Advance Metals (ASX:AVM) has revealed a mineral resource estimate (MRE) for its Yoquivo Silver-Gold Project, 210km southwest of Chihuahua in Mexico.
The initial MRE shows a 50 grams per tonne of silver equivalent cut-off. This suggests that a “large-scale” silver-gold system exists at the site, with mineralisation extending from the surface and “strong continuity” across key zones.
Results also indicate potential “bulk mining open cut and underground mining scenarios” due to broad, shallow, and contiguous mineralisation. More than 93% of the silver is touted to be in the easterly Pertenencia deposit, while the remainder could be at the westerly Esperanza deposit.
Advance Metals drilled 21 diamond holes spanning a combined 7km. The gold and silver exploration and development company also assayed more than 5km of historic diamond core.
“The resource highlights broad zones of shallow, contiguous mineralisation, supporting the potential for bulk mining scenarios that could underpin a lower-cost development pathway,” Managing Director and CEO Dr Adam McKinnon says.
“With a discovery cost of about US$0.10 ($0.14) per ounce, Yoquivo demonstrates the effectiveness of our exploration strategy, and we are now focused on the next phase of drilling to drive further resource growth and advance Yoquivo toward development.”
The company next plans to continue refining geological, litho-geochemical, and structural models for the project, identifying high-priority future drilling program targets and mapping as well as sampling to identify additional targets.
Advance Metals is a silver exploration and development company with assets in South Australia and Mexico.
Write to Richard Szabo at Mining.com.au
Images: Advance Metals
