Advance United Announces Identification of New Targets Resulting from Recent Interpretation and Compilation of Regional and Local Geophysical Surveys at its Paint Lake Road Joint Venture
- Work by Bold Ventures Inc. on their adjacent property to the north of the Paint Lake Road Joint Venture Property (PLR JV) indicates prospective targets related to the extension of anomalies into the PLR JV property
- Recently interpreted Northwest trending magnetic low anomaly combined with the PLR JV property database has more accurately positioned the location of prospective gold targets for ground follow up work.
- A proposed prospecting and mapping campaign is planned to explore these areas in the summer of 2023.
Toronto, Ontario–(Newsfile Corp. – May 24, 2023) – Advance United Holdings Inc. (CSE: AUHI) (OTCQB: AUHIF) (FSE: 9I0) (the “Company” or “Advance United”) is pleased to announce that recent published work by Bold Ventures Inc. (read the full press release 2023 here) on their property adjacent to the Paint Lake Road Joint Venture (“PLR JV”) property has been incorporated with past work filed in the Ontario Government Assessment Database and has identified a strong northwest-southeast trending structure which crosses the PLR JV property.
The structure is typified on the Bold Ventures Property Airborne Magnetic Survey as an easily recognized magnetic low which appears to displace known EM anomalies and stratigraphy. AUHI Staff used the results from this survey to project features of interest onto the PLR JV ground. These include not only the magnetic break described above but also strong airborne VTEM anomalies. Further examination of past geophysical work identified the same magnetic low crossing ground to the southeast of the PLR JV property.
The Paint Lake Road Joint Venture press release dated November 23, 2022 described ground VLF EM anomalies which appear to align with a number of these VTEM anomalies (read the full press release here).
In discussing VTEM anomalies within the magnetic low feature Bold consulting Geophysicist Scott Hogg states, “The weak magnetic lineaments that bound the (VTEM) conductor to the SW and NE are evident in the profile presentation. This is the only anomaly identified that presents a weak linear conductor, in a magnetic low bounded by parallel weakly magnetic linears; a combination considered favorable for gold association.” The interpreted results are shown here in Map 1.
Map 1: Aeromagnetic results of Bold Ventures VTEM Survey with interpretation by Mr. Scott Hogg (Bold Website 2023). Note magnetic low feature (Shear zone?) trending NW-SE across the survey
To view an enhanced version of this graphic, please visit:
The magnetic break on the PLR JV property to be associated with displaced Magnetic highs and with topographic features which align with the structure. It appears that the shear zone has over 1 kilometer of strike length on the PLR JV Property. The strike of the shear zone appears to align with the location of the Mishi Pit of Wesdome approximately 5 km to the southeast.
The location of the projected magnetic feature and the extension of VTEM ad magnetic anomalies is shown on Map 2.
Map 2: Location of projected shear zone on PLR JV Property. Note the location of a magnetic feature in the southwestern part of the property which appears to be the extension of a magnetic high onto the PLR JV property.
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A program of prospecting, sampling, ground geophysics and geological mapping followed up by drilling as indicated has been prepared for the 2023 summer season and is set to begin as soon as logistics can be arranged.
About the Paint Lake Road JV
The project is a 50/50 Joint Venture with Frontline Gold Corporation (TSXV: FGC) and Advance United Holdings Inc. subsidiary Talisker Gold is the operator.
The PLR JV property is located in the Wawa area approximately 5 kilometers from the Mishi Open Pit of Wesdome Mining. The property is a 50/50 joint Venture between AUHI and Frontline Gold Corp. The property comprises 65 claims (1460 Ha) situated along the Northeasterly trending Pukaskwa/ Iron Lake Shear Zone. The claims are reported to be underlain by granitic rocks but the presence of airborne magnetic anomalies and the cross-cutting shear zone suggest complications. More information on the geology and targets on the PLR JV property can be found in the Press Release dated 11-22-2023.
“We are pleased to report new targets on the PLR JV property as a result of these regional interpretations. Often these regional structures can act as a control on gold mineralization and provide additional support for our drill target generation,” states Mr. Jim Atkinson, P.Geo. and CEO of Advance United.
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 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 in the Au Marketplace, visit www.advanceunited.ca.
About Frontline Gold Corporation
Frontline is a Canadian junior mineral exploration company. The Company’s core properties include the Crooked Pine Gold Project (Ontario), Copperlode Project (Ontario), the Flint Lake and Kakagi Lake Gold Project (Ontario), and the Route 109 Gold Project and the NE Bachelor Lake Gold Project which are both in the Abitibi Region of Quebec, and the Menderes gold project in the Izmir province of Western Turkey. Other Canadian exploration properties include other gold property groups in Ontario and include the Whitehorse Island Mining Patents.
Frontline continues to actively seek projects, and additional investor/partner(s) in order to continue to build upon its properties and net smelter return royalties
Further information about the Company is available on the Company’s website, www.frontlinegold.com, or our social media sites here: Facebook: https://www.facebook.com/Frontline Gold Corp./ Twitter: https://twitter.com/frontlinegold Linkedin: https://www.linkedin.com/company/frontline-gold-corp-fgc-.
Contact Information James Atkinson, P. Geo., CEO Email: email@example.com Tel: (647) 278-7502
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 work 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 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