Mithril Silver and Gold Limited (MTH: ASX, MSG: TSXV, MTIRF: OTCQB), a company focused on the exploration and development of precious metal deposits, has announced positive exploration results from its Copalquin property in Durango State, Mexico. The company is pleased to provide an update on multiple targets within the district-scale Copalquin property, highlighting significant expansion at Target 1 and advancements at other key areas. The current Copalquin resource is situated within the Target 1 area.
Recent drilling at Target 1 has successfully extended the strike continuity by 300 metres. The drilling program demonstrated strong potential for further resource growth. Key intercepts include 7.20 metres at 2.78 g/t gold and 148 g/t silver from 260.9 metres, and 8.03 metres at 7.19 g/t gold and 260 g/t silver from 257.72 metres. These results have expanded the Target 1 strike length by over 30 per cent.
Drilling at Target 5 is progressing rapidly, with 11 drill holes completed and assays pending for the initial batch. Ongoing channel sampling at Target 5 has significantly expanded the footprint of this target to 2 km x 2 km. Furthermore, the Target 3 drill plan is advancing, with the addition of a third drill rig anticipated in the coming months. A district-wide aerial magnetic survey is scheduled to commence later this month. The survey is designed to support the district model and locate conduits for widespread gold and silver mineralisation across the Copalquin District.
The mineralised horizon has expanded to over 1,300 metres vertically across 9 km in the southern half of the Copalquin district, spanning from Santa Cruz to El Jarillal. Mithril is fully funded to complete 45,000 metres of drilling over the next 12–14 months. Exploration activities, including drilling and detailed mapping, are advancing across multiple targets. This underpins the district-scale potential of Copalquin.
