Mithril Provides Exploration Update Over Multiple Targets, Copalquin Silver-Gold Project, Mexico
Mithril Maps Out District Potential as Target 5 Extends Silver-Gold Footprint in Sierra Madre
The most recent news release (February 11, 2026) provides an exploration update for the Copalquin Silver-Gold Project in Mexico. Key highlights include: - Confirmation of a large silver-rich target at Target 5 (Apomal) covering 9.6 km² with a 1.5 km mineralized corridor. - Identification of a mineralized zone at Apomal over a 350m strike length. - Commencement of Phase IV drilling at Target 1 (~3,000m) for an upcoming resource update; the structure has been extended 300m west and remains open. - Initiation of maiden drilling at Target 3. - Completion of aerial magnetic surveys over Copalquin, with surveys in progress at the newly acquired La Dura concessions. - Commitment to an aggressive 2026 program with 25,000m of drilling planned for the first 6-8 months.
The news is Material - Positive for the following reasons: - District Validation: Results from Target 5 and the commencement of drilling at Target 3 transition Mithril from a single-asset story (Target 1) to a district-scale exploration play. - Resource Growth Potential: The 300m western extension at Target 1 suggests the upcoming Mineral Resource Estimate (MRE) update could see a significant increase in tonnage. - Operational Momentum: Mobilizing three rigs and committing to a 25,000m program demonstrates that the company is effectively deploying its treasury to move the project toward a critical mass of ounces. - Discovery Continuity: Intersecting high-grade mineralization (e.g., 4.5 g/t Au over 1.25m in AP25-006) at a maiden target confirms the fertility of the broader district beyond the original discovery area.
Mithril is focused on the Copalquin District in Durango, Mexico. - Flagship Project: Copalquin (70 km²). It is a high-grade epithermal gold-silver system. - Resource: Maiden JORC (2021) of 2.4 Mt @ 6.81 g/t AuEq for 529,000 oz AuEq. - Development Stage: Exploration/Resource expansion. Concept studies support conventional underground mining with high recoveries (96% Au, 91% Ag). - Recent Acquisition: La Dura property (adjacent to Copalquin), increasing the land package and target pipeline.