Final resource extension holes Advance Metals (ASX: AVM) has completed at the central Pertenencia area of its Yoquivo project in Mexico have returned multiple zones of very high-grade silver-gold mineralisation that the company expects will support a maiden JORC mineral resource estimate.
The assays demonstrated the broad and vertically-extensive nature of mineralisation and strengthened confidence in the continuity, grade tenor and potential scale of discovery at the prospect.
Drilling intersected numerous high-grade intervals over a down-hole zone more than 230 metres deep, with best assays of 48.4m at 148 grams per tonne silver equivalent (AgEq) including 0.45m at 1,000g/t, 4.4m at 587g/t and 2.4m at 481g/t, 6.5m at 244g/t AgEq including 1.3m at 1,103g/t, and 1.2m at 621g/t AgEq including 0.3m at 2,180g/t.
Very high-grade mineralisation was also intersected at a hole targeting a sparsely drilled portion of the existing foreign estimate for the central-northern part of Pertenencia, where highlight assays were 9.4m at 633g/t AgEq including 3.23m at 1,411g/t, and 7.85m at 104g/t AgEq including 1.85m at 241g/t.
Maiden JORC Estimate
The current phase of resource extension and regional drilling at Yoquivo is now complete, with Advance’s technical team highly encouraged by the grade tenor and extensive nature of the mineralisation intersected.
The company will incorporate the new results into an updated mineral resource estimate for Yoquivo, expected within the coming weeks.
The estimate will mark the first resource reported in accordance with the JORC code and represents an important milestone in the project’s advancement.
Work will also commence shortly on programs aimed at defining a maiden mineral resource for the nearby Gavilanes silver project.
‘Substantial Down-Hole Zone’
Advance managing director Dr Adam McKinnon said the final holes represented an “excellent result” to complete the current phase of drilling.
“We were able to demonstrate the strength of the Pertenencia system over a substantial down-hole zone of more than 230m and return exceptional high-grade results in another area with relatively limited drilling,” he said.
“These results increase our confidence ahead of delivering Yoquivo’s first JORC mineral resource estimate as we continue to advance this project as a high-grade silver-gold asset at a proven mining region in Mexico.”
The company now plans to undertake a technical review of the completed drilling program to guide next-stage exploration and MRE growth.
