Mithril Silver and Gold Limited (ASX: MTH) announced on April 9, 2026, further significant exploration progress at its district-scale Copalquin property in Durango State, Mexico. Mithril Silver and Gold Limited is an Australian-based precious metals explorer focused on developing high-grade silver and gold deposits. The company primarily operates its Copalquin project in Durango State, Mexico. The latest results confirm high-grade and widespread silver and gold mineralisation at Target 3 and a new discovery at Target 5, reinforcing the project’s substantial upside.
Drilling at Target 3, part of a 3,039-metre programme testing historic workings, has yielded impressive intercepts. Highlights include 0.90 metres at 2.79 g/t gold and 151 g/t silver from 151.0 metres (JA26-002), 0.50 metres at 6.91 g/t gold and 475 g/t silver from 102.5 metres (JA26-004), and 0.50 metres at 33.2 g/t gold and 5.9 g/t silver from 134.95 metres (GU26-002). These results indicate extensive epithermal style mineralisation at a high level in the system, with best intercepts found deeper in the drill holes, suggesting significant growth potential.
Further success was noted at Target 5, where a single drill hole at La Maquina confirmed high-grade silver-gold mineralisation, intercepting 0.85 metres at 6.20 g/t gold and 764 g/t silver from 122.8 metres (MA26-001). This new discovery, located 68 metres down dip from the surface, further validates the district’s prospectivity. James Barr, Mithril’s VP Exploration, noted that these results open new expansion opportunities and underscore the successful combination of ground mapping, sampling, LiDAR, and remote sensing in target generation.
Meanwhile, resource upgrade drilling at Target 1 is progressing well, with reporting on schedule for later in the first half of the year. The geological team continues to expand detailed mapping, having covered 24 square kilometres of the 70 square kilometre mining concession area, generating numerous new targets. Mithril plans an aggressive exploration programme in 2026, with up to 25,000 metres of drilling scheduled for the first six to eight months across the Copalquin District, alongside continued evaluation of an aerial magnetic survey and advancement of the newly added La Dura property.
