Capitan Silver Intersects 1,450.5 g/t Silver Equivalent over 1.5 Metres, Within a Wider Zone of 211.0 g/t Silver Equivalent over 41.1 Metres at the Cruz De Plata Project
Capitan Silver Intersects 1,450.5 g/t Silver
Equivalent over 1.5 Metres, Within a Wider
Zone of 211.0 g/t Silver Equivalent over 41.1
Metres at the Cruz De Plata Project
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2026) -
Capitan Silver Corp. (TSXV: CAPT)
(OTCQX: CAPTF) ("Capitan" or "the Company")
is pleased to report assay results from its 2025
reverse circulation ("
RC
") drill program at its Cruz de Plata silver-gold project, located in Durango,
Mexico. The Company is reporting assay results from ten (10) drill holes.
Highlights:
Discovery of another new high-grade silver zone developing at depth along the Jesus
Maria Silver Trend, 240m west of the Peñoles Fault
Drill hole 25-ERRC-52
returned multiple high-grade silver intercepts including:
1,450.5 g/t AgEq over 1.5m, within a broader zone of 1,131.5 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
25-ERRC-52 extended mineralization by 25m down-dip along section from previously
reported drill hole JEMA-02
JEMA-02 (
completed by previous operator Minera Fresnillo S. A. de C. V., see
Capitan news release dated December 6, 2022)
intersected
531.06 g/t AgEq over
1.3m, within a broader zone of 213.9 g/t AgEq over 6.85m, within a wider
interval of 93.3 g/t AgEq over 29m
Drill holes 25-ERRC-52 and previously reported drill hole 25-ERRC-38 (see Capitan news
release dated Feb 26, 2026) show evidence that mineralized silver zones have the
potential to get wider at depth and intercept multiple high-grade zones
Capitan's most advanced target at the Cruz de Plata Project, the Jesus Maria Silver Trend,
has only been drilled to an average depth of 188m along 2.5km of a 3.7km strike
A key objective of the Company's 60,000m drill program will be to extend mineralization to
depth along the Jesus Maria Silver Trend
Additional drilling along the Jesus Maria Silver Trend, west of the Peñoles Fault, returned
strong silver grades, extended mineralization at depth, and confirms continuity along
strike
Drill hole 25-ERRC-48
intersected multiple zones with strong silver values, including:
220.1 g/t AgEq over 1.5m, within a broader zone of 156.8 g/t AgEq over 3.0m
175.3 g/t AgEq over 3.0m, within a broader zone of 86.4 g/t AgEq over 15.2m
Drill hole 25-ERRC-48 extended mineralization 50m down-dip from previously announced
drill hole 25-ERRC-25
25-ERRC-25
(see Capitan news release dated November 11, 2025)
intersected
687.4 g/t AgEq over 1.5m, within a wider interval of 250.3 g/t AgEq over 6.1m
Drilling on eastern side of the Peñoles Fault extends silver mineralization
Drill hole 25-ERRC-44
returned multiple mineralized intervals, including
256.3 g/t AgEq
over 3.0m
New gold zone discovered to the north of the Jesus Maria Silver Trend, to the north of the
Gully Fault, and in close proximity to the Capitan Hill oxide gold deposit
Drill hole 25-JMRC-27
intersected
0.44 g/t Au over 24.4m
60,000m multi-rig drill program continues to gather momentum
: drilling is ramping up at Cruz
de Plata, with
three (3) of four (4) rigs
now on site. The fourth rig is expected to arrive on site in
the coming weeks. The Company's 2026 drill program will be comprised of three diamond (core)
rigs and one RC rig
Catalysts: Final assays pending for 38 drill holes
24 - RC holes
14 - Core holes
Property-wide airborne geophysical survey completed; results expected in Q2 2026.
These results will assist with definition of deeper targets property-wide
Alberto Orozco, CEO of Capitan Silver, commented:
"Drilling at Cruz de Plata continues to deliver high-grade results. These recent assays not only
continue to identify new high-grade zones of mineralization but also expand previously identified
mineralization along strike and at depth and demonstrate excellent continuity.
Additionally, I am excited by what we are seeing in terms of silver mineralization at depth. Specifically,
drill holes 25-ERRC-52 and 25-ERRC-38, which show that as we go deeper, we are seeing
mineralized zones getting larger and intersecting multiple high-grade vein structures. Given the nature
of intermediate sulfidation epithermal systems — which are known to have deep roots — these results
signal the potential for greater scale at depth, which we will be drill testing this year with diamond core
rigs."
