Advance United Holdings (AUHI) Acquires Additional Land Expanding Buck Lake Property to Over 4,100 Acres - Oct 21, 2021
Advance United Holdings (AUHI) Acquires Additional Land
Expanding Buck Lake Property to Over 4,100 Acres
Highlights
• Assessment of past work and government geological investigations indicates at least
three (3) high potential zones which extend beyond the previously existing claims.
• Fifty-three (53) new and additional claims encompass these high potential zones and
increase the Buck Lake Property to 4,100 acres in size.
• The new property area includes similar geological units to those seen on the original
Buck Lake Property which typically fall into the category of Volcanic Massive Sulphides
(VMS).
Toronto, Ontario – (October 21, 2021) – Advance United Holdings Inc. (CSE: AUHI) (FSE: 9I0)
(the "Company" or "Advance United") is pleased to report that based on the results of known
and potential geological extensions of favorable geology the Buck Lake Property has been
expanded by the addition of fifty (53) additional claims.
The claims have been added in two general areas north and west of the existing property
(Figure 1). These cover extensions of potential VMS structures identified in the assessment of
past work in the area.
Figure 1: Location of Buck Lake extensions.
An analysis of past work combined with government geological mapping indicated that there
are additional areas hosting massive sulphide units similar to those found in the drilling on the
Buck Lake Property. A Report by the Ontario Geological Survey (OGS) titled “Ontario Geological
Survey Open File Report 6354 Report of Activities, 2018 Resident Geologist Program Timmins
Regional Resident Geologist Report: Timmins and Sault Ste. Marie Districts Recommendations
for Exploration VMS Targets in Lunkie Township and the Batchawana Greenstone Belt”
indicated the potential of the areas acquired, and copper and zinc rich samples were collected
by OGS staff from the area and referenced in the above report.
To the north of the Buck Lake Property, a series of trenches in the Private Lake North
occurrence uncovered two zones which are described as containing massive sulphide beds with
copper mineralization while an airborne Electromagnetic (EM) and magnetic survey to the west
of Buck Lake identified a 2 km long anomaly that appears, from government mapping, to be
comprised of massive sulphide in iron formation. Neither of these areas has reported copper or
gold assays.
“We are excited by the potential of the extended Buck Lake property. Our work crews are
currently completing the program at Buck Lake and will move to a program of geological
mapping, prospecting, and sampling on the new claims. We are preparing our work program to
include these new areas and will be completing follow-up work in 2022.” Advance United CEO
Jim Atkinson said. “This demonstrates the purpose and value behind our business model to re-
work existing data in known areas that supports, documents the potential, and allows us to
increase quantifiable resources and reserves using current standards and modern technology,
thereby increasing the value of the property and overall value of our portfolio of properties.”
About the Buck Lake Property
The Buck Lake Property lies in the Batchawana Greenstone Belt within the Abitibi Subprovince
of the Canadian Shield. The Abitibi Subprovince is known to host many VMS type of deposits
including Glencore’s Kid Creek Mine, the deepest base metal mine in the world.
Geologically the Buck Lake Property overlies the contact between mafic and felsic volcanics, a
classic Volcanic Massive Sulphide (VMS) target. An EM anomaly identified trending North-South
across the property, appears to be associated with the contact between felsic and mafic
volcanic units.
A previous drillhole conducted by Noranda Exploration in 1987 along the Electromagnetic (EM)
anomaly intersected two (2) zones of massive sulphide mineralization of 4.88 m and 4.72 m in
thickness (as reported in the MNDM Assessment Report).
Both massive sulphide zones were described as containing copper and zinc mineralization
although assays were not included in the available Assessment Report. Rock sampling during a
soil geochemical program completed in 2017 identified copper mineralization in the form of
chalcopyrite in rocks adjacent to the EM anomaly. A reconnaissance soil sampling program
2017 identified a 2,000-metre-long copper and zinc anomaly associated with the contact and
the EM anomaly.
The newly acquired claims contain similar geology and mineral occurrences which have not
been systematically explored.
Qualified Person
James Atkinson M.Sc., P. Geo., a Qualified Person ("QP") as such term is defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved
the geological information reported in this news release. The Qualified Person has not
completed sufficient work to verify the historic information on the Buck Lake Property,
particularly with regards to historical sampling and regional government-mapped geology. He
did however supervise the soil and rock sampling program carried out on the property in 2017.
The Qualified Person assumes that sampling and analytical results were completed to industry
standard practices. The information provides an indication of the exploration potential of the
Buck Lake Property but may not be representative of expected results.
About Advance United
Advance United, headquartered in Toronto, Canada, is traded on the Canadian Securities
Exchange in Canada under the symbol "AUHI" and the Börse Frankfurt Stock Exchange in
Germany under the symbol "9I0".
We are a different kind of Canadian junior mining company, one designed to succeed where
other junior mining companies fail. We are involved exclusively in the acquisition and
advancement of past projects - with no intent to bring them back into production or to mine
them ourselves. Our expertise is in identifying and acquiring undervalued properties with
significant historical work, which were uneconomic at the time, but we believe have economic
value at today's prices.
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.
Our purpose is to bring immediate and long-term value to our partners and shareholders while
seeking to eliminate exploration risk, so that we can all advance united in the shortest possible
time frame.
For additional information about us, our projects, or to find out how you can get involved
please visit www.advanceunited.ca.
Contact Information
James Atkinson P. Geo., CEO
Email: [email protected]
Tel: (647) 278-7502
Forward-Looking Information and Statements
This news release contains "forward-looking information" within the meaning of applicable
securities laws relating to trading on the CSE and the focus of the Company's business. Any such
forward-looking statements may be identified by words such as "expects", "anticipates",
"intends", "contemplates", "believes", "projects", "plans" and similar expressions. Forward-
looking statements in this news release include statements regarding the Company's ability to
increase the value of its current and future mineral exploration properties and, in connection
therewith, any long-term shareholder value, the Company's ability to mitigate or eliminate
exploration risk, and the Company's intention to develop a portfolio of historic gold properties.
Readers are cautioned not to place undue reliance on forward-looking statements. These
statements should not be read as guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different from those implied by such
statements. Although such statements are based on management's reasonable assumptions,
there can be no assurance that the Company will continue its business as described above.
Readers are encouraged to refer to the Company's annual and quarterly management's
discussion and analysis and other periodic filings made by the Company with the Canadian
securities regulatory authorities under the Company's profile on SEDAR at www.sedar.com. The
Company assumes no responsibility to update or revise forward-looking information to reflect
new events or circumstances or actual results unless required by applicable law.
Figure 1: Claims Added to Doyle Property
Figure 1. New claims added to Doyle Property.
Figure 4: VLF-EM Conductor Axes. The two general trends are noticeable. Also note that the
main gold occurrences are related to VLF-EM anomalies.