Archive

Original announcement by thenewswire on

Company
Mithril Silver and Gold Limited
Ticker
MTH
Exchange
Unavailable
Region
Durango State, Mexico
Primary commodity
Gold
Secondary commodities
Silver
Document categories
Other, Resource update
Extracted
2026-10-01 05:15:06 UTC

Analysis by Minestarters Atlas

Atlas analysis published:

Minestarters Atlas analysis

Summary

Mithril Silver and Gold Limited announced the results of a LiDAR survey at its La Dura Gold-Silver Project in Mexico, revealing a 1.5 km trend with historic mines and defining a high-priority drill target. The company also provided an update on ongoing Phase IV drilling at Copalquin Target 1 for a resource update and maiden drilling at Target 3, where mineralized quartz veins were intercepted with assays pending. The release includes a detailed re-statement of the historical JORC-compliant mineral resource estimate for Copalquin Target 1 from November 2021.

Reasoning: The company has identified new high-priority drill targets at La Dura through a LiDAR survey, indicating strong exploration potential. While the detailed resource estimate provided is historical, it serves as a baseline for ongoing drilling aimed at an updated resource.

Positive factors

  • New high-priority drill targets identified from LiDAR survey at La Dura
  • Ongoing drilling for resource update at Copalquin Target 1
  • Maiden drilling at Copalquin Target 3 intercepted mineralized veins

Negative factors

  • Resource estimate is historical (from 2021)
  • Assays for new drilling are pending

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 15

Classification and evidence

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: The resource estimate's effective date is November 17, 2021, while the document is published in February 2026, making it over 2 years old.

Evidence · text

“This maiden resource is detailed below (see ASX release 17 November 2021)”

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: The resource estimate is explicitly stated to be JORC Code, 2012 Edition compliant.

Evidence · text

“The information in this report that relates to Mineral Resources or Ore Reserves is based on information provided in the following ASX announcement: 17 Nov 2021 - MAIDEN JORC RESOURCE”

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: The scientific and technical information, including the resource estimate, has been reviewed and approved by a Qualified Person within the meaning of NI 43-101.

Evidence · text

“Scientific and technical information in this Report has been reviewed and approved by Mr John Skeet (FAUSIMM, CP) Mithril’s Managing Director and Chief Executive Officer. Mr John Skeet is a qualified person within the meaning of NI 43-101.”

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: Mr John Skeet (Mithril's CEO and Managing Director) and Mr Rodney Webster (former Principal Geologist at AMC Consultants) are named as Competent Persons/Qualified Persons responsible for the information and resource estimate.

Evidence · text

“The information in this announcement that relates to the LiDAR survey results, sampling techniques and data, metallurgical test results, mineral processing and project development and study work has been compiled by Mr John Skeet who is Mithril’s CEO and Managing Director... The information in this announcement that relates to Mineral Resources is reported by Mr Rodney Webster, former Principal Geologist at AMC Consultants Pty Ltd (AMC)”

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The mineral resource estimate is reported using a clear cut-off grade of 2.0 g/t AuEq.

Evidence · table

“2.0 g/t AuEq*”

Context: Table 1 Mineral resource estimate at Target 1 El Refugio – La Soledad using a cut-off grade of 2.0 g/t AuEq*

Maiden Resourceneutral

First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The resource estimate is explicitly referred to as a 'maiden JORC mineral resource estimate' for Target 1.

Evidence · text

“Within 15 months of drilling in the Copalquin District, Mithril delivered a maiden JORC mineral resource estimate at the first of several target areas (Target 1)”

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: A significant portion of the total resource (1,725 kt out of 2,416 kt) is classified as Inferred.

Evidence · table

“1,725”

Context: Total | Inferred

Extracted facts

Stored fact records: 15. Some facts used in scoring do not have a stored record.

Resource Estimates (15)

indicatedCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 691000Grade: 5.43Grade Unit: g/tContained Metal: 121Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:900de116e09ddba522bb
Deposit or zone
El Refugio

Resource Data

Category
indicated
Tonnes
691000
Grade
5.43
Grade Unit
g/t
Contained Metal
121
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Indicated Gold resource for El Refugio from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)

Evidence · table

“5.43”

Context: 691

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

indicatedCopalquin District - Target 1 El Refugio – La Soledad · silverTonnes: 691000Grade: 114.2Grade Unit: g/tContained Metal: 2538Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
silver
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:900de116e09ddba522bb
Deposit or zone
El Refugio

Resource Data

Category
indicated
Tonnes
691000
Grade
114.2
Grade Unit
g/t
Contained Metal
2538
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Indicated Silver resource for El Refugio from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)

Evidence · table

“114.2”

Context: 691

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

indicatedCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 691000Contained Metal: 157Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:900de116e09ddba522bb
Deposit or zone
El Refugio

Resource Data

Category
indicated
Tonnes
691000
Contained Metal
157
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Metal Eq. Grade
7.06
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Indicated Gold Equivalent resource for El Refugio from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)

Evidence · table

“7.06”

Context: 691

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 1447000Grade: 4.63Grade Unit: g/tContained Metal: 215Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:de02b32b4cbfb6ac32fa
Deposit or zone
El Refugio

Resource Data

Category
inferred
Tonnes
1447000
Grade
4.63
Grade Unit
g/t
Contained Metal
215
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Inferred Gold resource for El Refugio from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“4.63”

