Advance Metals managing director Dr Adam McKinnon said: โFollowing on from the strong initial assay results released for Yoquivo last month, these new results show the incredible upside potential of the project. Iโve been pleasantly surprised with how wide the intersections in the first three holes have been, representing a very significant volume of silver-gold mineralisation not currently captured by the narrow foreign estimate footprint.โ
Management notes a substantial amount of historical drill core remains unassayed, hinting that some of the broader mineralised zones could be more extensive than currently defined. The company plans to re-log and sample this legacy core in the coming weeks, aiming to unlock additional value without the expense of further drilling.
The Yoquivo silver-gold project lies 210 kilometres southwest of Chihuahua city.
Advance last year entered into a binding sale agreement with Golden Minerals to acquire full ownership of seven mineral concessions covering a whopping 1975 hectares of the lucrative Sierra Madre Occidental Belt, which is also home to Canada-based Agnico Eagleโs Pinos Altos gold-silver mine and United States-based Coeur Miningโs Palmarejo silver-gold mine.
Mexico produces almost one quarter of the worldโs silver supply. The precious metal is fast approaching a 13-year high and was holding firm above US$36.80 (A$56.36) an ounce in trading late last week as renewed global trade tensions bolstered demand for safe-haven assets.
Back on home turf, Advance has restarted diamond drilling at its Myrtleford gold project in the Victorian goldfields, where it is chasing a 7.9m high-grade gold lode that coughed up a whopping 47.9g/t of the precious yellow metal.
It seems Advanceโs dual-pronged approach to developing a pair of precious metals projects in some of the worldโs prime gold and silver provinces looks poised to pay it dividends.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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