DEVELOPING HIGH GRADE COPPER ASSETS
US BASED
US FOCUSED
Advance Metals
Advance Metals Limited (ASX:AVM) is a mining company focused on developing its flagship projects the Augustus Project and the Garnet Skarn Project.
The Augustus Project located in Central Arizona is a district wide advanced exploration and development Copper-Gold project that has been previously explored and drilled by majors such as Teck Cominco, Free Ports and Asarco.
The Garnet Skarn Project located in Western Idaho is a large-scale high-grade copper skarn project that was previously explored and drilled by the Anaconda Mining company. These two high-grade growth projects have the potential to be mid-size producers for the US domestic market.
AVM’s strategy is to develop a portfolio of low-cost, high-grade deposits with a potential +100Mt of copper resources. To facilitate this the company has established a US SPV called Northern Eagle Mining to manage the development of its project and attract direct investment from North American Investors. The company also has established a critical minerals Joint Venture called Bandera Mining LLC.
Northern Eagle Mining
Northern Eagle Mining is a special purpose vehicle (SPV) that has been established to manage AVM’s project and attract direct investment from North American investors at the project level. Northern Eagle holds the exploration leases and mining Claims to AVM’s flagship projects in the USA.
Bandera Mining
Bandera Mining is a Joint Venture between AVM and World Industrial Minerals (WIM) that is focused on critical minerals such a Gallium, Germanium, Molybdenum. The Joint Venture gives the company access to geological technical skills in metals and minerals as well as access to new projects. The Principal of WIM is a Qualified Person (QP) for completion of NI 43-101, JORC, AIM and SAMREC.
Augustus Project
The Augustus Project is a high-grade Copper-Gold advanced exploration and development project located in Yavapai County, Arizona, USA. The project totals 902 hectares (2,229 acres) and resides in approximately 125 km northwest of Phoenix, AZ.
Augustus is located in an area along trend to other major mining projects that are currently being developed. The project has undergone several exploration campaigns for copper and gold. These campaigns focused on different areas within the property boundary and have utilised various methods such as drilling, geochemical sampling, mapping, and geotechnical studies.
Significant Exploration Results from 2024 Program include:
Historical Drilling Results:
- 30 FT @ 5.8 g/t Au
- 25 FT @ 6.1 g/t Au
- 5 FT @ 7.8 g/t Au
- 3 FT @ 4.3 g/t Au + 8.9% Cu.
*Historical Results are not validated and need to be validated
Mineralisation
Mineralisation at Augustus consists of shallow dipping listric veins and stockworks on the property mapped by AVM and others. The 2024 Geochemical sampling program included vertical and horizontal channel as well as rock chip sampling across several tabular bodies ranging in width from 0.3m to 2m dipping at 20-35 degrees.
Copper and gold mineralisation at the project have been mapped from surface over a large area. Drilling data from past explorers such as Teck Cominco, Freeport-McMoRan and Asarco observe mineralisation in drill holes at depth.
The mapping and drilling data observe that mineralisation starts at surface and continues at depth. The exploration work and new interpretation undertaken by AVM have identified areas with open cut potential.
Project Highlights:
- High Grade Copper: Multiple historical rock chip samples assayed over 1% Copper.
- Unique Land Position: 7km squared area of contiguous mining claims follows key structures from east to west.
- Multiple Drilling Campaigns: Over 20,000 feet of historical drilling by majors like Teck Resources, Freeport-McMoRan, and Asarco Resources.
- Copper Outcrops: Several copper outcrops have been mapped and sampled.
- Mineralization from surface to depth: Multiple copper intersections in historic drill holes have been observed from surface to depth.
Garnet Skarn Deposit
The Garnet Skarn Deposit is located in Adams County, Idaho (ID), USA. The Project comprises 2,527 contiguous acres of unpatented mineral lands held 100% by Advance Metals.
Significant Exploration Results include:
- Recent Rock Chip Samples: GC-22-007 – 21.24% Cu, 8.4 g/t Au, 345g/t Ag, GC-22-023 – 12.98% Cu, 1.6% Mo, 127g/t Ag, GC-22-012 – 3.61% Cu, .767% Mo
- Historical Drilling Results: *36.5ft @ 5.35% Copper (Adjacent Property), 84ft @ 7.52% Copper (Adjacent Property)
*Historical Results are not validated and need to be validated
The project has an exploration target of 20Mt-30Mt @ 0.7% copper that only covers 25% of the project and shows potential for significant upgrades.
The Project is a high-grade copper advanced exploration and development project with a lengthy history of exploration surrounded by historic producing mines.
Copper mineralisation at the project has been mapped from surface over a large area. Drilling data from Anaconda at adjacent properties observe high grade copper mineralisation in drill holes at depth.
Recent exploration at Garnet Skarn include mapping, geochemical rock chip and soil sample collection along with geophysical surveys. Select rock chip samples collected assayed over 21% Copper with numerous samples coming back over 1% Copper.
Project Highlights
- Large Land Position: 10km squared area of contiguous mining claims follows key structures from North to South.
- Extensive geological database: Over 3,000 feet of historical drilling by majors Anaconda Mining around project area. A historic drill hole averaged 2.9% Cu over 126 Feet.
- Copper Mineralization from surface to Depth: Multiple copper intersections were taken at depth, with grades up to 0.4% Cu below diorite.
- Known Production: Numerous mines and dumps have been mapped surrounding the project area, with some dumps showing up to 2% Cu on adjacent private land.
- Untapped Copper: Historic mine workings are shallow at 325 feet deep, while drilling shows copper mineralization well below that depth.
Northern Eagle Mining - Base Metals
Nevada Special Purpose Vehicle
Northern Eagle Mining is a special purpose vehicle registered in Nevada with a focus on the acquisition and development of metals projects in the Western USA.
The company has been established to attract investment directly at the project level from North American and European investors.
For more information please contact Frank Bennett at fbennett@advancemetals.com.au
Bandera Mining - Critical Minerals
Joint Venture Company
Bandera Mining LLC is a Joint Venture company focused on the acquisition and development of critical minerals projects in North America.
The Joint Venture has been been set up with renowned exploration specialist Jim Guillenga to pursue a pipeline of projects in Texas, Utah, Colorado, North Dakota and Arizona.
Latest News
| Date | Headline | Price Sensitive |
|---|---|---|
| 19/09/2024 | High Grade Gold Assays - Augustus Project, Arizona | Yes |
| 12/09/2024 | Half Yearly Report | Yes |
| 29/08/2024 | High Grade Copper Assays - Augustus 2024 | Yes |
| 05/08/2024 | Notice of Annual General Meeting | Yes |
| 30/07/2024 | June 30th 2024 Quarterly Report | Yes |
| 16/07/2024 | Augustus Sampling and Mapping | No |
