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
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.
- 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.
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.