Advance Metals Plans $13M-Funded Drilling to Double Silver-Gold Resources
Advance Metals has unveiled an ambitious growth strategy to double its silver-equivalent resource base in Mexico to over 200 million ounces, backed by fresh funding and a suite of exploration initiatives across three high-grade projects.
- Current silver-equivalent endowment exceeds 100Moz across three Mexican projects
- New exploration programs including diamond drilling and LiDAR surveys approved
- Recent $13 million placement strengthens funding for accelerated growth
- Focus on converting Foreign Estimates to JORC-compliant resources
- Drilling to commence late 2025 through early 2026 at Yoquivo, Guadalupe y Calvo, and Gavilanes
Strategic Expansion in Mexico
Advance Metals Limited (ASX – AVM) has set its sights on a significant expansion of its silver-gold portfolio in Mexico, targeting a medium-term resource endowment exceeding 200 million ounces silver-equivalent (AgEq). This bold ambition follows the recent acquisition of the Guadalupe y Calvo Project, which, combined with the existing Yoquivo and Gavilanes assets, brings the company's total Foreign Estimates to over 100Moz AgEq in the prolific Sierra Madre Occidental Volcanic Belt.
While these figures are currently classified as Foreign Estimates and not yet compliant with the Australasian JORC Code, Advance Metals is actively working to convert these into JORC-compliant Mineral Resources through a series of planned exploration activities.
Accelerated Exploration Programs
The company’s board has greenlit immediate exploration programs across all three projects. These include high-resolution airborne LiDAR surveys covering a combined 10,000 hectares, designed to provide detailed geological and structural data to refine drill targeting. Diamond drilling is set to recommence imminently at Yoquivo, focusing on extensional targets and newly identified high-grade veins that have returned surface rock chip grades as high as 1,594g/t AgEq.
At Guadalupe y Calvo, Advance is progressing government and community approvals to begin drilling early in the first quarter of 2026, with initial efforts targeting extensions of high-grade mineralisation along the Rosario Vein. Meanwhile, Gavilanes, the largest and least explored of the three projects, will see mapping and sampling activities ramp up ahead of its maiden drilling campaign planned for the first half of 2026.
Strong Financial Backing and Infrastructure
Supporting this aggressive growth strategy is a recently completed $13 million placement, anchored by leading global institutional investors. This capital injection positions Advance Metals well to execute its exploration plans without delay. The company has also established a centrally located core storage and processing facility in Durango, Mexico, and assembled an experienced in-country technical team, underscoring its commitment to operational efficiency and local engagement.
Outlook and Market Implications
Advance Metals’ strategy to double its silver-gold endowment in Mexico is ambitious but grounded in tangible assets and a clear operational roadmap. The conversion of Foreign Estimates to JORC-compliant resources will be a critical milestone, potentially unlocking significant value for shareholders. However, the aspirational nature of the 200Moz target and the inherent uncertainties in exploration outcomes mean investors should watch closely for assay results, regulatory approvals, and progress updates over the coming months.
Bottom Line?
Advance Metals’ next phase of drilling and data collection will be pivotal in validating its ambitious growth targets and shaping its market trajectory.
Questions in the middle?
- How soon can Advance Metals convert its Foreign Estimates into JORC-compliant Mineral Resources?
- What will initial assay results from the new drilling programs reveal about the grade and extent of mineralisation?
- How will community and government approvals impact the timeline for drilling at Guadalupe y Calvo?
