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Advance Metals Limited (ASX:AVM)

ALERT: Price-sensitive ASX Announcement for AVM
Current share price for AVM : $0.058 -0.002 (-3.33%)+
Announcement
Release
1 Jul 2026 8:19AM
Price at Release
$0.060
Full Release
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Summary
Advance Metals Limited has reported promising results from their ongoing drilling program at the Gavilanes Silver Project in Durango, Mexico. The company's second diamond drill hole (GV-26-002) has successfully extended the high-grade silver system and intersected a substantial copper-silver-gold zone at depth, signaling the project's potential for a significant polymetallic discovery. These findings are in line with the mineralization style of the nearby San Dimas district. The company is planning additional drilling to confirm the extent and continuity of these mineralized zones, with the goal of upgrading to a JORC Resource by the end of 2026.
Key Points
  • Advance Metals Limited (AVM) announced the results of their second diamond drill hole (GV-26-002) at the Gavilanes project, which extended the high-grade silver system and intersected a broad copper-silver-gold zone.
  • GV-26-002 drill results included 8.4 meters at 245g/t Ag and 54.6 meters at 0.6% Cu, 22g/t Ag, and 0.3g/t Au, indicating a strong presence of mineralization at depth.
  • The drilling results support the potential for a large-scale polymetallic discovery at Gavilanes, aligning with previous findings in the San Dimas district.
  • Advance Metals plans further drilling to assess continuity and extensions of mineralized zones, aiming for a JORC Resource upgrade by Q4 CY2026.
  • The Gavilanes project benefits from its proximity to the San Dimas district and existing infrastructure, enhancing its development potential.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.