Advance Metals (ASX:AVM) has reported the third diamond drill hole at its Gavilanes Silver Project intersected the ‘strongest’ combined silver–gold–copper interval to date.
The company’s latest hole, GV-26-003, returned two shallow ‘high-grade’ silver zones including 15.6m @ 309 grams per tonne (g/t) silver (Ag) from 24m and 6m @ 204g/t Ag from 58.8m.
Deeper in the hole, Advance intersected a broad 37.5m polymetallic zone @ 83g/t Ag, 0.8g/t gold (Au), 0.6% copper (Cu), 0.6% zinc (Zn), and 0.3% lead (Pb) from 205.8m to the end of hole. The interval includes 4.5m @ 141g/t Ag, 0.5g/t Au, 0.8% Cu, 3.0% Zn and 1.9% Pb from 205.8m.
The hole ended in mineralisation at 243.2m, leaving the lower polymetallic zone open along strike and at depth. A small void prevented the hole from reaching its planned 350m depth.
Managing Director Adam McKinnon says the results strengthen the interpretation of a vertically stacked system at the southern end of the deposit.
“GV-26-003 is an important result for Advance, returning two shallow high–grade silver zones together with the strongest polymetallic interval reported at Gavilanes to date,” McKinnon says.
“Together with the broad copper-silver-gold interval intersected in GV-26-002, the latest results strengthen our interpretation of a vertically stacked system, with shallow silver-dominant mineralisation and increasing copper and gold at depth.”
The hole was collared 60m east of previous hole GV-26-002, which returned 54.6m at 0.6% Cu, 22g/t Ag, and 0.3g/t Au from 180m. The company notes the results provide further evidence of a multi-stage epithermal mineralising system with geological similarities to the nearby San Dimas district.
Gavilanes hosts a foreign estimate of 2.83 million tonnes at 246g/t Ag equivalent (AgEq), containing 22.4 million ounces (Moz) AgEq. The project sits 23km east of First Majestic Silver’s (NYSE:AG) San Dimas Mine, which has produced 745Moz of Ag and 11Moz Au over its history.
Advance has assays pending from hole GV-26-004, which tested the system 50m further south. The company is currently drilling GV-26-005, representing its largest step-out along the Descubridora structure at more than 120m south of GV-26-003.
The drilling program comprises up to 18 diamond holes for 4,500m and is initially focused on testing the Descubridora structure. Follow-up drilling is planned across additional targets including San Nicolas, El Nopal, and La Cruz/La Tuna.
Advance says results from the current campaign will support a planned JORC mineral resource update for Gavilanes, targeted for the December quarter of 2026.
Write to France Pinzon at Mining.com.au
Images: Unsplash
