Advance Metals Expands Portfolio with Gold and Silver Projects Across Two Continents

3 min read | January 07, 2025 11:39 AM AEDT | By Team Kalkine Media

Advance Metals Expands Portfolio with Gold and Silver Projects Across Two Continents — Image source: Shutterstock

Gold Ventures in Victoria

In a binding joint venture agreement with Serra Energy Metals (CSE:SEEM), Advance Metals will earn up to an 80% stake in the Myrtleford and Beaufort gold projects. Located in Victoria’s historic Goldfields, the region boasts a rich history with over 80 million ounces of gold produced to date.

The Myrtleford Project is particularly noteworthy, with Serra identifying a 13km-long Happy Valley Trend featuring extensive historical gold mines. Modern exploration has confirmed high-grade mineralisation extending below shallow historic workings, underscoring the untapped potential of the site. Notable drilling results include 11.5 meters at 160.4 grams per tonne gold, with intervals reaching as high as 2,430g/t.

At the Beaufort Project, a 20km alluvial gold trend has been delineated, with historical production estimated at 1.16 million ounces. Serra has already invested $6 million advancing these projects, creating a strong foundation for further discoveries.

Silver Expansion in Mexico

Advance Metals has also acquired Swordfish Silver, a subsidiary of Sailfish Royalty (TSX-V:FISH) and owner of the Gavilanes Silver Project in Mexico. This acquisition marks the company’s second project in the country, complementing its existing Yoquivo Project.

The Gavilanes Project, located in Durango’s prolific San Dimas mining district, hosts a foreign resource of 22.4 million silver equivalent ounces at an average grade of 245.6g/t. Exploration has only covered a fraction of the area, with 130 square kilometers remaining largely unexplored. Notable drill results include 3.3 meters at 2,540g/t silver and 6.3 meters at 2,016g/t.

The acquisition terms are milestone-based, tied to achieving a resource size of 60 million ounces at 300g/t silver equivalent or more. This structure highlights the project’s scalability and long-term value potential.

Market Reaction

Following the announcement, Advance Metals shares surged by 26.5% on Monday, reaching an intra-day high of $0.043. This significant uptick reflects market confidence in the company’s growth strategy and the potential of its newly acquired assets.

With these acquisitions, Advance Metals positions itself as a competitive player in both the gold and silver sectors, driving exploration in resource-rich regions.

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