Advance jags broad zone, high-grade silver in Mexico
Brought to you by BULLS AND BEARS
Murray Region
Advance Metals has jumped out of the blocks in Mexico, returning 33.9 meters of high-grade silver mineralization with the first diamond drill hole in the first program at its wholly owned Gavilanes project.
The cap intercept of the drilled hole was 220 grams per tonne (g/t) silver from the 117.6 meter well. This hit also featured a rich 6.2-metre slice that graded a mouth-watering 718 g/t silver from 133 metres.
It is noteworthy that deeper sections of the same hole also provide increased gold and base metal values. A span of 164.6 meters to 3.3 meters used 270 g/t silver, 0.2 g/t gold, 0.7 per cent copper, 0.7 per cent lead and 1.1 per cent zinc, demonstrating significant polymetallic potential.
This polymetallic picnic basket is anchored with an even sweeter 1.65m inner core of 394g/t silver, 0.4g/t gold, 1.1 per cent copper, 1.1 per cent lead and 1.7 per cent zinc from 166.25m.
‘This is an excellent first result from our first drilling programme.’
Advance Metals general manager and chief executive officer Dr. Adam McKinnon
Laboratory assay results are currently pending for the second diamond hole of the program, which was completed to a depth of 291 m to test the southern extensions of the known mineralized footprint. Meanwhile, a third expansion diamond hole remains active in the same drilling section.
Advance Metals general manager and chief executive officer Dr. Adam McKinnon said: “This is an excellent first result from our first drilling program at Gavilanes and provides early validation of the strategy we outlined when drilling began in May. GV-2c-001 intersected a broad zone of high-grade silver mineralisation, including approximately 2m at 718 g/t Ag, in an area where we targeted extensions of the known high-grade system.”
Advance’s field campaign aims to significantly expand the existing system at Gavilanes, which currently hosts a significant historical foreign estimate of 22.4 million silver equivalent ounces at an average grade of 246 g/t silver equivalent.
Management said today’s initial drilling success is expected to support the comprehensive JORC resource upgrade targeted for the final quarter of this year.
The impressive first result follows a highly successful drilling campaign at Advance’s Yoquivo project in nearby Chihuahua. The company’s latest exploration push doubles the project’s endowment to 33 million silver equivalent ounces.
Advance has also recently consolidated full ownership of its high-grade Victorian gold assets to complement its valuable multi-commodity pipeline.
Vic’s footprint includes the Happy Valley deposit within the Myrtleford project; previous drilling produced an outstanding bonanza grade hit of 7.5m at 55g/t gold from 178.1m; This includes a 1.3m ultra-high-grade tranche at an eye-catching 305.8g/t gold.
Metallurgical testing at Happy Valley yielded premium gravity gold recovery of up to 96 percent.
The next steps for the company will see technical teams continue to drill the wider exploration network of up to 18 holes across 4,500 meters of drilling at Gavilanes. At the same time, management plans to selectively resample historical drill cores to collect low-cost geological data and improve the field model.
To finalize the immediate exploration program, the company will test priority targets outside the current resource to evaluate the scale potential of the Gavilanes system.
With the drill bit producing top-notch results on the first try and more test results on the way, Advance could be on its way to opening the door to a major multi-product system in Mexico.
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