Capitan Silver Intersects 2,451 g/t Silver Equivalent over 1.5 Metres, within a Wider Zone of 684 g/t Silver Equivalent over 9.1 Metres at the Cruz De Plata Project
Capitan Silver Intersects 2,451 g/t Silver
Equivalent over 1.5 Metres, within a Wider
Zone of 684 g/t Silver Equivalent over 9.1
Metres at the Cruz De Plata Project
Vancouver, British Columbia--(Newsfile Corp. - February 26, 2026) -
Capitan Silver Corp. (TSXV:
CAPT) ("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 nine (9) drill holes.
Highlights:
Drilling at Cruz de Plata returned one of Capitan's best intercepts to date; the new high-
grade zone that is developing along the Jesus Maria Silver Trend proximal to the Peñoles
Fault continues to grow both down-dip and along section, delivering multiple high-grade
hits
Drill hole 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
Drill hole 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-38
provides increased confidence in continuity of mineralization,
extending mineralization down-dip along section between 35m to 80m from previously
announced drill hole 25-ERRC-34
Previously announced drill hole 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
(see Capitan news
release dated February 2, 2026)
Drill hole 25-ERRC-42
extends the new high-grade silver mineralized zone approximately
10m to 20m to the east of previously announced drill hole 25-ERRC-26
Drill hole 25-ERRC-42
returned multiple high-grade intervals >200 g/t AgEq, including
476.4
g/t AgEq over 1.5m
and
419.8 g/t AgEq over 1.5m,
within a wider zone of 152 g/t
AgEq over 12.2m
Previously announced drill hole 25-ERRC-26 intersected two sizeable zones (see
Capitan news release dated November 11, 2025):
The
Upper Zone
returned
612.9 g/t AgEq over 1.5m, within a broader zone
of 155.9 g/t AgEq over 6.1m
The
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
Silver mineralization extended along the eastern end of the Jesus Maria Silver Trend both
at depth and along strike
Drill hole 25-ERRC-43
intersected multiple broad intervals of silver equivalent mineralization,
including
225.3 g/t AgEq over 1.5m,
within
12.2m of 59.3 g/t AgEq
Drill hole 25-ERRC-43
was collared 50m to the southeast of previously announced high-
grade hits from drill holes 25-ERRC-20 and 25-ERRC-32
Previously announced drill hole 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,
while drill hole 25-ERRC-
32 (down-dip from 25-ERRC-20) intersected
1,254.8 g/t AgEq over 1.5m, within a
wider interval of 157.3 g/t AgEq over 16.8m
(see Capitan news releases dated
October 14, 2025 and February 10, 2026, respectively)
Diamond drilling continues to ramp-up on the property
The first diamond drill rig has arrived on site and is currently focused on extending the new
high-grade silver zone which is developing at the Jesus Maria Trend proximal to the Peñoles
Fault
An additional two (2) diamond drill rigs are expected to arrive at Cruz de Plata in the coming
weeks and will target several priority drill targets in addition to testing deeper mineralization
along the Jesus Maria Silver Trend
Catalysts: Final assays pending for 24 drill holes
Alberto Orozco, CEO of Capitan Silver, commented:
"The drill results from Cruz de Plata continue to impress me. With a modest amount of drilling from
the 2025 program, we have identified two additional high-grade silver zones that are developing along
the Jesus Maria Silver Trend proximal to the Peñoles Fault (on either side of the Fault), which
continue to highlight the richness of the robust silver system at Cruz de Plata.
Today's announcement not only delivered one of the highest-grade drill results on the property, but it
also highlights the continuity of these new high-grade zones, particularly the one that is developing on
the western side of the Peñoles Fault. We have commenced our diamond drill program, with the first
holes targeting this new high-grade zone.
I'm excited to see core from this target and the results as we
start to test at depth."
Figure 1: Drill Plan Map
To view an enhanced version of this graphic, please visit:
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Discussion of Drill Results
Towards the end of 2025, drilling continued to focus on expanding the new high-grade silver mineralized
zone that is developing on the western side of the Peñoles Fault along the Jesus Maria Silver Trend (see
'A' on Figure 1). Early stage drilling focused on evaluating the distribution and continuity of a second new
high-grade silver mineralized zone that is developing on the eastern side of the Peñoles Fault as it
expands eastward towards the San Rafael area (see 'B' on Figure 1).
