Mithril Resources recommences drilling programme at Copalquin project

Mithril Resources Ltd (ASX: $MTH) has announced the recommencement of an initial 4,000 metre drilling programme at its Copalquin Project in Durango state, Mexico. The company aims to double the current 529,000 ounces at 6.8 g/t gold equivalent resource at the first target area in the district at El Refugio.

Executive Commentary on Copalquin Project

We are extremely happy to recommence drilling at our Copalquin project in Mexico, which to date has delivered exceptionally high-grade gold and silver intercepts and a high-grade maiden resource in this large historic mining district. We have important structures to test and previous high-grade intercepts to follow up for continued resource expansion drilling in this first of several target areas. We aim to at least double the current resource at El Refugio target area in the short term as we continue to progress work at the multiple target areas in this multimillion ounce potential district.

Summary of Copalquin Project Update

Mithril Resources Ltd (ASX: $MTH) has recommenced an initial 4,000 metre drilling programme at its Copalquin Project in Durango state, Mexico. The company aims to double the current 529,000 ounces at 6.8 g/t gold equivalent resource at the first target area in the district at El Refugio. With over seventy historic gold-silver mines and workings throughout 70km2 of mining concession area, Copalquin is an entire mining district with high-grade exploration results and a maiden JORC resource. Mithril is also exploring to expand the resource footprint and develop other targets, demonstrating the district's multi-million-ounce gold and silver potential. The company has an exclusive option to purchase 100% interest in the Copalquin mining concessions by paying US$10M on or before 7 August 2028.