Capitan Silver Ramps Up Largest Drill Program Yet at Cruz de Plata

The latest announcement is out from Capitan Silver ( (TSE:CAPT) ).

Capitan Silver Corp. has mobilized a second drill rig to its Cruz de Plata silver-gold project in Durango, Mexico, marking the start of an expanded 60,000-metre drilling campaign for 2026, the largest in the company’s history and four times the size of its 2025 program. The newly arrived core rig, one of three planned, will work alongside an existing reverse circulation rig to test high-priority targets along the Jesús María Silver Trend, including the Gully Fault and Peñoles Fault, with a focus on extending advanced high-grade mineralized zones.

The initial focus of the core rig is on expanding a newly defined high-grade silver zone near the Peñoles fault, where previous holes returned exceptionally high silver and silver-equivalent grades over significant widths, suggesting strong potential for resource growth at depth and down plunge. These results, combined with the aggressive drill program and robust metallurgical recoveries for silver, gold, lead and zinc, underscore Capitan Silver’s strategy to rapidly advance Cruz de Plata as a significant high-grade silver system, potentially enhancing its standing among Mexican silver explorers and offering increased leverage for existing shareholders.

The most recent analyst rating on (TSE:CAPT) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.

Spark’s Take on TSE:CAPT Stock

According to Spark, TipRanks’ AI Analyst, TSE:CAPT is a Neutral.

The score is primarily weighed down by weak financial performance—no revenue, widening losses, and sharply higher cash burn that increases future funding/dilution risk—partly offset by a debt-free balance sheet and higher equity. Technical indicators are broadly neutral with limited momentum, and valuation is difficult to support given negative earnings and no dividend.

To see Spark’s full report on TSE:CAPT stock, click here.

More about Capitan Silver

Capitan Silver Corp. is a precious metals exploration company focused on defining a new high-grade silver system at its Cruz de Plata silver-gold project in Durango, Mexico, located in the heart of the country’s primary silver belt. The company is led by a management team that has previously advanced three mining projects into production and maintains a tight share structure, with its top three shareholders holding about 37% of its share capital, and it is fully funded and actively drilling at Cruz de Plata.

YTD Price Performance: -2.73%

Average Trading Volume: 178,708

Technical Sentiment Signal: Buy

Current Market Cap: C$275M

For a thorough assessment of CAPT stock, go to TipRanks’ Stock Analysis page.