Mithril Silver and Gold Limited (ASX: MTH) has announced further high-grade exploration results from its Copalquin property in Durango State, Mexico. Mithril is focused on the exploration and development of silver and gold properties in Mexico. The company is actively exploring its district-scale Copalquin mining district, which contains multiple historic mines and workings.
Channel sampling at the historic Santa Cruz underground mine at new Target 6 returned exceptional assays, including 57.8 g/t gold and 2,120 g/t silver. Surface channel sampling continues to expand Target 5 ahead of the first drilling, which is expected to commence in mid-August 2025. Mineralised corridors now cover 2 km x 8 km over a 1,200 m elevation profile within the 70km mining concession area.
Other significant results from underground sampling at Target 6 include 0.80 m @ 17.4 g/t gold, 603 g/t silver and 0.70 m @ 23.2 g/t gold, 755 g/t silver. Surface sampling at Target 5 also yielded promising results, such as 0.50 m @ 27.9 g/t gold, 14 g/t silver and 0.30 m @ 9.60 g/t gold, 608 g/t silver.
Mithril is fully funded to complete 45,000 metres of drilling over the next 12 months, supported by its recent capital raise. A third drill rig is set to be added in early 2026. The company’s MD and CEO, John Skeet, stated that the high-grade results from Target 6 expand the Copalquin District’s high-grade potential. He added that the company has prepared to drill Target 5 in August 2025, with the Copalquin District emerging as one of the most significant new gold-silver districts in Mexico’s Sierra Madre trend.
