In this ASX small-cap analysis, Mithril Silver & Gold (MTH.ASX) lays out the Copalquin district in Mexico and why the district could be a major driver for high-grade gold-silver exposure. Copalquin sits on the prolific Cimarra Gold–Silver trend and is a district-scale epithermal system with dozens of historic mines. Mithril has mapped a broad horizon across roughly 9 km with a vertical extent exceeding 1,000 m across a 70 sq km district. The region hosts 298 historic mines and workings, around 10 km of underground tunnels and 15 km of mapped veins, providing a sizeable exploration footprint. The plan is to de-risk the system by drilling three strong targets and building a robust resource inventory across the district.
Latest news highlights high‑grade channel sampling across multiple targets, underscoring strong gold and silver grades and the district’s vertical context. Mithril has expanded its exploration team and is progressing a large drilling programme designed to feed a resource update and a broader valuation narrative. The company is fully funded for about 45,000 metres of drilling through 2025–26, including around 25,000 metres planned for the first half of 2026. Target One already hosts a maiden resource with high-grade grades; Target Three and Target Five look to deliver a similar scale of resources as drilling progresses. The target is to assemble roughly 2.5–3 million ounces of gold equivalent in the initial resource inventory across the first three targets, with a longer‑term view to unlocking a multi‑million‑ounce potential district.
Beyond the geology, the video covers the infrastructure tailwinds nearby (National Highway 24 within trucking distance, a high‑tension power line, and regional mining hubs), and Mithril’s approach to ESG and local communities—40 local staff, education and health programs, and ongoing engagement to foster responsible exploration. The team includes experienced technical leadership and 3D modelling work that is underpinning the district‑scale geologic model. We also discuss what a successful 2026 programme could mean for investors and how the company plans to de-risk and extend the system deeper into the feeder zones.