Advance Metals kicks off diamond drilling at Gavilanes targeting JORC upgrade

Diamond drilling begins at high-grade Gavilanes

Advance Metals Limited (ASX:AVM) has taken a significant step in its Mexican silver strategy by commencing a maiden diamond drilling program at its 100%-owned Gavilanes Silver Project in Durango. The campaign aims to test extensions to a high-grade silver system that has previously delivered spectacular drill intersections, including 6.3 metres at 2,016g/t silver from 77.2 metres and 3.3 metres at 2,540g/t silver from 109.8 metres.

The upcoming program, comprising up to 4,500 metres across 15 to 18 diamond holes, will focus on expanding mineralisation both down dip and along strike of the existing Foreign Estimate, which currently stands at 2.83 million tonnes at 246g/t silver equivalent (AgEq), equating to 22.4 million ounces AgEq. This estimate, derived from 48 historic holes totalling nearly 9,700 metres, remains open in multiple directions but is not yet compliant with the Australasian JORC Code.

Historic data and resampling to underpin JORC upgrade

Advance is not only drilling new holes but also planning a targeted resampling of unassayed historic core identified during a recent review. This approach mirrors the successful strategy employed at the company's Yoquivo Silver-Gold Project, where a recent 33Moz AgEq JORC Mineral Resource Estimate was delivered following extensive core sampling and drilling. The new data from Gavilanes is expected to support a planned JORC Resource upgrade later in 2026, potentially unlocking significant value from the project.

Dr Adam McKinnon, Managing Director and CEO, emphasised the importance of this phase: "Our maiden program is designed to test extensions to the known mineralisation, assess new discovery targets and generate the data required to support a planned JORC Resource upgrade later this year." The program also includes drilling at peripheral targets such as the El Nopal, La Cruz, and La Tuna prospects, which could reveal additional mineralised zones beyond the current estimate.

Strategic momentum in Mexican silver portfolio

The Gavilanes project represents the next priority asset in Advance's Mexican silver growth story, following the recent delivery of the 33Moz AgEq JORC Resource at Yoquivo, which has positioned the company as a notable player in the region’s silver sector. The ongoing drilling and sampling at Gavilanes complement the company’s broader strategy to build a focused precious metals portfolio across Mexico and Australia.

The current drilling targets include extensions near historic hole SCHN-12, which showed contiguous mineralisation over 80 metres down hole, with multiple high-grade intervals. The company’s Mexican team has been preparing the site with drill pad construction and access establishment to ensure efficient operations.

With assay results pending, the market will be closely watching how the Gavilanes program unfolds, especially given the strong precedent set by recent 33Moz silver-equivalent JORC resource success at Yoquivo and the ongoing broad high-grade silver-gold zones reported there earlier this year.