Advance Metals Limited (ASX: AVM) | Strong Ag-Au-Cu Results from Third Gavilanes Drill Hole
Trading Titan | Advance Metals (ASX: AVM) | Gavilanes Silver Project Drilling Update
Advance Metals has released new drilling results from its 100%-owned Gavilanes Silver Project in Mexico, reporting what the company describes as its strongest combined silver-gold-copper interval at the project to date.
Drill hole GV-26-003 intersected two shallow high-grade silver zones near surface, returning 15.6 metres at 309 grams per tonne silver from 24 metres, including 3.4 metres at 569 grams per tonne silver, and 6 metres at 204 grams per tonne silver from 58.8 metres, including 1.2 metres at 548 grams per tonne silver. Below those zones, the hole intersected a broad polymetallic interval of 37.5 metres grading 83 grams per tonne silver, 0.8 grams per tonne gold, 0.6 percent copper, 0.6 percent zinc, and 0.3 percent lead.
The hole was planned to reach 350 metres but terminated at 243.2 metres after encountering a void, with mineralisation continuing to the end of the hole. The company states the deeper zone remains open to the east, along strike to the south and at depth.
The project currently carries a Foreign Estimate of 2.83 million tonnes at 246 grams per tonne silver equivalent containing 22.4 million ounces silver equivalent. The company states this is a Foreign Estimate and is not JORC compliant.
Assays from GV-26-004 are pending. GV-26-005 is currently being drilled. The company plans to continue drilling along up to 500 metres of the Descubridora structure and test the San Nicolas, El Nopal, and La Cruz/La Tuna target areas.
The primary milestone outlined by the company is a planned JORC Mineral Resource upgrade targeted for Q4 calendar year 2026.
Key things to watch are GV-26-004 assay results, progress from GV-26-005, and updates on the planned JORC Mineral Resource upgrade.
This episode is for information purposes only and does not constitute financial advice. Listeners should conduct their own research and consider their own financial circumstances before making any investment decision.