- Advance Metals' second diamond drill hole at its Gavilanes Silver Project in Mexico has extended high-grade silver mineralisation to the south whilst delivering the strongest copper intercept recorded at the project to date.
- The standout result from hole GV-26-002 returned 8.4 metres at 245g/t silver, including 3 metres at 523g/t silver, plus a 54.6-metre zone grading 0.6% copper, 22g/t silver and 0.3g/t gold beneath the existing silver system.
- A review of historical drilling identified a previously unreported copper-silver-gold intersection in a nearby hole, supporting the interpretation that mineralisation strengthens at depth and that Gavilanes may represent a stacked, multi-stage system similar to the San Dimas district.
- The results build on Advance Metals' broader Mexican exploration strategy, which earlier this year delivered a 33Moz silver equivalent JORC Inferred Mineral Resource at its Yoquivo project.
- Assays are pending from a third drill hole at Gavilanes with a fourth hole underway, and the company is targeting a JORC Mineral Resource upgrade for the project in the fourth quarter of calendar year 2026.
1 July 2026 – Perth, Australia | Advance Metals (ASX: AVM) has strengthened the case for a large-scale polymetallic discovery at its Gavilanes Silver Project in Mexico after its latest drilling extended the project's high-grade silver system while delivering the strongest copper intercept recorded to date.
The Company's second diamond drill hole has confirmed that high-grade silver mineralisation continues to the south of the known deposit, while also intersecting a broad copper-silver-gold zone beneath the existing silver system. The result provides further evidence that Gavilanes may host a much larger mineralised system than previously recognised and supports Advance's evolving geological model of the project.
The standout result from hole GV-26-002 returned 8.4 metres at 245g/t silver, including 3 metres at 523g/t silver, before intersecting a 54.6-metre zone grading 0.6% copper, 22g/t silver and 0.3g/t gold. The broad copper interval is the strongest encountered at Gavilanes and introduces a significant new growth opportunity beneath the established silver mineralisation.
Importantly, a review of historical drilling identified a previously unreported broad copper-silver-gold intersection in nearby hole SCHN-01, providing further support for the Company's interpretation that copper and gold mineralisation strengthens at depth. Combined with the latest drilling, the results suggest Gavilanes could represent a stacked, multi-stage mineralising system similar in geological style to the nearby San Dimas district.
The latest results continue the momentum from Advance's Mexican exploration strategy following the delivery of a 33Moz silver equivalent JORC Inferred Mineral Resource at Yoquivo earlier this year. With assays pending from a third drill hole and a fourth hole currently underway, the Company expects a steady stream of news flow as it works towards a planned JORC Mineral Resource upgrade for Gavilanes in the fourth quarter of calendar 2026.
Commenting on the new results from the Company's drilling program at Gavilanes, Advance's Managing Director & CEO Dr Adam McKinnon said:
"Our second diamond drill hole (GV-26-002) is a significant result for Advance because it extends the high grade silver system to the south and delivers the strongest copper interval drilled at Gavilanes to date. Importantly, the broad copper-silver-gold zone sits below the silver-dominant mineralisation, supporting our view that Gavilanes has the potential to host a much larger polymetallic system.
With assays pending from GV-26-003 and a fourth hole now underway, we have multiple near-term catalysts as we continue to build the geological model ahead of the planned JORC Mineral Resource upgrade for Gavilanes in early Q4 CY2026.
Gavilanes is advancing alongside Yoquivo, where Advance recently delivered a 33Moz AgEq JORC Inferred Mineral Resource. Together with Guadalupe y Calvo, our Mexican projects provide a growing high grade precious metals platform in one of the world's most prolific silver regions."
Drilling is continuing at Gavilanes, with assays pending from hole GV-26-003 and further drilling planned along up to 500 metres of strike at the Descubridora structure, as well as follow-up work at the San Nicolas, El Nopal and La Cruz/La Tuna targets. Results from the current campaign will be incorporated into a planned JORC Mineral Resource upgrade targeted for Q4 CY2026.
About us:
About Advance Metals
Advance Metals (ASX: AVM) is a high-grade silver and gold exploration company with advanced projects in Mexico and Australia, executing a funded growth strategy to expand resources and deliver new discoveries.
In Mexico, Advance’s 100% owned Yoquivo Project hosts a maiden JORC Mineral Resource of 33Moz AgEq, comprising 8.8Mt at 120g/t AgEq, with mineralisation open along strike and at depth. The Company’s Mexico portfolio now totals 116Moz AgEq, including Yoquivo, the district-scale Guadalupe y Calvo Project, which hosts 60.6Moz AgEq, and the 100% owned Gavilanes Silver Project, which hosts a 22.4Moz AgEq Foreign Estimate. Drilling has commenced at Gavilanes, targeting extensions to the high-grade system ahead of a planned JORC Resource upgrade.
In Australia, Advance is moving to 100% ownership of the high-grade Myrtleford and Beaufort Gold Projects in Victoria. At Happy Valley, drilling has confirmed high-grade gold mineralisation extending to at least 500m below surface, with standout results including 8.2m at 28.8g/t Au, 7.5m at 55.0g/t Au and gravity gold recoveries of up to 96.1%. With structural modelling, pending assays, regional mapping and drill targeting underway, Advance is focused on rapidly growing its high-grade precious metals portfolio.
Contact details:
Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+61 (0) 405 555 618
[email protected]