# Mithril Lidar Study Reveals 1.5 Km Trend And Historic Mines At La Dura Gold-Silver Project, Durango, Mexico Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95 Original source: https://money.tmx.com/en/quote/MSG/news/7684169194884852/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv Publisher: tmx Original announcement: 2026-02-25T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Mithril Silver and Gold Limited - Ticker: MSG - Exchange: TSX - Region: Durango, Mexico - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Drill results, Resource update - Extracted: 2026-08-25 22:56:52 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Mithril Silver and Gold Limited announced new exploration progress at its La Dura Gold-Silver Project in Durango, Mexico, including results from a LiDAR survey that identified a 1.5 km structural trend with historic mines, marking a high-priority drill target. The company also reported ongoing drilling at its Copalquin District, with assays pending, and re-stated its maiden JORC resource estimate from 2021 for Target 1. Reasoning: The company announced new exploration insights from a LiDAR survey identifying a significant structural trend and historic workings, which are now high-priority drill targets. While drilling is ongoing at other targets, no new assay results are reported, and the resource estimate presented is a re-statement of a 2021 estimate. - Positive factor: new\_drill\_target\_identified - Positive factor: exploration\_focus - Positive factor: high\_grade\_historic\_resource - Negative factor: stale\_resource\_estimate - Negative factor: assays\_pending Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 15 ## Classification and evidence **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The resource estimate is explicitly stated as being from 17 Nov 2021. Evidence · text > This maiden resource is detailed below \(see ASX release 17 November 2021\) **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The resource estimate is prepared in compliance with the JORC Code. Evidence · text > MAIDEN JORC RESOURCE **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is prepared in compliance with NI 43-101. Evidence · text > NI 43-101 Technical Report filed on SEDAR+ **QP/CP Signed** Polarity: positive Definition: 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 \(FAUSIMM, CP\) and Mr Rodney Webster \(Member of the Australian Institute of Geoscientists\) are named as Competent Persons/Qualified Persons. Evidence · text > Competent Persons Statement - JORC 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. Mr Skeet is a Fellow of the Australasian Institute of Mining and Metallurgy. This is a Recognised Professional Organisation \(RPO\) under the Joint Ore Reserves Committee \(JORC\) Code. Mr Skeet has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee \(JORC\) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Skeet consents to the inclusion in this report of the matters based on information in the form and context in which it appears. The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. The information in this announcement that relates to Mineral Resources is reported by Mr Rodney Webster, former Principal Geologist at AMC Consultants Pty Ltd \(AMC\), who is a Member of the Australian Institute of Geoscientists. The report was peer reviewed by Andrew Proudman, Principal Consultant at AMC. Mr Webster is acting as the Competent Person, as defined in the 2012 Edition of the Joint Ore Reserves Committee \(JORC\) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, for the reporting of the Mineral Resource estimate. A site visit was carried out by Jose Olmedo a geological consultant with AMC, in September 2021 to observe the drilling, logging, sampling and assay database. Mr Webster consents to the inclusion in this report of the matters based on information in the form and context in which it appears Qualified Persons – NI 43-101 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. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource estimate explicitly states a cut-off grade of 2.0 g/t AuEq. Evidence · text > using a cut-off grade of 2.0 g/t AuEq\* **Metal Equivalent Assumptions Disclosed** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document provides the gold:silver price ratio, metal prices, and recovery assumptions used for the gold equivalent calculation. Evidence · text > In determining the gold equivalent \(AuEq.\) grade for reporting, a gold:silver price ratio of 70:1 was determined, using the formula: AuEq grade = Au grade + \(\(Ag grade/70\) x \(Ag recovery/Au recovery\)\). The metal prices used to determine the 70:1 ratio are the cumulative average prices for 2021: gold USD1,798.34 and silver: USD25.32 \(actual is 71:1\) from kitco.com . For silver equivalent \(AgEq.\) grade reporting, the same factors as above are used with the formula AgEq grade = Ag grade + \(\(Au grade x 70\) x \(Au recovery/Ag recovery\)\) At this early stage, the metallurgical recoveries were assumed to be equal \(93%\). **Inferred Resource** Polarity: negative Definition: 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 \(1,725 kt out of 2,416 kt total\) is classified as Inferred. Evidence · table > 1,725 Context: Total **Exploration Focus** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document details a LiDAR study for exploration, ongoing drilling at new targets, and an aggressive exploration program for 2026. Evidence · text > Mithril is undertaking an aggressive exploration program in 2026, with up to 25,000 metres of drilling planned during the first 8 months of the year across the Copalquin District. **New Drill Target Identified** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: A LiDAR survey identified a 1.5 km long structural corridor with historic workings as a high-priority drill target at La Dura. Evidence · text > The identification of a 1.5 kilometre long structural corridor hosting multiple historic shafts and adits, including the four-level La Dura mine, defines an obvious high-priority drill target. **Assays Pending** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: Maiden drilling at Target 3 has intersected