Drill hole 25-ERRC-38
returned high-grade silver mineralization at depth, expanding the zone between
35 metres to 80 metres along section, where it was targeting the high-grade zone proximal to the
Peñoles Fault (see Figure 2). The hole returned multiple high-grade intervals, including a:
Lower zone: consisting of three separate high-grade intercepts:
2,451.1 g/t AgEq over 1.5m
,
within a wider zone of
683.6 g/t AgEq over 9.1m;
1,187 g/t AgEq over 1.5m
,
within a wider zone of
194.3 g/t AgEq over 16.8m
; and
347.6 g/t AgEq over 1.5m
,
within a wider zone of
107 g/t AgEq over 6.1m
; and an
Upper zone: intersecting
449.3 g/t AgEq over 1.5m, within a wider zone of 251.7 g/t AgEq
over 6.1m
Figure 2: Cross-Section, Drill hole 25-ERRC-38
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Additional drilling along the new high-grade zone on the western side of the Peñoles Fault returned
significant grades.
Drill hole 25-ERRC-47
returned
469.9 g/t AgEq over 1.5m
and extended
mineralization at depth, along section between 30m to 40m.
Drill hole 25-ERRC-42
also returned
multiple high-grade hits, including:
168 g/t AgEq over 1.5m
, as well as
476.4 g/t AgEq over 1.5m
, and
419.8 g/t AgEq over 1.5m,
both of which were
within a wider interval of 152.0 g/t AgEq over 12.2m
.
This hole expanded the high-grade zone towards the east between 10m to 20m. Drilling in this area is
continuing in 2026, with the first diamond core rig targeting the expansion of this new high-grade silver
zone at depth.
Figure 3: Cross-Section, Drill hole 25-ERRC-42
To view an enhanced version of this graphic, please visit:
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At the second new developing high-grade zone on the eastern side of the Peñoles Fault (see 'B' on
Figure 1),
drill hole 25-ERRC-43
was designed to target the high-grade results returned in previously
announced drill holes 25-ERRC-20 and 25-ERRC-32. Drill hole 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,
while drill hole 25-
ERRC-32 (down-dip from 25-ERRC-20) intersected
1,254.8 g/t AgEq over 1.5m, within a wider
interval of 157.3 g/t AgEq over 16.8m
(see Capitan news releases dated October 14, 2025 and
February 10, 2026, respectively). Drill hole 25-ERRC-43 was collared approximately 50m to the
southeast of the projected on-strike and down-dip extension of the high-grade intervals returned in these
holes. Drill hole 25-ERRC-43 was successful in expanding mineralization down-dip and on-strike to the
east, returning multiple, broad silver zones, including
225.3 AgEq over 1.5m,
within a wider zone of
59.3 g/t AgEq over 12.2m
. This new high-grade zone that is developing on the eastern side of the
Peñoles Fault area 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. All
zones remain open down-dip and along strike to the east, with 2026 RC drilling targeting areas
identified thus far, as well as untested areas of historical workings to the north.
Drilling in 2025 along the western defined limits of the Jesus Maria Silver Trend (west of the Gully Fault,
see 'C' on Figure 1), targeted the down-dip expansion of historic, shallow core drilling that returned silver
polymetallic mineralization. Three drill holes targeted the expansion of mineralization at depth, along
section, with all three returning silver mineralization and expanding the zone to depth. The best results
include
drill hole 25-JMRC-31
, which returned
384.9 g/t AgEq over 1.5m
,
within a wider interval of
150 g/t AgEq over 4.6m,
and
drill hole 25-JMRC-32
, which intersected
128.4 g/t AgEq over 3m,
within a wider interval of
71.1 g/t AgEq over 13.7m
. This zone remains open to expansion to the
west, towards the Jesus Maria northwest prospect as well as down-dip.
