en.Wedoany.com Reported - Mining company Mithril Silver and Gold Limited announced an updated Mineral Resource Estimate (MRE) for the "Target 1" deposit at its Copalquin silver-gold project in Durango, Mexico, with indicated resources increasing by 196%. This development positions the asset as one of the high-potential pre-development underground projects in Mexico.

The company achieved a low discovery cost of under US$20 per gold equivalent ounce (AuEq) after completing approximately 60,000 meters of diamond core drilling across 204 drill holes. Based on this work, the team developed a high-fidelity predictive geological model, aiding in understanding the continuity and confidence of mineralization.

Unlike purely traditional geological models, this updated estimate incorporates mining dilution and preliminary underground mining methods. Total indicated resources stand at 343,000 ounces of gold and 8.479 million ounces of silver (464,000 gold equivalent ounces), with diluted grades of 3.15 g/t gold and 77.8 g/t silver. Inferred resources total 151,000 gold equivalent ounces. 75% of the deposit's total metal content is now classified in the high-confidence category (indicated).

Mithril Silver Managing Director and CEO John Skeet stated that this update provides a foundation for future mine planning, engineering studies, and economic assessments, reducing project risk. Currently, the deposit remains open along structure and at depth, and the company is applying the scientific insights gained to multiple high-grade targets within the Copalquin epithermal system.