Capitan Silver Announces Arrival of 4th Drill Rig at the Cruz De Plata Project
Rhea-AI Summary
Capitan Silver (OTCQX: CAPTF) reported that a fourth drill rig has arrived at its Cruz de Plata silver-gold project in Durango, Mexico, completing a four‑rig fleet (three core, one RC).
The rigs support a 60,000‑metre 2026 drill program, with 61 holes pending assays and multiple high‑grade silver-equivalent targets (A, B, C) being tested along and across the Peñoles Fault and Jesus Maria Silver Trend.
Positive
- Fourth drill rig completes four‑rig fleet at Cruz de Plata
- Largest drill program in company history at 60,000 metres for 2026
- Three new diamond rigs targeting high‑grade silver zones at depth
- 61 drill holes pending final assays, offering significant news flow potential
- Multiple previously reported high‑grade AgEq intercepts above 2,000 g/t over 1.5m
- Reported metallurgical recoveries: Ag 94%, Au 86%, Pb 93.5%, Zn 92%
Negative
- Target B described as early stage with only widely spaced, shallow drilling
- True widths at new drill targets and discoveries currently unknown
News Market Reaction – CAPTF
In the Jun 11 session, CAPTF gained 3.30%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - June 11, 2026) - Capitan Silver Corp. (TSXV: CAPT) (OTCQX: CAPTF) ("Capitan" or "the Company") is pleased to report that a fourth (4th) drill rig has arrived on site at the Company's Cruz de Plata silver-gold project in Durango, Mexico. The newly arrived core rig, which is expected to commence drilling imminently, joins a reverse circulation ("RC") rig and two core rigs that are already drilling on the property.
Highlights:
- Drilling activity continues to ramp up as the fourth (4th) of four (4) rigs has arrived at Cruz de Plata
- This new rig is the third (3rd) of three (3) diamond (core) drill rigs that have joined the existing RC drill rig that has been drilling on the property since March 2025
- The additional rigs are part of an aggressive 60,000-metre drilling campaign for 2026, which is the largest drill program in the Company's history
- All three new diamond drill rigs are focused on testing and expanding the high-grade silver zones identified at Cruz de Plata along strike and at depth
- Catalysts: 61 drill holes pending final assays: (36 core and 25 RC)
Newly Arrived Core Rig to Test High-Grade Targets East of Peñoles Fault, Below San Rafael
The newly arrived core rig's immediate focus will be testing high-grade targets east of the Peñoles Fault, proximal to the historically producing San Rafael area, while providing more information about mineralization intersected in previously reported drill holes 25-ERRC-20, 25-ERRC-32, 25-ERRC-43, and 26-SRRC-08 (see Figures 1 and 2, Target B).
The third core rig will also focus on confirming vertical continuity and expanding previously identified broad mineralization encountered by RC drilling in this target area down-dip. Target area B is another new, developing high-grade zone, and has been interpreted to contain multiple subparallel zones of silver mineralization that remain at an early stage of exploration, with only widely spaced, shallow drilling having taken place.
Testing Priority Targets in Three Main Areas
While the newly arrived core rig's immediate focus will be on testing Target B, the other core rigs are focused on expanding mineralization deeper at the following targets (see Figures 1 and 2):
- Target A: Core drilling is focused on expanding recently defined high-grade mineralization immediately to the west of the Peñoles Fault (see Figures 1 and 2, Target A). Drilling in this area will target mineralization both at depth and down plunge of previously reported holes 25-ERRC-12, 26, 34, 38, 52, and 26-ERDD-08.
- Target C: Core drilling is focused on targeting high-grade silver mineralization on the western end of the Jesus Maria Silver Trend, including the Gully Fault Zone, central portions of the Jesus Maria vein, and beneath portions of Capitan Hill, and will focus on extending the mineralized envelope deeper, while providing more information about mineralization intersected in previously reported drill holes 21-JMRC-01, 21-JMRC-10, and JM-DDH-13-06 (see Figures 1 and 2, Target C).
- RC drilling continues to focus on testing shallow targets along the Jesus Maria Silver Trend, mainly east of the Peñoles Fault.
