Original News Release
Capitan Silver Intersects High-Grade Silver Equivalent Mineralization at All Priority Target Areas
Vancouver, British Columbia--(Newsfile Corp. - September 14, 2026) - Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) ("Capitan" or "the Company") is pleased to report additional results from its 60,000-metre drill program at its Cruz de Plata silver-gold project, located in Durango, Mexico. The Company is reporting assay results from thirty-five (35) drill holes.
Highlights:
Capitan's Jesus Maria Silver Trend Expands Drilled Strike Length to 2.8 km: Drilling continues to expand silver mineralization both at depth and on strike along the continuous 2.8 km Jesus Maria Silver Trend, with the Company returning multiple high-grade intercepts from all three target areas (See Figure 1)
Two (2) New High-Grade Silver Zones Discovered at Depth, East of the Peñoles Fault: Drill holes 26-ERRC-63 and 26-SRRC-32 represent two (2) of the widest and highest-grade intervals reported in this target area; both zones remain open along strike and at depth (see Figure 1, Target B)
Drill highlights include:
848.0 g/t AgEq over 1.5 m, within a wider interval of 29.0 m of 181.4 g/t AgEq, as well as a lower zone which returned 429.9 g/t AgEq over 1.5 m, within a wider zone of 3.0 m of 340.5 g/t AgEq in drill hole26-ERRC-63
Drill hole 26-ERRC-63 intersected a 70 m wide zone of mineralization (see Figure 2)
889.9 g/t AgEq over 1.5 m, within a wider interval of 27.4 m of 142.4 g/t AgEq and a lower zone of 12.2 m of 63.6 g/t AgEq in drill hole 26-SRRC-32
Drill hole 26-SRRC-32 intersected six (6) silver mineralized zones (see Figure 3)
1,363.1 g/t AgEq over 1.1 m, within a wider interval of 3.1 m of 731.3 g/t AgEq in an upper zone, with the middle zone returning 389.7 g/t AgEq over 1.6 m and 288.6 g/t AgEq over 1.3 m, within a wider interval of 11.6 m of 173.5 g/t AgEq and a lower zone of 198.8 g/t AgEq over 1 m, within 6.3 m of 82.6 g/t AgEq in drill hole 26-JMDD-09
1,123.6 g/t AgEq over 1.0 m and 597.2 g/t AgEq over 1.1 m, within a wider interval of 6.0 m of 125.3 g/t AgEq and a third mineralized zone which intersected 143.9 g/t AgEq over 1.8 m, within a wider interval 25.4 m of 42.8 g/t AgEq in drill hole 26-ERDD-14
368.9 g/t AgEq over 4.3 m, within a wider interval of 18.1 m of 159.2 g/t AgEq in drill hole 26-JMDD-06
798.7 g/t AgEq over 1.0 m, within a wider interval of 11.1 m of 192 g/t AgEq in drill hole 26-JMDD-08
756.6 g/t AgEq over 2.0 m, within a wider interval of 5.3 m of 316.8 g/t AgEq in drill hole 26-ERDD-13
632.2 g/t AgEq over 1.5 m, within a wider interval of 5.3 m of 313.7 g/t AgEq in drill hole 26-JMDD-04
648.2 g/t AgEq over 1.1 m, within a wider interval of 6.4 m of 203.1 g/t AgEq in drill hole 26-ERDD-18
Upcoming Catalysts:
Assays pending for 78 drill holes in multiple priority targets: 31 core, 47 reverse circulation ("RC") holes, with more arriving weekly (see new target drill plan map in Figure 7)
Acquiring new structural data: Pilot Televiewer Survey has commenced
Alberto Orozco, CEO of Capitan Silver, commented:
"I'm very pleased with the results from our 2026 drill program. The footprint of the Cruz de Plata continues to expand and confirms our thesis that we have a large, silver-rich mineralized system. Our most recent batch of assay results have returned an abundance of high-grade silver intercepts, which not only expand known mineralization to 2.8 km along the Jesus Maria Silver Trend, but also expand the mineralized envelope deeper. Most significant - and encouraging - is the fact that these results have also encountered high-grade mineralization in all three of our major target areas, which reinforces our confidence in the robustness and large-scale potential of this asset."
Figure 1: Cruz de Plata Plan Map
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Discussion of 2026 Drill Program and Results
The 2026 drill program at the Cruz de Plata project is fully ramped up, with four (4) drill rigs currently operating at site. Drilling through the late spring and summer focused on extending known zones of high-grade silver mineralization at depth over the entire strike length of the Jesus Maria Silver Trend (see Figure 1, Targets A, B, and C). This phase of drilling was executed primarily with diamond drilling, with some supporting RC holes. Down-dip step-outs varied between 35 to 150 m.
The remainder of the 60,000 m program for this area is focused on drilling the strike length of the Jesus Maria Silver Trend to a depth of 500 m vertically from surface with down-dip step outs increasing to 80 to 175 m with diamond drilling. The RC rig is now fully dedicated to drilling newly-permitted targets and has moved from a single to a double shift to increase the drill rate for the remainder of the program.
Drill Results: Target Area B
Recent drilling at Target Area B has resulted in the discovery of two (2) new high-grade zones of silver mineralization at depth, with grades approaching bonanza levels starting to appear in drilling.
Drill highlights from Target Area B include:
Drill hole 26-ERRC-63 intersected a 70 m wide zone of mineralization (see Figure 2), that includes a number of reported mineralized intervals:
848.0 g/t AgEq over 1.5 m, within a wider interval of 29. 0 m of 181.4 g/t AgEq, as well as a lower zone which returned 429.9 g/t AgEq over 1.5 m, within a wider zone of 3.0 m of 340.5 g/t AgEq
Drill hole 26-SRRC-32 intersected six (6) separate silver mineralized zones (see Figure 3). This includes:
889.9 g/t AgEq over 1.5 m, within a wider interval of 27.4 m of 142.4 g/t AgEq and a lower zone of 12.2 m of 63.6 g/t AgEq
Drill hole 26-ERRC-63 was drilled proximal to the hanging wall of the Peñoles Fault, which has demonstrated to be a controlling structure for mineralization on the stratigraphically higher west side of the fault (see previously reported drill holes 25-ERRC-12, 26, 35, 37).
