# Mithril Provides Exploration Update Over Multiple Targets, Copalquin Silver-Gold Project, Mexico *2026-02-11T07:30:00-05:00* Mithril Provides Exploration Update Over Multiple Targets, Copalquin Silver-Gold Project, Mexico (TheNewswire) | [](www.mithrilsilvergold.com) | | --- | | | Melbourne, Australia and Vancouver, Canada – February 11, 2026 – TheNewswire - Mithril Silver and Gold Limited ("Mithril” or the "Company") (TSXV: MSG) (ASX: MTH) (OTCQB: MTIRF) is pleased to provide details of continued exploration progress at Mithril’s district scale Copalquin property, Durango State, Mexico. - []()The maiden drill programme at Target 5 has confirmed alarge silver rich targetin the south-west of the Copalquin District. High grade silver and gold mineralisation has been outlined within a series of northwest trending banded quartz veins hosted in granodiorite over an area extending 3.2 km from El Gallo in the northwest to Guamuchilito in the southeast and 3.0 km from El Jarillal in the southwest to the Zaragoza workings in the northeast (an area of 9.6 km). Drilling at the Apomal workings has defined a mineralised zone over 350m of strike length. Drilling at the Tasolera workings to the southeast, intercepted a major alteration zone 70m thick containing elevated silver and base metal values. The alteration zone is associated with a major shear zone and indicates that a significant amount of hydrothermal fluids has passed through these rocks, similar to the structures intercepted below Target 1. Further along trend to the southeast, are the Candelaria workings, where channel sampling returned 0.6 m @ 38.3 g/t gold, 4,520 g/t silver[1](#ftn1)indicating a mineralised corridor of 1.5 km within this 9.6 km2target area. Further drilling at Target 5 will target known zones of high-grade mineralisation based on the work done to date and the results of the aeromagnetic survey, with a view to defining additional resource tonnes. - An aerial magnetic survey has been completed over the Copalquin District and is currently in progress over the La Dura property concession area. Along with detailed mapping, sampling, spectral surveys and petrography work, the survey output will provide the data to finalise the drill plan targeting key structural ‘feeder’ targets and progress the District-wide exploration. - Phase IV Drilling at Target 1 to complete the resource update has commenced (~3,000 m). The resource has been extended 300m to the west and is still open in this direction. The resource is also open down dip to the east. In addition, a number of holes are planned to cover internal gaps within the current block model. Samples from drill core produced to date, have been selected for further metallurgical testing to confirm the previous high gold and silver recoveries. - The maiden drill programme at Target 3 has commenced.Early signs are encouraging, with mineralised quartz vein structures intercepted at predicted depths. Maiden drilling is testing several locations with within the target area. Highlight drill results to date from Target 5maiden programme (including previously released[2](#ftn3)): - - 2.75 m@ 660 g/t AgEq(2.28 g/t gold, 500 g/t silver)from 93.6 m (AP25-003), including 1.00 m @ 1,714g/t AgEq(5.80 g/t gold, 1,308 g/t silver)from 94.7 m - - 3.35 m @366g/t AgEq(1.71 g/t gold, 246 g/t silver)from 90.15 m (AP25-005), including 1.05 m @ 1,146 g/t AgEq(5.35 g/t gold, 771 g/t silver)from 92.45 m - - 1.25 m @728g/t AgEq(4.55 g/t gold, 409 g/t silver)from 119.2 m (AP25-006), plus 0.90 m @ 616g/t AgEq(2.41 g/t gold, 447 g/t silver)from 138.1 m, plus 0.80 m @427g/t AgEq(1.51 g/t gold, 321 g/t silver)from 149.5 m - - 0.50 m @443g/t AgEq(0.45 g/t gold, 411 g/t silver)from 241.3 m (AP25-010) (plus 3.4% lead and 1.70% zinc) - - 2.85 m @145g/t AgEq(1.14 g/t gold, 65 g/t silver)from 79.6 m (AP25-014) - 3.05 m @170g/t AgEq(0.07 g/t gold, 165 g/t silver)from 193.05 m (AP25-017) “Copalquin continues to develop as a large epithermal silver–gold system, with high-grade mineralisation now confirmed across multiple targets,” said John Skeet, Managing Director and CEO of Mithril Silver and Gold Limited. “Resource drilling at Target 1, high-grade discoveries at Target 5, and the commencement of drilling at Target 3 demonstrate the scale and growth potential of the district. Alteration intensity, structural controls and geochemical vectors all point to a major hydrothermal system with significant expansion upside. Our strategy is to progress Target 1 to a future development, advance Targets 3 and 5 to additional resources, while testing the district defining targets of this large epithermal silver-gold system, demonstrating further resource upside potential. Detailed work programs for 2026 are being finalised utilising the data from the recent aerial magnetic survey and vein study work.” Copalquin District - 2026 Mithril is u