Figure 1: Cruz de Plata drill plan map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7373/301050_8114536fc46d580a_002full.jpg
Figure 2: Cruz de Plata long section target areas with 2.5km of drilled continuity
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7373/301050_8114536fc46d580a_003full.jpg
Previously Announced Drill Highlights for Target A Include:
Drill hole 25-ERRC-12 (see Capitan news release dated September 2, 2025)
- 25-ERRC-12 intersected 2,571.0 g/t AgEq over 1.5m, within a wider interval of 1,369.3 g/t AgEq over 4.6m, occurring within a broader zone of 368.1 g/t AgEq over 19.8m
Drill hole 25-ERRC-26 (see Capitan news release dated November 11, 2025)
Upper zone: intersected 612.9 g/t AgEq over 1.5m, within a broader zone of 155.9 g/t AgEq over 6.1m
Lower zone: intersected 1,767.4 g/t AgEq over 1.5m, within a broader zone of 1,222.1 g/t AgEq over 3m, which is part of a wider interval of 234.2 g/t AgEq over 25.9m
Drill hole 25-ERRC-34 (see Capitan news release dated February 2, 2026)
- 25-ERRC-34 intersected 1,130.1 g/t AgEq over 1.5m, within a broader zone of 240.5 g/t AgEq over 25.9m
Drill hole 25-ERRC-38 (see Capitan news release dated February 26, 2026)
25-ERRC-38 intersected four (4) separate high-grade structures, including 2,451.1 g/t AgEq over 1.5m, within a wider interval of 1,283.4 g/t AgEq over 4.6m, occurring within a broader zone of 683.6 g/t AgEq over 9.1m
25-ERRC-38 also intersected 1,187 g/t AgEq over 1.5m, within a wider zone of 194.3 g/t AgEq over 16.8m
Drill hole 25-ERRC-52 (see Capitan news release dated April 1, 2026)
- 25-ERRC-52 intersected multiple high-grade silver intercepts, including:
- 1,450.5 g/t AgEq over 1.5m, within a broader zone of 1,131.5 g/t AgEq over 3.0m
- 468.3 g/t AgEq over 4.6m
- 574.6 g/t AgEq over 3.0m
- All contained within a broad interval of 211.0 g/t AgEq over 41.1m
Drill hole 26-ERDD-08 (see Capitan news release dated May 11, 2026)
- 26-ERDD-08 intersected 934.6 g/t AgEq over 1.3m, within a wider interval of 157.3 g/t AgEq over 20.0m
Previously Announced Drill Highlights for Target B Include:
Drill hole 25-ERRC-20 (see Capitan news release dated October 14, 2025)
- 25-ERRC-20 intersected 1,541 g/t AgEq over 1.5m, within a broader interval of 201.65 g/t AgEq over 18.3m
Drill hole 25-ERRC-32 (see Capitan news release dated February 10, 2026)
- 25-ERRC-32 intersected 1,254.8 g/t AgEq over 1.5m, within a wider interval of 157.3 g/t AgEq over 16.8m
Drill hole 25-ERRC-43 (see Capitan news release dated February 26, 2026)
- 25-ERRC-43 intersected multiple broad intervals of silver equivalent mineralization, including 225.3 g/t AgEq over 1.5m, within a wider interval of 59.3 g/t AgEq over 12.2m
Drill hole 26-SRRC-08 (see Capitan news release dated May 11, 2026)
Upper zone: Intersected 213.7 g/t AgEq over 1.5m
Lower zone: Intersected 164.2 g/t AgEq over 6.1m, within a wider interval of 61.8 g/t AgEq over 39.6m
Previously Announced Drill Highlights for Target C Include:
Drill hole JM-DDH-13-06 (completed by a previous operator in 2013, re-reported in 2022; see Capitan news release dated February 16, 2022)
- JM-DDH-13-06 intersected 3,567.4 g/t AgEq over 0.9m, within a wider zone of 381.1 g/t AgEq over 13.7m
Drill hole 21-JMRC-01 (see Capitan news release dated February 16, 2022)
- 21-JMRC-01 intersected five (5) separate high-grade intervals, including 1,099.3 g/t AgEq over 1.52m, 1,267.2 g/t AgEq over 1.52m, 311.3 g/t AgEq over 3.0m, 341.6 g/t AgEq over 1.52m, and 276.9 g/t AgEq over 1.52m, all within a broader zone of 42.7m of 207.8 g/t AgEq
Drill hole 21-JMRC-10 (see Capitan news release dated May 2, 2022)
Upper zone: intersected 2,250.1 g/t AgEq over 1.5m, within a broader zone of 447.3 g/t AgEq over 9.1m, all within a wider interval of 309.8 g/t AgEq over 16.8m
Lower zone: intersected 308.8 g/t AgEq over 7.6m, within a wider zone of 171.3 g/t AgEq over 13.7m
Metal Recovery: Ag
AgEq considers Ag, Au, Pb and Zn and calculated as follows: AgEq = Ag g/t + (80x Au g/t) + (0.003 x Pb g/t) + (0.0037 x Zn g/t). High grades have not been capped. RC and Diamond Core Drill samples have been analysed at SGS labs in Durango using fire assay and Four-acid multi-element analysis with the following codes: GE-FAA30V6 and GEICP40Q12, with over assays using the following codes: GO_FAG37V for Au and Ag. QAQC: Capitan Silver maintains a rigorous QAQC program and inserts multiple standards, blanks and duplicates into the sample stream at regular intervals. Check Assays are performed at ALS laboratories in Zacatecas, Mexico. True widths along the Jesús María Trend are estimated to be 70
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Marc Idziszek, P.Geo, Vice President Exploration of Capitan, and a "qualified person" (with the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects).