This drill hole returned one of the most significant intersections of silver equivalent mineralization to date along this portion of the Jesus Maria Silver Trend, returning multiple intervals including an upper zone which returned 410.7 g/t AgEq over 1.5 m within a wider zone of 3.0 m of 327.4 g/t AgEq, 848 g/t AgEq over 1.5m, within a wider zone of 6.1 m of 429.6 g/t AgEq, all within a wider interval of 29 m of 181.4 g/t AgEq. The lower zone contained 429.9 g/t AgEq over 1.5 m, within a wider zone of 3.0 m of 340.5 g/t AgEq. This new high-grade zone remains open to expansion down-dip to the south and along strike to the east, with follow-up drilling currently being coordinated.
Figure 2: Cross-section of drill hole 26-ERRC-63
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Drill hole 26-SRRC-32 intersected the second high-grade zone of silver mineralization in Target B in the vicinity of the historic San Rafael Mine. The hole returned six zones of mineralization (see Figure 3), of which the most significant was a lower zone (labeled as 6 in Figure 3), which contains 889.9 g/t AgEq over 1.5 m, within a wider zone of 3.0 m of 707 g/t AgEq, 107.7 g/t AgEq over 3.0 m and 197.1 g/t AgEq over 3.0 m, all within a wider interval of 27.4 m of 142.4 g/t AgEq.
Figure 3: Cross-section of drill hole 26-SRRC-32
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These results confirm the Company's current working geological thesis that this portion of the Jesus Maria Silver Trend has been dropped down several hundred metres by the Peñoles Fault, preserving the upper portions of the vertically zoned hydrothermal system, which is generally more gold dominated, and characterized by more widespread silica alteration and boiling textures in the higher, near surface portions. As exploration has continued to expand mineralization to depth, a transition to high-grade silver mineralization has started to evolve, with mineralization wide open to expansion at depth over this portion of the trend.
Drill Results: Target Area C
Drilling at Target Area C continued to return encouraging results, with drilling focused on extending mineralization down-dip from known high-grade zones in the vicinity of the historic Jesus Maria Mine.
Drill holes 26-JMDD-04, 06, 07, 08, 09 and 10 all returned significant intervals of silver mineralization, with all holes reporting values more than 300 g/t AgEq, with bonanza grades greater than 1,000 g/t AgEq returned in drill hole 26-JMDD-09 (see Table 1 and Figure 4). All drill holes extended mineralization between 35 and 150 m down-dip from previously reported intersections.
Drill highlights from Target Area C include:
1,363.1 g/t AgEq over 1.1 m, within a wider interval of 3.1 m of 731.3 g/t AgEq in an upper zone, with the middle zone returning 389.7 g/t AgEq over 1.6 m and 288.6 g/t AgEq over 1.3 m, within a wider interval of 11.6 m of 173.5 g/t AgEq and a lower zone of 198.8 g/t AgEq over 1 m, within 6.3 m of 82.6 g/t AgEq in drill hole 26-JMDD-09
798.7 g/t AgEq over 1.0 m, within a wider interval of 11.1 m of 192 g/t AgEq in drill hole 26-JMDD-08
632.2 g/t AgEq over 1.5m, within a wider interval of 5.3 m of 313.7 g/t AgEq in drill hole 26-JMDD-04
368.9 g/t AgEq over 4.3 m, within a wider interval of 18.1 m of 159.3 g/t AgEq in drill hole 26-JMDD-06
Figure 4: Cross-section of drill hole 26-JMDD-09
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Drill Results: Target Area A
At Target Area A, diamond core drilling continued to expand the main Jesus Maria Vein down-dip from the historic El Refugio Mine. The primary goal of this drilling is to extend previously reported high-grade silver mineralization to depth, with the secondary goal of exploring/infilling areas with poor drill density in the vicinity of the Target C and Target A boundary.
The best intercept in this zone was in drill hole 26-ERDD-14, which intersected up to 1,123.6 g/t AgEq over 1.0 m. Five of the holes returned grades in excess of 500 g/t AgEq, with the majority of the holes intersecting values in excess of 200 g/t AgEq.
Drill highlights from Target Area A include:
1,123.6 g/t AgEq over 1.0 m and 597.2 g/t AgEq over 1.1 m, within a wider interval of 6.0 m of 125.3 g/t AgEq and a third mineralized zone which intersected 143.9 g/t AgEq over 1.8 m, within a wider interval 25.4 m of 42.8 g/t AgEq in drill hole 26-ERDD-14
648.2 g/t AgEq over 1.1 m, within a wider interval of 6.4 m of 203.1 g/t AgEq in drill hole 26-ERDD-18
756.6 g/t AgEq over 2.0 m, within a wider interval of 5.3 m of 316.8 g/t AgEq in drill hole 26-ERDD-13
643.1 g/t AgEq over 0.9 m in drill hole 26-ERDD-23
538.7 g/t AgEq over 1.7 m, within a wider interval of 5.2 m of 285.2 g/t AgEq in drill hole 26-ERDD-27
305.5 g/t AgEq over 1.3 m, within a wider interval of 25.6 m of 85.0 g/t AgEq in drill hole 26-ERDD-29
Drilling at Target area A continues to extend mineralization at depth with base metal tenors continuing to increase as drilling targets deeper and higher temperature portions of the mineralized system. The Company anticipates base metals tenors to continue to increase at depth, similar to what is seen to the west at the Jesus Maria Mine area.
