Mithril Silver and Gold Ltd Accelerates Exploration Progress in September 2025
Mithril Silver and Gold Limited (ASX: MTH, TSXV: MSG) released its September 2025 quarterly activities report on 30 October 2025, outlining a series of drilling and mapping initiatives that underscore the company’s continued momentum in the Copalquin District of Durango State, Mexico.
Key Highlights from the September Quarter
| Activity | Status |
|---|---|
| Drilling at Target 3 | Two drills completed, a third scheduled |
| Drilling at Target 5 | Ongoing |
| Drilling at Target 1 | Expanding resource footprint; refining 3‑D geological model |
| Systematic mapping & sampling | Identified continuous mineralisation spanning 9 km horizontally and 1,300 m vertically across the district’s southern half |
John Skeet, Managing Director and CEO, emphasized that “the September quarter marked another strong period of progress for Mithril.” He noted that the company is rapidly advancing its district‑scale geology model, with a focus on uncovering the feeder systems that drive gold‑silver mineralisation across multiple deposits.
Exploration Strategy
The company’s exploration strategy hinges on a phased drilling approach that builds a comprehensive 3‑D geological model. By targeting multiple drilling locations—Targets 1, 3, and 5—Mithril aims to:
- Confirm the continuity of mineralisation identified by prior mapping efforts.
- Refine resource estimates to support future development decisions.
- Validate the structural controls that underlie the district’s gold‑silver system.
The report also highlights the company’s commitment to systematic sampling, which has proven effective in delineating the extent of mineralisation and guiding subsequent drilling plans.
Financial Context
- Market Capitalisation: A$96.4 million
- Close Price (29 Oct 2025): A$0.53
- 52‑Week High: A$0.73 (1 Sept 2025)
- 52‑Week Low: A$0.28 (6 Apr 2025)
- Price‑Earnings Ratio: –32.72
Despite a negative P/E ratio—reflective of its exploration‑phase status—Mithril’s share price has demonstrated resilience, trading within a narrow band above the 52‑week low. The company’s focus on exploration progress, rather than immediate cash flow generation, aligns with its long‑term strategy to unlock value from the Copalquin District.
Forward‑Looking Statements
Mithril has indicated that future drilling at Target 1 will continue to expand the resource footprint and refine its geological model. The company’s management maintains confidence that the current trajectory will position it for a potential transition from exploration to development, contingent on the outcomes of upcoming drilling campaigns and further geological analyses.
Conclusion
The September 2025 quarterly activities report underscores Mithril Silver and Gold Ltd’s sustained effort to advance its exploration program in the Copalquin District. By completing multiple drilling programs and expanding its geological understanding, the company is positioning itself for future resource definition and potential development. As the company continues to execute its phased drilling strategy, stakeholders will closely monitor subsequent reports for updates on resource estimates and the overall viability of its mining prospects.
