Advance Metals extends high-grade silver, gold in Mexico
- Doug Bright
- Aug 15
- 2 min read
Advance Metals (ASX: AVM) has hit 1.11 metres at 2063 grams per tonne (g/t) silver equivalent to extend high-grade silver-gold mineralisation 60-70m down-dip in its final drill holes recently completed at its Yoquivo project in Mexico.
Strong results from the final four holes in the company’s maiden diamond drilling program at the Yoquivo silver-gold project in southwestern Chihuahua reinforce the project’s high-grade potential.
The 3111.4m program targeted the extensive Pertenencia vein building on an impressive, non-JORC compliant foreign estimate of 937,000 tonnes at 570g/t silver equivalent for 17.23 million ounces.
One hole drilled in the lower northern portion of the Pertenencia Vein, intersected 7.6m at 116g/t silver equivalent – equating to 69g/t silver and 0.6g/t gold - from 298.79m, including 0.54m at 361g/t silver equivalent and 4.87m at 544g/t silver equivalent from 310.76m, with a peak interval of 1.11m at 2063g/t.
The hole’s best grade was picked up within discrete silver-bearing sulphide veins that delivered a 0.59m interval assaying a whopping 2584g/t silver equivalent from 312.38m.
The very high-grade results of up to 2584g/t silver equivalent in diamond hole YQ-25-007 were exactly what we were hoping to see from our maiden program at the Yoquivo project.
Advance Metals Managing Director Dr Adam McKinnon
McKinnon said that, importantly, the intersection’s position at the base of Pertenencia’s existing foreign estimate extends high-grade mineralisation down-dip by at least 60 to 70m and bodes very well for future potential resource extensions.
Three scoping holes drilled north of the foreign resource estimate also hit narrow, high-grade structures and confirm mineralisation continuity.
Intercepts include 0.9m at 418g/t silver equivalent and 0.3m at 649g/t silver equivalent in hole YQ-25-005, 0.33m at 397g/t silver equivalent in hole YQ-25-006, and 2.02m at 173g/t and 1.75m at 240g/t silver equivalent in hole YQ-25-008.
The foreign resource estimate has not yet been classified as a JORC-compliant mineral resource. However, as Advance continues updating its geological model to guide further exploration and undertakes further testwork and evaluation, the results will become integral to an updated JORC-compliant resource estimate.
The Yoquivo silver equivalent was derived based on initial flotation and leaching test work conducted by former owner Golden Minerals in 2022. Advance acquired the project in November last year.
The silver equivalent formula takes into account the grams per tonne silver and gold, and their respective prices, in this case, assuming very conservative prices of US$1860 (A$2860) per ounce gold and US$24 (A$37) per ounce silver. Gold is currently fetching US$3335 per ounce, and silver US$38 per ounce.
Advance assumes it can achieve 85 per cent gold and silver recoveries based on the test work and believes all the gold and silver included in the metal equivalent calculations could reasonably be recovered and sold.
The exceptional high-grade silver-gold intersections at Yoquivo underscore the project’s robust resource potential, with mineralisation open at depth.
Advance Metals is poised to deliver a JORC-compliant resource estimate, further unlocking the value of this promising Mexican asset.
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