Advance Metals spinning the bit at Gavilanes silver project in Mexico

• Maiden exploration program underway at Gavilanes
• Targeting extensions to high-grade system ahead of a planned JORC resource upgrade
• Maiden program expected to include up to 4,500m of diamond drilling
• Historic drilling intersected strong silver mineralisation at shallow depths

Advance Metals (ASX: AVM) has kicked-off diamond drilling at the Gavilanes silver project in Mexico in the lead-up to a planned resource upgrade later in 2026.

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The diamond drilling program is the first on-ground exploration undertaken by the company at Gavilanes since its acquisition last year.

The project hosts an existing foreign estimate comprising 2.83 million tonnes (Mt) at 246 grams per tonne (g/t) silver equivalent (AgEq), containing 22.4 million ounces silver equivalent.

A total of 48 diamond holes for 9,667.9m were used in the foreign estimate, extending over a general north-south trend of more than 700m.

MD and CEO Dr Adam McKinnon said high-grade mineralisation remains open at depth and along strike in multiple directions.

“The commencement of drilling at Gavilanes is an important milestone for Advance and represents the next phase of our Mexican silver growth strategy,” Dr McKinnon said.

“Following the successful delivery of our maiden 33 million ounce silver equivalent JORC resource at Yoquivo, we are now applying the same disciplined and systematic approach at Gavilanes, combining targeted diamond drilling with a review and sampling of historic core to unlock value from another high grade Mexican silver system.”

Dr McKinnon noted Gavilanes already hosts substantial high-grade foreign estimate and previous drilling had returned exceptional silver grades from shallow depths.

“Our maiden program is designed to test extensions to the known mineralisation, assess new discovery targets and generate the data required to support a planned JORC Resource upgrade later this year.

“With drilling now underway and additional historic core sampling planned, Gavilanes has the potential to deliver strong news flow as Advance continues to build a focused precious metals portfolio across Mexico and Australia.”

While the majority of the drilling will be focussed on extending high-grade mineralisation associated with the existing foreign estimate both down dip and along strike, the program will also test priority targets at the peripheral El Nopal prospect to the southeast and at the La Cruz and La Tuna prospects to the west.

AVM is up 1.16% to 8.7¢. Mkt cap $41.17M.

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