en.Wedoany.com Reported - Mexican mining company Mithril Silver and Gold Limited has released its latest Mineral Resource Estimate (MRE) for the Copalquín silver-gold project in Durango State, with data cut-off as of the June 30, 2026 quarter. The report shows a 196% increase in indicated resources compared to the previous estimate, totaling 343,000 ounces of gold and 8.479 million ounces of silver, equivalent to 464,000 ounces of gold equivalent; additionally, inferred resources contain 103,000 ounces of gold and 3.398 million ounces of silver, equivalent to 151,000 ounces of gold equivalent.

In the latest estimate, 75% of the total mineral resources in the target area have been classified into the indicated category, reflecting improved geological confidence. The resource estimate also incorporates realistic boundary parameters and expected dilution rates for underground mining, providing a more precise basis for subsequent engineering studies and economic evaluations.

Mithril Managing Director and CEO John Skeet stated that the quarter saw significant progress in de-risking the project and expanding the epithermal system at Target 1 (El Refugio and La Soledad). A total of approximately 60,000 meters of drilling has been completed in this area, with 204 drill holes collared, and the total discovery cost remains below US$20 per ounce of gold equivalent.

On the financial front, Mithril ended the quarter with a cash balance of A$7.3 million and no debt. The company also received a Mexican VAT refund of MXN 11.5 million, approximately A$0.94 million.