Advance United Holdings Reports Drill Program Results Highlighting over 17.1 g/t Gold at the Melba Mine Property, Kirkland Lake Area, Ontario - March 6, 2023
Advance United Holdings Reports Drill Program Results Highlighting Over
17.1 g/t Gold at the Melba Mine Property, Kirkland Lake Area, Ontario.
Highlights
• 17.1 g/t over 1.0 meter and 6.6 g/t gold over 3.5 meters in drillhole MEL22-02.
• Assay values in 5 drillholes over 1.0 g/t Au and anomalous gold (>0.1 g/t) over 1.5 meters in
11 drill holes.
• Historically, gold was known to be hosted in brecciated quartz -carbonate veins and a new
mineralization style was identified with gold in porphyry dykes associated with disseminated
pyrite over widths up to 18 meters.
• Additional assets included significant silver up to 6.4 g/t Ag in the higher -grade gold
intersections and copper in the form of chalcopyrite identified in veins.
Toronto, Ontario (March 6, 2023) – Advance United Holdings Inc. (CSE: AUHI) (OTCQB: AUHIF) (FSE: 9I0)
(the “Company” or “Advance United”) is pleased to announce the Company has received the results from
the drill program at the Melba Property in Kirkland Lake Area in northern Ontario, Canada.
Figure 1: Core box of MEL-22-06 with 17.1 g/t over 1.0 meter and 6.6 g/t over 3.5 meters.
The drill program consisted of 12 drill holes totally 1,430 meters of drilling in the former Melba Mine area
to explore the known gold-bearing quartz veins and test unexplored areas to the north and south of the
known veins. The drilling was completed in November and December and terminated due to adverse road
conditions during freeze-up.
The drill program was focused on confirming and extending the quartz vein mineralization and exploring
previously unexplored areas of the property.
Gold and silver assays have been received for the 12 drill holes, these results confirm the locations of the
known quartz veins and included values up to 17.1 g/t over 1.0 meters in a zone of 3.5 m with 6.2 g/t. This
vein intersection is in the known gold shoot.
In addition, there were five additional intersections over 1.0 g/t gold. The higher-grade gold assays also
included silver in the range of 3 to 4 g/t with the highest being 6.4 g/t Ag.
11 of the 12 holes had intersections of anomalous gold (i.e. greater then 1.0 g/t Au) over distances of up
to 18 meters. These intersections represent a previously unknown style of gold mineralization related to
disseminated pyrite in porphyry dykes. This style of mineralization has not been identified previously on
the property and points to a new and exciting target.
“We believe there are exciting targets emerging from this drill program and we are pleased with the
results so far – we have confirmed the presence of high -grade gold in quartz veins and identified a new
model for targeting. “ states Mr. Jim Atkinson , P.Geo, CEO of Advance United . “The gold mineralization
discovered in the porphyry dikes is especially exciting. This style of mineralization has not been identified
previously on the property and points to a new and exciting target. We were not focused on this
mineralization in our recent program, but this discovery will allow us to pursue a different model of gold
mineralization – with different size implications. We are expecting to resume our program once the access
road is sufficiently frozen to allow the crews to get into the mine area. The break has allowed us to
examine the results obtained so far and refocus our program to better test the new model and follow-up
on the high-grade gold we have found. I would like to commend the drilling crew and our field crews for
their efforts in very difficult conditions during freeze-up. They did a great job.”
Melba Mine Assay Results
Melba Mine Drillholes
Hole Number From To length Gold (Au) Silver (Ag)
meters meters meters gram/tonne gram/tonne
Mel-22-01 63.40 69.50 6.10 0.41 0.34
Including 65.20 67.10 1.90 1.00 0.88
MEL-22.02 68.60 71.90 3.30 6.60 3.46
Including 68.60 69.60 1.00 17.10 6.40
MEL-22-03 19.00 20.40 1.40 0.52 0.60
61.70 63.40 1.70 1.02 0.82
66.15 68.30 2.15 0.41 0.40
MEL-22-04 64.20 67.00 2.80 1.71 5.83
MEL-22-05 6.00 15.50 9.05 0.19 NSV
67.30 72.30 5.00 0.70 1.30
MEL-22-06 4.50 12.50 8.00 0.13 NSV
28.80 47.00 18.20 0.20 NSV
53.00 59.40 6.40 0.38 0.75
MEL-22-07 15.64 17.45 1.81 1.37 0.66
73.20 75.80 2.60 0.43 NSV
83.40 86.25 2.85 0.56 NSV
MEL-22-08 15.00 17.80 2.80 0.90 NSV
75.80 82.80 7.00 0.41 NSV
87.50 92.15 4.65 0.24 NSV
MEL-22-09 20.00 27.85 1.65 2.06 3.25
104.90 106.75 1.85 0.80 1.40
136.05 137.65 1.60 0.21 NSV
MEL-22-10 22.00 23.70 1.70 1.22 1.26
91.90 93.85 1.95 0.55 0.70
MEL-22-11 18.00 19.50 1.50 0.27 NSV
91.25 92.60 1.35 0.35 1.35
103.90 106.90 3.00 0.21 NSV
MEL-22-12 NSV
NSV= No Significant Values
Additional Surface Sampling
With reasonable access established and the known gold veins identified and exposed, stripped, and pitted,
prospecting work resulted in a total of 94 samples being collected and submitted to Actlabs in Timmins
for analysis.
The resulting assays indicated that the average of all samples collected was over 1.2 g/t gold with six of
the samples returning greater than 5 g/t gold including 14.6 g/t, 11.9 g/t and 10.6 g/t. Visible gold was
identified in at least one of the samples.
The initial sampling confirms the presence of high-grade gold on the property. Underground sampling in
the past determined at least two gold mineralized shoots that averaged 22.5 g/t over a length of 25 meters
and 16.22 g/t over a length of 85m in the underground workings.
About the Melba Mine
Gold was first discovered on the property in 1934 and the Melba Mine began development in 1936 but
was shut down shortly thereafter with the declaration of World War II.
In 1936 Melba Gold Mines Limited began production and completed a 246 foot (75m) inclined shaft and
900 feet (275 m) of lateral drift work. Over the years, from 1939 to 1988, numerous companies worked
the property mapping and grab / bulk sampling and performing ground and airborne geophysics. The
property also experie nced significant drilling and a compilation of this work indicates significant gold
mineralization remains in the old workings. All of the material removed form the underground workings
remains on site as a potential resource.
In the past four gold -bearing quartz-calcite veins have been identified and trenched on the property.
These include the Rolling Vein, Mike Vein, Blue Vein, and the Contact Vein. Our prospecting crews have
begun to expose these veins and preliminary sampling has been undertaken. Fu rther detailed sampling
will be carried out on the veins in the new year.
Geologically, the Melba Mine is situated on a regional shear that appears to originate at the Destor -
Porcupine Fault Zone and extends to the south through the Lynx Deposit of the Black Fox Mine of McEwen
Mining and the former producing Ross Mine to the Melba area. See map:
Figure 2: General Geology of the Melba Area
The geological setting of the Melba Mine has been compared to the nearby Ross Mine which produced
over 1.2 million ounces of gold and 1.5 million ounces of silver over its life.
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 back into production or to mine them ourselves. Our expertise i s 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 in 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 ap proved 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 work provided by 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 reasonable assumptio ns, 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.