Mithril Silver and Gold extends mineralisation in Mexico

Mithril Silver and Gold (ASX:MTH) has extended high-grade gold and silver mineralisation at its Copalquin Project in Mexico, delivering final assay results ahead of an updated mineral resource estimate scheduled for late June.

The latest drilling results from the Target 1 resource area include five holes from the El Refugio western expansion and two from the La Soledad south-east extension.

The standout intercept from the El Refugio campaign returned a 7.25m at 4.01 grammes per tonne gold and 225.1g/t silver (7.22g/t gold equivalent) from 375.70m, which included a higher-grade zone of 0.50m at 15.25g/t gold and 533g/t silver.

Meanwhile, drilling at La Soledad intercepted 3.25m at 5.23g/t gold and 30.5g/t silver from 92m, confirming six subparallel mineralised structures outside the 2021 resource footprint.

Mithril has now completed 11,238m of a planned 25,000m drilling programme across the 70-square-kilometre Copalquin district for 2026.

The recent campaign focused on de-risking the geological model by testing gaps, confirming that mineralisation remains open at depth and across post-mineral dyke systems.

Vice-president of exploration James Barr stated that the western expansion has successfully defined structural continuity and a north-west mineralisation plunge.

With drilling objectives at Target 1 substantially complete, Mithril's immediate focus shifts to finalising the MRE update, aiming to upgrade geological confidence and convert existing inferred resources.

Exploration will progress to mapping and target development in the broader district, alongside evaluating the newly optioned La Dura property.