Highlights
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2022 work program identifies half kilometer mineralized Volcanic Massive Sulfide (VMS) zone anomaly with assay results testing up to 4.89% copper including other critical metal assets.
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10 of 15 drill hole results currently reported including drill hole BL-22-06, intersecting 4.59% copper, high grade copper over 3.2 meters in a 11.75 meter zone averaging 1.51% copper and containing notable zinc, gold, and silver values.
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Additional assay results from the 5 remaining drill holes are expected to be reported by the Company in Q1 2023.
Toronto, Ontario–(Newsfile Corp. – December 21, 2022) – Advance United Holdings Inc. (CSE: AUHI) (OTCQB: AUHIF) (FSE: 9I0) (the “Company” or “Advance United”) is pleased to announce the receipt of assay results for 10 of 15 diamond drill holes completed on the Buck Lake Property in Sault-Ste Marie, Ontario with additional results expected to be reported in early 2023.
Figure 1
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A total of 688 samples were analyzed from 10 drill holes and tested with the Actlabs facility in Timmins, Canada. The sampling was completed in accordance with their comprehensive Quality Assurance and Quality Control (QA/QC) program including the OREAS standards, blanks, duplicate core and pulp samples.
Drilling followed a successful summer work program which previously reported channel samples (see Company reports and Press Release Dated December 1, 2022) identifying 4.93% zinc, 0.33 g/t gold, and 1.58% copper.
“We are thrilled with the results from the operations team this year and the drill assay results thus far,” states Mr. Jim Atkinson, P.Geo., CEO of Advance United. “We appreciate the importance that these critical metals play in today’s commodity markets. And frankly this underscores our company’s development approach – capturing the value of critical materials and play an important role in making them available at a reasonable cost. They are essential for economic and national security and literally fuel the renewable energy sector and the electrification of transportation. Our important role as a modern developer providing producers and the mining industry these opportunities is very fulfilling and exciting for our team and shareholders.”
The VMS zones at Buck Lake were stripped of overburden to expose bedrock and identified 10 areas with significant potential. A total of 89 samples, over a total length of 85 meters, identified several high priority targets including area “M” which showed highly anomalous gold up to 0.33 g/t along with copper anomalies averaging 1.58% – a high grade potential.
The drilling traced a 500-meter VMS mineralized zone, which not only possibly remains open on strike but remains untested beyond the 140 meter drilling depth.
The drilling intersected massive and semi-massive sulphide mineralization which the Company believes corresponds to the source of the VLF EM anomalies outlined by the previous surface work. Figure 1 below shows the relationship of the mineralization intersected in the drilling to the main VLF EM anomaly.
The sulphide zone is open to the north and south and the Company intends to make the subject of follow-up with further geophysics. As no cut lines are required, VLF EM is an economical and environmentally responsible method to trace the mineralized horizon and it is planned to extend the survey to the north and south from the known mineralization.
Geological Prominence
The drilling encountered mixed volcanic units consisting of felsic and mafic volcanics with tuffaceous and agglomerate textures enclosing the massive to semi-massive sulfides which are dominantly pyrite and pyrrhotite with varying amounts of chalcopyrite and sphalerite and rarely galena. The sulphide zones are often enclosed in silicious material and exhalite and are often accompanied by chloritic alteration.
The environment is typical of VMS-type deposits such as Kidd Creek in Timmins and Horne in Noranda. Notably, VMS deposits occur in clusters as can be seen in Mattagami and in NW Quebec (Millenbach, Ansil, Corbet etc.)
Figure 2 Location of Drill Holes
Note: The sulphide intersections are presented in red and the various VLF EM anomalies are colored in yellow, orange, red and blue. The main mineralized zone is in Red.
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Copper and/or zinc mineralization was intersected in 8 of the 10 holes for which assays have been obtained generally in zones of 3 to 4 meters.
The highest copper value returned in the present drilling program was in drill hole BL-22-06 which returned a value of 4.59 % Cu over 3.2 m in a larger zone of…
Read More: Advance United Reports 4.6% High-Grade Copper and Critical Metals at Buck Lake