It is considering testing less-explored veins in the region to the north and west of the major intercepts.
Advance Metals managing director Dr Adam McKinnon said: “With the approvals in place we have turned our attention to confirming and extending some of the previous bonanza-grade silver and gold intersections. Our maiden drilling program will be a fantastic test of the potential upside to the existing foreign estimate at Yoquivo, with high-grade drilling results expected to extend over several months into the second half of the year.”
Epithermal silver-gold deposits can be among the world’s richest deposits, with bonanza-grade mineralised shoots and vertical depths sometimes extending for hundreds of metres. They often contain significant other metals in addition to high-grade gold and silver deposits.
The Yoquivo project has a non-JORC resource comprising 937,000 tonnes at 570g/t silver-equivalent for 17.23 million silver-equivalent ounces. The foreign estimate resource has been defined by more than 16,500m of drill testing across the site.
Initial flotation and leaching testwork conducted by the previous owner indicates likely recovery levels of both metals at 85 per cent.
The company entered into a binding sale agreement with Golden Minerals in October last year to acquire full ownership of the Mexican project.
Advance also has two exciting projects in Victoria, the Myrtleford and Beaufort gold projects. Both are within the historical Victorian goldfields, known for producing more than 80M ounces of gold.
The company last month had some seriously high-grade gold hits up to 93g/t from a diamond drill hole at its Happy Valley prospect within the company’s Myrtleford project, 290km northeast of Melbourne.
The impressive 1.2m, 93g/t intersection was unearthed within an 8.2m hit grading 22.4g/t from 186m depth, which included 3.4m at a stellar 52.7g/t gold.
Other notable intersections were 0.9m going 19g/t from 157.8m and 2.15m at 4g/t gold from 177.8m.
The assays were received from the first diamond drill hole at Happy Valley and followed up a previous extraordinary hit of 11.5m at 160.4g/t by the former project owner that included a mammoth 2430g/t gold hit across 0.6m.
With the silver price beginning to rise – it has lifted 10.75 per cent so far this year – following on from gold’s stunning 23 per cent jump in 2025, Advance appears to be pursuing the right metals during these times of great uncertainty across various other commodity markets.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
