Mithril Silver and Gold Stretches High-Grade Copalquin Target 4 Strike to 700 Metres

Mithril Silver and Gold has extended high-grade silver and gold mineralisation along the Copalquin-Zaragoza structure at its Target 4 prospect in Mexico to 700 metres of strike, up from 550m across two sub-parallel veins. TradingView reported the results, with eight drill hole assays still pending.

Mithril's Target 4 Drilling Results

One standout intersection returned 1.15m grading 855 grams per tonne silver and 2.76g/t gold, equivalent to 1,048g/t silver on the company's metal-price and recovery assumptions. A second high-grade interval of 2.65m graded 305.6g/t silver and 1.50g/t gold, while a southeast step-out returned 0.50m grading 1,520g/t silver and 3.11g/t gold.

The new results link mineralisation between the Copalquin and Zaragoza workings across a series of post-mineral dykes. The two veins lie approximately 10m to 15m apart, and Mithril continues to test their extensions in lateral steps of about 60m. Other holes intersected post-mineral dykes or weaker mineralisation.

Channel sampling around the historical San Manuel mine, about 400m southeast along the interpreted trend, returned grades as high as 16.55g/t gold and 616g/t silver across 0.6m. More than 50 of 135 channel samples exceeded 1g/t gold equivalent, and mapping has covered another 80 hectares around the district's second-largest historical underground mine.

"We're focused on unlocking the potential between these targets while advancing the Target 1 scoping study," chief executive officer John Skeet said.

Mithril's Copalquin District Scale

According to akta.pro company records, Mithril Silver and Gold is a Melbourne-based explorer founded in 2020 with a pre-revenue revenue estimate. The Copalquin Mining District comprises five contiguous mining concessions spanning 70 km² within Mexico's Sierra Madre Gold-Silver Trend, hosting 298 historic mines and workings across a 10 km by 7 km area.

Target 1 hosts an indicated mineral resource estimate of 464,000 ounces of gold equivalent and an inferred estimate of 151,000oz, based on mining-shape-constrained estimates that include expected dilution. Mithril has drilled 24,181m of its budgeted 25,000m Copalquin program for 2026, with two rigs operating.

Copalquin Resource Filings Earlier in 2026

Mithril filed a National Instrument 43-101 technical report on August 17, 2026, formalizing an upgraded mineral resource estimate for the Copalquin Property in Durango, Mexico, Kalkine reported. The same filing covered the upgraded estimate for the Target 1 deposit, TradingView reported on August 17, 2026.

In August 2026, Mithril was advancing Copalquin with drilling programs targeting resource growth at Target 1 and Target 3, Kalkine reported on August 11, 2026.

Target 1 Study Timing

A scoping study and preliminary economic assessment for Target 1 are underway with completion targeted for early 2027. The projected structure remains untested for about 400m northwest towards the Target 1 Refugio area and another 400m southeast towards San Manuel, leaving a potential 1.5-kilometre corridor for investigation.