Figure 1: Drill Plan Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7373/290837_capitanfig1.jpg
Discussion of Drill Results
Drilling at the Company's Cruz de Plata silver-gold project is ongoing, with the results reported in this
release from several areas on the property, including the Jesus Maria Silver Trend (both west and east
of the Peñoles Fault), the San Rafael area, as well as testing new targets along the Gully Fault. The most
significant development is
the discovery of a
new zone of high-grade silver mineralization at
depth,
located approximately 240m west of the Peñoles Fault and 130m west of a previously reported
new high-grade silver zone developing on the Jesus Maria Silver Trend, on the west side of the Peñoles
Fault.
Drill hole 25-ERRC-52
(see Figure 2) was collared at the same location as previously reported drill hole
JEMA-02 which was drilled by its previous owner, Minera Fresnillo S. A. de C. V. (a wholly owned
subsidiary of Fresnillo plc) and was subsequently acquired by Capitan in 2022 (see Capitan news
release dated December 6, 2022). Previously reported drill hole JEMA-02 intersected
531 g/t AgEq
over 1.3m within 214 g/t AgEq over 6.85m, within a wider zone of 93 g/t AgEq over 29m.
Drill hole 25-ERRC-52
returned a wide, strong zone of silver mineralization, with several
significant high-grade intervals including
1,450.5 g/t AgEq over 1.5m, within a wider zone of
1,131.5 g/t AgEq over 3.0m, 468.3 g/t AgEq over 4.6m, and 574.6 g/t AgEq over 3.0m, all within a
broad interval of 211.0 g/t AgEq over 41.1m.
This hole extended mineralization down-dip
approximately 25m from drill hole JEMA-02, with the zone remaining open along strike and at depth. The
diamond drill rig is currently completing additional drilling in this area, with results pending.
Figure 2: Cross section, drill hole 25-ERRC-52
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7373/290837_b53d9c3614b469a4_003full.jpg
Additional drilling along the Jesus Maria Silver Trend west of the Peñoles Fault continued to grow
mineralization at depth, as well as increase confidence and continuity of mineralization along strike.
Drill
holes 25-ERRC-39
,
25-ERRC-40
,
25-ERRC-41
,
25-ERRC-48
, and
25-ERRC-51
all targeted down-dip,
on-section extensions of mineralization along this trend. All drill holes returned multiple intervals of silver
mineralization and extended mineralization to depth, along section between 20m to 50m, with the best
values returned from holes 25-ERRC-48 and 51. Drill hole 25-ERRC-48 (see Figure 3) intersected
220.1 g/t AgEq over 1.5m, within
156.8 g/t AgEq over 3.0m
,
175.3 g/t AgEq over 3.0, within 86.4
g/t AgEq over 15.2m
, and drill hole 25-ERRC-51 intersected
171.8 g/t AgEq over 4.6m
and
175.7 g/t
AgEq over 3.0m
.
Figure 3: Cross section, drill hole 25-ERRC-48
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7373/290837_b53d9c3614b469a4_004full.jpg
Drilling at the Jesus Maria Silver Trend east of the Peñoles Fault continued to indicate that this area
consists of multiple, sub-parallel zones of silver mineralization with strong silver grades.
Drill hole 25-
ERRC-44
intersected multiple zones of silver mineralization, over broad widths with higher-grade cores.
Results include
256.3 g/t AgEq over 3.0m, within a broader zone of 181.3 g/t AgEq over 4.6m
and
138 g/t AgEq over 1.5m, within a wider interval of 63.5 g/t AgEq over 9.1m,
as well as
117.3 g/t
AgEq over 1.5m, within a broader zone of 78.8 g/t AgEq over 4.6m.
RC drilling in 2026 is focusing
on this area, and has continued to build out this zone to the east, as well as testing additional trends to
the north.
Evidence of Strong Silver Mineralization at Depth at the Jesus Maria Silver Trend
Given that the Cruz de Plata project is an intermediate sulphidation epithermal system, and that these
systems have the potential for strong vertical continuity, there is an interesting opportunity for silver
mineralized zones to widen at depth. Both drill hole 25-ERRC-52 and previously reported drill hole 25-
ERRC-38 (see Figures 2 and 4) illustrate this opportunity, with broad silver mineralized zones
intersecting multiple veins with higher silver grades being encountered at depth.
Thus far, the average hole depth for the 2025 program is 188m with a median depth of 173m, indicating
that the majority of the drilling at Cruz de Plata is still relatively shallow, and remains open to expansion at
depth. One of the key objectives of the 60,000m drill campaign that has been announced for 2026 is to
extend silver mineralization to depth along the Company's most advanced target, The Jesus Maria Silver
Trend.
