Advance Metals (ASX:AVM) Reports New High-Grade Silver Intersections in Gavilanes

AVM

4 min read | July 14, 2026 11:15 AM AEST | By Sonal Goyal

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Advance Metals (ASX:AVM) Reports New High-Grade Silver Intersections in Gavilanes — Image source: AVM Update

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Highlights

AVM has reported new high-grade silver intersections and its broadest polymetallic interval to date from drill hole GV-26-003 at the Gavilanes Silver Project.

The deeper polymetallic mineralised zone remains open along strike, to the east and at depth after GV-26-003 ended in mineralisation.

Assays from drill hole GV-26-004 are pending, while drilling at GV-26-005 is testing the largest southern step-out completed so far along the Descubridora structure.

The ongoing drilling campaign is expected to support a planned JORC Mineral Resource upgrade targeted for Q4FY26.

Advance Metals Limited (ASX:AVM) has released new assay results from its maiden diamond drilling program at theGavilanes Silver Project, located in Mexico. The latest results from drill hole GV-26-003 highlighted two shallow high-grade silver mineralisation zones and the broadest polymetallic zone recorded at the project to date. The ongoing drilling campaign is focused on testing known mineralisation and supporting the JORC Mineral Resource upgrade, planned later in 2026.

Third Drill Hole Returns High-Grade Silver Intersections

The latest assay results are from third diamond hole GV-26-003, which was drilled approximately 60m east of GV-26-002 to evaluate the southern extension of the Descubridora structure.

The drill hole GV-26-003intersected two shallow zones of high-grade silver mineralisation, including

6m at 309g/t Ag from 24m including 3.4m at 569g/t Ag from 32.6m
6m at 204g/t Ag from 58.8m including 1.2m at 548g/t Ag from 63.6m

Broad Polymetallic Zone Identified at Depth

Deeper in the hole, drilling intersected a broad silver-gold-copper interval beginning at 205.8m and continuing to the end of the hole.

The interval returned-

5m at 83g/t Ag, 0.8g/t Au, 0.6% Cu, 0.6% Zn & 0.3% Pb from 205.8m to EOH
incl. 4.5m at 141g/t Ag, 0.5g/t Au, 0.8% Cu, 3.0% Zn & 1.9% Pb from 205.8m
and 5.5m at 160g/t Ag, 2.3g/t Au & 1.5% Cu from 217.2m
and 9.2m at 118g/t Ag, 0.3g/t Au & 0.3% Cu from 234m to EOH

The drill hole ended in mineralisation after encountering a void before reaching its planned depth of 350m, leaving the deeper mineralised zone open to the east, along strike to the south and at depth.

The company stated that the results from GV-26-003 provide additional evidence of a multi-stage epithermal mineralising system with geological characteristics comparable to those observed in the nearby San Dimas district, located east of the Gavilanes Project.

Results Build on Earlier Drilling

The latest results follow previous intersections reported from GV-26-001 and GV-26-002, which also identified silver and polymetallic mineralisation within the Descubridora structure.

Earlier drilling returned 33.9m at 220g/t silver in GV-26-001, including 6.2m grading 718g/t silver, while GV-26-002 intersected 8.4m at 245g/t silver, including 3m at 523g/t silver.

GV-26-002 also intersected 54.6m grading 0.6% copper, 22g/t silver and 0.3g/t gold, including 12m grading 1.1% copper, 42g/t silver and 0.7g/t gold.

Drilling Program Continues Across Gavilanes

The drilling program is expected to comprise 15 to 18 diamond drill holes for approximately 4,500m of drilling.

Current activities remain focused on testing the down-dip and strike extensions of the known high-grade mineralised system, while also evaluating priority exploration targets beyond the current Foreign Estimate area.

The Gavilanes Project currently hosts a Foreign Estimate of 2.83 million tonnes grading 246g/t silver equivalent (AgEq), containing 22.4 million ounces of silver equivalent.

Assays Pending and Additional Targets Planned

Assay results are currently pending for drill hole GV-26-004, which tested the mineralised system approximately 50m south of GV-26-003.

Meanwhile, GV-26-005 is underway more than 120m south of the latest hole, representing the company's largest step-out along the Descubridora structure to date.

Following completion of current drilling, the company plans to continue testing the Descubridora structure across approximately 500m of strike. Additional drilling is also planned at the San Nicolas, El Nopal, and La Cruz/La Tuna targets.

Alongside exploration, the company will integrate new drilling results, geological interpretation, selected core sampling and historical data validation into an updated geological model ahead of its planned JORC Mineral Resource upgrade targeted for the fourth quarter of calendar year 2026.

AVM Share Price Surges

Following the update, AVM share price jumped nearly 10% to touch the days high of AUD 0.068 per share. The stock was trading at AUD 0.065 at the time of writing on 14 July 2026.

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