Figure 5: Cross-section of drill hole 26-ERDD-18
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Figure 6: Long-Section of Jesus Maria Silver Trend
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Figure 7: Cruz de Plata Plan Map with New Target Drilling
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Table 1: Drill Results
Hole ID From
(m) To
(m) Interval
(m) Ag Eq Rec
(g/t) Ag
(ppm) Au
(ppm) Pb
(%) Zn
(%)
26-ERDD-11 / TARGET A
Interval 34.9 36.3 1.4 28.10 12.00 0.240 0.001 0.009
Interval 41.7 43.7 2.0 30.06 28.00 0.046 0.004 0.013
Interval 97.9 99.0 1.1 31.54 21.00 0.163 0.006 0.012
Interval 106.8 107.9 1.1 45.09 38.00 0.128 0.006 0.012
Interval 181.1 182.5 1.4 110.55 100.00 0.218 0.024 0.025
Interval 216.9 234.3 17.4 95.84 68.74 0.074 0.216 0.589
including 222.4 225.2 2.8 153.09 73.00 0.096 0.725 1.690
including 226.7 230.7 4.0 141.72 126.50 0.063 0.107 0.456
including 233.2 234.3 1.1 197.78 192.00 0.111 0.109 0.194
Interval 239.7 240.9 1.2 40.79 32.00 0.147 0.009 0.010
Interval 249.4 251.4 2.0 31.63 16.00 0.050 0.039 0.354
Interval 310.9 312.9 2.0 33.77 15.00 0.003 0.051 0.531
Interval 335.9 336.9 1.0 45.91 21.00 0.037 0.254 0.485
26-ERDD-12 / TARGET A
Interval 64.4 66.5 2.1 35.61 23.43 0.184 0.003 0.024
Interval 95.9 96.9 1.0 33.58 6.00 0.400 0.002 0.011
Interval 201.7 224.6 22.9 91.81 71.29 0.202 0.166 0.183
including 203.7 204.7 1.0 118.40 70.00 0.302 0.694 0.363
including 209.5 212.8 3.3 222.00 201.94 0.286 0.205 0.198
including 221.0 224.6 3.6 135.07 114.72 0.231 0.162 0.200
26-ERDD-13 / TARGET A
Interval 97.4 98.4 1.0 38.81 17.00 0.326 0.004 0.009
Interval 120.0 125.3 5.3 316.82 316.94 0.201 0.049 0.109
including 122.0 124.0 2.0 756.57 781.00 0.216 0.103 0.137
Interval 200.2 204.8 4.6 128.18 130.96 0.035 0.054 0.034
including 201.8 202.8 1.0 302.20 314.00 0.039 0.112 0.036
Interval 226.0 236.3 10.3 54.72 31.58 0.132 0.151 0.344
including 228.0 229.0 1.0 146.19 83.00 0.168 0.380 1.350
Interval 255.0 261.4 6.4 35.38 14.88 0.057 0.182 0.364
26-ERDD-14 / TARGET A
interval 72.9 76.0 3.1 42.71 16.97 0.380 0.005 0.015
interval 82.0 83.4 1.4 27.89 11.00 0.250 0.002 0.008
interval 131.0 137.0 6.0 125.26 126.20 0.081 0.009 0.023
including 135.9 137.0 1.1 597.17 627.00 0.071 0.035 0.056
interval 141.0 143.0 2.0 87.46 87.00 0.062 0.016 0.029
interval 190.7 192.7 2.0 153.05 159.00 0.030 0.035 0.016
interval 200.6 201.6 1.0 1,123.63 1,172.00 0.079 0.275 0.258
interval 222.0 247.4 25.4 42.81 33.50 0.065 0.041 0.167
including 245.6 247.4 1.8 143.86 148.00 0.027 0.035 0.056
interval 292.9 300.1 7.2 43.64 29.31 0.004 0.279 0.235
26-ERDD-15 / TARGET A
interval 20.4 21.6 1.2 53.39 36.00 0.275 0.010 0.011
interval 41.4 42.4 1.0 25.22 18.00 0.115 0.002 0.008
interval 46.2 50.0 3.8 81.85 50.74 0.486 0.010 0.020
including 46.2 48.2 2.0 130.98 82.00 0.770 0.010 0.019
interval 57.0 59.0 2.0 38.13 38.00 0.023 0.004 0.021
interval 130.0 131.7 1.7 28.82 29.00 0.014 0.005 0.014
interval 136.0 137.7 1.7 29.81 20.00 0.141 0.018 0.023
interval 146.5 161.1 14.6 54.06 23.10 0.063 0.193 0.664
including 150.0 152.0 2.0 114.37 49.00 0.078 0.533 1.410
including 153.5 154.7 1.2 172.74 57.00 0.034 0.549 2.980
interval 173.0 175.0 2.0 64.20 46.00 0.169 0.178 0.127
interval 231.4 233.9 2.5 40.12 34.48 0.042 0.069 0.016
26-ERDD-16 / TARGET A
Interval 46.8 48.2 1.4 90.35 69.00 0.342 0.016 0.045
Interval 88.2 89.3 1.1 107.36 110.00 0.038 0.011 0.031
Interval 111.0 112.4 1.4 41.93 40.00 0.062 0.002 0.000
Interval 120.0 123.5 3.5 191.06 175.71 0.326 0.026 0.081
including 120.0 122.0 2.0 310.47 297.00 0.372 0.044 0.131
Interval 145.3 146.5 1.2 328.43 337.00 0.056 0.119 0.131
Interval 186.6 200.3 13.7 68.17 46.69 0.148 0.119 0.316
including 192.6 195.9 3.3 118.62 96.03 0.248 0.127 0.228
including 198.6 200.3 1.7 119.94 58.00 0.077 0.457 1.390
Interval 205.1 213.7 8.6 230.42 227.79 0.133 0.129 0.104
including 206.1 208.0 1.9 416.72 424.00 0.133 0.157 0.136
including 210.0 212.2 2.2 382.08 370.18 0.283 0.290 0.192
26-ERDD-17 / TARGET A
Interval 161.0 162.3 1.3 58.66 52.00 0.119 0.006 0.042
Interval 248.0 252.5 4.6 68.91 59.65 0.163 0.012 0.037
including 249.0 250.0 1.0 109.59 93.00 0.273 0.022 0.081
