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Highlights

  • AVM reports multiple silver-gold mineralised zones across three diamond drill holes at Yoquivo
  • Advance Metals identifies broader intersections not reflected in earlier Foreign Estimate footprint
  • AVM awaits assay results from three holes; final drill hole underway at northern Pertenencia

Advance Metals Limited (ASX:AVM), an Australia-based mineral exploration company, has released new assay results from its maiden diamond drilling program at the Yoquivo Silver-Gold Project, located in southwestern Chihuahua, Mexico. The project is focused on exploring and defining silver-gold mineralisation across a known epithermal system. The company is conducting an approximately 3,000-metre diamond drilling campaign targeting extensions and new zones around the project's Foreign Estimate.

According to the company, the Yoquivo Project currently hosts a Foreign Estimate of 937,000 tonnes grading 570 g/t silver equivalent (AgEq), totalling 17.23 million ounces of AgEq. This estimate is not compliant with JORC or NI 43-101 standards and is used for general guidance.

Advance previously released initial assay data from hole YQ-25-001, which returned multiple intercepts including 3.55 metres at 249 g/t AgEq, 4.42 metres at 676 g/t AgEq, and 40.57 metres at 105 g/t AgEq. Building on those findings, the company has now received results from three additional drill holes (YQ-25-002, YQ-25-003, and YQ-25-004), each intersecting varying widths and grades of silver-gold mineralisation.

Hole YQ-25-002 encountered several mineralised zones, notably:

  • 23.83m at 85 g/t AgEq from 99.97m, including 8.84m at 140 g/t AgEq
  • 16.37m at 104 g/t AgEq from 133.23m, including 3.07m at 203 g/t AgEq
  • 21.17m at 55 g/t AgEq from 162.93m, including 1.66m at 155 g/t AgEq
  • 4.04m at 121 g/t AgEq from 189.74m, with a peak interval of 0.41m at 495 g/t AgEq
  • Additional narrow intercepts down to 417.3m, including 0.37m at 275 g/t AgEq

Hole YQ-25-003 returned:

  • 17.5m at 111 g/t AgEq from 30.2m, including 1.14m at 248 g/t AgEq and 1.68m at 385 g/t AgEq
  • A deeper interval of 1.27m at 516 g/t AgEq from 224.23m, including 0.30m at 1,955 g/t AgEq
  • 6.0m at 176 g/t AgEq from 285.0m, with 1.63m at 496 g/t AgEq
  • 2.23m at 285 g/t AgEq from 324.71m, including 0.34m at 880 g/t AgEq

Hole YQ-25-004 returned narrower zones, such as:

  • 1.05m at 294 g/t AgEq from 88.15m
  • 1.04m at 87 g/t AgEq from 336.25m

Advance stated that assay results for three additional holes (YQ-25-005, 006, and 007) are pending. Meanwhile, drilling has commenced on the final planned hole (YQ-25-008), located at the northern section of the Pertenencia target area.

Dr. Adam McKinnon, Managing Director of Advance Metals, commented on the results, noting that broader mineralised zones appear to extend beyond the boundaries of the existing Foreign Estimate. He added that a significant portion of historic drill core remains unassayed and that a program to re-log and sample this material will begin in the coming weeks.

The company indicated that this upcoming work will focus around the Pertenencia zone, which is considered a key target area within the Yoquivo system. With further assay results expected and follow-up sampling planned, the Yoquivo project remains an active area of exploration.

As of 7 July 2025, shares of Advance Metals Limited were trading 18.37% lower at AUD 0.040 per share on the Australian Securities Exchange.