Advance Metals Secures 17Moz Silver Equivalent at Yoquivo and Plans 2025 Drilling
Advance Metals Limited has significantly expanded its portfolio with binding agreements to acquire high-grade silver and gold projects in Mexico and Australia, setting the stage for an active 2025 exploration campaign.
- Acquisition of 100% interest in Yoquivo Silver Project, Mexico
- Joint venture agreement for 80% stake in Myrtleford and Beaufort Gold Projects, Victoria
- Binding agreement to acquire 100% of Gavilanes Silver Project, Durango, Mexico
- Initial drilling programs planned for Myrtleford and Yoquivo projects in early 2025
- Appointment of experienced Managing Director Dr. Adam Mckinnon
Strategic Acquisitions Bolster Portfolio
Advance Metals Limited (ASX: AVM) has unveiled a transformative quarter with multiple high-profile acquisitions and exploration initiatives that underscore its ambition to become a significant player in the silver and gold sectors. The company entered into binding agreements to acquire a 100% interest in the Yoquivo Silver Project in Chihuahua, Mexico, and the Gavilanes Silver Project in Durango, Mexico, while also securing an 80% joint venture stake in the Myrtleford and Beaufort Gold Projects in Victoria, Australia.
These acquisitions collectively position Advance Metals with access to substantial mineral endowments, including a Foreign Estimate of 17.23 million ounces silver equivalent at Yoquivo and 22.4 million ounces silver equivalent at Gavilanes, alongside promising high-grade gold mineralisation in Victoria's historic goldfields.
Yoquivo Silver Project: Unlocking High-Grade Potential
The Yoquivo Project, acquired from Golden Minerals Company, is a past-producing epithermal vein system with over 16,500 metres of drilling completed since 2020. The project boasts impressive grades, with assays revealing bonanza silver and gold intersections, such as 6.2 metres at 2,404g/t silver and 17.2g/t gold. Advance Metals has commenced on-ground activities, including relocating historic core samples and engaging with local communities to secure drilling approvals.
With a majority of mapped veins remaining underexplored, the company is designing a confirmatory and extensional drilling program, aiming to validate and expand the existing resource base. The strategic location within the prolific Sierra Madre Volcanic Belt further enhances the project's appeal.
Victorian Goldfields: Myrtleford and Beaufort Projects
Advance Metals’ joint venture with Serra Energy Metals Corp. grants it up to an 80% interest in the Myrtleford and Beaufort Projects, situated in one of Australia's most prolific gold-producing regions. The projects encompass hundreds of mineralised workings, including over 70 historic high-grade underground mines largely untouched by modern exploration.
Recent drilling at the Happy Valley Prospect has yielded exceptional results, including 11.5 metres at 160.4g/t gold, with mineralisation open at depth. The company has approved an initial diamond drilling program targeting these high-potential zones, with plans to test structural controls on mineralisation and extend the known mineralised trends at Twist Creek and Magpie.
Gavilanes Silver Project: Expanding Silver Exposure
The acquisition of the Gavilanes Silver Project from Sailfish Royalty Corp. adds a significant polymetallic epithermal vein system to Advance Metals’ portfolio. Located near First Majestic Silver’s San Dimas Mine, Gavilanes features historic drill intercepts with spectacular silver grades, such as 6.3 metres at 2,016g/t silver.
Despite extensive surface vein mapping, drilling has only tested a fraction of the known vein systems, leaving considerable upside potential. The project’s existing Foreign Estimate of 22.4 million ounces silver equivalent provides a strong foundation for future resource development.
Corporate Developments and Financial Position
Complementing its operational momentum, Advance Metals appointed Dr. Adam Mckinnon as Managing Director in early January 2025. Dr. Mckinnon brings over 18 years of experience in exploration and mining, with a track record in discovering and developing high-grade deposits. Additionally, Jay Stephenson joined as Company Secretary, bringing extensive business development expertise.
Financially, the company ended the quarter with $923,000 in cash and no capital raisings during the period, reflecting prudent management as it prepares for an active exploration phase. Exploration expenditure for the quarter was $206,000, focused on advancing project readiness and initial field activities.
Looking Ahead: Drilling and Development Plans
Advance Metals is poised for a busy first half of 2025, with drilling programs scheduled to commence imminently at Myrtleford and Yoquivo. The company’s strategy to rapidly advance multiple high-grade projects across two continents reflects confidence in the underlying geology and market fundamentals, particularly amid strong silver prices.
Success in these programs could materially enhance the company’s resource base and market position, while ongoing community engagement and permitting efforts will be critical to maintaining momentum.
Bottom Line?
Advance Metals’ aggressive acquisition and exploration strategy sets the stage for a pivotal year, with drilling results poised to define its next growth chapter.
Questions in the middle?
- How will initial drilling results at Myrtleford and Yoquivo influence Advance Metals’ valuation and project prioritisation?
- What timelines and hurdles remain for securing full community and environmental approvals for drilling in Mexico?
- Could further acquisitions or joint ventures be on the horizon as Advance Metals scales its exploration footprint?