including 251.0 252.5 1.5 100.65 96.00 0.141 0.009 0.013
Interval 322.3 323.3 1.0 35.85 15.00 0.073 0.049 0.452
Interval 328.2 330.2 2.0 54.88 30.50 0.160 0.124 0.344
Interval 339.8 342.3 2.5 27.20 13.60 0.024 0.073 0.316
Interval 482.5 483.5 1.0 125.06 120.00 0.010 0.128 0.235
26-ERDD-18 / TARGET A
Interval 219.4 220.6 1.2 49.74 48.00 0.053 0.011 0.020
Interval 257.7 264.0 6.4 203.05 210.39 0.024 0.063 0.053
including 257.7 258.7 1.1 648.16 680.00 0.019 0.160 0.093
including 261.2 262.7 1.5 357.66 374.00 0.009 0.094 0.084
Interval 279.5 280.5 1.0 104.42 101.00 0.034 0.097 0.130
Interval 295.1 301.2 6.1 53.66 35.51 0.048 0.140 0.383
Interval 323.6 326.5 2.9 42.27 41.00 0.030 0.020 0.033
Interval 359.4 360.9 1.5 167.02 174.00 0.014 0.031 0.048
Interval 369.1 370.2 1.1 236.97 215.00 0.016 0.279 0.762
26-ERDD-20 / TARGET A
Interval 13.8 15.0 1.3 26.82 19.00 0.122 0.000 0.016
Interval 273.5 274.5 1.0 25.10 24.00 0.025 0.008 0.018
Interval 283.2 289.7 6.6 25.26 18.47 0.033 0.042 0.131
Interval 294.6 296.2 1.6 28.25 27.00 0.034 0.005 0.012
Interval 316.0 317.3 1.3 80.75 81.00 0.055 0.007 0.019
26-ERDD-21 / TARGET A
Interval 143.1 144.3 1.2 76.61 45.00 0.494 0.003 0.007
Interval 165.9 167.0 1.1 29.44 26.00 0.067 0.005 0.008
Interval 175.8 179.0 3.2 152.02 135.31 0.188 0.025 0.330
including 178.0 179.0 1.0 371.39 332.00 0.366 0.065 0.949
Interval 243.0 244.3 1.3 51.95 52.00 0.027 0.018 0.021
Interval 264.1 266.4 2.3 97.38 64.57 0.313 0.183 0.294
including 264.1 265.3 1.2 139.51 99.00 0.415 0.258 0.313
Interval 278.7 281.9 3.2 55.94 41.09 0.176 0.090 0.079
Interval 285.4 287.3 1.9 51.18 47.00 0.075 0.016 0.041
26-ERDD-22 / TARGET A
Interval 97.0 98.0 1.0 63.27 19.00 0.654 0.005 0.008
Interval 107.7 108.3 0.6 45.77 16.00 0.441 0.007 0.006
Interval 164.5 166.5 2.0 62.64 32.00 0.428 0.012 0.081
Interval 178.3 181.5 3.2 44.29 41.19 0.069 0.008 0.018
Interval 300.0 306.9 6.9 34.16 20.67 0.050 0.088 0.259
Interval 348.2 348.7 0.5 182.33 134.00 0.009 0.374 1.330
26-ERDD-23 / TARGET A
Interval 42.8 43.2 0.5 82.79 44.00 0.593 0.006 0.014
Interval 84.8 85.1 0.3 198.49 4.00 2.810 0.002 0.039
Interval 180.6 183.3 2.8 41.73 28.22 0.016 0.134 0.304
Interval 188.4 204.4 16.1 67.86 54.79 0.047 0.133 0.277
including 194.8 200.0 5.2 118.20 109.44 0.018 0.084 0.346
Interval 213.6 214.0 0.4 85.74 21.00 0.301 1.150 0.383
Interval 217.1 218.3 1.2 32.35 19.00 0.127 0.167 0.031
Interval 234.8 235.7 0.9 643.06 259.00 0.281 7.433 5.046
Interval 299.4 301.0 1.6 56.21 18.27 0.018 0.623 0.596
26-ERDD-24 / TARGET A
Interval 217.6 220.7 3.1 90.79 38.36 0.103 0.364 1.099
including 219.1 220.7 1.6 135.91 60.00 0.080 0.478 1.780
Interval 224.4 227.5 3.1 57.66 23.23 0.094 0.526 0.429
Interval 239.1 242.4 3.3 51.92 23.45 0.019 0.133 0.729
26-ERDD-25 / TARGET A
Interval 184.7 185.7 1.0 40.14 31.00 0.157 0.002 0.005
Interval 208.0 209.8 1.8 41.61 31.00 0.174 0.004 0.011
Interval 283.6 288.7 5.1 99.99 54.84 0.066 0.181 1.140
including 284.8 287.6 2.8 148.70 77.55 0.084 0.200 1.893
Interval 305.3 316.9 11.6 70.25 58.69 0.064 0.135 0.202
including 312.5 314.1 1.6 186.77 168.00 0.094 0.538 0.214
including 315.6 316.9 1.3 113.91 95.00 0.091 0.223 0.356
Interval 333.2 334.3 1.1 37.09 14.00 0.015 0.171 0.532
26-ERDD-27 / TARGET A
Interval 52.0 53.0 1.0 87.69 80.00 0.166 0.014 0.020
Interval 257.4 262.1 4.8 39.62 27.78 0.035 0.058 0.278
Interval 289.5 294.7 5.2 285.17 161.05 0.312 1.776 1.836
including 290.2 291.8 1.7 538.73 333.00 0.435 3.230 3.090
Interval 303.0 304.0 1.0 26.71 19.00 0.043 0.080 0.107
26-ERDD-28 / TARGET A
Interval 37.8 38.6 0.8 29.22 6.00 0.339 0.002 0.006
Interval 69.5 70.7 1.2 25.07 6.00 0.275 0.001 0.015
Interval 189.7 194.8 5.1 78.43 66.33 0.211 0.015 0.033
including 191.1 192.4 1.3 202.19 197.00 0.194 0.045 0.070
Interval 207.8 209.2 1.3 86.77 86.00 0.076 0.009 0.013
Interval 286.7 290.2 3.4 100.51 90.35 0.103 0.120 0.150
Interval 294.4 300.2 5.8 38.44 19.95 0.157 0.102 0.178
Interval 315.0 317.9 2.9 92.05 45.95 0.107 0.262 1.003
including 316.0 317.0 0.9 177.98 97.00 0.184 0.495 1.770
Interval 326.9 330.0 3.1 53.55 25.53 0.069 0.200 0.563
26-ERDD-29 / TARGET A
Interval 202.9 228.5 25.6 85.04 50.59 0.053 0.386 0.676
