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Advance Metals (ASX:AVM) says it’s now all set and ready for an upcoming resource update at the Yoquivo silver-gold project over in Chihuahua, after hauling in “exceptional” high-grade intercepts from final drill holes.
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The standout last results from the Mexico drilling are now expected to underpin the project’s update, which will be delivered “in coming weeks.”
“These final holes represent an excellent result to complete the current phase of drilling at Yoquivo and provide further evidence of the continuity, grade, and growth potential of mineralisation in the Pertenencia area,” Advance’s managing director and CEO, Adam McKinnon, told shareholders today.
McKinnon added Advance has increasing confidence in how well it will go. “In particular,” he said, “YQ-26-020 demonstrates the strength of the system over a substantial downhole zone of more than 230m; YQ-26-021 has returned an exceptionally high-grade zone in an area with relatively limited drilling.”
Latest assays highlighted extensive mineralisation in those two diamond drill holes. Hole YQ-26-020, designed to test depth extensions in the central Pertenencia area, intersected multiple mineralised zones.
Standout intercepts from YQ-26-020 included 48.4 metres at 148 grams per tonne gold equivalent from 143.4m, including 0.45m @ 1,000g/t AgEq. In YQ-26-021, the best hit was 9.4 metres at 633g/t AgEq from 145.2 metres.
“Together, these results increase our confidence ahead of the updated Yoquivo MRE, which remains on track for delivery,” Mr McKinnon declared today.
This MRE update will be the first for the Yoquivo project reported in accordance with the JORC Code (2012), replacing previous “Foreign Estimates” at the Chihuahua workings, which were not originally JORC-compliant.
Advance holds 100% of the Yoquivo project through a Mexican subsidiary.
Early Thursday morning, AVM has been down -5.7%.
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