Northwire Canada EditionThursday, November 12, 2026
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Gold 3,864.10 −3.4% Silver 49.87 −4.1% Copper 6.16 −2.0% Oil 86.61 +0.1% Palladium 981.75 −6.2% BIG 0.940 −1.1% VCG 1.10 +0.0% SCD 0.150 +3.5% GAL 0.370 −0.7% SAG 0.640 −3.0% VIZ 0.195 +0.0% SAGA 0.375 −6.2% ZEN 0.530 −3.6% TDG 0.490 +0.0% GDP 0.250 +8.7% PDN 8.41 +0.0% FL 0.355 −1.4% RIO 2.57 −3.8% COSA 0.280 −9.7% DML 2.98 −4.6% VCU 0.730 −5.2% Gold 3,864.10 −3.4% Silver 49.87 −4.1% Copper 6.16 −2.0% Oil 86.61 +0.1% Palladium 981.75 −6.2% BIG 0.940 −1.1% VCG 1.10 +0.0% SCD 0.150 +3.5% GAL 0.370 −0.7% SAG 0.640 −3.0% VIZ 0.195 +0.0% SAGA 0.375 −6.2% ZEN 0.530 −3.6% TDG 0.490 +0.0% GDP 0.250 +8.7% PDN 8.41 +0.0% FL 0.355 −1.4% RIO 2.57 −3.8% COSA 0.280 −9.7% DML 2.98 −4.6% VCU 0.730 −5.2%
Drill Results

Mithril Drills High-Grade Gold-Silver At Target 1 And Further Expands The District Scale, Copalquin, Mexico

Mithril Taps High-Grade Deep Extensions in Mexico as 25,000-Meter Drill Blitz Gains Speed

By The Northwire Desk — AI Analysis Jan 20, 2026 · 07:30 MSG · 0.52 Mithril Silver and Gold Limited
Executive Summary

The news release dated January 20, 2026, reports high-grade gold and silver drilling results from Target 1 at the Copalquin District in Durango, Mexico. Key intercepts include hole MTH-RE25-54, which returned 1.35 meters at 21.9 g/t gold and 357 g/t silver from 142.75 meters. Another notable intercept in hole MTH-LS25-53 showed 0.50 meters at 9.60 g/t gold and 612 g/t silver within a broader mineralized interval. These results are part of a massive 25,000-meter drilling program planned for the first half of 2026. Management explicitly stated that drilling on the western side of Target 1 has confirmed a 300-meter down-dip extension of the Refugio structure, indicating vertical continuity and substantial scope to expand the current resource model.

Material Impact
  • Resource Growth: The 300-meter down-dip extension is highly material as it provides the physical evidence needed to expand the upcoming Target 1 Mineral Resource Estimate (MRE) update. By confirming vertical continuity, the company is proving that the system is deeper than previously modeled.
  • Grade Consistency: The intercepts (e.g., 21.9 g/t gold) significantly exceed the current average resource grade of 4.80 g/t gold. This suggests the potential for the resource to not only grow in tonnage but also improve in weighted average grade.
  • District Scale Validation: The CEO’s comments regarding "pervasive hydrothermal alteration" and "feeder zones" support the geological theory that Copalquin is a large-scale, long-lived epithermal system rather than a series of isolated pockets.
  • Operational Momentum: The company has successfully scaled from one to three drill rigs within six months, and the transition from exploration to resource expansion at Target 1 is progressing on schedule.
MSG · Price
Company Overview

Mithril Silver and Gold is an explorer/developer focused on the Copalquin District in the Sierra Madre trend of Mexico. The property covers 70 square kilometers and contains over 298 historic mines and workings. - Flagship Project: Copalquin District. - Stage: Advanced exploration and resource development. - Current Maiden Resource: 2.41 million tonnes @ 6.81 g/t AuEq for 529,000 ounces (Indicated and Inferred). - Metallurgical Recovery: High recoveries of 96% gold and 91% silver via conventional processing.

Read the original news release →

More from Mithril Silver and Gold Limited

Oct 30, 2026 · 07:30

Mithril confirms 700 metres of strike along narrow 0.5 to 1.15 metre intervals at its project.

Drill Results Oct 28, 2026 · 07:30

Mithril’s Copalquin Target 4 drilling yielded high-grade silver-gold, prompting the launch of a scoping study for the project.

Drill Results Aug 27, 2026 · 07:30

Mithril identified four new targets at Copalquin that are wider and higher-grade than the project's anchor discovery.

Resource Estimate Aug 17, 2026 · 15:50

Mithril files an administrative update for its Target 1 resource upgrade, confirming no new data was added to the deposit.

Resource Estimate Jul 31, 2026 · 07:30

Mithril’s Copalquin MRE upgrade boosts Indicated resources, though cash burn and price downtrends weigh on sentiment.

Resource Estimate 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