Advance Metals High Grade Copper Assays - Channel Samples 1m@12.8% Cu Across the Vein & Grab Samples up to 20.8% Cu.

Augustus Project, Arizona

Advance Metals Limited (ASX:AVM)

SYDNEY, AUSTRALIA, September 4, 2024 /EINPresswire.com/ -- Advance Metals Limited (‘Advance’ or ‘AVM’ or ‘the Company’) is pleased to announce results for its rock chip sampling program at the Augustus Project in Arizona. The rock chip sampling program consisted of channel sampling across and along the vein and grab samples.

Augustus is located in Yavapai County, Arizona along trend to other major copper exploration and mining projects. The Augustus project is a high-potential copper-gold project associated with listric vein and carbonate replacement deposits, which until 2023 had never been fully consolidated.

2024 Sampling Results
The Company has received assay results from a sampling program which includes copper ranging from 0.10% to 20.84% Copper (Cu). The program is part of the ongoing exploration efforts the company is undertaking to develop its portfolio of assets. The company assayed forty-eight elements plus gold and is reporting copper as it continues to analyse the gold results.

Initial assay results confirm high grade mineralization at Augustus:
- 32 of the 34 samples returned grades over 1.0% Cu.
- Significant thick veins ranging from 1m-3m thick have been mapped over a broad area.
- Mineralisation was identified in bedrock below the alluvium and in creek beds.

Channel Sample intercept highlights across the vein include:
- 1005320: 1m channel sample @ 12.8% Cu
- 1005316: 1m channel sample @ 7.45% Cu
- 1005331: 0.5m channel @ 9.00% Cu
- 1005334: 0.5m channel @ 6.01% Cu
- 1005326: 2m channel sample @ 4.23% Cu
- 1005318: 2m channel sample @ 3.77% Cu

Grab Samples highlights include:
- 1005317: 20.83% Cu
- 1005323: 11.38% Cu
- 1005338: 5.61% Cu

Program Overview
The 2024 program targeted known adits, mine portals, shafts, and veins across the project area. The program consisted of rock chip samples including channel samples across and along outcropping veins, grab samples in veins and stockworks as well continuous mapping of geological features. Mineralisation at Augustus consists of shallow dipping listric veins and stockworks. Significant thicknesses of 1m-3m have been mapped and sampled over a broad area.

Roughly fifty veins with a strike length of 6,583 meters have been mapped at the surface on the property by AVM and others. The sampling program identified new areas of mineralization seen in creek beds and below the alluvial cover in previously unmapped mining shafts. The mineralization in the bedrock below the alluvium shows the potential for the mineralization to extend within the project boundary.

Channel Sampling
The identification of tabular bodies ranging from 0.3m – 2.0m dipping at 20-35 degrees with assays ranging from 1.74% - 12.84% Copper highlight a potentially rich mineralized system starting at surface. The collection of channel samples across the veins can be used as JORC maiden resource channel sample data points in the future once a proposed drilling program is completed. The historical producing areas and old workings are high value target areas that have been methodically sampled to understand the geochemistry in previously inaccessible areas.

Newly Identified Areas
During the sampling program the team was able to locate and sample previously unmapped adits beneath the alluvium. The team was also able to sample copper outcroppings in the creek beds below Bullard peak within the property boundaries. The identification of copper mineralization in the creek beds and within adits beneath the alluvium show the potential for highly mineralized vein and stockwork deposits contained within the current project boundaries.

Geochemical Sample Review
The Geochemical Results at the Augustus project show significant mineralization within the project boundaries starting at surface. The samples taken have been assayed from 0.10% to 20.84% Copper. The grab samples have similar grades to samples taken in 2023 and historically over a +100-year period. The results from the grab samples have identified new areas for further exploration and potentially identify areas where high grade copper extends below the gravels in previously unidentified shafts.

Next Steps
The company will update the market once it has completed analysis of gold and other element assay results. The mapping results will be reported in the coming weeks along with further assays from subsequent sampling programs. The company will now update all its technical information and reports. The company has planned further drilling (subject to satisfaction of all requisite approvals), metallurgical studies, trenching and sampling at the project area as part of its continued effort to develop the project.

For the full release and Full JORC Table available: Click here

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.

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.

Non-Executive Chairman - Craig Stranger
Advance Metals Limited (ASX:AVM)
cstranger@advancemetals.com.au