest drilling shows that contiguous, high grade gold mineralisation extends from the surface to more than 500m down-plunge, indicating that the system has scale potential to go with the incredible grades.”
“Given that these results have extended Happy Valley more than 140 metres down-plunge, I believe that AMD014A is the single most significant hole completed at the Myrtleford Project to date. The high grade gold mineralisation in this hole is open in all directions – and who know what else we may uncover as the team executes the follow-up diamond drilling programs.”
“I am also very excited that we have now commenced a maiden drilling program at the Queen of the Hills prospect. This represents the first modern drilling of the broader trend outside of the Happy Valley Mine and could add significant value to the emerging high grade discovery in the region.”
The drilling program will continue into CY2026, with further holes planned to assess continuity around AMD014A and test for additional depth extensions. Further approvals are also being sought to facilitate deeper drilling as the Company’s exploration efforts progress.
About us:
About Advance Metals Limited (ASX:AVM)
Advance Metals Limited (ASX:AVM) is a silver and gold exploration and development company with high quality assets in North America and Australia.
In October 2024 the Company announced the acquisition of a 100% interest in the high grade Yoquivo Silver-Gold Project in Chihuahua, Mexico. The project sits in the prolific Sierra Madre Occidental Belt and boasts an existing NI43-101 Foreign Estimate of 17.23Moz silver-equivalent (AgEq) at a grade of 570g/t AgEq, with immediate upside potential. AVM conducted its maiden exploration program at Yoquivo in May 2025, comprising 3,100 metres of diamond drilling in the high grade Pertenencia area.
Advance also entered into an agreement in January 2025 to purchase the Gavilanes Silver Project in Durango from Sailfish Royalty Corp (TSX-V:FISH & OTCQX:SROYF). The project lies 23km northeast of First Majestic Silver Corp’s San Dimas Mine (134Moz Ag) and has an existing NI43-101 Foreign Estimate of 22.4Moz AgEq at 246g/t AgEq. Only a small percentage of the known mineralisation is currently drilled, with Advance expecting to kick-off exploration at the site shortly.
In July 2025, AVM announced its most significant acquisition to date, entering into an agreement to acquire a 100% interest in the Guadalupe y Calvo Gold-Silver Project (GyC) from Endeavour Silver Corp. Golkd and silver mining has occurred at GyC since 1835 with at least 2Moz Au and 30Moz Ag produced from the site. The project hosts current NI43101 Indicated and Inferred Resources of 816koz AuEq or 60.6Moz AgEq, with significant potential upside identified by Advance’s technical team.
In early 2025 the Company entered into an agreement with Serra Energy Metals (CSE:SEEM & OTCQB:ESVNF) to acquire an 80% joint venture interest in the high grade Myrtleford and Beaufort Gold Projects in Victoria, Australia. Advance’s maiden drilling program at the Myrtleford Project has produced exceptional grades at the Happy Valley Prospect, including 7.5 metres at 47.9g/t Au in AMD003 and 8.2 metres at 22.4g/t Au in AMD001, with follow up drilling along strike and down dip planned in the near future.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
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