Advance Metals Targets Over 100Moz AgEq Resource Upgrade Across Three Mexican Projects

Strategic Expansion in Mexico’s Sierra Madre Belt

Advance Metals Limited has announced a significant step forward in its Mexican silver-gold portfolio, targeting the conversion of substantial Foreign Estimates into JORC-compliant mineral resources. This move follows the company’s recent acquisition of the Guadalupe y Calvo Project, which, combined with its existing Yoquivo and Gavilanes assets, positions Advance as a major player in the prolific Sierra Madre Volcanic Belt.

The combined portfolio boasts an endowment exceeding 100 million ounces of silver-equivalent, supported by an extensive dataset of approximately 112,000 metres of diamond drilling. This robust foundation underpins Advance’s confidence in upgrading these Foreign Estimates; currently not compliant with the Australasian JORC Code; into formal, market-recognised resources.

Unlocking Value Through Sequential Resource Upgrades

The company’s technical team is prioritising a sequential upgrade approach across its three projects. At Guadalupe y Calvo, the Foreign Estimate includes both Indicated and Inferred categories based on over 217 surface holes, with a focus on the Rosario and Nankin vein structures. Advance plans to refine the split between open pit and underground resources, update cut-off grades, and incorporate recent metallurgical test work to enhance resource confidence.

Yoquivo, acquired in late 2024, presents a compelling opportunity following a maiden drilling program completed earlier this year. The project’s existing Foreign Estimate is entirely Inferred and based on a high cut-off grade, but recent drilling has uncovered broad zones of mineralisation not previously sampled. The company is actively processing this unsampled core, which could materially increase the resource base once assays are returned.

Meanwhile, at Gavilanes, the company is developing follow-up drilling and exploration programs to revisit geological models and metal equivalency assumptions. The existing Foreign Estimate here is also Inferred and supported by historic drilling, with plans to update metal price parameters and potentially expand the resource footprint.

Implications for Advance Metals and Investors

By targeting JORC-compliant resource upgrades, Advance Metals aims to enhance the transparency and credibility of its mineral assets, a critical step for attracting investment and advancing project development. The Sierra Madre Belt’s reputation as a world-class mining region adds strategic value to the company’s holdings, while the scale of drilling data and recent acquisitions signal a robust growth trajectory.

However, it is important to note that Foreign Estimates carry inherent uncertainty, and conversion to JORC Resources depends on further evaluation and exploration outcomes. The pending assay results from unsampled core at Yoquivo, in particular, will be closely watched by the market as they could significantly influence resource estimates and project economics.