Advance Metals Returns Strong Silver-Gold Results from Maiden Drilling at Yoquivo Project in Mexico

Advance Metals (ASX: AVM) has returned strong silver-gold results from initial holes of its 3,000-metre maiden campaign at the high-grade Yoquivo project in Mexico.

The company is currently exploring the project’s Pertenencia prospect, which hosts a foreign estimate of 937,000 tonnes at 570 grams per tonne silver equivalent for 17.23 million ounces AgEq.

Advance has so far completed a total of seven holes, targeting down-dip and along-strike extensions to high-grade zones previous drilling at the site had defined.

Drilling Results

Advance reported last month that the first drill hole returned intervals of 3.55m at 249g/t AgEq, 4.42m at 676g/t AgEq and 40.57m at 105g/t AgEq.

New results for a further three holes have returned strong and broad zones of mineralisation in multiple areas with highlights of 23.83m at 85g/t AgEq (48g/t silver and 0.5g/t gold from 99.97m) including 8.84m at 140g/t AgEq (72g/t silver and 0.9g/t gold from 111.77m) and 16.37m at 104g/t AgEq (57g/t silver and 0.6g/t gold) from 133.23m, including 3.07m at 203g/t AgEq (111g/t silver and 1.2g/t gold from 135.84m).

Other best assays were 21.17m at 55g/t AgEq (43g/t silver and 0.2g/t gold) from 162.93m including 1.66m at 155g/t AgEq (146g/t silver and 0.1g/t gold) from 178.55m and 4.04m at 121g/t AgEq (108g/t silver and 0.2g/t gold) from 189.74m including 0.41m at 495g/t AgEq (365g/t silver and 1.1g/t gold) from 189.74m.

One of the holes returned a broad zone of mineralisation from 30m below surface, with narrower high-grade zones further down-hole and a best assay of 17.5m at 111g/t AgEq (81g/t silver and 0.4g/t gold) from 30.2m including 1.14m at 248g/t AgEq (193g/t silver and 0.7g/t gold) from 33.55m and 1.68m at 385g/t AgEq (272g/t silver and 1.5g/t gold) from 40.32m.

Upside Potential

Managing director Dr Adam McKinnon said maiden drilling had demonstrated Yoquivo’s significant upside potential.

“We have been pleasantly surprised by wide intersections in the first three holes, which represent a very significant volume of silver-gold mineralisation not currently captured by the narrow foreign estimate footprint,” he said.

“Our technical team has also identified that a significant portion of the historic drill core at Yoquivo remains unassayed, suggesting that the full extent of some of these broad mineralised zones may not have been recognised.”

Dr McKinnon said drilling of the eighth hole at the northern end of Pertenencia was now in progress; after which the diamond rig would shift focus to re-logging and sampling of the historic core.