Advance United Holdings Completes Phase I Drill Program on Buck Lake Property - Nov 7, 2022
Advance United Holdings Completes Phase I Drill Program on Buck Lake
Property
Toronto, Ontario (November 7, 2022) – Advance United Holdings Inc. (CSE: AUHI) (OTCQB: AUHIF) (FSE:
9I0) (the “Company” or “Advance United”) is pleased to announce completion of the preliminary diamond
drilling program at their Buck Lake Property in the Batchawana Greenstone Belt in northern Ontario.
The program comprised a total of 2,543 meters across 15 diamond drill holes. The program was focused
on exploring the previously identified VLF-EM anomaly in the vicinity of the 1986 Noranda drill hole. The
drill hole previously completed by Noranda had identified two zones of massive sulphide with visible
copper and zinc mineralization, but no assays were reported.
Photo of the drilling rig set up on drill hole BL22-04.
The geology of the Buck Lake Property is prospective for Volcan ic Massive Sulphide (VMS) type of
mineralization which could be typified by large bodies such a s the Horne Mine and Kid Creek Deposit or
clusters of smaller bodies such as the Millenbach / Corbet area of NW Quebec.
A 3,000 meter long airborne EM anomaly had also been identified on the property by a previous company,
and a soil sampling program in 2016 identified an area of anomalous copper and zinc in the northern part
of the EM trace.
The Advance United team decided to focus a VLF -EM ground sur vey in this area and a strong NNW
trending anomalous zone was identified.
The recent drilling was aimed at testing this anomaly.
The Figure 1 map above shows the trace of VLF-EM anomaly in the area of Noranda diamond drill hole
(noted as Noranda DDH on the map and note this is where the drilling was concentrated.
A zone of anomalous response was traced for over 800 meters with two area of stronger response noted.
Stripping of the overburden and subsequent washing exposed the sulphide zone over a distance of 500
meters prior to drilling.
Photo of sulphide zone exposed by stripping and washing. Note rusty zone in front of the field geologist.
Photo of the field crew cleaning and sampling massive sulphide exposure in Area F.
The recent drilling was focused in the areas of stronger VLF-EM response and intersected massive and
semi massive sulphide mineralization consisting of pyrite, pyrrhotite chalcopyrite and sphalerite in a
northwest trending zone over distance of at least 500 meters length.
The intersections of mineralization ranged from 0.5 meter to 14.5 meters in thickness, where drill length
and true thickness has not been determined. The zone is open to the south.
Photo of massive and semi-massive mineralization from drillhole BL22-04. The mineralization is a mixture
of pyrrhotite and pyrite with chalcopyrite. Note the silicified nature of the surrounding rocks possibly
indicating these are possible exhalites.
A summary of the drilling and sulphide intersections encountered is shown below in Table 1.
Buck Lake Drilling Details
Hole No. Length (m) Mineralization (m)
BL22-01 252 0.5
BL22-02 201 14.0
BL22-03 234 14.1
BL22-04 243 9.6
BL22-05 252 1.5
BL22-06 143 1.4
BL22-07 156 none
BL22-08 144 none
BL22-09 171 0.5
BL22-10 168 3.4
BL22-11 45 8.8
BL22-12 174 3.4
BL22-13 207 7.5
BL22-14 96 2.0
BL22-15 57 2.5
TOTAL 2,543 meters
“We are very pleased by the recent drilling at Buck Lake and look forward to receiving the assay
results. Our field crews and drillers did excellent work on this project and the results will assist our
efforts in other areas on our property which we have e xpanded to cover similar geology and
mineralized showings. The property now totals over 3,900 hectares”, states Jim Atkinson, P.Geo.,
CEO.
About Advance United Holdings
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 are involved exclusively in the acquisition and advancement of past projects - with no intent to bring
them b ack 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 list your project i n the Au
Marketplace, visit www.advanceunited.ca.
Contact Information
James Atkinson, P. Geo., CEO
Email: [email protected]
Tel: (647) 278-7502
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 all historic information on the Property, particularly with regards to historical sampling, drill results,
and technical wor k provided by Noranda and others. 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 Property but may not be representative of expected results.
Forward-Looking Information and Cautionary Statements
This news release may contain "forward-looking information" within the meaning of applicable securities
laws relating to the trading of the Company’s securities 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 reason able 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 Co mpany 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.