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Doug Bright
Advance Metals has completed five diamond drill holes across three targets at its high-grade silver-gold project in Mexico, targeting extensions to known mineralisation and new prospects, with assays pending.
The fully funded program builds on earlier results obtained throughout the year that have already confirmed the system’s depth potential, with assays from all five holes pending.
At the company’s Pertenencia prospect, two deep holes have tested down-dip extensions below the existing 17.23-million-ounce foreign resource estimate grading 570 grams per tonne (g/t) silver equivalent.
The first 402-metre deep hole probed the central part of that resource envelope, 20m above its lowest boundary. In comparison, the following 500-metre hole tested about 150m below all previous intercepts within the same envelope and well below its interpreted lower boundary.
Previous drilling at Pertenencia has produced several highlight intercepts, including one hole that cored out 4.87m at 544g/t silver equivalent. A second hole delivered 4.42m at 446g/t silver equivalent, while a third produced 3.07m at 203g/t silver equivalent.
Advance is now planning additional drilling early next year to the north and south along parts of the 1800m-long strike trend of the Pertenencia structure.
A further two holes, 237m and 235m deep, were completed at the company’s San Francisco vein structure, which sits 400m northwest of and parallel to Pertenencia, with a defined north-northeasterly strike length of at least 1100m.
A fifth 239m-deep hole was put into the 400m-long La Esparanza vein, which roughly parallels but lies about 2700m west-north west of Pertenencia.
Advance says drilling will continue into 2026 and will include an inspection of the newly-discovered high-grade vein systems southeast of the Dolar system, between the La Esparanza and San Francisco vein systems, where earlier surface sampling returned startling grades of up to 1594g/t silver equivalent.
In separate related work, Advance is close to completing an extensive resampling program comprising more than 4000m of previously unassayed historic core from Pertenencia. Initial results have confirmed strong upside, with grades up to 848g/t silver equivalent.
Including the new drill cores, a total of 4500 samples are now waiting on assays. Recent high silver and gold prices have resulted in extended laboratory turnaround times, however, most results are expected from about mid-January.
The company has also completed a high-resolution airborne LiDAR (light detection and ranging) survey, with data processing ongoing.
LiDAR can create highly detailed 3D models as point clouds of terrain and objects, and is ideal for mapping dense vegetation, infrastructure, mining, and complex sites where conventional surveying can sometimes struggle.
Since the existing Pertenencia resource is a non-JORC foreign estimate, all drilling and resampling results will be used to refine the geological model and underpin a maiden JORC-compliant resource estimate, targeted for completion early next year.
As Advance Metals continues its aggressive exploration at Yoquivo, the project could be set for significant resource growth amid current strong precious metals markets.
The punters are likely to be laser-focused ahead of the upcoming assays from the ongoing diamond drilling and the imminent JORC-compliant resource update.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