including 206.8 208.8 2.0 105.70 68.00 0.077 0.522 0.641
including 216.0 220.7 4.7 260.06 167.51 0.068 1.420 1.708
and including 217.9 219.1 1.3 305.53 254.00 0.040 1.910 0.307
including 223.6 225.0 1.4 108.22 83.00 0.097 0.115 0.596
26-ERRC-59 / TARGET B
Interval 7.6 12.2 4.6 40.54 41.33 0.016 0.003 0.015
Interval 39.6 41.1 1.5 25.34 24.00 0.034 0.002 0.011
Interval 57.9 59.4 1.5 29.62 15.00 0.217 0.002 0.016
Interval 123.4 129.5 6.1 42.85 28.75 0.224 0.003 0.011
Interval 153.9 161.5 7.6 104.38 100.20 0.135 0.012 0.017
including 153.9 157.0 3.0 226.27 228.00 0.153 0.026 0.022
Interval 167.6 176.8 9.1 40.59 29.67 0.163 0.007 0.038
including 167.6 169.2 1.5 118.04 113.00 0.125 0.013 0.084
Interval 193.5 202.7 9.1 33.91 23.83 0.146 0.010 0.035
Interval 240.8 245.4 4.6 26.36 24.00 0.045 0.003 0.017
26-ERRC-60 / TARGET B
Interval 22.9 24.4 1.5 94.01 95.00 0.050 0.002 0.036
Interval 108.2 109.7 1.5 50.74 48.00 0.061 0.005 0.038
Interval 137.2 138.7 1.5 29.22 29.00 0.023 0.003 0.009
Interval 147.8 149.4 1.5 34.50 27.00 0.129 0.002 0.005
Interval 163.1 166.1 3.0 34.74 20.50 0.171 0.011 0.100
Interval 214.9 217.9 3.0 38.17 29.00 0.138 0.007 0.037
Interval 274.3 277.4 3.0 44.17 39.50 0.058 0.027 0.067
26-ERRC-61 / TARGET B
Interval 7.6 9.1 1.5 28.95 29.00 0.010 0.004 0.027
Interval 12.2 13.7 1.5 34.38 33.00 0.034 0.002 0.028
Interval 36.6 38.1 1.5 42.96 45.00 0.003 0.005 0.010
Interval 57.9 59.4 1.5 96.10 99.00 0.038 0.003 0.010
Interval 118.9 132.6 13.7 97.74 94.56 0.102 0.015 0.043
including 121.9 131.1 9.1 125.62 123.67 0.103 0.020 0.052
Interval 164.6 166.1 1.5 38.33 30.00 0.140 0.004 0.012
Interval 169.2 170.7 1.5 27.79 24.00 0.070 0.002 0.011
Interval 178.3 182.9 4.6 38.49 38.00 0.028 0.007 0.018
Interval 198.1 199.6 1.5 35.38 24.00 0.141 0.020 0.075
26-ERRC-62 / TARGET B
Interval 50.3 53.3 3.0 74.57 74.00 0.058 0.003 0.029
including 50.3 51.8 1.5 122.11 123.00 0.077 0.004 0.032
Interval 57.9 62.5 4.6 25.76 18.67 0.112 0.002 0.013
Interval 106.7 111.3 4.6 101.99 100.33 0.101 0.008 0.016
including 108.2 109.7 1.5 180.72 182.00 0.125 0.014 0.019
Interval 125.0 126.5 1.5 29.70 22.00 0.117 0.007 0.023
Interval 140.2 141.7 1.5 32.54 29.00 0.066 0.007 0.016
Interval 146.3 147.8 1.5 63.10 64.00 0.031 0.008 0.017
Interval 158.5 167.6 9.1 34.94 28.17 0.109 0.005 0.025
Interval 196.6 199.6 3.0 64.47 56.00 0.127 0.016 0.078
Interval 251.5 254.5 3.0 64.80 58.00 0.140 0.004 0.017
26-ERRC-63 / TARGET B
Interval 141.7 170.7 29.0 181.42 170.21 0.293 0.013 0.026
including 141.7 144.8 3.0 178.38 184.50 0.049 0.031 0.021
including 146.3 149.4 3.0 327.37 295.50 0.694 0.015 0.042
and including 147.8 149.4 1.5 410.67 372.00 0.861 0.016 0.039
including 158.5 164.6 6.1 429.61 424.75 0.412 0.027 0.035
and including 161.5 163.1 1.5 847.97 869.00 0.410 0.043 0.050
including 166.1 167.6 1.5 206.32 153.00 0.897 0.005 0.019
Interval 179.8 193.5 13.7 100.39 97.11 0.117 0.012 0.020
including 189.0 192.0 3.0 340.46 344.50 0.204 0.041 0.043
and including 190.5 192.0 1.5 429.88 433.00 0.276 0.063 0.062
Interval 201.2 208.8 7.6 25.18 21.60 0.064 0.003 0.012
26-ERRC-68 / TARGET B
Interval 30.5 45.7 15.2 43.19 33.70 0.155 0.006 0.019
Interval 51.8 53.3 1.5 41.44 32.00 0.154 0.008 0.016
Interval 54.9 56.4 1.5 25.23 23.00 0.041 0.008 0.017
26-JMDD-04 / TARGET C
interval 45.0 46.9 1.9 40.80 32.00 0.143 0.013 0.015
interval 103.8 104.9 1.1 88.14 64.00 0.341 0.124 0.031
interval 110.0 111.6 1.6 41.12 29.00 0.108 0.013 0.178
interval 175.0 176.0 1.0 30.35 21.00 0.028 0.097 0.176
interval 183.7 189.0 5.3 313.74 161.89 0.220 1.869 2.762
including 185.7 189.0 3.3 470.90 246.36 0.349 2.733 4.073
and including 185.7 187.2 1.5 632.16 278.00 0.571 5.170 5.480
interval 205.0 206.0 1.0 39.23 14.00 0.315 0.033 0.102
26-JMDD-05 / TARGET C
interval 65.6 67.2 1.6 44.33 22.00 0.213 0.078 0.200
interval 79.0 80.0 1.0 34.52 34.00 0.003 0.039 0.038
interval 91.6 93.2 1.6 27.11 18.00 0.138 0.002 0.019
interval 95.9 97.0 1.1 37.21 26.00 0.150 0.022 0.054
interval 100.5 102.5 2.0 56.84 43.50 0.193 0.019 0.062
interval 138.9 151.6 12.7 86.15 26.55 0.271 0.471 0.862
including 144.0 146.0 2.0 149.16 42.00 0.251 0.675 2.160