Figure 4: Cross sections of drill holes 25-ERRC-38 and 34
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7373/290837_b53d9c3614b469a4_005full.jpg
Discovery of New Gold Zone
Drill hole 25-JMRC-27
intersected a new zone of gold mineralization over significant widths. Results
include
0.44 g/t Au over 24.4m
, with additional gold mineralization intersected by
drill hole 25-JMRC-
28
. This style of gold mineralization has been documented in the footwall where Jesus Maria intersects
the Gully Fault. While not a focus of the program at this time, this new gold zone could present additional
optionality for the Company due to its proximity to the Capitan Hill oxide gold deposit, where the
Company delineated a pit-constrained inferred Mineral Resource of 525,000 ounces of gold at a grade
of 0.4 g/t Au (see Capitan news release dated December 5, 2025).
Change of Analytical Laboratory
The Company also reports that it has engaged SGS Canada to be the primary laboratory for all drill hole
and surface samples going forward. This decision ensures that all sample preparation and analysis
remain in Mexico, within 3 hours of the project site. This shift is expected to help significantly streamline
the analysis sequence, resulting in faster turnaround times as the 2026 drilling program continues to
ramp-up.
Table 1: Drill Results
Hole ID
From
(m)
To (m)
Interval
(m)
Ag Eq Rec
(g/t)
Ag (ppm)
Au
(ppm)
Pb (%)
Zn (%)
25-ERRC-39
Interval
56.4
57.9
1.5
71.9
28.3
0.012
0.201
1.140
Interval
86.9
91.4
4.6
67.4
51.8
0.073
0.113
0.308
including
89.9
91.4
1.5
151.9
125.1
0.019
0.214
0.793
Interval
178.3
179.8
1.5
74.6
30.0
0.197
0.179
0.817
25-ERRC-40
Interval
6.1
9.1
3.0
37.2
32.5
0.067
0.015
0.050
Interval
54.9
56.4
1.5
34.3
29.7
0.055
0.008
0.069
Interval
59.4
61.0
1.5
27.0
18.9
0.008
0.103
0.169
Interval
71.6
73.2
1.5
60.5
50.1
0.044
0.103
0.220
Interval
125.0
128.0
3.0
37.7
28.3
0.081
0.068
0.107
Interval
187.5
189.0
1.5
26.6
9.7
0.125
0.137
0.148
25-ERRC-41
Interval
0
4.6
4.6
26.3
20.6
0.071
0.013
0.048
Interval
13.7
15.2
1.5
52.7
43.4
0.150
0.018
0.032
Interval
19.8
21.3
1.5
28.7
21.8
0.105
0.004
0.027
Interval
59.4
61.0
1.5
57.2
36.5
0.044
0.241
0.386
Interval
70.1
73.2
3.0
41.4
36.0
0.021
0.078
0.116
Interval
96.0
97.5
1.5
32.8
9.8
0.033
0.125
0.525
Interval
147.8
149.4
1.5
131.3
93.0
0.039
0.587
0.726
Interval
158.5
160.0
1.5
66.7
68.4
0.014
0.012
0.031
Interval
211.8
213.4
1.5
26.9
5.6
0.187
0.161
0.124
25-ERRC-44
Interval
65.5
70.1
4.6
181.3
183.0
0.111
0.008
0.041
including
65.5
68.6
3.0
256.3
261.0
0.130
0.012
0.052
Interval
74.7
76.2
1.5
33.7
11.2
0.328
0.001
0.017
Interval
91.4
100.6
9.1
63.5
54.2
0.170
0.006
0.019
including
97.5
99.0
1.5
138.0
128.3
0.234
0.011
0.030
Interval
141.7
146.3
4.6
78.8
67.6
0.183
0.038
0.048
including
143.2
144.8
1.5
117.3
107.7
0.170
0.070
0.070
Interval
214.9
217.9
3.0
79.6
74.1
0.081
0.037
0.099
25-IPRC-01
Interval
88.4
89.9
1.5
50.8
19.7
0.466
0.001
0.005
Interval
146.3
147.8
1.5
72.8
70.7
0.075
0.015
0.024
Interval
271.3
272.8
1.5
54.1
51.1
0.022
0.046
0.096
Interval
278.9
280.4
1.5
59.9
29.4
0.025
0.085
0.829
Interval
300.2
301.8
1.5
44.0
19.1
0.024
0.365
0.416
Interval
307.8
309.4
1.5
35.6
10.7
0.009
0.284
0.499
Interval
315.5
317.0
1.5
25.6
25.1
0.014
0.014
0.020
25-JMRC-27
Interval
21.3
45.7
24.4
38.1
6.4
0.436
0.004
