- Diamond drilling has commenced at Advance Metals' Gavilanes Silver Project in Mexico, with plans for up to 4,500 metres across 15-18 holes
- The project currently hosts a Foreign Estimate of 22.4Moz AgEq at 246g/t AgEq, with previous drilling revealing strong silver mineralisation over 700 metres
- First drill hole GV-26-001 targets mineralisation west of previous high-grade intersection SCHN-12, which yielded 6.3 metres at 2,016g/t Ag
- Programme includes drilling at El Nopal, La Cruz and La Tuna prospects to identify additional mineralised zones
- Results from new drilling and historic core sampling will support planned JORC Resource upgrade in 2026
Advance Metals Limited (ASX: AVM) has commenced diamond drilling at its 100%-owned Gavilanes Silver Project in Durango, Mexico, marking the launch of the Company’s maiden on-ground exploration program at the asset.
The program is expected to include up to 4,500 metres of diamond drilling across 15 to 18 holes and is designed to test depth and strike extensions to the existing high grade silver system, which hosts a Foreign Estimate of 22.4Moz AgEq at 246g/t AgEq.
Gavilanes is the next priority asset in Advance’s Mexican silver growth strategy, following the recent delivery of a 33Moz AgEq JORC Mineral Resource Estimate at the Company’s Yoquivo Project.
Previous drilling at Gavilanes intersected strong silver mineralisation at shallow depths over a trend of more than 700 metres, including:
• SCHN-12: 6.3 metres at 2,016g/t Ag from 77.2m
• SCGP-22: 3.3 metres at 2,540g/t Ag from 109.8m
• SCHN-05: 3.8 metres at 988g/t Ag from 57.7m
• SCHN-04: 6.9 metres at 583g/t Ag from 50.6m
Advance’s first diamond drill hole at Gavilanes, GV-26-001, commenced earlier this week and will target mineralisation down dip to the west of SCHN-12. Previous assay data from SCHN-12 recorded shallow, contiguous mineralisation over a down hole zone exceeding 80 metres, including narrower high grade intersections of 7 metres at 507g/t Ag, 6.3 metres at 2,016g/t Ag and 4.3 metres at 1,279g/t Ag.
While most of the program will focus on extending high grade mineralisation associated with the existing Foreign Estimate, drilling is also planned at the El Nopal prospect to the southeast and the La Cruz and La Tuna prospects to the west. These targets provide potential to identify additional mineralised zones beyond the current Foreign Estimate.
Advance has also identified previously unassayed historic core from Gavilanes, which will be sampled as part of a low cost data generation workstream. Results from the new drilling and historic core sampling are expected to support a planned Gavilanes JORC Resource upgrade later in 2026.
Commenting on the commencement of diamond drilling at Gavilanes, Advance’s Managing Director & CEO Dr Adam McKinnon said:
“The commencement of drilling at Gavilanes is an important milestone for Advance and represents the next phase of our Mexican silver growth strategy.
“Following the successful delivery of our maiden 33Moz AgEq JORC Resource at Yoquivo, we are now applying the same disciplined and systematic approach at Gavilanes, combining targeted diamond drilling with a review and sampling of historic core to unlock value from another high grade Mexican silver system.”
“Gavilanes already hosts a substantial high grade Foreign Estimate and previous drilling has returned exceptional silver grades from shallow depths. Our maiden program is designed to test extensions to the known mineralisation, assess new discovery targets and generate the data required to support a planned JORC Resource upgrade later this year.”
“With drilling now underway and additional historic core sampling planned, Gavilanes has the potential to deliver strong news flow as Advance continues to build a focused precious metals portfolio across Mexico and Australia.”
Advance’s Mexico team has spent the past month establishing access and constructing drill pads across the initial priority target areas to support the efficient rollout of the program.
The Company said the program is expected to provide strong news flow as Advance progresses its strategy to grow and upgrade a focused precious metals portfolio across Mexico and Australia.
About us:
About Advance Metals
Advance Metals Limited (ASX:AVM) is an Australian-based exploration company focused on the discovery and development of high-quality, high-grade silver and gold assets in Mexico. With an experienced management team and a strategy underpinned by aggressive exploration and strategic growth, the Company is positioned to become a significant participant in the silver-gold sector.
Contact details:
Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+61 (0) 405 555 618
[email protected]
