Mithril Silver and Gold Limited has intersected wide, high-grade silver and gold mineralisation at Target 4 within its district-scale Copalquin property in Durango State, Mexico.

Systematic drilling at the historic Copalquin Mine area has extended known mineralisation across the combined Copalquin-Zaragoza corridor to a strike length of 550 metres and 200 metres vertically. Drill hole CO26-001 returned 11.70 metres at 456 g/t AgEq from 22.0 metres, including 3.40 metres at 1,239 g/t AgEq from 28.4 metres, and a 0.60-metre interval grading 3,877 g/t AgEq from 31.2 metres.

Additional assay results from the program include hole CO26-002, which intersected 13.95 metres at 387 g/t AgEq from 88.85 metres, including a 1.00-metre section at 1,747 g/t AgEq from 97 metres. Hole CO26-003 returned 6.50 metres at 320 g/t AgEq from 93.4 metres, including 0.80 metres at 1,890 g/t AgEq from 97 metres.

The projected vein remains untested for 400 metres to the northwest toward Target 1 and 600 metres to the southeast toward Target 4. Mithril is executing a planned 25,000-metre drilling program across the Copalquin district during 2026. Drilling has recommenced at Target 4 to test the Copalquin-Zaragoza structure further to the southeast.

The company holds an exclusive option to acquire a 100% interest in the Copalquin mining concessions for US$10M payable on or before August 7, 2028.

“These results represent an important step forward in our progress at the historic Copalquin Mine area within this large, high-grade gold-silver system. What began as an area with limited geological understanding has progressed with potential to be a substantial, high-grade mineralised corridor, with drilling demonstrating strong gold and silver mineralisation over a substantial strike length and across multiple levels,” said John Skeet, Managing Director and CEO. “The combination of these broad mineralised intervals with exceptional high-grade intercepts at the Copalquin mine area and our results further along strike at Zaragoza is particularly positive. We are seeing how these discoveries potentially align within the larger Copalquin-Zaragoza Structure and connecting several historical mining areas across the district. Drilling has recommenced at Target 4 to test the structure to the southeast”

— John Skeet, Managing Director and CEO

The ongoing work forms part of Mithril's broader exploration campaign across its Durango State holdings.

Read the full announcement: WIDE, HIGH-GRADE HITS CONFIRM 550M STRIKE AT TARGET 4