AVM samples silver and gold outside of its existing resources in Mexico

Our silver and gold Investment Advance Metals (ASX: AVM) just received a batch of historical core silver resampling results at its Yoquivo project 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 4,500m historical core resampling program at its Yoquivo project.

(source - prior)

(source - today)

With the resampling program, AVM took old drillcore, and assayed parts of the core that hadn’t been assayed in the past.

Today AVM announced results from ~3,516m of core with 519m of intervals showing silver/gold mineralisation >4g/t silver equivalent.

Including intervals where grades were a lot higher - 0.9m at 766 g/t silver equivalent.

Here is a closer look at how today’s results look and how they sit outside the current resource area.

(the red shading is the current foreign resource, the purple is silver and gold identified in the resampling program).

(source)

So we can see AVM filling in the gaps in its resource which will be important when considering a potential “bulk tonnage open pit” scenario for the resource.

(source)

On top of there being the chance for a significant JORC resource upgrade, which appears evident looking at all of the mineralisation shown today outside of the existing zones.

AVM also confirmed that the JORC upgrade is on track, expected later this month:

(source)

Here is an overview of AVM’s broader drill program - we are hoping to see the step out holes (marked as stars) and the latest drillholes (green circles) extend those red “mapped vein’s”:

(source)

What else is AVM up to?

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

It also recently hit visible gold from an unknown structure ~100m to the east of the known mineralisation:

(source)

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 this year.

While still very early days, we think that the market could start to make some comparisons here to $2.6BN capped Southern Cross gold which has several high grade systems and $155M capped Falcon gold which made a similar styled discovery last year..

What’s next for AVM?

AVM recently provided a nice outlook chart so which details what we can expect to see and when:

(source)

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, with AVM confirming 2 assays from here are due in February. (source)

Drilling results from the Yoquivo silver project in Mexico 🔄

We are looking forward to the results from the 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 with most of this now received and will be used along with the recent diamond drilling results to update the JORC Resource for the project expected later this month. (source)

Here is the update from the batch of assays received today:

(source)