- Record silver grade: GV-26-008 returned 1.0m at 4,120g/t Ag, the highest individual silver assay from Advance’s drilling at Gavilanes to date.
- Best zinc-lead hit yet: The same hole returned 5.3m at 36g/t Ag, 7.7% Zn and 6.3% Pb, the strongest zinc-lead intersection recorded at the project.
- System still growing: High-grade mineralisation remains open at depth and to the southwest, with drilling continuing and a maiden JORC Mineral Resource targeted for Q4 2026.
22 September 2026 – Perth, WA | Advance Metals (ASX: AVM) has extended the high-grade silver system at its 100%-owned Gavilanes Project in Mexico after drilling returned the highest individual silver assay from its program to date, alongside the strongest zinc-lead intersection encountered at the project.
The latest result came from hole GV-26-008, drilled beneath previously identified high-grade mineralisation at the Descubridora structure. The hole returned 4.6 metres at 945 grams per tonne silver, 1.4% zinc and 1.0% lead from 66.7 metres, including 1.0 metre at 4,120g/t silver, 5.7% zinc and 4.1% lead.
A deeper interval returned 12.0 metres at 21g/t silver, 3.8% zinc and 3.7% lead from 98.5 metres, including 5.3 metres at 36g/t silver, 7.7% zinc and 6.3% lead. Advance said the deeper interval represents the highest-grade zinc-lead intersection encountered at Gavilanes to date.
The result is significant because it both extends the known high-grade silver mineralisation below hole GV-26-004 and adds stronger zinc-lead mineralisation to the emerging polymetallic picture at Gavilanes. The mineralised system remains open at depth and to the southwest, while drilling is continuing to test further extensions.
Advance Managing Director and CEO Dr Adam McKinnon said:
“At over 4,000g/t silver, GV-26-008 returned the highest individual silver assay grade in Advance’s program to date and one of the best ever recorded at the project. The hole also returned the highest grade zinc-lead interval encountered at the Project to date, including 5.3 metres at 14% Zn+Pb - highlighting the potential for significant base metal credits as the mineralised footprint grows.”
“GV-26-008 has extended the high grade silver mineralisation below GV_26-004, with the system remaining open at depth and to the southwest. With assays now returned from eight holes and further drilling underway, each new result is improving our understanding of the scale, geometry and metal distribution within the Gavilanes system.”
Gavilanes is located in Mexico’s Sierra Madre Occidental Volcanic Belt, 23 kilometres from First Majestic Silver’s San Dimas operation. The project covers more than 136 square kilometres across 11 concessions and currently hosts a Foreign Estimate of 2.83 million tonnes at 246g/t silver equivalent, containing 22.4 million ounces of silver equivalent. The estimate is not compliant with the 2012 JORC Code and has not yet been classified as a Mineral Resource or Ore Reserve under that standard.
The latest drilling also strengthens evidence that Gavilanes contains more than a single silver-dominant zone. Previous holes returned copper, gold and silver mineralisation at depth, while GV-26-008 has now added stronger zinc and lead grades to the system. Advance said further drilling and metallurgical test work will be required to establish the continuity, geometry and recovery characteristics of the different mineralised zones.
Results from holes GV-26-005, GV-26-006 and GV-26-007 also identified gold-dominant mineralisation south of the main high-grade silver drilling. Among the stronger results, GV-26-007 returned 2.4 metres at 2.0g/t gold, 21g/t silver, 1.2% zinc and 2.2% lead from 14.4 metres, as well as 6.0 metres at 1.4g/t gold from 127.2 metres.
The latest assays add to a series of high-grade silver intersections from Advance’s maiden program, including 33.9 metres at 220g/t silver in GV-26-001, 15.6 metres at 309g/t silver in GV-26-003 and 13.2 metres at 311g/t silver in GV-26-004.
Metallurgical test work is now underway on both silver-dominant and polymetallic samples to assess potential recoveries of silver, gold, copper, zinc and lead. The results are intended to provide further information on the metallurgical characteristics of the mineralisation ahead of the planned maiden JORC Mineral Resource.
Drilling is continuing, with assays pending from GV-26-009, which is testing further westerly extensions of the high-grade system. Advance also plans to continue testing the Descubridora structure, commence drilling at additional priority targets including San Nicolas, complete metallurgical work and incorporate the results into a maiden JORC Mineral Resource targeted for the fourth quarter of 2026.
Contact details:
Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+ 61 (0) 405 555 618 [email protected]
Dr Adam McKinnon
Managing Director and CEO
Advance Metals Limited
+61 (0) 411 028 958 [email protected]