interval 183.0 184.0 1.0 26.09 7.00 0.076 0.235 0.225
interval 204.0 205.0 1.0 124.15 15.00 0.614 0.087 1.920
26-JMDD-06 / TARGET C
interval 96.5 98.0 1.5 95.97 58.00 0.398 0.143 0.295
interval 115.1 116.7 1.6 77.38 70.00 0.127 0.031 0.058
interval 169.8 172.5 2.7 276.15 235.04 0.738 0.037 0.100
including 169.8 170.8 1.0 692.16 621.00 1.450 0.086 0.183
interval 176.1 182.6 6.5 83.03 18.78 0.914 0.022 0.056
including 176.1 177.1 1.0 237.16 22.00 3.110 0.044 0.037
including 179.6 181.4 1.8 112.09 31.00 1.150 0.029 0.089
interval 215.2 233.3 18.1 159.28 49.75 0.660 1.461 0.768
including 222.6 226.8 4.3 368.89 114.20 1.674 3.547 1.377
including 228.3 230.1 1.8 360.11 93.00 1.350 4.420 1.640
including 231.3 233.3 2.0 130.98 47.00 0.316 0.900 1.170
26-JMDD-07 / TARGET C
Interval 6.6 8.0 1.4 26.86 9.00 0.240 0.001 0.055
Interval 66.0 67.4 1.4 352.17 351.00 0.285 0.030 0.052
Interval 93.7 95.5 1.8 32.82 27.00 0.099 0.002 0.017
Interval 97.9 99.3 1.3 37.40 24.00 0.190 0.015 0.040
Interval 131.0 132.0 1.0 26.41 18.00 0.126 0.011 0.015
interval 229.3 235.9 6.5 36.38 18.24 0.113 0.091 0.262
interval 241.3 250.9 9.6 172.54 124.59 0.284 0.491 0.650
including 241.3 243.9 2.5 246.88 112.41 0.575 1.534 1.722
including 246.2 247.9 1.8 119.43 107.00 0.077 0.095 0.320
including 249.9 250.9 1.1 614.52 580.00 0.583 0.271 0.635
interval 285.5 291.0 5.6 37.08 2.64 0.481 0.021 0.027
26-JMDD-08 / TARGET C
Interval 18.8 19.8 1.1 126.70 1.00 1.820 0.001 0.015
Interval 69.3 70.8 1.5 99.98 99.00 0.092 0.005 0.013
Interval 262.4 267.7 5.3 50.52 44.17 0.058 0.065 0.094
including 262.4 263.5 1.1 109.74 113.00 0.031 0.021 0.023
Interval 274.8 285.9 11.1 191.97 98.34 0.133 1.190 1.674
including 274.8 275.8 1.0 171.78 106.00 0.381 0.661 0.805
including 276.8 281.4 4.6 365.01 173.37 0.128 2.533 3.590
and including 280.4 281.4 1.0 798.65 407.00 0.223 4.590 7.990
including 284.9 285.9 1.0 104.52 82.00 0.251 0.141 0.182
26-JMDD-09 / TARGET C
Interval 133.7 135.0 1.3 76.76 62.00 0.159 0.073 0.161
Interval 180.2 181.8 1.6 27.95 8.00 0.181 0.115 0.139
Interval 229.9 233.0 3.1 731.25 702.39 0.506 0.676 0.506
including 229.9 231.0 1.1 1,363.14 1,324.00 1.040 0.882 0.655
Interval 250.6 262.2 11.6 173.52 105.66 0.145 0.807 1.221
including 252.7 254.0 1.3 288.55 145.00 0.172 0.843 3.430
including 259.4 261.0 1.6 389.71 205.00 0.337 2.520 3.030
including 261.0 262.2 1.1 282.59 220.00 0.084 2.040 0.376
Interval 266.5 272.8 6.3 82.63 22.43 0.033 0.419 1.397
including 266.5 267.5 1.0 198.81 28.00 0.042 0.197 4.820
including 268.5 269.6 1.1 189.21 77.00 0.036 2.050 1.670
Interval 277.0 281.1 4.2 44.29 18.00 0.033 0.148 0.615
including 277.0 278.1 1.2 113.39 38.00 0.014 0.417 1.910
26-JMDD-10 / TARGET C
Interval 93.0 94.4 1.3 56.22 35.00 0.328 0.006 0.017
Interval 244.0 245.4 1.4 28.28 7.00 0.041 0.046 0.517
Interval 292.3 293.3 1.0 26.47 4.00 0.007 0.417 0.310
Interval 296.5 299.0 2.5 177.34 90.60 0.030 1.598 1.331
including 297.7 299.0 1.3 315.68 165.00 0.051 2.930 2.200
Interval 302.0 303.0 1.0 95.79 47.00 0.025 0.998 0.644
Interval 326.6 327.9 1.3 32.57 4.00 0.015 0.016 0.803
Interval 460.9 462.9 2.0 35.08 27.00 0.013 0.065 0.205
Interval 474.6 475.7 1.1 27.84 18.00 0.003 0.077 0.253
26-SRRC-28 / TARGET B
Interval 21.3 22.9 1.5 39.81 40.00 0.016 0.009 0.025
Interval 53.3 56.4 3.0 46.74 18.00 0.425 0.001 0.017
Interval 120.4 121.9 1.5 44.55 43.00 0.055 0.002 0.009
Interval 132.6 134.1 1.5 48.95 26.00 0.344 0.005 0.021
Interval 137.2 144.8 7.6 79.63 72.80 0.153 0.003 0.017
including 143.3 144.8 1.5 334.36 331.00 0.320 0.012 0.026
Interval 185.9 199.6 13.7 64.54 58.56 0.125 0.006 0.023
including 193.5 195.1 1.5 194.03 200.00 0.071 0.009 0.027
Interval 204.2 205.7 1.5 41.87 41.00 0.042 0.003 0.011
Interval 213.4 217.9 4.6 42.25 38.00 0.048 0.023 0.075
Interval 260.6 262.1 1.5 36.08 29.00 0.121 0.003 0.012
Interval 266.7 268.2 1.5 32.85 31.00 0.045 0.006 0.013
Interval 274.3 275.8 1.5 36.89 27.00 0.115 0.025 0.085
26-SRRC-29 / TARGET B
Interval 27.4 29.0 1.5 44.44 45.00 0.022 0.001 0.017
Interval 44.2 50.3 6.1 30.21 17.25 0.166 0.002 0.074
Interval 82.3 83.8 1.5 85.23 24.00 0.093 0.259 1.440
Interval 125.0 129.5 4.6 113.14 109.00 0.136 0.011 0.030
