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Mithril Silver and Gold Limited (ASX:MTH)

ALERT: Price-sensitive ASX Announcement for MTH
Current share price for MTH : $0.245 0.015 (6.52%)+
Announcement
Release
30 Jun 2026 10:05AM
Price at Release
$0.230
Full Release
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Summary
Mithril Silver and Gold Limited announced an upgraded Mineral Resource Estimate (MRE) for the Target 1 deposit at its Copalquin Project, highlighting a significant increase in indicated resources. The updated resource is now predominantly composed of indicated resources, accounting for 75% of the total gold and silver, and is constrained within preliminary mining shapes that incorporate expected dilution. This provides a more practical basis for future engineering and economic studies. The discovery cost remained below US$20 per ounce of gold equivalent due to efficient drilling practices. The resource remains open and offers multiple expansion opportunities while applying geological insights across other targets in the Copalquin system.
Key Points
  • 196% increase in higher-confidence indicated gold and silver compared to previous Mineral Resource Estimate (MRE).
  • 75% of total gold and silver now classified as indicated resources.
  • Resource is constrained within preliminary underground mining shapes and incorporates expected mining dilution.
  • High confidence resource remains open along strike and at depth with opportunities for expansion.
  • Overall Target 1 MRE discovery cost was less than US$20 per ounce AuEq from approximately 60,000 meters of drilling.
  • Geological insights from Target 1 are being applied across multiple high-grade targets in the Copalquin epithermal system.
  • The resource upgrade is directly applicable to mine planning rather than just a geological inventory.
  • Indicated resources total 3.391 million tonnes grading 3.15 g/t gold and 77.8 g/t silver.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.