Advance Metals (ASX:AVM) has completed a new drilling stage at its Yoquivo Silver-Gold Project, 210km southwest of Chihuahua in Mexico.
The precious metals exploration company reported drilling results that are favourable enough to upgrade the project’s Joint Ore Reserves Committee-approved mineral resource estimate at the Pertenencia deposit.
Diamond hole YQ-26-020 is targeting extensions to known ‘high-grade’ zones at depth within the central Pertenencia area. That hole reportedly returned several mineralised intervals across a downhole zone that exceeds 230 metres.
These results support the company’s first mineral resource estimate for the Yoquivo deposit, which will be reported at a later stage. The Yoquivo resource extension and regional drilling phase is complete.
Work is expected to begin shortly on programs that will help define a maiden mineral resource at Advance Metals’ Gavilanes Silver-Gold Project.
A technical review of the completed drilling program is planned to guide next-stage exploration and mineral resource estimate growth at Yoquivo. Exploration programs will start to define a maiden mineral resource at the Gavilanes project.
“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 within the Pertenencia area,” Advance Managing Director and CEO Dr Adam McKinnon says.
“With drilling for this phase now complete, our focus is on delivering Yoquivo’s first JORC mineral resource estimate and continuing to advance the project.”
Advance Metals is a gold and silver exploration company with assets mostly in Victoria and Mexico.
Write to Richard Szabo at Mining.com.au
Images: Advance Metals