mineralised quartz veins, but assays are pending. Evidence · text > Early signs are highly encouraging, with mineralised quartz vein structures intercepted at predicted depths \(assays pending\). ## Extracted facts Stored fact records: 15. Some facts used in scoring do not have a stored record. ## Drill Results (15) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-0) El Refugio · gold Historical result Needs review: historical\_restatement #### Identity - Project: El Refugio - Commodity: gold - Ticker: MSG #### Geometry - Grade: 5.43 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 5.43 Context: 691 ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-1) El Refugio · silver Historical result Needs review: historical\_restatement #### Identity - Project: El Refugio - Commodity: silver - Ticker: MSG #### Geometry - Grade: 114.2 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 114.2 Context: 691 ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-2) El Refugio · gold Historical result Needs review: historical\_restatement #### Identity - Project: El Refugio - Commodity: gold - Ticker: MSG #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Metal Eq. Grade: 7.06 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 7.06 Context: 691 ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-3) El Refugio · gold Historical result Needs review: historical\_restatement #### Identity - Project: El Refugio - Commodity: gold - Ticker: MSG #### Geometry - Grade: 4.63 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 4.63 Context: 1,447 ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-4) El Refugio · silver Historical result Needs review: historical\_restatement #### Identity - Project: El Refugio - Commodity: silver - Ticker: MSG #### Geometry - Grade: 137.1 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 137.1 Context: 1,447 ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-5) El Refugio · gold Historical result Needs review: historical\_restatement #### Identity - Project: El Refugio - Commodity: gold - Ticker: MSG #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Metal Eq. Grade: 6.59 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 6.59 Context: 1,447 ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-6) La Soledad · gold Historical result Needs review: historical\_restatement #### Identity - Project: La Soledad - Commodity: gold - Ticker: MSG #### Geometry - Grade: 4.12 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 4.12 Context: 278 ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-7) La Soledad · silver Historical result Needs review: historical\_restatement #### Identity - Project: La Soledad - Commodity: silver - Ticker: MSG #### Geometry - Grade: 228.2 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 228.2 Context: 278 ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-8) La Soledad · gold Historical result Needs review: historical\_restatement #### Identity - Project: La Soledad - Commodity: gold - Ticker: MSG #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Metal Eq. Grade: 7.38 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 7.38 Context: 278 ### Fact 10 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-9) Target 1 · gold Historical result Needs review: historical\_restatement #### Identity - Project: Target 1 - Commodity: gold - Ticker: MSG #### Geometry - Grade: 5.43 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 5.43 Context: 691 ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-10) Target 1 · silver Historical result Needs review: historical\_restatement #### Identity - Project: Target 1 - Commodity: silver - Ticker: MSG #### Geometry - Grade: 114.2 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 114.2 Context: 691 ### Fact 12 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-11) Target 1 · gold Historical result Needs review: historical\_restatement #### Identity - Project: Target 1 - Commodity: gold - Ticker: MSG #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Metal Eq. Grade: 7.06 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 7.06 Context: 691 ### Fact 13 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-12) Target 1 · gold Historical result Needs review: historical\_restatement #### Identity - Project: Target 1 - Commodity: gold - Ticker: MSG #### Geometry - Grade: 4.55 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 4.55 Context: 1,725 ### Fact 14 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-13) Target 1 · silver Historical result Needs review: historical\_restatement #### Identity - Project: Target 1 - Commodity: silver - Ticker: MSG #### Geometry - Grade: 151.7 - Grade Unit: g/t #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 151.7 Context: 1,725 ### Fact 15 [Link to this fact](https://atlas-staging.minestarters.com/news/mithril-lidar-study-reveals-1-5-km-trend-and-historic-mines-at-la-dura-gold-silv--fbc9343f-8294-419c-bc21-4eefd4998c95#fact-drill-facts-14) Target 1 · gold Historical result Needs review: historical\_restatement #### Identity - Project: Target 1 - Commodity: gold - Ticker: MSG #### Classification - Deposit Type: epithermal - Mining Method: underground #### Metal Equivalent - Metal Eq. Grade: 6.72 - Metal Eq. Unit: g/t AuEq - Assumptions Disclosed: Yes #### Compositing - Cutoff Grade: 2 - Cutoff Unit: g/t AuEq #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2021-11-17T00:00:00.000Z #### Dates - Event date: 2026-02-25T00:00:00.000Z Reasoning: This resource estimate is a re-statement of a 2021 maiden resource, thus having low novelty, but it is JORC and NI 43-101 compliant with disclosed cut-off and metal equivalent assumptions, indicating good reporting standards. A significant portion remains in the inferred category. - Positive factor: high\_grade\_historic\_resource - Positive factor: jorc\_compliant - Positive factor: ni\_43\_101\_compliant - Positive factor: qp\_signed - Positive factor: cut\_off\_disclosed - Positive factor: metal\_equivalent\_assumptions\_disclosed - Negative factor: stale\_resource\_estimate - Negative factor: inferred\_resource Evidence · table > 6.72 Context: 1,725 ## 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.