Mithril Silver and Gold reports outstanding high-grade gold and silver assay results from its Copalquin district in Mexico, setting the stage for an extensive drilling campaign starting August 2025. The discovery at Target 6 expands the district’s promising resource potential.
- Target 6 yields up to 57.8 g/t gold and 2,120 g/t silver from underground sampling
- Mineralised corridors now span 2 km by 8 km with 1,200 m elevation range
- Fully funded for 45,000 metres of drilling over 12 months, with a third rig planned for 2026
- Target 5 drilling to commence in August 2025 following surface sampling expansion
- Copalquin hosts a maiden JORC resource at Target 1 with significant potential for growth
Exploration Breakthrough at Copalquin
Mithril Silver and Gold Limited has unveiled a series of compelling high-grade assay results from its Copalquin gold-silver district in Durango State, Mexico. The standout discovery comes from Target 6, located around the historic Santa Cruz underground mine, where channel sampling returned exceptional grades including 57.8 grams per tonne (g/t) gold and 2,120 g/t silver. These results underscore the district’s expanding potential as a significant new epithermal gold-silver province within Mexico’s prolific Sierra Madre trend.
District-Scale Mineralisation and Strategic Drilling Plans
The Copalquin project now boasts mineralised corridors extending approximately 2 kilometres by 8 kilometres, with a vertical elevation profile of 1,200 metres. This extensive footprint reflects the district-scale nature of the mineral system, which hosts over 100 historic underground mines and numerous surface workings. Mithril’s recent capital raise has fully funded an ambitious 45,000-metre drilling program over the next year, with plans to add a third drill rig in early 2026 to accelerate exploration efforts.
Following encouraging surface channel sampling that has expanded Target 5, the company is poised to commence drilling there in August 2025. Target 5’s veins, some traceable for over 600 metres, lie at a lower elevation compared to other targets, offering a complementary exploration window within the district.
Building on a Solid Resource Foundation
Copalquin already hosts a maiden JORC mineral resource estimate at Target 1 (El Refugio-La Soledad), with indicated and inferred resources totaling nearly 373,000 ounces of gold and over 10 million ounces of silver. This resource is supported by a conceptual underground mining study and metallurgical test work indicating high recovery rates. Mithril’s ongoing exploration aims to expand this resource footprint significantly, leveraging the district’s multiple high-grade targets and extensive vein systems.
Technical Rigor and Future Outlook
The company’s exploration approach combines detailed underground and surface channel sampling, geologic mapping, and systematic drilling. Assay quality is maintained through rigorous sampling protocols and laboratory procedures, with ongoing metallurgical testing to refine recovery assumptions. While some assay results remain pending and true widths for certain intercepts are yet to be fully understood, the overall data set paints a promising picture of Copalquin’s potential.
With infrastructure improvements such as new access roads and drill pads already in place, Mithril is well positioned to accelerate its exploration momentum. The company’s management highlights the district’s scale and grade as among the most significant discoveries in the Sierra Madre trend in recent years.
Bottom Line?
As Mithril gears up for an intensive drilling campaign, Copalquin’s evolving high-grade footprint could reshape expectations for Mexico’s next major gold-silver district.
Questions in the middle?
- How will drilling results from Target 5 influence the overall resource update planned for late 2025?
- What are the implications of the high-grade Target 6 results for the district’s exploration model and potential mine development?
- How might metallurgical recoveries and processing strategies evolve as more data emerges from ongoing test work?