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-28
Interval
16.8
27.4
10.7
49.5
41.8
0.121
0.007
0.050
including
22.9
24.4
1.5
103.6
99.3
0.125
0.011
0.040
Interval
33.5
35.1
1.5
64.8
63.5
0.064
0.005
0.018
Interval
39.6
41.1
1.5
44.1
43.7
0.037
0.005
0.010
Interval
47.2
51.8
4.6
31.0
29.1
0.043
0.005
0.017
Interval
61.0
62.5
1.5
38.1
27.9
0.162
0.003
0.018
Interval
77.7
79.2
1.5
56.9
51.3
0.116
0.009
0.012
25-ERRC-38
Interval
32.0
33.5
1.5
36.9
28.8
0.135
0.002
0.015
Interval
41.1
51.8
10.7
57.9
48.7
0.170
0.002
0.012
Interval
56.4
57.9
1.5
33.6
27.8
0.099
0.001
0.018
Interval
62.5
65.5
3.0
61.8
55.8
0.125
0.002
0.021
Interval
83.8
89.9
6.1
251.7
257.4
0.089
0.037
0.076
including
83.8
85.3
1.5
449.3
468.0
0.084
0.044
0.070
Interval
94.5
96.0
1.5
83.9
78.4
0.125
0.009
0.041
Interval
141.7
147.8
6.1
107.0
99.0
0.156
0.050
0.055
including
143.3
144.8
1.5
347.6
339.0
0.271
0.161
0.169
Interval
157.0
173.7
16.8
194.3
200.6
0.034
0.051
0.058
including
161.5
163.1
1.5
1,187.0
1,239.0
0.120
0.233
0.222
including
169.2
172.2
3.0
243.3
254
0.012
0.073
0.05
Interval
187.5
196.6
9.1
683.6
694.8
0.053
0.280
0.557
including
187.5
192.0
4.6
1,283.4
1,332.0
0.086
0.307
0.494
and including
189.0
190.5
1.5
1,093.4
1,141.0
0.033
0.223
0.362
and including
190.5
192.0
1.5
2,451.1
2,549.0
0.210
0.492
0.787
25-ERRC-42
Interval
1.5
3.0
1.5
28.2
9.6
0.267
0.003
0.021
Interval
7.6
9.1
1.5
58.3
54.8
0.088
0.004
0.019
Interval
82.3
83.8
1.5
53.4
53.9
0.035
0.002
0.008
Interval
108.2
109.7
1.5
168.0
158.5
0.266
0.006
0.017
Interval
135.6
138.7
3.0
78.8
65.7
0.177
0.019
0.129
including
135.6
137.2
1.5
129.9
119.9
0.133
0.034
0.21
Interval
163.1
175.3
12.2
152.0
147.4
0.162
0.025
0.048
including
164.6
166.1
1.5
476.4
493.0
0.121
0.093
0.060
including
169.2
170.7
1.5
419.8
415.0
0.365
0.041
0.101
Interval
199.6
213.4
13.7
107.9
106.8
0.067
0.037
0.055
including
202.7
205.7
3.0
198.6
193.0
0.19
0.056
0.074
25-ERRC-43
Interval
16.8
29.0
12.2
59.3
60.3
0.022
0.007
0.027
including
18.3
19.8
1.5
225.3
237
0.022
0.023
0.001
Interval
48.8
76.2
27.4
46.5
35.6
0.175
0.007
0.024
25-ERRC-47
Interval
140.2
141.7
1.5
70.6
61.0
0.169
0.006
0.045
Interval
184.4
185.9
1.5
469.9
477.0
0.251
0.044
0.090
Interval
243.8
254.5
10.7
47.9
44.3
0.022
0.060
0.088
Interval
259.1
260.6
1.5
64.6
67.0
0.005
0.015
0.027
Interval
269.7
271.3
1.5
61.8
38.0
0.018
0.068
0.675
25-JMRC-29
Interval
3.0
6.1
3.0
28.8
1.5
0.349
0.047
0.062
Interval
47.2
48.8
1.5
91.1
33.8
0.247
0.581
0.763
25-JMRC-30
Interval
97.5
99.1
1.5
99.3
89.0
0.105
0.099
0.165
25-JMRC-31
Interval
47.2
51.8
4.6
150.0
140.1
0.056
0.222
0.243
including
47.2
48.8
1.5
384.9
365.0
0.095
0.595
0.547
25-JMRC-32
Interval
16.8
18.3
1.5
25.7
4.9
0.299
0.001
0.015
Interval
47.2
61.0
13.7
71.1
35.6
0.189
0.311
0.466
including
48.8
51.8
3.0
128.4
75.6
0.439
0.38
0.48
including
59.4
61
1.5
121.1
26.7
0.288
0.846
1.54
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, Durango 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 are performed at SGS laboratories in Durango, 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
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,
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will
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,
"
would
"
,
"
could
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"
should
"
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"
expect
"
,
"
believe
"
,
"
plan
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"
anticipate
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"
intend
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estimate
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continue
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objective
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potential
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target
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strategy
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project
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forecast
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outlook
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scheduled
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seek
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,
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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
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