Advance Metals Consolidates Mexican Portfolio with Guadalupe y Calvo Acquisition in Transformational Quarter

Advance Metals (ASX: AVM) has ruled off a milestone quarter that included the acquisition of the high-grade Guadalupe y Calvo (GyC) gold–silver project in Mexico, securing the right to earn-in to 100% ownership from Endeavour Silver Corp.

The deal elevates Advance’s total Mexican endowment to more than 100 million ounces silver equivalent (AgEq) across its three projects, reinforcing the company’s position in one of the world’s premier precious metal belts.

Managing director Dr Adam McKinnon said the transaction was “transformational for Advance,” adding that the project “provides scale, grade and growth potential within a globally recognised mining district.”

GyC Strengthens Mexican Holdings

Located in southern Chihuahua State within the Sierra Madre Occidental volcanic belt, the GyC project includes ten granted concessions covering 27.5 square kilometres.

The project area hosts more than 86,000 metres of historical drilling and an Indicated and Inferred foreign estimate of 9.5 million tonnes at 2.7 grams per tonne gold equivalent (AuEq) and 198g/t AgEq, containing 816,000oz AuEq and 60.6Moz AgEq.

Advance is now progressing government and community approvals to begin an extensive exploration and drilling program aimed at expanding the Rosario and Nankin vein systems, both of which remain open along strike and at depth.

Progress at Yoquivo Silver–Gold Project

Advance also completed its maiden 3,111-metre diamond drilling program at the Yoquivo silver–gold project in Chihuahua during the quarter, with final assays confirming multiple zones of high-grade mineralisation.

Highlight intercepts returned 7.6m at 116 g/t AgEq from 298.79m, including 4.9m at 544g/t AgEq with a sub-interval of 1.1m at 2,063g/t AgEq.

New regional mapping identified previously unmapped vein systems, with rock chip samples grading up to 1,594g/t AgEq, while a resampling initiative covering 6,351m of unassayed core has commenced to unlock further upside.

Gavilanes Project Fully Acquired

Additionally, Advance finalised its acquisition of the Gavilanes silver project in Durango from Sailfish Royalty Corp, positioning it alongside the company’s Chihuahua assets as a cornerstone of its Mexican portfolio.

The project – which has a foreign estimate of 2.83Mt at 245.6g/t AgEq for 22.4Moz contained AgEq – sits within the prolific San Dimas mining district, home to multiple large-scale operations.

Preparations are underway for an initial exploration campaign to test extensions of known vein systems and investigate additional untested mineralised zones identified through historical mapping.

High-Grade Results at Myrtleford Gold Project

In Victoria, Advance continued drilling at the Myrtleford project’s Happy Valley prospect, returning standout gold intersections including 9.4 metres at 18.6 g/t Au from 196.2 metres in one hole.

Screen fire re-analysis of earlier holes upgraded two of the highest-grade intervals by up to 29%, including 8.2m at 28.8g/t Au from 186m and 7.5m at 55g/t Au from 178.1 metres.

Post-quarter, the company logged visible gold in another hole 140m below all previous intersections, confirming the high-grade system’s vertical extent to more than 500m.

Corporate and Funding Update

Earlier this month, Advance secured $13 million in new funding via a two-tranche placement, with institutional and precious metals-focused funds including Jupiter Asset Management, Tribeca Investment Partners, Lowell Resources Fund, and APAC Resources showing strong support for the raising.

The placement ensures full funding for ongoing exploration in Mexico and Victoria, and leaves the company well positioned to accelerate drilling and project advancement across its portfolio.

Following the raising, Advance appointed David O’Connor as non-executive chair, with Craig Stranger transitioning to a non-executive director role.

The company has also established a Mexican advisory board featuring experienced mining professionals Douglas Coleman and Trevor Woolfe to guide development of the company’s Latin American assets.