A separate hole 2,200m to the north hit "promising lead and zinc grades in a zone of semi-massive sulphides" including 1.3m at 2.27% lead and 5.45% zinc from 725m.

"It is clear we have a very large sulphide system at Tabasquena," president and CEO Allan Barry Laboucan said.

The company is investigating a 3,500m long continuous high chargeability Induced Polarisation anomaly at the project.

It said along with ongoing drilling, a new geophysical survey would be underway "within days" to determine the east to west dimensions of the anomaly at the northern end.

Hot on the heels of raising about C$301,000 at 7.5c per unit in July, Advance Gold raised a further $720,000 at 10c per unit later the same month.

The company acquired Tabasquena in September 2017 and purchased certain mining equipment assets on the project the following year.

It describes Tabasquena as "in the shadows of a headframe project, the Real de Milagros silver mine" and said the fully-permitted project contained a recently-built headframe, 100m shaft and underground workings.

Advance Gold recently elected to dilute its interest to 12.23% in the Kakamega properties in Kenya, managed by Shanta Gold.

Its shares, which have ranged from 3c-28.5c over the past year, closed up 30.4% to 15c, valuing it at $7.6 million (US$5.7 million).