Capitan Silver Announces Arrival of 3rd Drill Rig at the Cruz de Plata Project
Capitan Silver scales up to 60,000-meter "blitz" at Cruz de Plata as institutional backing secures multi-year exploration runway.
The most recent news (March 11, 2026) announces the arrival of a third drill rig at the Cruz de Plata project in Mexico. This is a component of a massive 60,000-meter drilling campaign for 2026—four times the size of the 2025 program. The drilling is segmented into three targets: Target A (expanding high-grade zones near the Peñoles Fault), Target B (testing surface continuity and eastern expansion toward San Rafael), and Target C (testing depth extensions). This follows a string of high-grade assay results reported in February 2026, including 2,451.1 g/t AgEq over 1.5m.
The news is Routine - Positive. While the scale of the 60,000m program is ambitious, the commencement and rig mobilization were previously signaled in the January 20, 2026, corporate update. - Operational Scaling: Moving from one rig to three confirms management's ability to execute the aggressive 2026 plan. - Validation of 2025 Results: The decision to quadruple drilling meters is a direct response to the high-grade "shoots" discovered in late 2025 (e.g., holes 25-ERRC-12 and 25-ERRC-38). - Resource Path: This volume of drilling is clearly intended to move the project toward a maiden NI 43-101 silver resource estimate, shifting the company from "discovery" to "delineation" phase.
Capitan Silver is focused on the Cruz de Plata project in Durango, Mexico. The project is an intermediate sulphidation epithermal system. - Flagship: Cruz de Plata hosts the Jesus Maria Silver Trend (high-grade veins) and the Capitan Hill Gold Deposit (bulk tonnage oxide). - Development: The company has consolidated the land package by 85% through deals with Fresnillo and has retired or contracted to eliminate major royalties, making the project "Royalty Free" for the operator.