공시 • Jun 11
Mithril Silver and Gold Limited Completes Final Six Holes in Western Expansion Area of El Refugio Area, and Final Two Holes in La Soledad Southeast Expansion Area
Mithril Silver and Gold Limited completed the final six holes in the western expansion area of the El Refugio area, and final two holes in La Soledad southeast expansion area, in advance of the updated Mineral Resource Estimate planned for late June 2026. Three of six drill holes completed at El Refugio intercepted high grade silver and gold, including drill hole RE26-013 which intercepted 7.25 m grading 4.01 g/t gold and 225.1 g/t silver, or 7.22 g/t gold equivalent, at distance of approximately 190 m from previously announced drill hole RE26-009 which intercepted 9.65 m grading 7.00 g/t gold and 370.3 g/t silver, or 12.29 g/t gold equivalent. Drilling in the La Soledad vein continues to intercept elevated gold values in drilling, as extension of the 2021 Mineral Resource Estimate footprint seen in hole LS26-007. Target 1 resource upgrade drilling highlights include: 2.85 m at 2.41 g/t gold, and 107.8 g/t silver from 395.05 m (RE26-010), including 0.95 m at 2.83 g/t gold, and 188.0 g/t silver from 396.95 m; 1.20 m at 6.64 g/t gold, and 6.4 g/t silver from 304.20 m (RE26-012); 1.65 m at 3.79 g/t gold, and 8.3 g/t silver from 316.75 m, including 0.75 m at 5.55 g/t gold, and 11.9 g/t silver from 317.65; 7.25 m at 4.01 g/t gold, and 225.1 g/t silver from 375.70 m (RE26-013), including 3.30 m at 7.11 g/t gold, and 368.2 g/t silver from 376.80 m, including 0.50 m at 15.25 g/t gold, and 533.0 g/t silver from 378.00 m; and 3.25 m at 5.23 g/t gold, and 30.5 g/t silver from 92.0 m (LS26-007), including 0.85 m at 19.45 g/t gold, and 96.8 g/t silver from 94.4 m. The final drillholes of the 2026 Target 1 upgrade drilling program that were directed to further test the western mineralized limit of the El Refugio structure returned encouraging results including high grade silver and gold mineralization within wide intervals of quartz breccia and wider intervals of milled and/or phreatic breccia textures. Drill hole RE26-013, which intercepted 7.25 m of mineralized quartz breccia within a wider 12.6 m interval of quartz filled polymictic breccia, shows as evidence of a large, high energy mineralized system. The overall success of the upgrade drilling campaign is underscored by the increased footprint of the mineralization at El Refugio, and the increased confidence in the grade and geology model which remains open to depth. The recent drilling has confirmed the continuation of the mineralization at similar grade and thickness across the dyke which has split and offset the mineralization. Mithril is undertaking an aggressive exploration programme in 2026, with 11,238 metres now complete of up to 25,000 metres of drilling planned during the first 6 - 8 months of the year across the Copalquin District. Upcoming work is focussing on expanding known mineralised zones, testing new high-priority targets, integrating district-wide geophysical data, and continuing to advance the Company’s district-scale exploration thesis. The district features over 100 historic underground workings (c.1850 – 1910) including several multi-level mines and 200 small surface workings. Mapping and sampling across the lower half of the 70 km2 mining concession area demonstrates and a large epithermal silver-gold system with multiple target areas for potential resource growth plus the underlying conduit system responsible for the widespread gold and silver mineralisation. The northern half of the Copalquin concession area features large areas of alteration. The LiDAR image shows evidence of historic mining activity and indicates some key structures. Along with historic sampling data, the northern section of the property presents as an additional, potentially significant and large exploration area within Mithril’s Copalquin mining concessions. The nearby 20 km2 La Dura property has recently been added to the portfolio providing a brown field property with a database of mapping, sampling and drilling. The recent LiDAR survey has revealed multiple historic workings within the concession area, including the 4-level high-grade La Dura mine. An initial 1.5 km long mineralisation corridor has been identified as a future drill target. An aerial magnetic survey has been complete with interpretation work currently progressing. Initial drilling at the Target 1 Resource area started in July 2020, culminating in seventy-seven drill holes (totalling 17,706.20 m) being completed in the area that were used as the basis of the initial Mineral Resource Estimate. Since then, 127 additional drill holes (totalling 42,861.35 m) have been completed in the Target 1 resource area, for a total of 204 drill holes (totalling 60,567.55 m). A priority objective of the drilling campaign has been to de-risk the mineral resource model by completing infill drilling within areas defined as Inferred Resources to increase local confidence in the geology and grade continuity. In early 2026 Mithril directed drilling activities to address some remaining gaps that were recognized between wide spaced drilling in the El Refugio vein system that were untested or that were classified as Inferred resources. Eight holes (totalling 2,814.0 m) were completed to fill these gaps. These holes further developed understanding of the main El Refugio body, including the addition of two new veins. The system now comprises four veins on the footwall and hangingwall side of El Refugio main. Along the western extension of El Refugio main, the vein system consolidates into one main structure. The final seven holes (totalling 2,868.0 m) of the 2026 campaign at El Refugio were drilled to test continuity of the mineralized system and successfully intersected mineralization beyond the post-mineral dyke system. Recent age dating confirms the approximate age of mineralization around 27 Ma, relative to the post mineral dyke system with an age of 22 Ma, based on K-Ar age dating methods. Mineralization within the structure remains open to depth. Drilling at La Soledad since the 2021 Mineral Resource Estimate focused on drill testing mineralized extensions projected from the historical workings, which were surveyed with underground LiDAR in May 2025, in addition to the successful extension of the mineralized structure to the southeast. Drilling in 2026, which included seven drill holes at La Soledad (totalling 2,316 m) continued testing the extension of the mineralization along the southeast trend. Together, the campaigns have culminated in identifying six subparallel mineralized structures located in the footwall to La Soledad main near the intersection with Refugio main vein.