including 125.0 126.5 1.5 224.20 221.00 0.207 0.021 0.048
Interval 170.7 172.2 1.5 72.87 63.00 0.176 0.009 0.038
Interval 179.8 208.8 29.0 73.34 65.79 0.139 0.015 0.045
including 192.0 193.5 1.5 106.36 105.00 0.085 0.021 0.036
including 196.6 202.7 6.1 138.90 134.25 0.142 0.024 0.067
including 205.7 207.3 1.5 131.00 130.00 0.109 0.008 0.032
Interval 254.5 256.0 1.5 51.33 45.00 0.087 0.035 0.060
Interval 275.8 277.4 1.5 60.55 16.00 0.024 0.791 0.637
26-SRRC-32 / TARGET B
Interval 15.2 16.8 1.5 252.35 261.00 0.071 0.015 0.050
Interval 65.5 67.1 1.5 61.55 14.00 0.212 0.154 0.866
Interval 99.1 102.1 3.0 53.63 49.50 0.094 0.005 0.014
Interval 150.9 153.9 3.0 30.57 27.50 0.063 0.002 0.011
Interval 184.4 187.5 3.0 32.11 22.00 0.129 0.003 0.074
Interval 196.6 207.3 10.7 49.02 42.71 0.113 0.007 0.027
including 198.1 199.6 1.5 134.44 135.00 0.086 0.021 0.031
Interval 224.0 251.5 27.4 142.40 131.17 0.263 0.008 0.023
including 225.6 228.6 3.0 706.95 743.00 0.107 0.010 0.028
and including 225.6 227.1 1.5 889.89 938.00 0.098 0.014 0.031
including 234.7 237.7 3.0 107.65 90.00 0.319 0.010 0.024
including 239.3 242.3 3.0 197.07 159.00 0.673 0.027 0.017
Interval 263.7 269.7 6.1 37.01 16.25 0.309 0.002 0.012
Interval 278.9 291.1 12.2 63.61 15.00 0.710 0.003 0.017
including 281.9 283.5 1.5 86.32 13.00 1.070 0.003 0.012
26-SRRC-33 / TARGET B
Interval 51.8 53.3 1.5 70.58 72.00 0.029 0.003 0.025
Interval 57.9 59.4 1.5 36.59 34.00 0.056 0.002 0.022
Interval 131.1 138.7 7.6 46.59 43.60 0.063 0.006 0.032
Interval 170.7 172.2 1.5 90.03 89.00 0.080 0.007 0.020
Interval 176.8 178.3 1.5 32.78 26.00 0.099 0.005 0.041
Interval 182.9 199.6 16.8 71.36 53.91 0.285 0.005 0.028
including 195.1 198.1 3.0 114.21 74.00 0.636 0.008 0.021
Interval 214.9 228.6 13.7 53.02 40.89 0.194 0.006 0.031
including 225.6 227.1 1.5 101.62 87.00 0.256 0.011 0.056
Interval 233.2 243.8 10.7 137.02 128.29 0.221 0.012 0.026
including 236.2 237.7 1.5 528.81 541.00 0.256 0.036 0.049
Interval 253.0 254.5 1.5 28.67 26.00 0.053 0.004 0.014
26-SRRC-34 / TARGET B
Interval 131.1 132.6 1.5 33.23 22.00 0.180 0.001 0.004
Interval 234.7 246.9 12.2 42.85 35.25 0.135 0.003 0.009
including 234.7 236.2 1.5 104.18 100.00 0.142 0.007 0.007
Interval 251.5 253.0 1.5 32.47 30.00 0.055 0.002 0.013
Interval 254.5 256.0 1.5 25.52 12.00 0.204 0.001 0.005
Interval 288.0 289.6 1.5 34.72 5.00 0.431 0.002 0.009
Interval 301.8 306.3 4.6 67.36 11.00 0.824 0.002 0.007
Interval 310.9 313.9 3.0 42.75 14.50 0.419 0.002 0.007
Interval 345.9 352.0 6.1 54.73 9.50 0.660 0.002 0.010
Interval 361.2 370.3 9.1 28.77 5.50 0.336 0.001 0.013
Metal Recovery: Ag 94%, Au 86%, Pb 93.5%, Zn 92%
AgEq considers Ag, Au, Pb and Zn and calculated as follows: AgEq = Ag g/t + (80x Au g/t) + (0.003 x Pb g/t) + (0.0037 x Zn g/t). High grades have not been capped. RC and Diamond Core Drill samples have been analysed at SGS labs in Durango and Hermosillo using fire assay and Four-acid multi-element analysis with the following codes: GE-FAA30V6 and GEICP40Q12, with over assays using the following codes: GO_FAG37V for Au and Ag. QAQC: Capitan Silver maintains a rigorous QAQC program and inserts multiple standards, blanks and duplicates into the sample stream at regular intervals. Check Assays are performed at ALS laboratories in Zacatecas, Mexico. True widths along the Jesús María Trend are estimated to be 70-90% of the drilled width. At new drill targets/discoveries, true widths are unknown. Intervals are calculated at a 25 g/t AgEq cut-off and are cut at a maximum of 3 metres of internal dilution. Some numbers may not sum correctly due to rounding.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Marc Idziszek, P.Geo, Vice President Exploration of Capitan, and a "qualified person" (with the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects).
About Capitan Silver Corp.
Capitan Silver is defining a new high-grade silver system at its Cruz de Plata project, located in the heart of Mexico's primary silver belt. The Company is led by a proven and accomplished management team that has previously advanced three projects into production, on time and on budget. The Company has been diligent in maintaining a tight share structure and has one of the tightest share structures among its peer group, with the top three shareholders owning approximately 37% of the Company's share capital. Capitan Silver is fully funded and actively drilling at its Cruz de Plata silver project.
