Advance Metals collects cheap silver and gold from untested core in Mexico
- Andrew Todd
- 4 hours ago
- 2 min read
Advance Metals (ASX: AVM) has delivered high-grade gold and silver from a low-cost resampling blitz at its Yoquivo project in Mexico, pulling from some 6300m of untested core that previous owners never bothered to cut.
The company says its first batch of results from 11 holes has already confirmed new zones missed by patchy legacy sampling.
Standout intercepts include a 2.05m hit grading an impressive 480 grams per tonne (g/t) silver equivalent from 135m in an interval previously unreported and a nearby hit of 4.45m at 115g/t silver equivalent from 119m.
Advance says that multiple follow-up batches from central and northern Pertenencia are already in the assay queue, with confidence growing on its decision to resample the historic core.
The new data dovetails with Advance’s own recent 3111m program that closed with a 1.11m hit running an epic 2063g/t silver equivalent at a 60-70m down-dip step-out from historic resources.
Combining the untested core and the assays will refresh the geological model and feed straight into the company’s ongoing JORC resource upgrade scheduled for first quarter of next year.
The company says a diamond rig is trucking to site this week, with initial holes to chase down-plunge and along-strike extensions from its southern high-grade shoots.
The high-grade silver and gold mineralisation encountered in this first batch from the southern part of Pertenencia represent only a tiny portion of the material we are planning to re-log and sample, and I’m very much looking forward to what else might be present in these samples.
Advance Metals Managing Director Dr Adam McKinnon
The Yoquivo foreign estimate still only stands at 937,000 tonnes grading a considerable 570g/t silver equivalent for 17.23 million ounces.
The company says its Pertenencia vein at Yoquivo runs inside a 27.5 square kilometre concession package in the heart of the world-class Sierra Madre epithermal belt, 245km southeast of its Guadalupe y Calvo gold-silver project and 300km southwest of its Gavilanes gold-silver project – the other two legs of Advance’s Mexican silver tripod.
Across the portfolio the foreign estimates stack to more than 100 million ounces, with a further 60.6Moz at Guadalupe y Calvo and 22.4Moz at Gavilanes.
The company has flagged a stretch target to double that into its JORC ounces over the next 18 months with silver and gold prices both sitting near all-time highs after a historic 2025 run.
Mexico remains the world’s top primary silver producer, pumping out roughly 190 million ounces annually.
Following the confirmation of historically overlooked mineralisation in core, the company will throw itself headlong into further core cutting with more resampling batches due weekly to close out 2025.
The company’s is also eyeing off a fresh exploration drive on the homefront at its Myrtleford gold project in Victoria, where it is looking to put its recent $13 million placement to work, following last month’s visible gold intersections below 500m vertical depth at its emerging Happy Valley trend.
Advance says a second rig is booked for mid-November to test the un-drilled Queen of the Hills target 2km along strike from Happy Valley, within its 13km of mineralised corridor inside Australia’s historic Lachlan Fold Belt.
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