Advanced Gold begins follow-up drilling at Buck Lake

Executive Summary

• Advanced Gold Exploration Inc. has commenced a follow-up diamond drilling program on its 100%-owned Buck Lake property in Ontario, Canada, with an initial target of at least 500 metres of drilling.
• The program aims to test extensions of high-grade copper and silver mineralization discovered in 2022 within a volcanogenic-massive-sulphide (VMS) geological environment.
• The company highlights that only 500 metres of a 3,000-metre-long electromagnetic anomaly has been tested to date, with the current work designed to expand the depth and continuity of the high-grade copper zone.

Key Details

• Drilling Program Scope: At least 500 metres of diamond drilling, including base metal and gold assaying and reporting.
• Drill Status: A diamond drill has been deployed to the property and is scheduled to commence drilling immediately.
• Property Details: The Buck Lake property consists of 180 single-cell mining claims covering 3,886 hectares in Lunkie and Gapp townships, Batchewana greenstone belt, Northern Ontario. The property is fully permitted.
• 2022 Discovery Context:
  • The 2022 program identified high-grade copper mineralization in a VMS-type environment.
  • Copper and/or zinc mineralization was intersected in 13 of 15 holes, generally in zones three to four metres thick.
  • High-grade silver values up to 98 grams per tonne accompanied the higher-grade copper mineralization.
• Specific 2022 Drill Results:
  • Hole BL-22-06: 4.59% copper over 3.2 metres within a broader zone of 11.75 metres grading 1.51% Cu.
  • Hole BL-22-14: 0.42% copper over 4.15 metres.
  • Hole BL-22-15: 2.38% copper over 2.95 metres.
• Geological Environment:
  • The zone consists of massive sulphides (dominantly pyrite and pyrrhotite with chalcopyrite, sphalerite, and rarely galena) contained in a mixed sequence of volcanic units (felsic and mafic volcanics with tuffaceous and agglomerate textures).
  • Sulphide zones are often enclosed in silicious material and exhalate, accompanied by chloritic alteration.
  • The mineralization is contained within a 3,000-metre-long electromagnetic anomaly.
• Exploration Potential:
  • The geological environment is typical of VMS deposits such as Kidd Creek (Timmins) and Horne (Noranda).
  • A 2023 NI 43-191 technical report by Mike Kilbourne, PGeo, indicates the property is favourable for Archean VMS deposits, iron deposits, and orogenic gold deposits (due to the presence of banded iron formations).
  • There are eight additional prospective areas based on historical or recent base metal mineralization.
• Next Steps: Assay results will be announced upon receipt.

Notable Quotes

• "We are pleased to be back drilling at Buck Lake prior to year-end... The 2022 discovery hole of 4.59 per cent copper over 3.2 metres within a broader 11.75-metre zone grading 1.51 per cent copper, together with strong silver values up to 98 g/t, confirmed the presence of a significant VMS system. With only 500 metres of a 3,000-metre-long EM anomaly tested to date, the current program is designed to rapidly expand the depth and continuity of this high-grade copper zone and demonstrate the scale potential that Buck Lake clearly possesses." — Arndt Roehlig, President and CEO