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• Capitan Silver announced that it has commenced its Phase 1 exploration program targeting 10,000m of RC drilling at its Cruz de Plata silver-gold project.
• The program will target previously identified high-grade silver targets at Jesus María and the Gully Fault zone.
• An updated Mineral Resource Estimate is planned for the Capitan Hill Oxide Gold Deposit in Q2/25.
• Read our initiation report here, for a deep breakdown into the Cruz de Plata Project.
This morning, Capitan Silver announced that drilling has commenced as part of its Phase 1 drill program on the high-grade silver Cruz de Plata Project in Durango, Mexico. The program will target an initial 10,000m of RC drilling and will be focused on high-priority silver targets identified from prior work programs. We broke down the plans for the Phase 1 drill campaign in our previous research note on March 4th (find it here). As previously announced, Capitan has plans to update its Mineral Resource on the Capitan Hill Oxide Gold deposit with an additional 12,000m+ of drilling included in the database. We are maintaining our BUY rating and our $0.80/share target price on CAPT.
Phase 1 Overview
CAPT’s 2025 Phase 1 exploration program focuses on expanding and defining high-grade silver mineralization at the Cruz de Plata project. The program includes definition and step-out drilling at Jesus María, where surface sampling has extended the mineralized footprint to 2.6km in strike. Previously results included 3,567 g/t AgEq over 0.9m within 381 g/t AgEq over 13.7m, 1,431 g/t AgEq over 1.5m within 314 g/t AgEq over 10.7m, and 739 g/t AgEq over 1.5m, amongst others.
Step-out drilling along the Gully Fault zone to the northeast will target a younger style of high-grade silver-gold mineralization. Highlights from previous drilling here included 1,024 g/t AgEq over 7.15m within 244 g/t AgEq over 42.0m, and 1,099 g/t AgEq over 1.5m and 1,267 g/t AgEq over 1.5m within 207 g/t AgEq over 42.7m, and 2,250 g/t AgEq over 1.5m within 309 g/t AgEq over 16.8m. Additionally, Capitan plans to advance new high-grade silver drill targets on parallel structures north of Jesus María, with a total of eight mineralized structures identified across a 7km cumulative strike length.
CAPT: Drilling Commences at the Cruz De Plata Project
What you need to know:• Capitan Silver announced that it has commenced its Phase 1 exploration program targeting 10,000m of RC drilling at its Cruz de Plata silver-gold project.
• The program will target previously identified high-grade silver targets at Jesus María and the Gully Fault zone.
• An updated Mineral Resource Estimate is planned for the Capitan Hill Oxide Gold Deposit in Q2/25.
• Read our initiation report here, for a deep breakdown into the Cruz de Plata Project.
This morning, Capitan Silver announced that drilling has commenced as part of its Phase 1 drill program on the high-grade silver Cruz de Plata Project in Durango, Mexico. The program will target an initial 10,000m of RC drilling and will be focused on high-priority silver targets identified from prior work programs. We broke down the plans for the Phase 1 drill campaign in our previous research note on March 4th (find it here). As previously announced, Capitan has plans to update its Mineral Resource on the Capitan Hill Oxide Gold deposit with an additional 12,000m+ of drilling included in the database. We are maintaining our BUY rating and our $0.80/share target price on CAPT.
Phase 1 Overview
CAPT’s 2025 Phase 1 exploration program focuses on expanding and defining high-grade silver mineralization at the Cruz de Plata project. The program includes definition and step-out drilling at Jesus María, where surface sampling has extended the mineralized footprint to 2.6km in strike. Previously results included 3,567 g/t AgEq over 0.9m within 381 g/t AgEq over 13.7m, 1,431 g/t AgEq over 1.5m within 314 g/t AgEq over 10.7m, and 739 g/t AgEq over 1.5m, amongst others.
Step-out drilling along the Gully Fault zone to the northeast will target a younger style of high-grade silver-gold mineralization. Highlights from previous drilling here included 1,024 g/t AgEq over 7.15m within 244 g/t AgEq over 42.0m, and 1,099 g/t AgEq over 1.5m and 1,267 g/t AgEq over 1.5m within 207 g/t AgEq over 42.7m, and 2,250 g/t AgEq over 1.5m within 309 g/t AgEq over 16.8m. Additionally, Capitan plans to advance new high-grade silver drill targets on parallel structures north of Jesus María, with a total of eight mineralized structures identified across a 7km cumulative strike length.
Underlying
CAPITAN SILVER CORP
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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