Captivision(US:CAPT) TMX Newsfile·2026-01-20 11:00Core Viewpoint - Capitan Silver Corp. has initiated a significant 60,000-metre drilling campaign for 2026 at its Cruz de Plata silver-gold project in Durango, Mexico, which represents a 400% increase in drilling compared to the previous year [1][4]. Exploration Program & Highlights - The 2026 drilling program aims to more than double the total drilling completed at the Cruz de Plata project to date [3]. - The campaign will utilize both Reverse Circulation (RC) and core drilling methods, ramping up from one RC rig to a total of four rigs, including three core rigs [4]. - Key targets for the drilling include expanding advanced silver-mineralized zones along the 3.7-km Jesus Maria Silver Trend and testing new high-grade silver targets at Casco Norte, La Purisima, and Jesus Maria Northwest [4]. - Additional drilling will focus on further defining the Capitan Hill Gold Deposit and exploring new gold opportunities [4]. Financial Position - Capitan Silver is well-funded for 2026, having raised C$29 million from institutional investors in December 2025, which positions the company favorably for its exploration activities [4][20]. - The company successfully completed two financings: a C$23 million bought deal and a C$6 million private placement [9]. Achievements in 2025 - The year 2025 was transformative for Capitan, marked by the resumption of drilling after a halt in 2023 due to high capital costs [8]. - The company consolidated its land package and completed a buyback of the main royalty on its flagship project, enhancing its value proposition [9]. - Significant drilling results from 2025 included high-grade intervals, such as 2,636 g/t Ag over 1.5m in drillhole 25-ERRC-12 [13]. Strategic Developments - Capitan eliminated the main royalty on the Cruz de Plata project by purchasing the Altiplano royalty for US$1 million, maximizing shareholder returns [14]. - The company expanded its land position by 85% through the acquisition of seven mineral concessions adjacent to Cruz de Plata [15]. - A technical report for the Capitan Hill Oxide Gold Deposit was filed, providing a mineral resource estimate in accordance with National Instrument 43-101 [18]. Management and Governance - The management team has been strengthened with key hires to support the company's growth, including experienced professionals in exploration and investor relations [20]. - Capitan Silver maintains a tight share structure, with the top three shareholders owning over 38% of the company's share capital [21].