Context: 1,447

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · silverTonnes: 1447000Grade: 137.1Grade Unit: g/tContained Metal: 6377Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
silver
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:de02b32b4cbfb6ac32fa
Deposit or zone
El Refugio

Resource Data

Category
inferred
Tonnes
1447000
Grade
137.1
Grade Unit
g/t
Contained Metal
6377
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Inferred Silver resource for El Refugio from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“137.1”

Context: 1,447

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 1447000Contained Metal: 307Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:de02b32b4cbfb6ac32fa
Deposit or zone
El Refugio

Resource Data

Category
inferred
Tonnes
1447000
Contained Metal
307
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Metal Eq. Grade
6.59
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Inferred Gold Equivalent resource for El Refugio from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“6.59”

Context: 1,447

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 278000Grade: 4.12Grade Unit: g/tContained Metal: 37Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:d7f51270ad7e9b5257a5
Deposit or zone
La Soledad

Resource Data

Category
inferred
Tonnes
278000
Grade
4.12
Grade Unit
g/t
Contained Metal
37
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Inferred Gold resource for La Soledad from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“4.12”

Context: 278

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · silverTonnes: 278000Grade: 228.2Grade Unit: g/tContained Metal: 2037Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
silver
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:d7f51270ad7e9b5257a5
Deposit or zone
La Soledad

Resource Data

Category
inferred
Tonnes
278000
Grade
228.2
Grade Unit
g/t
Contained Metal
2037
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Inferred Silver resource for La Soledad from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“228.2”

Context: 278

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 278000Contained Metal: 66Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:d7f51270ad7e9b5257a5
Deposit or zone
La Soledad

Resource Data

Category
inferred
Tonnes
278000
Contained Metal
66
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Metal Eq. Grade
7.38
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Inferred Gold Equivalent resource for La Soledad from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“7.38”

Context: 278

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

indicatedCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 691000Grade: 5.43Grade Unit: g/tContained Metal: 121Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:6b4aee46c0d57ba03641
Deposit or zone
Total

Resource Data

Category
indicated
Tonnes
691000
Grade
5.43
Grade Unit
g/t
Contained Metal
121
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Total Indicated Gold resource from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)

Evidence · table

“5.43”

Context: 691

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

indicatedCopalquin District - Target 1 El Refugio – La Soledad · silverTonnes: 691000Grade: 114.2Grade Unit: g/tContained Metal: 2538Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
silver
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:6b4aee46c0d57ba03641
Deposit or zone
Total

Resource Data

Category
indicated
Tonnes
691000
Grade
114.2
Grade Unit
g/t
Contained Metal
2538
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Total Indicated Silver resource from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)

Evidence · table

“114.2”

Context: 691

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

indicatedCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 691000Contained Metal: 157Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:6b4aee46c0d57ba03641
Deposit or zone
Total

Resource Data

Category
indicated
Tonnes
691000
Contained Metal
157
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Metal Eq. Grade
7.06
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Total Indicated Gold Equivalent resource from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)

Evidence · table

“7.06”

Context: 691

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 1725000Grade: 4.55Grade Unit: g/tContained Metal: 252Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:8630e2ba9589a17bb736
Deposit or zone
Total

Resource Data

Category
inferred
Tonnes
1725000
Grade
4.55
Grade Unit
g/t
Contained Metal
252
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Total Inferred Gold resource from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“4.55”

Context: 1,725

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · silverTonnes: 1725000Grade: 151.7Grade Unit: g/tContained Metal: 8414Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
silver
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:8630e2ba9589a17bb736
Deposit or zone
Total

Resource Data

Category
inferred
Tonnes
1725000
Grade
151.7
Grade Unit
g/t
Contained Metal
8414
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Total Inferred Silver resource from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“151.7”

Context: 1,725

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

inferredCopalquin District - Target 1 El Refugio – La Soledad · goldTonnes: 1725000Contained Metal: 372Contained Unit: kozHistorical resultNeeds review: historical_restatementView all details
Link to this fact

Identity

Project
Copalquin District - Target 1 El Refugio – La Soledad
Commodity
gold
Region
mexico
Reported Region
Durango State, Mexico
Ticker
MTH

Resource scope

Estimate type
resource
Reporting standards
jorc, ni_43_101
QP Signed
Yes
Qualified person names
Rodney Webster, John Skeet
Resource group id
resource:8630e2ba9589a17bb736
Deposit or zone
Total

Resource Data

Category
inferred
Tonnes
1725000
Contained Metal
372
Contained Unit
koz
Cutoff Grade
2
Cutoff Unit
g/t AuEq

Prior Estimate

Resource Date
2021-11-17

Metal Equivalent

Metal Eq. Grade
6.72
Metal Eq. Unit
g/t AuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Global

Location

Loc. Confidence
medium

Review

Needs Review
Yes
Review Reason
historical_restatement
Historical
Yes
Historical Source Date
2021-11-17T00:00:00.000Z

Dates

Event date
2026-02-25T00:00:00.000Z

Reasoning: This is a re-statement of a historical JORC/NI 43-101 compliant Total Inferred Gold Equivalent resource from 2021, providing a baseline for future updates.

Positive factors

  • JORC/NI 43-101 compliant
  • QP/CP signed
  • Cut-off grade disclosed
  • Metal equivalent assumptions disclosed

Negative factors

  • Stale estimate (effective date 2021)
  • Inferred resource category

Evidence · table

“6.72”

Context: 1,725

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: reporting_standards includes jorc

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.3 years before this release

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.