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• CAPT released assays for another nine holes from its 2025 RC drill program at Cruz de Plata.
• Drill Hole 25-ERRC-38 intersected 2,451 g/t AgEq over 1.5m, within 1,283 g/t over 4.6m, returning one of the best intercepts to date.
• Drill results include multiple high-grade intercepts and continue to grow the new high-grade zone down-dip and along section.
• The Company has commenced diamond drilling as part of its 60,000m 2026 drill program, and will target the new high-grade zone first.
This morning, Capitan Silver (CAPT:TSXV) released an additional nine holes from its 2025 RC program at Cruz de Plata, which included one of the top intercepts to date from Hole 25-ERRC-38, and continues to demonstrate continuity of high-grade zones. This morning’s results from the RC program once again delivered noteworthy grades, while expanding the new high-grade zone proximal to the Peñoles Fault both down-dip and along section. CAPT is now developing two additional zones on either side of the Fault, which were identified from 2025 drilling. The Company is ramping up diamond drilling as part of 2026’s 60,000m program (4x larger than 2025), and will start by targeting the new high-grade zone. We are maintaining our BUY rating and target price of $3.50/share on Capitan Silver.
Highlight intercepts:
• 25-ERRC-38: 2,451.1 g/t AgEq over 1.5m, within 1,283.4 g/t over 4.6m, within 683.6 g/t over 9.1m
• 25-ERRC-38: 1,187.0 g/t AgEq over 1.5m, within 194.3 g/t over 16.8m
• 25-ERRC-42: 476.4 g/t AgEq over 1.5m
• 25-ERRC-42: 419.8 g/t AgEq over 1.5m, within 152.0 g/t over 12.2m
• 25-ERRC-43: 225.3 g/t AgEq over 1.5m, within 59.3 g/t over 12.2m
Drill Hole 25-ERRC-38 was the highlight of this morning’s release, intersecting four separate high-grade structures with significant grades within broader widths, and extended mineralization down-dip along section by ~35-80m from a prior intercept of 1,130 g/t AgEq over 1.5m (Hole 25-ERRC-34). Drill Hole 25-ERRC-42 further extended the new high-grade zone ~10-20m to the east of previously reported Hole 25-ERRC-26, with multiple intervals exceeding 200 g/t (highlights above). In addition, Hole 25-ERRC-43 was collared 50m southeast of prior drilling, demonstrating further extensions at depth and along strike over broad intervals.
CAPT: 2,451 g/t AgEq over 1.5m; Diamond Drilling has Commenced
What you need to know:• CAPT released assays for another nine holes from its 2025 RC drill program at Cruz de Plata.
• Drill Hole 25-ERRC-38 intersected 2,451 g/t AgEq over 1.5m, within 1,283 g/t over 4.6m, returning one of the best intercepts to date.
• Drill results include multiple high-grade intercepts and continue to grow the new high-grade zone down-dip and along section.
• The Company has commenced diamond drilling as part of its 60,000m 2026 drill program, and will target the new high-grade zone first.
This morning, Capitan Silver (CAPT:TSXV) released an additional nine holes from its 2025 RC program at Cruz de Plata, which included one of the top intercepts to date from Hole 25-ERRC-38, and continues to demonstrate continuity of high-grade zones. This morning’s results from the RC program once again delivered noteworthy grades, while expanding the new high-grade zone proximal to the Peñoles Fault both down-dip and along section. CAPT is now developing two additional zones on either side of the Fault, which were identified from 2025 drilling. The Company is ramping up diamond drilling as part of 2026’s 60,000m program (4x larger than 2025), and will start by targeting the new high-grade zone. We are maintaining our BUY rating and target price of $3.50/share on Capitan Silver.
Highlight intercepts:
• 25-ERRC-38: 2,451.1 g/t AgEq over 1.5m, within 1,283.4 g/t over 4.6m, within 683.6 g/t over 9.1m
• 25-ERRC-38: 1,187.0 g/t AgEq over 1.5m, within 194.3 g/t over 16.8m
• 25-ERRC-42: 476.4 g/t AgEq over 1.5m
• 25-ERRC-42: 419.8 g/t AgEq over 1.5m, within 152.0 g/t over 12.2m
• 25-ERRC-43: 225.3 g/t AgEq over 1.5m, within 59.3 g/t over 12.2m
Drill Hole 25-ERRC-38 was the highlight of this morning’s release, intersecting four separate high-grade structures with significant grades within broader widths, and extended mineralization down-dip along section by ~35-80m from a prior intercept of 1,130 g/t AgEq over 1.5m (Hole 25-ERRC-34). Drill Hole 25-ERRC-42 further extended the new high-grade zone ~10-20m to the east of previously reported Hole 25-ERRC-26, with multiple intervals exceeding 200 g/t (highlights above). In addition, Hole 25-ERRC-43 was collared 50m southeast of prior drilling, demonstrating further extensions at depth and along strike over broad intervals.
Underlying
CAPITAN SILVER CORP
Provider
Atrium Research Corporation
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Ben Pirie
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