Capitan Silver Intersects 1,130.1 g/t Silver Equivalent over 1.5 Metres, Within a Wider Zone of 240.5 g/t Silver Equivalent over 25.9 Metres at the Cruz De Plata Project
Massive 60,000-Meter Program Ignites as High-Grade Silver Shoots Expand at Cruz de Plata
The February 2, 2026, news release reports significant assay results from the tail end of the 2025 Reverse Circulation (RC) drill program at the Cruz de Plata project in Durango, Mexico. Key highlights include: - Hole 25-ERRC-34: Intersected 1,130.1 g/t Silver Equivalent (AgEq) over 1.5m, within a broader interval of 240.5 g/t AgEq over 25.9m. - New Discovery: The "Encarnación Zone" was identified in hole 25-ERRC-29, located 250m southeast of the main Jesús María Silver Trend, returning 90.3 g/t AgEq over 3m. - Operations Update: A massive 60,000-metre multi-rig drilling program for 2026 commenced on January 20, 2026. One core rig is on-site with two more expected shortly. - Backlog: 33 drill holes from the 2025 program still have pending assays.
The news is Material - Positive for several reasons: - Confirmation of High-Grade Continuity: The 1,130.1 g/t AgEq intercept confirms that high-grade "shoots" within the Jesús María trend are growing and remain open. For an exploration-stage company, demonstrating width (25.9m) alongside high-grade peaks is critical for future resource modeling. - System Scalability: The discovery of the Encarnación Zone suggests the mineralized footprint extends significantly beyond the previously defined 2.5km trend. This supports management's October 2025 claim that the system could encompass over 20km of mineralized structures. - Execution De-risking: Moving from a 15,000m program in 2025 to a 60,000m program in 2026 is an aggressive 400% increase. The ability to mobilize rigs immediately after closing a $29M financing indicates strong operational readiness. - Valuation Anchor: The results validate the recent C$29M capital injection from Tier-1 institutions like Schroders. The stock is currently trading near the C$2.03 financing price, suggesting the market is waiting for the 60,000m program to yield a "discovery-style" breakout.
Capitan Silver Corp. is focused on the Cruz de Plata project in Durango, Mexico. The project is an intermediate sulphidation epithermal system. - Flagship Project: Cruz de Plata (CDP). - Key Trends: The Jesús María Silver Trend (high-grade silver-gold-lead-zinc) and the Capitan Hill Gold Deposit (oxide gold). - Development Stage: Advanced exploration. The company consolidated the project in 2025 by acquiring strategic land from Fresnillo, increasing the land package by 85%. - Royalties: Effectively royalty-free. The company has agreements to buy back and eliminate remaining NSRs (Altiplano, Fresnillo, and Riverside).