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Advance Metals (ASX:AVM) has recommenced its drill run on-site the Mexico-based Yoquivo silver & gold project where the bits are now spinning once again, targeting lateral and depth extensions to pockets of known mineralisation that underpin a foreign estimate – not JORC-compliant – of 17.2Moz silver equivalent.
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Described as high-grade, the project is located in Mexico’s Chihuahua region, familiar to miners; as part of Advance’s latest drill run on-site, the company will also be sniffing out newly discovered targets including some identified through veining where rock-chip samples came back up to 1,590g/t AgEq.
While rock chips don’t guarantee further mineralisation underground, the high grades do point towards what is obviously a compelling target for the company’s geotechs (and shareholders.)
Silver recently breached US$50/oz while gold continues to flirt with levels closer to US$4,100/oz, and in the former’s case, it’s basically an upside contagion effect on the back of gold prices; right now, the price charts for both metals are highly correlated. Higher commodity prices improve project economics that underpinned the foreign estimate at Yoquivo completed by former owners in 2022; since then, a lot has changed.
The drill run kicked off today is to extend into early 2026 for the collection of 3,000m of core equivalent. With a view towards the company still using numbers generated in 2022; drilling and historic core re-sampling is going to be combined in a bid to update the geological model for Yoquivo and bring a JORC-compliant MRE to the fore heading into the thick of 2026.
AVM last traded at 8.2cps.
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Disclaimer: HotCopper had a commercial relationship with AVM at the time this article was crafted and published.