0.059
Interval
50.3
51.8
1.5
26.4
23.0
0.018
0.006
0.098
Interval
106.7
108.2
1.5
32.8
15.8
0.134
0.091
0.180
25-JMRC-28
Interval
0
1.5
1.5
45.5
16.4
0.234
0.150
0.287
Interval
27.4
30.5
3.0
33.5
10.1
0.310
0.013
0.070
Interval
36.6
42.7
6.1
26.8
8.5
0.178
0.024
0.172
Interval
114.3
115.8
1.5
53.2
18.8
0.488
0.030
0.033
25-ERRC-48
Interval
59.4
61.0
1.5
31.9
30.0
0.047
0.005
0.011
Interval
83.8
85.3
1.5
27.4
21.0
0.089
0.004
0.042
Interval
140.2
143.3
3.0
156.8
153.0
0.162
0.018
0.039
including
140.2
141.7
1.5
220.1
228.0
0.052
0.021
0.048
Interval
169.2
184.4
15.2
86.4
60.3
0.105
0.192
0.503
including
176.8
179.8
3.0
175.3
153.0
0.175
0.120
0.472
Interval
196.6
198.1
1.5
147.6
121.0
0.343
0.232
0.112
Interval
228.6
230.1
1.5
31.3
26.0
0.006
0.046
0.151
Interval
245.4
246.9
1.5
46.0
37.0
0.010
0.019
0.294
Interval
254.5
257.6
3.0
50.6
39.5
0.039
0.065
0.264
25-ERRC-51
Interval
13.7
19.8
6.1
45.8
43.8
0.057
0.004
0.018
Interval
41.1
42.7
1.5
43.5
35.0
0.149
0.002
0.009
Interval
62.5
73.2
10.7
84.8
82.9
0.063
0.017
0.062
including
68.6
73.2
4.6
171.8
172.7
0.080
0.034
0.090
Interval
85.3
86.9
1.5
35.3
35.0
0.016
0.006
0.033
Interval
91.4
99.1
7.6
104.3
99.8
0.087
0.042
0.096
including
93.0
96.0
3.0
175.7
170.5
0.143
0.071
0.110
Interval
140.2
143.3
3.0
74.3
75.5
0.022
0.016
0.041
Interval
161.5
163.1
1.5
55.3
54.0
0.023
0.012
0.076
25-ERRC-52
Interval
25.9
27.4
1.5
80.2
28.0
0.777
0.003
0.011
Interval
44.2
45.7
1.5
74.0
70.0
0.105
0.004
0.025
Interval
59.4
62.5
3.0
62.7
59.0
0.082
0.015
0.036
Interval
73.2
74.7
1.5
33.0
22.0
0.177
0.001
0.004
Interval
138.7
179.8
41.1
211.0
192.7
0.163
0.249
0.341
including
149.4
152.4
3.0
574.6
517.0
0.515
0.831
0.878
including
157.0
161.5
4.6
468.3
391.0
0.595
0.805
1.095
including
169.2
172.2
3.0
1,131.5
1,143.0
0.188
0.605
0.801
and including
170.7
172.2
1.5
1,450.5
1,462.0
0.259
0.771
1.080
Interval
225.6
227.1
1.5
31.2
12.0
0.005
0.061
0.524
Metal Recovery: Ag 94%, Au 86%, Pb 93.5%, Zn 92%
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 Drill samples have been analysed by Bureau Veritas using the following codes: MA300, 4-acid digestion, multi-element
analysis (Vancouver Lab). Au is analyzed using Fire Assay (FA430, Hermosillo Lab). Overlimit (>200 ppm Ag) assays utilize method MA370, with
gravimetric utilized for any overlimit thereafter. RC Drill samples have also been sent to SGS labs in Durango for Fire assay and Four-acid Multi-
element analysis using 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 will be performed at ALS laboratories in Zacatecas, Mexico. True widths along the Jesús María Trend are
estimated to be 70-90% of the drilled width. At new drill targets/discoveries, true widths are unknown. Intervals are calculated at a 25 g/t AgEq cut-
off and are cut at a maximum of 3 metres of internal dilution. Some numbers may not sum correctly due to rounding.
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 37% of the Company's share capital.
Capitan Silver is fully funded and actively drilling at its Cruz de Plata silver project.
ON BEHALF OF CAPITAN SILVER CORP.
"Alberto Orozco"
Alberto Orozco, CEO
For Additional Information Contact:
Alberto Orozco, CEO
Capitan Silver Corp.
Greg DiTomaso, Investor Relations
Capitan Silver Corp.
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