Mithril Silver And Gold December 2025 Quarterly Report Continued Exploration Success
Mithril Expands Footprint Beyond Core Resource as Target 5 Silver Success Validates District-Scale Ambitions
The December 2025 Quarterly Activities and Cash Flow Report, released January 30, 2026, details significant operational progress at the Copalquin Gold-Silver Project in Durango, Mexico. Key highlights include the successful expansion of Target 1 mineralization by over 30% through drill holes MTH-RE25-44 (7.2m @ 2.78 g/t Au) and MTH-RE25-45 (8.03m @ 7.19 g/t Au). Maiden drilling at Target 5 (Apomal) confirmed a new silver-dominant system with intercepts including 2.75m @ 2.28 g/t Au. Furthermore, the company commenced drilling at Target 3 in January 2026. Corporate developments include the acquisition of the adjacent 2,052-hectare La Dura mining concessions for US$4 million over four years. Financially, Mithril maintained a cash position of A$14.1 million as of December 31, 2025, after an exploration expenditure of A$3.88 million for the quarter.
The most recent report is materially positive for three reasons: - Resource Expansion: The 30% strike expansion at Target 1 directly increases the volume of the upcoming Mineral Resource Estimate (MRE) update, likely moving the project closer to the "multi-million ounce" target management has signaled. - Validation of New Targets: Maiden success at Target 5 (Apomal) proves that mineralization is not limited to the original discovery area, validating the "district-scale" model across the 70km2 concession. - Strategic Land Accretion: The acquisition of La Dura for a relatively low upfront cost provides high-value optionality immediately adjacent to current operations, utilizing existing infrastructure.
Mithril Silver and Gold is an explorer/developer focused on the Copalquin District in the Sierra Madre trend of Mexico. The project covers 70km2 containing over 100 historic underground mines. The flagship area is Target 1 (El Refugio-La Soledad), which hosts a high-grade epithermal system. The company aims to define a multi-million-ounce gold-silver resource suitable for conventional underground mining.