Advance Metals Intersects Broad High-Grade Silver Zone in Maiden Drilling at Gavilanes Project

Advance Metals (ASX: AVM) has intersected a very broad zone of high-grade mineralisation in the first diamond hole of a maiden drilling program at the Gavilanes silver project in Mexico.

Drilling of 18 holes for a total 4,500 metres was designed to target down dip and southerly strike extensions to the high-grade Descubridora structure within the project.

Gavilanes hosts an existing foreign estimate of 2.83 million tonnes at 246 grams per tonne silver equivalent (AgEq) for 22.4 million ounces.

Advance is updating the project’s geological model that, together with assay data from the full diamond drilling program, is expected to support the JORC Mineral Resource upgrade targeted for completion in the final quarter of 2026.

Broad Silver Zone

The first hole was drilled to a depth of 276m and intersected a broad zone of mineralisation 80m down dip to the west of a high-grade zone defined in historical drilling for a best assay of 33.9m at 220g/t silver from 117.6m including 6.2m at 718g/t from 133m.

Multiple silver intersections deeper in the hole were associated with increasing base metals and gold.

Highlights from this section were 3.3m at 270g/t silver, 0.2g/t gold, 0.7% copper, 0.7% lead, and 1.1% zinc from 164.6m including 1.65m at 394g/t silver, 0.4g/t gold, 1.1% copper, 1.1% lead, and 1.7% zinc from 166.25m, along with 0.7m at 44g/t silver, 0.1g/t gold, 1.1% copper, 0.3% lead, and 0.3% zinc from 183.8m.

Advance recently completed a second diamond hole to a depth of 291m to test the southern extension of the known system, with plans underway for a third extensional hole on the same drill section.

Resource Upgrade Planned

Managing director Dr Adam McKinnon said the maiden campaign had delivered encouraging first results.

“This is an excellent first result from our maiden drilling program at Gavilanes and provides early validation of the strategy we outlined when drilling commenced in May,” he said.

“Gavilanes already hosts a substantial high-grade foreign estimate and these first assays strengthen our confidence in the project’s potential to support a planned resource upgrade later this year.”

“These results come immediately after a highly successful drilling program at our Yoquivo silver-gold project, where the endowment has doubled to 33Moz AgEq.”

“Both projects are now presenting an unparalleled growth and development opportunity for us, with significant additional near-term value to be unlocked as we continue to execute the growth strategy across our Mexican portfolio.”