Advance Metals (ASX: AVM) has announced promising silver and gold results from the initial drill holes of its 3,000-metre maiden drilling campaign at the Yoquivo project in Mexico. The company is currently focused on exploring the Pertenencia prospect, which is estimated to contain 937,000 tonnes at 570 grams per tonne silver equivalent for a total of 17.23 million ounces of AgEq. Advance Metals is an Australian exploration company focused on discovering and developing mineral resources. The company’s projects include base metals and precious metals.
The company has completed seven drill holes to date, targeting extensions to previously identified high-grade zones. Recent results from three additional holes revealed broad zones of mineralisation. Highlights include an intersection of 23.83 metres at 85 grams per tonne silver equivalent, containing 48 grams per tonne silver and 0.5 grams per tonne gold, and another of 16.37 metres at 104 grams per tonne silver equivalent, containing 57 grams per tonne silver and 0.6 grams per tonne gold. Further assays include 21.17 metres at 55 grams per tonne silver equivalent (43g/t silver and 0.2g/t gold) from 162.93m.
Managing director Dr Adam McKinnon stated that the initial drilling results have demonstrated the significant upside potential of the Yoquivo project. He noted the surprisingly wide intersections in the first three holes, indicating a substantial volume of silver-gold mineralisation that is not currently accounted for in the existing foreign estimate. Dr McKinnon also highlighted that a significant portion of the historic drill core at Yoquivo remains unassayed, suggesting the full extent of the mineralised zones may not be fully recognised.
Drilling of the eighth hole is currently underway at the northern end of Pertenencia. Following this, the company plans to shift its focus to re-logging and sampling the historic core to further assess the project’s potential.
