Mithril Advances Copalquin Resource with Phase IV Drilling and New La Dura Targets

LiDAR Survey Reveals New Drill Targets at La Dura

Mithril Silver and Gold Limited has completed a detailed LiDAR survey over its 21 square kilometre La Dura gold-silver project in Durango State, Mexico. This advanced remote sensing technique, which uses laser pulses to create high-resolution digital terrain models, has effectively peeled back vegetation to expose underlying geological structures and historic mining activity.

The survey uncovered a 1.5-kilometre-long and 300-metre-wide structural trend hosting multiple historic shafts, adits, and prospecting pits, including the notable four-level La Dura mine. These findings highlight a compelling high-priority drill target along five repeated structures, offering fresh avenues for exploration in a district with a rich mining heritage.

Copalquin Drilling Advances Resource Update

At Mithril’s flagship Copalquin District, exploration momentum continues with Phase IV drilling underway at Target 1. This program aims to complete an updated resource estimate, building on the maiden JORC resource that already outlines a combined indicated and inferred resource of approximately 373,000 ounces of gold and nearly 11 million ounces of silver.

Simultaneously, maiden drilling at Target 3 has intersected mineralised quartz veins at predicted depths, although assay results are still pending. These early signs are encouraging and may lead to an expanded drilling program to further delineate mineralisation across the district.

Geophysical Surveys and Exploration Outlook

Mithril has also completed aerial magnetic surveys over both the Copalquin and La Dura properties, with final interpretations expected shortly. These geophysical data, combined with detailed geological mapping, sampling, and petrographic studies, will refine drill targeting by identifying key structural ‘feeder’ zones that control mineralisation.

The company has outlined an aggressive exploration agenda for 2026, planning up to 25,000 metres of drilling across multiple targets. This program aims to expand known mineralised zones, test new high-priority areas, and advance the district-scale exploration thesis that underpins Mithril’s strategic vision.

Strategic Position and Future Potential

Mithril holds an exclusive option to acquire 100% interest in the Copalquin mining concessions by August 2028, positioning itself to control a significant epithermal gold-silver district within the prolific Sierra Madre trend. The combination of historic mining data, modern geophysical surveys, and ongoing drilling programs underscores the district’s multi-million-ounce potential.

With metallurgical test work supporting high recovery rates and conventional underground mining methods, Mithril is steadily advancing towards resource development while maintaining a strong exploration upside across its portfolio.