Advance Metals (ASX:AVM) Extends Gavilanes Silver System with Broad Copper-Gold Intercept

AVM

4 min read | July 01, 2026 02:00 PM AEST | By Sonal Goyal

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Advance Metals (ASX:AVM) Extends Gavilanes Silver System with Broad Copper-Gold Intercept — Image source: AVM Update

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Highlights

Advance Metals has extended the high-grade silver mineralisation at its Gavilanes Silver Project with 8.4m at 245g/t silver, including 3m at 523g/t silver, from drill hole GV-26-002.

The same drill hole intersected the largest copper-bearing zone recorded at Gavilanes.

Review of historic hole SCHN-01 confirmed additional copper-silver-gold mineralisation at depth.

Assays are pending for GV-26-003, while drilling is underway at GV-26-004 to test further extensions of the Descubridora structure.

The ongoing drilling program is expected to contribute to a planned JORC Mineral Resource upgrade in Q4 CY2026.

Advance Metals Limited (ASX:AVM) has reported additional encouraging drill results from its 100%-owned Gavilanes Silver Project in western Durango, Mexico , with the second diamond drill hole ( GV-26-002) extending the known high-grade silver system and intersecting a broad copper-silver-gold mineralised zone at depth.

The latest results are part of the company's maiden drilling campaign, designed to assess the southern extension of the high-grade Descubridora structure while supporting a planned JORC Mineral Resource upgrade targeted for Q4 CY2026 .

Second Drill Hole Extends High-Grade Silver Mineralisation

The GV-26-002 diamond drill hole has confirmed the continuity of the shallow silver system. The hole returned 8.4m grading 245g/t silver from 90m , including 3m at 523g/t silver , extending the known mineralisation further south.

The latest results follow the maiden drill hole GV-26-001 , which previously returned 33.9m at 220g/t silver , alongside a lower interval containing elevated base metals.

Broad Copper-Silver-Gold Zone Encountered at Depth

Beyond the upper silver zone, GV-26-002 intersected a broad interval of copper-silver-gold mineralisation , representing the largest copper-bearing interval recorded at Gavilanes so far.

The intercept returned:

54.6m at 0.6% copper, 22g/t silver and 0.3g/t gold from 180m, including 12m at 1.1% copper, 42g/t silver and 0.7g/t gold and 2.4m at 1.3% copper, 61g/t silver and 1.3g/t gold

The mineralised interval contains chalcopyrite , together with native copper and bornite , hosted within breccias and vein systems.

Historic Drilling Supports Deeper Mineralisation

Analysis of the drilling outcomes in the vicinity of GV-26-002 has identified historic hole SCHN-01 , located approximately 75m north , which hosts copper-silver-gold mineralisation.

Historic drilling returned:

20.5m at 1.0% copper, 119g/t silver and 0.9g/t gold from 201.1m, including 4.5m at 2.0% copper, 297g/t silver and 2.5g/t gold

The company highlighted that its preliminary geological interpretation suggests copper and gold mineralisation may strengthen towards the south and at greater depths . Additional drilling will be required to confirm the continuity and extent of the mineralisation , while the latest results indicate the presence of a potential polymetallic system beneath the existing high-grade silver zone .

Drilling Program Continues Across Multiple Targets

AVM's maiden drilling program is expected to comprise 15–18 diamond drill holes for up to 4,500m of drilling.

Assays remain pending for drill hole GV-26-003 , which was completed further to the east of GV-26-002 and is intended to assess continuity of both the upper silver zone and the deeper copper-silver-gold mineralisation.

Meanwhile, GV-26-004 is currently being drilled approximately 70m southwest of GV-26-002 to test further extensions of the mineralised system.

Beyond the Descubridora structure , the company also plans follow-up drilling at the San Nicolas , El Nopal , and La Cruz/La Tuna targets as exploration continues across the broader project area.

Resource Update Planned

The current drilling campaign, together with geological interpretation and historical drill data validation, is expected to support a planned JORC Mineral Resource upgrade for the Gavilanes Project , targeted for early Q4 CY2026 .

The project currently hosts a Foreign Estimate of 22.4 million silver-equivalent ounces (AgEq) at an average grade of 246g/t AgEq .

AVM shares were trading at AUD 0.062 per share at the time of writing on 1 July 2026.

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