Advance Metals (ASX:AVM) reports further ‘high-grade’ silver and base metal mineralisation at its Gavilanes Silver Project in Mexico.
Hole GV-26-008 returned 4.6m @ 945 grams per tonne silver (Ag), 1.4% zinc (Zn), and 1% lead (Pb) from 66.7m, including 1m @ 4,120g/t Ag, 5.7% Zn, and 4.1% Pb.
A deeper interval in the same hole returned 12m @ 21g/t Ag, 3.8% Zn, and 3.7% Pb from 98.5m, including 5.3m @ 36g/t Ag, 7.7% Zn, and 6.3% Pb from 102.7m.
Managing Director Adam McKinnon says the hole returned the “highest individual silver assay grade” in the company’s program to date.
“At over 4,000g/t silver, GV-26-008 […] also returned the highest grade zinc-lead interval encountered at the project to date, including 5.3m at 14% Zn+Pb,” McKinnon notes.
GV-26-008 was drilled below ‘high-grade’ silver mineralisation previously intersected in GV-26-004, extending the system, which remains open at depth and to the south-west.
Three southernmost holes also demonstrate gold (Au) mineralisation south of the main silver drilling. GV-26-007 returned 2.4m @ 2g/t Au, 21g/t Ag, 1.2% Zn, and 2.2% Pb from 14.40m, plus 6m @ 1.4g/t Au and 4g/t Ag from 127.20m.
GV-26-006 returned 3.6m @ 0.8g/t Au and 30g/t Ag from 136.80m, while GV-26-005 intersected 1.9m at 1.50g/t Au and 16g/t Ag from 109.35m.
Gavilanes sits 23km from First Majestic Silver’s (NYSE:AG) San Dimas Mine in western Durango. The project comprises 136km2 across 11 concessions and hosts a foreign estimate of 2.83 million tonnes at 246g/t silver equivalent (AgEq) for 22.4 million ounces AgEq.
Drilling has focused predominantly around the Descubridora structure, leaving much of the broader area untested.
Metallurgical test work has commenced, and the company targets a maiden JORC mineral resource for the December quarter. Assays are pending from GV-26-009, and Advance plans to continue testing the Descubridora structure over up to 500m of strike.
Advance Metals is an Australian precious metals explorer advancing a portfolio of silver and gold assets.
Write to JC Villarba at Mining.com.au
Images: Advance Metals
