Capitan Silver Announces Arrival of Second Drill Rig at the Cruz De Plata Project to Test Newly Discovered High-Grade Silver Zone
Capitan Leverages Institutional War Chest for Massive 60,000-Metre Mexican Silver Offensive
The most recent news release (February 9, 2026) announces the arrival of a second drill rig—a core rig—at the Cruz De Plata project in Durango, Mexico. This rig joins an existing Reverse Circulation (RC) rig. This marks the operational commencement of a massive 60,000-metre drilling campaign planned for 2026, which represents a 400% increase in scale compared to the 2025 program. The core rig is specifically tasked with testing depth and down-plunge extensions of the newly discovered high-grade silver zone near the Peñoles fault, following up on previous high-grade intercepts such as 370.2 g/t Ag over 19.8m.
The news is Materially Positive for the following reasons: - Execution of Aggressive Strategy: The 60,000-metre program is exceptionally large for a junior explorer, indicating high confidence in the project's scale and the geological model. - Targeting Quality: Moving from RC to core drilling is essential for structural interpretation and provides more reliable samples for high-grade vein systems. - Fully Funded Momentum: This news follows a massive C$29 million capital injection from top-tier institutional investors in December 2025. The company is not just "planning" but actively spending that capital to drive discovery. - High-Grade Potential: By focusing the core rig on the Peñoles and Jesus Maria trends, the company is targeting the most lucrative portions of the system to support a future maiden silver resource.
Capitan Silver Corp. is a silver-gold explorer focused on its 100%-owned Cruz de Plata project in Durango, Mexico. The project is an intermediate sulphidation epithermal system. - Flagship Project: Cruz de Plata (CDP). It contains two main trends: the Jesus Maria Silver Trend and the Capitan Hill Oxide Gold Deposit. - Resource Status: Capitan Hill has a pit-constrained Inferred Mineral Resource of 525,000 oz Gold and 4.2M oz Silver. The silver veins currently being drilled do not yet have a NI 43-101 compliant resource for the new high-grade zones. - Historical Context: The project was formerly part of a spin-out from Riverside Resources in 2020 and has since been consolidated through major land acquisitions from Fresnillo.