Advance United Holdings drills 4.59% copper over 3.1 metres at Buck Lake, Ontario
Advance United Holdings Inc. [AUHI-CSE; AUHIF-OTCQB; 9I0-FSE] received assay results for 10 of 15 diamond drill holes completed on its Buck Lake property in Sault Ste. Marie, Ontario, with additional results expected to be reported in early 2023.
Highlights: 2022 work program identified a half-km mineralized Volcanic Massive Sulfide (VMS) zone anomaly with assay results testing up to 4.89% copper including other critical metal assets.
Ten of 15 drill hole results currently reported including drill hole BL-22-06, intersected 4.59% copper, high-grade copper over 3.2 metres in a 11.75-metre zone averaging 1.51% copper and containing notable zinc, gold, and silver values.
Additional assay results from the 5 remaining drill holes are expected to be reported in Q1 2023. A total of 688 samples were analyzed from 10 drill holes and tested with the Actlabs facility in Timmins, Canada.
Drilling followed a successful summer work program which previously reported channel samples, 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,” stated Jim Atkinson, P.Geo., CEO. “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-metre VMS mineralized zone, which not only possibly remains open on strike but remains untested beyond the 140-metre 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.
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.
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.),
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 metres.
The highest copper value returned in the present drilling program was in drill hole BL-22-06 which returned a value of 4.59% copper over 3.2 metres in a larger zone of 11.75 metres of 1.51% copper.
Advance United brings an entirely different approach to the mining industry. We don’t mine. Rather, we’ve acquired a portfolio of undervalued gold properties and are increasing their value through the application of modern technology. We have a growing pipeline of similar properties that we are looking to acquire. And now we’ve launched the Au Marketplace. A first of its kind digital platform that connects owners of mineral commodities and deposits with developers and producers.
We fund the development of re-working historic data and applying modern technology to underwrite new qualified reports, document quantifiable resources and reserves to current standards, thereby recognizing the current value.