Advance Metals (ASX:AVM) is conducting evaluation work at the Yoquivo Silver-Gold Project in Mexico, aimed at assessing mineralisation overlooked in earlier drilling to update the site’s geological model.
Multiple holes in a recently completed drilling program showed broad zones of moderate to high-grade silver-gold mineralisation not correlated to the existing foreign estimate at Yoquivo.
Some of the latest intersections include 4.42m @ 446 grams per tonne silver-equivalent; 8.84m @ 140g/t silver-equivalent; and 1.27m @ 516g/t silver-equivalent.
In reviewing these new intersections, Advance identified many adjacent holes drilled by the previous owners of the project have highly patchy or absent assay data in the corresponding positions.
Advance, which has a market capitalisation of $12.20 million, is now conducting a sampling program of the highest potential unassayed core. The program will include 3,500m, targeting holes closest to known mineralisation.
The results are expected to be returned in October and will be used together with recent drilling results to update Yoquivo’s geological model. The model will then be fed into a subsequent resource estimate for the project.
The Yoquivo Project, located in southwestern Chihuahua, Mexico, contains a foreign estimate of 17.23 million ounces at 570g/t silver-equivalent.
Advance Metals is a gold and silver explorer and developer focused on its asset portfolio in Australia and North America.
Write to Aaliyah Rogan at Mining.com.au
Images: Advance Metals
