Mithril Silver and Gold (ASX:MTH) is continuing step-out drilling at Target 4 after extending the Copalquin-Zaragoza structure to 700m of strike length.
The company reports the strike extends from 550m across two sub-parallel veins spaced 10m to 15m apart at its Copalquin property in Durango State, Mexico.
Hole CO26-006 returned 1.15m @ 1,048 grams per tonne silver equivalent (AgEq), including 2.76g/t gold (Au) and 855g/t silver (Ag), from 104.75m. Hole CO26-009 intersected 0.50m @ 1,738g/t AgEq, including 3.11g/t Au and 1,520g/t Ag, from 154.5m.
Mapping and channel sampling around the historical San Manuel mine, about 400m southeast along trend, returned up to 16.55g/t Au and 616g/t Ag over 0.60m. More than 50 of 135 channel samples graded 1g/t gold equivalent or higher.
The structure remains open for about 400m northwest towards Target 1 (Refugio) and 400m southeast towards San Manuel. Mithril sees a potential strike length of 1.5km.
Two rigs have drilled 24,181m of a budgeted 25,000m program for 2026, with assays pending for eight holes. Drilling continues with lateral step-outs of about 60m.
Target 1 holds a mineral resource estimate of 464,000-ounce gold equivalent indicated and 151,000 ounces inferred, and is undergoing a Scoping Study.
“Extending high-grade mineralisation along the Copalquin-Zaragoza structure to 700m, with further step-out results pending, highlights the growing potential of Target 4,” Managing Director John Skeet says.
Skeet says the company is focused on ‘unlocking the potential’ between targets while advancing the Target 1 Scoping Study.
Mithril Silver and Gold is an Australian explorer advancing a portfolio of silver-gold assets across Mexico’s Sierra Madre belt, including the La Dura property.
Write to JC Villarba at Mining.com.au
Images: Mithril Silver and Gold
