Mithril Silver and Gold is advancing one of Mexico’s most compelling high-grade silver–gold exploration stories, anchored by its flagship Copalquin District in Durango. Situated in the heart of Mexico’s prolific Sierra Madre gold–silver trend—home to many long-life mining camps—the district spans roughly 70 km² and hosts nearly 300 historic mines and workings. With excellent access to infrastructure and a mining-friendly jurisdiction, Copalquin combines scale, grade, and location in a way that is increasingly rare.
At the core of the story is Target 1, where Mithril has outlined a high-grade underground resource in a remarkably short time frame. The maiden resource delivered standout grades of approximately 7.06 g/t gold equivalent (indicated) and 6.72 g/t gold equivalent (inferred), translating into meaningful contained gold and silver ounces from relatively modest tonnage. These grades place Copalquin among the highest-grade silver–gold discoveries in Mexico in recent years and point to the potential for a high-margin underground operation.
Drilling continues to demonstrate the strength of the system, with numerous intercepts featuring bonanza-style silver and strong gold values. Highlights include multi-metre intervals carrying double-digit gold grades alongside hundreds to thousands of grams per tonne silver, underscoring the robust precious-metal endowment of the district. Importantly, mineralization remains open along strike and at depth, suggesting significant room for resource growth as drilling expands into adjacent targets.
Beyond grade, metallurgy and development fundamentals further enhance the investment case. Test work to date indicates excellent recoveries—around 96% for gold and 91% for silver—using simple processing routes, supporting the potential for strong economics. The project benefits from shallow underground access, favourable topography, and proximity to roads and power, all of which help reduce capital intensity and execution risk.
Looking ahead, Mithril is fully funded for an aggressive drilling program, with multiple rigs targeting resource expansion at Target 1 and new discoveries at Targets 3 and 5. Coupled with the recent acquisition of the nearby La Dura property—adding further high-grade gold-silver upside—the company is positioning Copalquin as a district-scale opportunity with both near-term catalysts and long-term growth potential.
