Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) has reported assay results from 35 drill holes at its Cruz de Plata silver-gold project in Durango, Mexico, confirming high-grade silver-equivalent mineralisation across all three major target areas. The results include two newly discovered high-grade zones at depth in Target Area B and bonanza-grade intercepts exceeding 1,000 g/t AgEq in Target Areas A and C. The company also announced that the Jesus Maria Silver Trend has now been extended to a drilled strike length of 2.8 kilometres, a development investors may view as a meaningful expansion of the project's known footprint.

Key Points

  • Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) operates the Cruz de Plata silver-gold project in Durango, Mexico
  • Assay results from 35 drill holes confirm high-grade silver-equivalent mineralisation at all three priority target areas within the 60,000-metre drill program
  • Standout intercepts include 1,363.1 g/t AgEq over 1.1 m in drill hole 26-JMDD-09 and 1,123.6 g/t AgEq over 1.0 m in drill hole 26-ERDD-14; two new high-grade zones discovered at depth in Target Area B
  • Assays remain pending for 78 additional drill holes; a Pilot Televiewer Survey has commenced to collect new structural data

Two New High-Grade Zones Discovered East of the Peñoles Fault in Target Area B

Drilling at Target Area B yielded two newly identified high-grade silver zones at depth. Drill hole 26-ERRC-63 intersected a 70-metre-wide zone of mineralisation, returning 848.0 g/t AgEq over 1.5 m within a wider interval of 29.0 m grading 181.4 g/t AgEq, alongside a lower zone of 429.9 g/t AgEq over 1.5 m within 3.0 m of 340.5 g/t AgEq. Drill hole 26-SRRC-32 intersected six separate silver-mineralised zones, highlighted by 889.9 g/t AgEq over 1.5 m within a wider interval of 27.4 m of 142.4 g/t AgEq. The release states both zones remain open along strike and at depth, with follow-up drilling being coordinated.

Bonanza-Grade Results Confirm Depth Potential at Target Area C Near the Historic Jesus Maria Mine

At Target Area C, drilling near the historic Jesus Maria Mine continued to extend mineralisation between 35 and 150 metres down-dip from previously reported intersections. Drill hole 26-JMDD-09 returned 1,363.1 g/t AgEq over 1.1 m within a wider interval of 3.1 m of 731.3 g/t AgEq, as well as multiple additional mineralised zones. Other holes in this target area, including 26-JMDD-04, 06, 08, all returned values exceeding 300 g/t AgEq. The release states all holes in this target reported significant silver-equivalent mineralisation, reinforcing the vertical continuity of the mineralised system.

Target Area A Diamond Drilling Extends Jesus Maria Vein to Depth from El Refugio Mine

Diamond core drilling at Target Area A focused on extending the main Jesus Maria Vein down-dip from the historic El Refugio Mine. Drill hole 26-ERDD-14 returned the strongest intercept in this zone at 1,123.6 g/t AgEq over 1.0 m, while five holes overall returned grades exceeding 500 g/t AgEq. The release notes base metal tenors are increasing as drilling reaches deeper, higher-temperature portions of the mineralised system, a pattern the company says is consistent with what is observed at the Jesus Maria Mine area to the west. Drill hole 26-ERDD-18 also returned a notable 648.2 g/t AgEq over 1.1 m.

78 Drill Holes Pending Assay as Televiewer Survey Commences Across Cruz de Plata

The 60,000-metre program at Cruz de Plata continues with four drill rigs active on site. The company's reverse circulation rig has shifted to a double shift to accelerate drilling of newly permitted targets. As of the announcement date, assay results remain pending for 78 drill holes comprising 31 core and 47 RC holes, with new results arriving weekly. A Pilot Televiewer Survey has also commenced to collect updated structural data. The immediate share price impact was not clear from available public information.