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Advance Metals (ASX:AVM) has identified significant upside at its Yoquivo silver-gold project in Mexico with a successful examination of historic drill core. The studies have highlighted exceptionally broad intersections of contiguous, moderate-grade mineralisation emerging from the existing drilling in the central portion.
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Disclaimer: This content has been prepared as part of a partnership with Advance Metals Ltd and is intended for informational purposes only.
“The extensive, low-cost historic core sampling we’ve undertaken at Yoquivo has been proven to be extremely successful,” Advance’s managing director and chief executive, Dr Adam McKinnon, told shareholders today.
“We’ve now identified multiple zones of previously unrecognised silver and gold mineralisation in the Pertenencia area… without having to complete any new drilling.
“Most importantly,” he continued, “the change to universal rather than selective sampling has seen numerous exceptionally large zones of contiguous mineralisation emerge in the central portion of the deposit.”
The company will now combine the historic core sampling and recent drilling results to formulate an upgraded JORC resource later this month.
“This will give us not only an opportunity to explore an expanded high-grade underground resource scenario but also the potential of a high tonnage open-pitable resource scenario, similar to Agnico Eagle’s, [which is] nearby Pinos Altos Mine, some 26 kilometres to the northwest,” Dr McKinnon declared.
The initial sampling has focused on an area hosting the existing non-JORC resource estimate at Yoquivo of 17.23M ounces of contained silver-equivalent at 570 g/t. The core program tested the potential of previously unassayed historic core Yoquivo, with approximately 5,000m of sampling to date.
Advance has now also received assay results for 3,516m of the previously unsampled core, with at least 519m containing elevated silver and/or gold.
Testing has seen additional high-grade intervals of approximately 100 grams per tonne silver equivalent returned from 13 separate holes. In combination with the original assays, the new sampling has seen exceptionally broad intersections emerging from the existing drilling in the deposit’s central portion.
Meanwhile, Advance’s regional exploration and resource expansion drilling campaign is continuing at Yoquivo, with results currently pending for multiple holes.
AVM is down -12% and trading at 11c to Friday’s close.
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Disclaimer: The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
