AVM - assays from Mexican silver project due in mid-Jan 2026 - silver up to US$66 per ounce

Our silver and gold Investment Advance Metals (ASX: AVM) just put out an update on its ongoing drill program at one of its three silver projects in Mexico.

AVM has three silver assets in Mexico with a combined ~100M silver ounces in foreign resources across 3 projects:

1. Guadalupe y Calvo (60.6M oz silver equivalent foreign resource estimate)
2. Yoquivo (17.2M Oz silver equivalent foreign resource estimate)
3. Gavilanes (22.4M Oz silver equivalent foreign resource estimate)

Today’s announcement relates to the Yoquivo project.

AVM confirmed that the first 5 diamond drillholes had been completed across three separate targets and that currently, assays were pending from all five holes.

(AVM said that assays from drilling were expected in mid-January)

(source)

Here is a cross section of where the drilling was targeted:

(source)

AVM also confirmed that ~4,000m+ drillcore resampling had been completed with the drill results and the resampling to feed into an updated resource estimate for the project.

With the silver price gapping up over the last few days, we think some of the results from this drill program could bring a lot of market interest into AVM (which we hope re-rates the company’s current valuation):

(source)

What else is AVM up to?

AVM is also currently drilling its gold project in Victoria, where it recently brought a second drill rig on site, having seen visual gold in some of the drill cores.

The second rig will be drilling the Queen of the Hills prospect - along strike of the Happy Valley deposit:

(Source)

Results from that gold visual hole were released earlier in the week, which included a result of 3.7m at 16.6g/t gold, with a deeper section of that hole, which may have interested more mineralisation still to be assayed:

With 2 drill rigs here now spinning we should see results continuing well into next year and while still very early days, we think that the market could start to make some comparisons here to $1BN capped Southern Cross gold which has several high grade systems.

What’s next for AVM?

Assay results from AVM’s Victorian gold project 🔄

With drilling continuing at the Victorian gold project, assays have started to be released so we await for the results to continue.

AVM had a second drill rig arrive on site recently, so we expect the rate of assays to ramp up early next year if not sooner.

Drilling results from the Yoquivo silver project in Mexico 🔄

We are looking forward to the results from the five assays that are currently in the lab as well as any other drill results that come from the current round of drilling.

We are especially interested in those holes testing for depth extensions of the current resource on the project:

(source)

Sampling of old drillcore at the Yoquivo silver project in Mexico 🔄

We are also looking forward to seeing the sampling results from the untested parts of AVM’s Yoquivo project in Mexico continuing.

The old drilling hadn’t been completely tested in the past so we should see the results from this in the coming weeks (hopefully the gaps in the veins from the image below are also mineralised)

The company has detailed that results from this are ongoing and will be used along with the recent diamond drilling results to update the JORC Resource for the project in Q1 next year..

(Source)