Advance adds local firepower to Mexican silver push

Advance Metals has bolstered its silver discovery credentials in Mexico, establishing a heavyweight Advisory Board to steer what is fast emerging as one of the country’s more aggressive precious-metals growth stories.

The company says the two-member board consisting of Douglas Coleman and Trevor Woolfe will provide technical and strategic guidance as Advance drives towards its stated goal of lifting combined resources across its three Mexican assets at Yoquivo, Guadalupe y Calvo (GyC) and Gavilanes beyond 200 million ounces silver-equivalent (AgEq).

Coleman and Woolfe bring more than 70 years of combined experience in exploration, development and corporate strategy, underpinned by deep local networks. Coleman is best known as founder of the Mexico Mining Center and co-founder of the Discoveries Mining Conference — two of the country’s cornerstone industry platforms, with both having held senior roles with Appian Capital, Layne and Globexplore. Woolfe, a former vice-president of exploration and corporate development at GR Silver Mining, adds further Latin American experience, with career credentials spanning three continents.

Managing Director Adam McKinnon said the board’s formation marked another step in turning institutional capital and geological potential into discovery.

“Douglas and Trevor bring an exceptional depth of experience and relationships in Mexico’s mining industry. Their combined expertise in exploration, development and on-the-ground execution will be invaluable as we move quickly to expand our silver endowment. In the near term, high-impact drilling at Yoquivo will recommence, followed by maiden drilling at Guadalupe y Calvo and Gavilanes in early 2026 – the start of what we expect to be a major period of discovery-led growth for Advance,” McKinnon said.

The move follows a $13 million placement earlier this month corner-stoned by Jupiter Asset Management and Tribeca Investment Partners. The raise received global institutional backing leaving Advance well-funded for an aggressive exploration push. The capital has been earmarked for simultaneous drilling programs across all three Mexican projects and an expanded diamond campaign at the company’s Myrtleford gold operation in Victoria.

In Mexico, the immediate focus is the high-grade Yoquivo project, where Advance’s maiden drilling returned standout intersections including 4.87 metres at 544 g/t AgEq and 1.11 metres at 2,063 g/t AgEq from 312 metres. More recently, regional sampling uncovered new quartz-vein structures southeast of the main Dolar system, with surface rock-chip assays peaking at 1,594 g/t AgEq.

‘… early 2026 – the start of what we expect to be a major period of discovery-led growth for Advance.’

Advance Metals Managing Director Adam McKinnon

At Guadalupe y Calvo, which was acquired mid-year from Endeavour Silver Corp, the company holds a foreign-estimate resource of 9.5 million tonnes at 2.7 grams per tonne gold-equivalent for 816,000 ounces of gold equivalent or put another way, about 60.6 million ounces of silver equivalent. Advance has already begun site works ahead of drilling approvals, with priority targets along the Rosario and Nankin veins and open extensions at San Carlos and El Chapito.