Mithril Silver And Gold June 2026 Quarterly Report Upgraded T1 MRE And District Expansion Drill Program
Original announcement by thenewswire on
- Company
- Mithril Silver and Gold Limited
- Ticker
- MSG
- Exchange
- Unavailable
- Region
- Durango State, Mexico
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Resource update, Drill results
- Extracted
- 2026-08-03 10:21:15 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Mithril Silver and Gold has reported a significant upgrade to its Copalquin Target 1 Mineral Resource Estimate, with 75% of the resource now classified as Indicated. The upgrade incorporates preliminary underground mining shapes and dilution, providing a more realistic basis for economic evaluation. Additionally, new drill results from Target 3 and Target 5 have confirmed high-grade gold and silver mineralization.
Reasoning: The upgrade to 75% Indicated resource and the inclusion of mining shapes significantly de-risks the project, while new drill results confirm district-scale continuity.
Positive factors
- Significant MRE upgrade with 196% increase in Indicated gold/silver
- 75% of total resource now classified as Indicated
- Resource constrained within preliminary underground mining shapes
- High-grade drill intercepts at Target 3 and Target 5
Facts used in scoring: 8
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: 196% increase in higher-confidence indicated gold and silver compared to previous MRE.
Evidence · text
“196% increase in higher-confidence indicated gold and silver compared to previous MRE.”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: 75% of total gold and silver now classified as indicated Resource.
Evidence · text
“75% of total gold and silver now classified as indicated Resource”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: 33.2 g/t gold exceeds the underground exceptional threshold.
Evidence · table
“33.20”
Context: 0.50
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: Resource estimate supervised by John Sims, a Qualified Person (QP) and Competent Person (CP).
Evidence · text
“supervised by John Sims, President of Sims Resources LLC, an independent contractor and Qualified Person (QP), and Competent Person (CP)”
Extracted facts
Stored fact records: 8. Some facts used in scoring do not have a stored record.
Resource Estimates (8)
indicatedgoldTonnes: 3391000Grade: 3.15Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- MSG
Resource Data
- Category
- indicated
- Tonnes
- 3391000
- Grade
- 3.15
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Large scale indicated resource with high geological confidence.
Positive factors
- 75% Indicated classification
- Mining shape constrained
indicatedsilverTonnes: 3391000Grade: 77.8Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- MSG
Resource Data
- Category
- indicated
- Tonnes
- 3391000
- Grade
- 77.8
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Significant silver component in the indicated resource.
Positive factors
- High silver grade
inferredgoldTonnes: 1436000Grade: 2.23Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- MSG
Resource Data
- Category
- inferred
- Tonnes
- 1436000
- Grade
- 2.23
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Standard inferred resource component.
Negative factors
- Inferred category
inferredsilverTonnes: 1436000Grade: 73.6Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- MSG
Resource Data
- Category
- inferred
- Tonnes
- 1436000
- Grade
- 73.6
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Standard inferred resource component.
Negative factors
- Inferred category
drill_resultsgoldGrade: 6.2Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- MSG
Resource Data
- Category
- drill_results
- Grade
- 6.2
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Strong grade for a short interval in Target 5.
Positive factors
- High grade intercept
drill_resultssilverGrade: 764Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- MSG
Resource Data
- Category
- drill_results
- Grade
- 764
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Exceptional silver grade.
Positive factors
- Bonanza silver grade
drill_resultsgoldGrade: 33.2Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- MSG
Resource Data
- Category
- drill_results
- Grade
- 33.2
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: Very high grade gold intercept.
Positive factors
- Bonanza gold intercept
drill_resultssilverGrade: 5.9Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- MSG
Resource Data
- Category
- drill_results
- Grade
- 5.9
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-31T00:00:00.000Z
Reasoning: High grade gold drives the intercept.
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.