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Pacific American Holdings Ltd. ( (AU:AVM) ) has provided an announcement.
Advance Metals has reported encouraging early drilling results from its Happy Valley Gold Trend in Victoria, with maiden diamond holes at the Queen of the Hills prospect confirming new zones of gold mineralisation several kilometres from the main Happy Valley deposit. Additional diamond holes have been completed at the nearby Sheards Reef target, and assays are pending from multiple deep holes testing down-plunge extensions at the ultra-high-grade Happy Valley mine.
The company is also reviewing historical shallow high-grade zones and has commenced metallurgical test work aimed at assessing low-cost gravity gold recovery options, signalling a move from pure exploration toward potential development studies. Collectively, the broader program across multiple prospects underscores the potential for multiple mineralised centres along the 13km trend and could materially expand the scale and economic viability of the Myrtleford Project if pending assays and metallurgy results prove positive.
The most recent analyst rating on (AU:AVM) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on Pacific American Holdings Ltd. stock, see the AU:AVM Stock Forecast page.
More about Pacific American Holdings Ltd.
Advance Metals Limited is an Australian mineral exploration company focused on gold exploration within the Victorian Goldfields. Its flagship Myrtleford Project includes the Happy Valley Gold Trend, where the company is targeting high-grade underground gold systems and potential district-scale mineralisation along a 13km strike hosting numerous historic workings.
Average Trading Volume: 6,076,614
Technical Sentiment Signal: Sell
Current Market Cap: A$39.74M
Find detailed analytics on AVM stock on TipRanks’ Stock Analysis page.