Northwire Canada EditionMonday, July 27, 2026
Sign inSubscribe
Northwire
⌕
B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9% B 0.150 +0.0% IFOS 2.28 −2.6% IMM 0.060 +0.0% ROCK 3.38 −1.7% NVX 0.250 −7.4% HAR 0.050 +0.0% YGT 0.175 +0.0% GEN 0.070 −nan% CRB 0.040 +14.3% MSA 7.07 +2.2% AEM 204.81 +0.7% OPW 0.105 +5.0% GRL 0.275 −1.8% AIS 0.150 +0.0% CUU 0.580 −1.7% SOMA 0.720 +5.9%
Drill Results

Mithril Silver And Gold September 2025 Quarterly Activites Report Accelerating Exploration Progress

By The Northwire Desk — AI Analysis Oct 30, 2025 · 18:55 MSG · 0.53 Mithril Silver and Gold Limited
MSG · Price

Executive Summary

  • Mithril reported multiple high‑grade gold–silver intercepts across Targets 1, 3, 5 and 6 in the Copalquin District, including a 7.19 g/t Au / 260 g/t Ag over 8.03 m (Target 1) and a 0.57 m interval of 6.40 g/t Au / 4,400 g/t Ag (Zaragoza).
  • The company completed a C$11.5 M private placement in July 2025, ending the quarter with A$18.3 M cash and no debt, positioning it to fund an accelerated 2026 exploration program.
  • Exploration expenditure for Q3 2025 was A$4.87 M, focused entirely on Copalquin; assay results from over 30 channel‑sampling intervals were released, highlighting new Target 6 (up to 57.8 g/t Au).

Key Details

  • Drilling Results – Target 1
  • MTH‑RE25‑45: 7.19 g/t Au, 260 g/t Ag over 8.03 m from 257.72 m.
  • MTH‑LS25‑36: 8.63 g/t Au, 41.2 g/t Ag over 3.3 m from 169.7 m (including 0.5 m @ 48.85 g/t Au, 91.55 g/t Ag).
  • MTH‑LS25‑35: 1.1 m @ 9.95 g/t Au, 44.6 g/t Ag from 156.9 m.

  • MTH‑ZG25‑37 (Zaragoza): 0.57 m @ 6.40 g/t Au, 4,400 g/t Ag from 342.4 m; 0.66 m @ 3.49 g/t Au, 127 g/t Ag from 389.1 m.

  • Drilling Results – Target 5

  • 12 holes completed (assays pending).

  • Historic channel sample at Tasolera: 3,300 g/t Ag, 2.0 g/t Au over 1.3 m.

  • Channel Sampling Highlights

  • Target 6 (Santa Cruz historic mine): 0.70 m @ 57.8 g/t Au, 2,120 g/t Ag; 0.70 m @ 23.2 g/t Au, 755 g/t Ag.

  • Target 5: Multiple intervals up to 27.9 g/t Au (La Maquina) and 9.60 g/t Au, 608 g/t Ag (La Cucaracha).

  • Resource Update

  • Resource drilling and 3‑D modelling at Target 1 ongoing; full resource update expected early 2026.

  • Existing JORC resource (Nov 2021) remains: Indicated 691 kt @ 5.43 g/t Au, 114 g/t Ag (121 koz Au, 2,538 koz Ag); Inferred 1,725 kt @ 4.55 g/t Au, 152 g/t Ag.

  • Financing

  • Private placement: C$11.5 M gross proceeds (July 2025), before costs.

  • End‑quarter cash balance: A$18.3 M; debt‑free.

  • Exploration Expenditure

  • Q3 2025 spend: A$4.87 M, all allocated to Copalquin District activities.

  • Corporate Actions

  • Share placement completed (C$11.5 M).
  • Divestment of remaining interest in Lignum Dam tenements (WA) finalized.

  • Option to acquire remaining 50 % of Copalqin concessions by paying US$10 M before 7 Aug 2028 (extension granted).

  • Upcoming Milestones

  • Anticipated receipt of pending assay results for Target 1, 5 and other holes.
  • Resource update drilling slated for early 2026.
  • Continued accelerated exploration program into 2026 with two drills operating and a third drill rig planned for Target 3.

Notable Quotes

  • “The September quarter marked another strong period of progress… we anticipate significant news flow for the rest of the year…” – John Skeet, Managing Director & CEO

Prepared based on the disclosed quarterly activities report.

Read the original news release →

More from Mithril Silver and Gold Limited

Jun 30, 2026 · 07:31

Mithril Silver upgrades its target resource to 75% indicated status amid broader market pressures and exploration-stage valuation discounts.

Resource Estimate Jun 10, 2026 · 07:31

Mithril Silver & Gold reports high-grade gold-silver intersections at Target 1 ahead of a late-june resource update.

Drill Results May 12, 2026 · 07:30

Mithril drills bonanza-grade silver-gold at Refugio West, extending footprint 300m west before June resource update; stock hovers near year lows as funding overhang persists.

Drill Results Apr 28, 2026 · 22:01

Mithril Confirms High-Grade Target 5 Results, Cash Position Remains Strong Despite Exploration Spend

Drill Results Apr 09, 2026 · 07:31

“Copalquin’s high‑grade gold‑silver veins expand, bolstering the district‑scale play”

Drill Results Feb 25, 2026 · 07:30

Mithril Unlocks Historic Trends at La Dura as District-Scale Ambitions Move Beyond Flagship Copalquin

Drill Results