About Capitan Silver Corp.
Capitan Silver is defining a new high-grade silver system at its Cruz de Plata project, located in the heart of Mexico's primary silver belt. The Company is led by a proven and accomplished management team that has previously advanced three projects into production, on time and on budget. The Company has been diligent in maintaining a tight share structure and has one of the tightest share structures among its peer group, with the top three shareholders owning approximately
ON BEHALF OF CAPITAN SILVER CORP.
"Alberto Orozco"
Alberto Orozco, CEO
For Additional Information Contact:
| Alberto Orozco, CEO Capitan Silver Corp. info@capitansilver.com | Greg DiTomaso, Investor Relations Capitan Silver Corp. info@capitansilver.com Phone: (416) 433-2801 www.capitansilver.com |
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). All statements, other than statements of historical fact, contained in this news release are forward-looking statements. These forward-looking statements, by their nature, require Capitan to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of future performance.
Forward-looking statements may be identified by the use of words or phrases such as "may", "will", "would", "could", "should", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", "objective", "potential", "target", "strategy", "project", "forecast", "outlook", "scheduled", "seek", "explore" and other similar terminology, as well as terms usually used in the future and the conditional, and the negatives thereof, or comparable terminology, are intended to identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements with respect to: expectations regarding the Company's 2026 drilling program at the Cruz de Plata project, including the planned 60,000-metre multi-rig program; anticipated timing and results of future assay results; the potential scale, continuity, and grade of mineralization at the Cruz de Plata project; the potential to expand known zones of mineralization; the prospectivity of the Cruz de Plata project and its exploration potential; management's beliefs regarding the mineralized system at Cruz de Plata; and the Company's strategy and exploration objectives.
The forward-looking statements contained in this news release are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions and expectations regarding: the continued validity of exploration results and geological interpretations; the ability to complete planned exploration programs on time and within budget; the availability of financing for future exploration and development activities; commodity prices remaining at levels that support continued exploration; the ability to obtain and maintain all necessary permits and approvals; the accuracy of current mineral resource estimates; the continuity of mineralization between drill holes; and general economic and business conditions. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, they may prove to be incorrect, and the Company cannot assure investors that actual results will be consistent with these forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to: exploration and development risks, including risks related to the interpretation of geological data and exploration results; the uncertainty of mineral resource estimates; risks inherent in the mining industry including environmental hazards, industrial accidents, unusual or unexpected geological formations, pressures, cave-ins, flooding, and the risk of inadequate insurance or inability to obtain insurance; fluctuations in commodity prices; currency exchange rate fluctuations; risks related to obtaining and maintaining necessary permits and licenses; risks related to the Company's title to its mineral properties; risks related to the political and economic climate in Mexico; regulatory changes; reliance on key personnel; competition in the mining industry; risks related to the Company's ability to raise additional capital; dilution to existing shareholders; risks related to global economic conditions and market volatility; environmental risks and hazards; and other risks and uncertainties described in the Company's public filings.
The foregoing list of risks and uncertainties is not exhaustive. For a more complete discussion of the risk factors affecting the Company, readers are encouraged to review the Company's filings available on SEDAR+ (www.sedarplus.ca) under the Capitan's issuer profile.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301050