Northwire Canada EditionTuesday, September 15, 2026
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GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8% GOLD 4351.90 −1.3% SILVER 63.76 −2.2% COPPER 6.40 −2.3% OIL 101.39 +1.3% PALLADIUM 1296.50 −2.1% QGR 0.200 +0.0% MSC 0.015 −25.0% GENM 0.705 −0.7% URC 3.89 +0.0% SHL 0.400 +4.6% AZS 0.750 −8.5% FL 0.415 +0.0% HMMC 8.29 −1.1% NAR 0.260 −5.5% GCN 0.030 −14.3% RIO 3.54 −1.4% EVI 0.430 +2.4% CTV 0.110 −4.3% ECOR 3.10 −4.0% TLG 2.20 +0.0% UCU 2.59 +2.8%
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 →

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Drill Results