Mithril Silver and Gold Limited Reports Significant Resource upgrade
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Mithril Silver and Gold Limited (ASX: MTH) announced an upgraded Mineral Resource Estimate for its Target 1 deposit at the Copalquin Project in Mexico on 30 June 2026. The update is being presented as a de-risking step because it adds higher confidence resource ounces and constrains the estimate to practical underground mining shapes.
The upgraded estimate shows 343 koz of gold, 8.479 Moz of silver and 464 koz AuEq in the Indicated category plus 103 koz of gold, 3.398 Moz of silver and 151 koz AuEq Inferred. Mithril reported that roughly 75% of total gold and silver is now classified as Indicated based on about 60,568 metres of drilling across 204 holes.Β
The company has framed the result as more than a simple ounce increase and mentioned that the resource is now more directly usable for mine planning, engineering studies and economic evaluation. It also noted that the geological model continues to highlight new mineralisation and that the Copalquin district remains an exploration growth story.Β
Mithril also plans to keep advancing engineering, metallurgical and development work while working towards resource growth at other targets in the district. Two drill rigs are active and the company confirms that it is funded for another 12,000 metres of drilling in the second half of 2026.
For investors, the update strengthens the projectβs technical foundation but the economic case still depends on further studies, permitting and future mining assumptions.Β
(Source: Company Announcements)
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