# Mithril Silver And Gold June 2026 Quarterly Report Upgraded T1 MRE And District Expansion Drill Program

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b

Original source: https://www.thenewswire.com/press-releases/1BR1FDgwO-mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district-expansion-drill-program.html

Publisher: thenewswire

Original announcement: 2026-07-31T06:13:54.294Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas 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 factor: Significant MRE upgrade with 196% increase in Indicated gold/silver

- Positive factor: 75% of total resource now classified as Indicated

- Positive factor: Resource constrained within preliminary underground mining shapes

- Positive factor: High-grade drill intercepts at Target 3 and Target 5

Facts used in scoring: 8

## Classification and evidence

**Category Upgrade**

Polarity: positive

Definition: 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 Resource**

Polarity: positive

Definition: 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 Intercept**

Polarity: positive

Definition: 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 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: 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)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-0)

gold

#### 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 factor: 75% Indicated classification

- Positive factor: Mining shape constrained

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-1)

silver

#### 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 factor: High silver grade

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-2)

gold

#### 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 factor: Inferred category

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-3)

silver

#### 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 factor: Inferred category

### drill\_results

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-4)

gold

#### 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 factor: High grade intercept

### drill\_results

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-5)

silver

#### 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 factor: Bonanza silver grade

### drill\_results

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-6)

gold

#### 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 factor: Bonanza gold intercept

### drill\_results

[Link to this fact](https://atlas-staging.minestarters.com/news/mithril-silver-and-gold-june-2026-quarterly-report-upgraded-t1-mre-and-district--1d951abb-2af9-4bf7-b37d-fe91dffea31b#fact-resource-facts-7)

silver

#### 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.