What did Advance Metals (ASX:AVM) discover at the Gavilanes Silver Project?

Advance Metals intersected a broad, high-grade zone of silver mineralisation in the very first diamond drill hole of its maiden drilling campaign in Mexico. The 276-metre hole returned a standout intercept of 33.9 metres at 220 grammes per tonne (g/t) silver from 117.6 metres, including a rich 6.2-metre pocket grading 718g/t silver.

Why do these drilling results matter for Advance Metals (ASX:AVM) shareholders?

These results provide early validation of the exploration strategy management launched in May 2026. By proving that high-grade mineralisation continues 80 metres down-dip to the west of historical drilling, the company has shown that the Descubridora structure remains open and potentially much larger than previously known.

What is the current resource size estimate for the Gavilanes Silver Project?

Gavilanes currently hosts a historical foreign estimate of 2.83 million tonnes grading 246g/t silver equivalent (AgEq), which equates to 22.4 million ounces of silver equivalent. Because this is an older foreign estimate, it is not yet fully compliant with modern Australian JORC standards.

What are the key data points from the first drill hole at Gavilanes?

The first hole was drilled to a depth of 276 metres and hit a primary intercept of 33.9m at 220g/t silver from 117.6m (including 6.2m at 718g/t). Deeper hit highlights included 3.3m at 270g/t silver, 0.2g/t gold, 0.7% copper, 0.7% lead, and 1.1% zinc from 164.6m.

Image for illustrative purposes only. Not a real photo.

Advance Metals hits high-grade silver in Mexico

Written by Liezl GambePublished Jun. 4 2026Last Updated Jun. 4 2026

Advance Metals (ASX:AVM) has delivered a sound start to its maiden drilling campaign at the Gavilanes Silver Project, intersecting a broad zone of high-grade mineralisation in its very first diamond drill hole.

This marks a step forward for the project, which already hosts a substantial foreign estimate of 22.4 million ounces of silver equivalent at an 246 grammes per tonne.

The initial 276-metre hole targeted extensions of the high-grade Descubridora structure, tracking the zone 80m down-dip to the west of historical drilling.

Assays revealed a standout intercept of 33.9m at 220g/t silver from 117.6m, which includes a particularly rich 6.2-metre pocket grading at 718g/t silver.

Deeper in the same hole, multiple silver intersections showed strong associations with rising gold and base metal values, yielding highlights such as 3.3m at 270g/t silver and 1.1% zinc.

Managing Director Dr Adam McKinnon stated that these initial results validate the exploration strategy launched in May.

With a second 291-metre hole already completed to test southern extensions and a third underway, Advance Metals is updating its geological model.

The data from this 18-hole, 4,500-metre programme will directly support a JORC-compliant mineral resource upgrade scheduled for the final quarter of 2026.

At the time of reporting, Advance Metals’ share price was $0.076.