Advance Metals has drilled four consecutive holes hitting high-grade silver at its Gavilanes Project in Mexico, extending the mineralised system 55 metres south and confirming significant exploration upside ahead of a maiden JORC resource due in Q4 2026.
- Fourth drill hole returns 13.2m at 311g/t silver including 6m at 612g/t
- Mineralisation remains open in all directions with broad high-grade zones
- Deeper polymetallic copper-gold-silver system identified beneath silver zones
- 136 sq km project area largely untested by modern drilling
- Maiden JORC Mineral Resource targeted for Q4 2026
Gavilanes Drilling Uncovers Expanding High-Grade Silver Corridor
Advance Metals (ASX:AVM) is rapidly establishing its 100%-owned Gavilanes Silver Project in Durango, Mexico, as a key growth asset after four diamond drill holes all returned broad zones of high-grade silver mineralisation. The latest hole, GV-26-004, delivered a standout 13.2 metres at 311 grams per tonne (g/t) silver, including 6 metres at an exceptional 612g/t, pushing the mineralised system 55 metres further south along strike.
This drilling success builds on earlier results from the program, with each hole intersecting substantial silver grades and confirming a continuous mineralised corridor extending over more than 750 metres. The mineralisation remains open up-dip, down-dip, and along strike, underscoring the potential scale of the system.
Polymetallic Potential Adds Depth to Exploration Upside
Beyond near-surface silver, the project has revealed a deeper polymetallic zone rich in copper, gold, and silver. Holes GV-26-002 and GV-26-003 intersected broad intervals including 54.6 metres at 0.6% copper, 22g/t silver, and 0.3g/t gold, and 37.5 metres at 83g/t silver with accompanying base metals. This vertically stacked mineralisation suggests a complex system with a silver-rich cap overlying a potentially larger copper-gold-silver target at depth.
Advance’s Managing Director Dr Adam McKinnon highlighted the significance of these findings, noting the combination of grade, scale, and exploration upside. He emphasised that the project area spans 136 square kilometres with multiple mapped vein systems, most of which remain untested by modern drilling. This presents a substantial opportunity to expand the known mineralised footprint well beyond the current drill-tested zones.
Strategic Location Near World-Class Silver District
Gavilanes lies just 23 kilometres from First Majestic Silver Corp’s San Dimas Mine, one of Mexico’s most prolific silver-gold districts, which has produced over 745 million ounces of silver and 11 million ounces of gold. The geological setting within the Sierra Madre Occidental Volcanic Belt is favourable for epithermal precious and base metal deposits, with mineralisation structurally controlled along rhyolite dikes and hydrothermal breccias.
The project hosts a Foreign Estimate of 22.4 million ounces silver equivalent at 246g/t AgEq, though this is not yet JORC-compliant and will require further drilling and evaluation. Advance aims to convert this into a maiden JORC Mineral Resource by the end of 2026, incorporating results from the ongoing drilling program.
Next Steps Focus on Resource Definition and Regional Testing
Assays are pending for the latest step-out holes GV-26-005 and GV-26-006, which represent the largest southern extensions drilled to date, located more than 100 metres beyond GV-26-004. These results will be critical to understanding the full extent of the mineralised system.
Advance plans to continue systematic drilling along the Descubridora structure over a potential 500-metre strike length and to test additional priority targets such as San Nicolas, El Nopal, and La Cruz/La Tuna within the project area. The company will also integrate new geological, structural, and assay data into an updated geological model while reviewing historic drill core to enhance resource confidence.
This drilling campaign will underpin the targeted maiden JORC Mineral Resource upgrade scheduled for Q4 2026, marking a major milestone for the project and the company’s Mexican growth strategy.
While the current results are promising, true widths of mineralisation remain uncertain, and the pending assays from southern step-outs could materially influence the scale and grade continuity of the system. Investors should watch closely for these assay releases and the forthcoming resource estimate to gauge the project's potential impact on Advance Metals’ valuation and development trajectory.
Bottom Line?
Advance Metals’ Gavilanes Project is shaping up as a significant silver discovery with high-grade continuity and polymetallic depth, but pending assays and resource classification will be crucial next milestones.
Questions in the middle?
- Will the pending assays from GV-26-005 and GV-26-006 confirm further southern extensions of the high-grade system?
- How will the polymetallic copper-gold-silver zone at depth influence future exploration and resource modelling?
- Can Advance Metals leverage the large, underexplored 136 sq km tenure to identify additional high-grade vein systems beyond Descubridora?