Mithril Silver and Gold (ASX:MTH) has commenced its maiden drill program at Target 3 within its multi-target Copalquin gold-silver district in Durango State, Mexico, marking a strong start to its 2026 exploration campaign.
The program, comprising approximately 3,300m of drilling, will test the continuity and scale of mineralisation around the El Jabali historic workings, where recent channel sampling returned high-grade results of up to 0.65m at 16 g/t gold and 1,275 g/t silver.
Target 3 forms part of a broader 25,000-metre drilling plan across the Copalquin District scheduled for the first half of 2026.
Drilling is also ongoing at Targets 1 and 5, with Target 1 drilling expected to be completed in the first quarter of 2026 ahead of a maiden mineral resource estimate update.
In parallel, a drone magnetic survey over the Copalquin and La Dura concessions is set to begin this month, while additional assay results from 2025 exploration activities are anticipated in the coming weeks.
At the time of reporting, Mithril Silver and Gold's share price was $0.62.