ON BEHALF OF CAPITAN SILVER CORP.
"Alberto Orozco"
Alberto Orozco, CEO
For Additional Information, Contact:
Alberto Orozco, CEO
Capitan Silver Corp.
[email protected] Greg DiTomaso, Investor Relations
Capitan Silver Corp.
[email protected]
Phone: (416) 433-2801
www.capitansilver.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, contained in this news release are forward-looking statements. These forward-looking statements, by their nature, require Capitan to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of future performance.
Forward-looking statements may be identified by the use of words or phrases such as "may", "will", "would", "could", "should", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", "objective", "potential", "target", "strategy", "project", "forecast", "outlook", "scheduled", "seek", "explore" and other similar terminology, as well as terms usually used in the future and the conditional, and the negatives thereof, or comparable terminology, are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements with respect to: expectations regarding the Company's 2026 drilling program at the Cruz de Plata project, including the planned 60,000-metre multi-rig program; anticipated timing and results of future assay results; the potential scale, continuity, and grade of mineralization at the Cruz de Plata project; the potential to expand known zones of mineralization; the prospectivity of the Cruz de Plata project and its exploration potential; management's beliefs regarding the mineralized system at Cruz de Plata; and the Company's strategy and exploration objectives.
The forward-looking statements contained in this news release are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and expectations regarding: the continued validity of exploration results and geological interpretations; the ability to complete planned exploration programs on time and within budget; the availability of financing for future exploration and development activities; commodity prices remaining at levels that support continued exploration; the ability to obtain and maintain all necessary permits and approvals; the accuracy of current mineral resource estimates; the continuity of mineralization between drill holes; and general economic and business conditions. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and the Company cannot assure investors that actual results will be consistent with these forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to: exploration and development risks, including risks related to the interpretation of geological data and exploration results; the uncertainty of mineral resource estimates; risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, pressures, cave-ins, flooding, and the risk of inadequate insurance or inability to obtain insurance; fluctuations in commodity prices; currency exchange rate fluctuations; risks related to obtaining and maintaining necessary permits and licenses; risks related to the Company's title to its mineral properties; risks related to the political and economic climate in Mexico; regulatory changes; reliance on key personnel; competition in the mining industry; risks related to the Company's ability to raise additional capital; dilution to existing shareholders; risks related to global economic conditions and market volatility; environmental risks and hazards; and other risks and uncertainties described in the Company's public filings.
The foregoing list of risks and uncertainties is not exhaustive. For a more complete discussion of the risk factors affecting the Company, readers are encouraged to review the Company's filings available on SEDAR+ (www.sedarplus.ca) under the Capitan's issuer profile.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314137
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