Advance Metals Ltd (ASX:AVM, FRA:4MF, OTC:AVMLF) has extended high-grade silver mineralisation at its 100%-owned Gavilanes Project in Mexico by a further 55 metres to the south, with its fourth consecutive drill hole returning a strong silver intersection.
Diamond hole GV-26-004 returned 13.2 metres at 311g/t silver, including 6 metres at 612g/t silver, adding to evidence of continuity across a mineralised corridor extending for more than 750 metres of strike.
The result means all 4 holes completed and assayed so far in Advance Metals’ maiden drilling program at Gavilanes have intersected high-grade silver mineralisation.
Earlier holes returned 33.9 metres at 220g/t silver, 8.4 metres at 245g/t silver and 15.6 metres at 309g/t silver.
Assays are also pending from holes GV-26-005 and GV-26-006, which represent the company’s largest southern step-outs to date and were drilled more than 100 metres further south.
Silver system remains open
GV-26-004 was drilled 55 metres south of the preceding holes to test the continuation of the known silver system.
The hole intersected 2 notable silver zones from 123 metres depth, including the headline interval of 13.2 metres at 311g/t silver, with 6 metres at 612g/t, as well as 6 metres at 199g/t silver, including 2.4 metres at 367g/t silver.
Advance said the results continued to expand rather than close off the mineralised system, which remains open up-dip, down-dip and along strike.
Reported intersections are downhole widths, with true widths yet to be determined.
Advance Metals managing director and CEO Dr Adam McKinnon said the fourth consecutive high-grade result strengthened confidence in the scale and continuity of Gavilanes.
“Four holes into our program at Gavilanes and every single one has hit high-grade silver,” he said.
“Importantly, we are continuing to expand the system rather than define its limits. The mineralisation is open up-dip, down-dip and along strike.”
Broader polymetallic system emerging
Drilling has also provided evidence that Gavilanes hosts a broader copper-gold-silver system beneath the near-surface silver mineralisation.
Earlier holes GV-26-002 and GV-26-003 intersected 54.6 metres at 0.6% copper, 22g/t silver and 0.3g/t gold, and 37.5 metres at 0.6% copper, 83g/t silver and 0.8g/t gold, respectively.
Advance interprets the results as a vertically stacked mineralised system, with silver-rich mineralisation closer to surface and a more polymetallic copper-gold-silver association at depth.
McKinnon said the combination of grade, scale and exploration upside was becoming increasingly important to Advance’s Mexican growth strategy.
The company intends to continue expanding the mineralised footprint and incorporate results from the current drilling campaign into a maiden JORC Mineral Resource targeted for the fourth quarter of 2026.
About the Gavilanes Project
Gavilanes covers 136 square kilometres in Mexico’s Sierra Madre Occidental volcanic belt, which hosts several major silver deposits.
The project is around 23 kilometres from First Majestic Silver’s San Dimas operation, within a district that has historically produced about 745 million ounces of silver and 11 million ounces of gold.
Much of the project remains lightly explored, with several mapped vein systems yet to be tested using modern drilling.
Gavilanes currently has a foreign estimate of 2.83 million tonnes at 246g/t silver equivalent for 22.4 million ounces of silver equivalent.
The estimate is not compliant with the 2012 JORC Code and has not been classified as a Mineral Resource or Ore Reserve under Australian reporting standards.
Advance plans further drilling along up to 500 metres of the Descubridora structure, as well as additional targets including San Nicolas, El Nopal and La Cruz/La Tuna.
About Advance Metals
Advance Metals is focused on precious and base metals exploration in Mexico, where Gavilanes forms part of a broader portfolio of silver assets.
The company has also established a 33-million-ounce silver equivalent inferred JORC Mineral Resource at the Yoquivo Project.
Its near-term focus at Gavilanes is on extending the known high-grade silver system, testing the wider polymetallic potential and progressing the project toward its first JORC-compliant Mineral Resource.