Mithril Silver and Gold Limited (ASX:MTH) Announces Exploration Progress

Drilling Advancements

Mithril Silver and Gold Limited (ASX:MTH) has commenced the second stage of its 9,000-metre drilling program at the Target 1 resource area within the Copalquin Silver-Gold District in Durango State, Mexico. Recent drilling, particularly hole CDH-159, intercepted 33 metres from surface at impressive grades of 31.8 g/t gold and 274 g/t silver, including 7 metres at 144 g/t gold and 1,162 g/t silver.

Approximately 1,500 metres of drilling has been completed since the program’s restart in November after a maintenance break. Drilling operations are currently expanding the resource footprint on the eastern side of the Target 1 area.

Upcoming Resource Update

The maiden resource update for the Target 1 area is on schedule for completion by the end of Q1 2025. The company is also undertaking additional drilling at two advanced target areas later in 2025, supported by an extensive A$12.5 million funding placement completed in October 2024.

Infrastructure Development

Mithril is advancing infrastructure to support exploration activities. The municipal access road upgrade is progressing well and is expected to be completed by late March 2025. This upgrade will facilitate the significant expansion of exploration activities in the district.

Management Remarks

John Skeet, Managing Director and CEO of Mithril, commented, “Drilling is progressing well, and the recent core logging reinforces our geologic model for the widespread mineralisation. With our substantial treasury, we are well-positioned for exceptional progress and news flow throughout 2025.”

Community Engagement

Mithril remains committed to supporting local communities through education and employment initiatives, contributing to long-term regional development.

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Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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