Aftermath Silver Announces Resource Estimate for Cachinal Silver-Gold Project and Filing of Amended and Restated NI 43-101 Technical Report

Original announcement by research on

Company
Aftermath Silver
Ticker
AAG
Exchange
TSXV
Region
Antofagasta Region (Region II), Chile
Primary commodity
Silver
Secondary commodities
Gold
Document categories
Resource update, Agreement transaction
Extracted
2026-10-16 16:54:27 UTC

Analysis by Minestarters Atlas

Atlas analysis published:

Minestarters Atlas analysis

Summary

Aftermath Silver announced a CIM-compliant mineral resource estimate for the Cachinal silver-gold project in Chile and filed an amended NI 43-101 technical report. The estimate totals 5.05 Mt indicated and 0.53 Mt inferred, with silver as the main metal and gold as a secondary metal. The report also states metal price and recovery assumptions used to set cut-off grades.

Reasoning: This is a new resource estimate announcement, not drilling or metallurgy. The estimate is meaningful because it defines a silver-gold resource and is backed by a filed NI 43-101 report, but the large Inferred component limits confidence.

Positive factors

  • CIM compliant mineral resource estimate reported for Cachinal
  • NI 43-101 technical report filed with an effective date stated
  • Qualified Persons named and technical report prepared under NI 43-101

Negative factors

  • Resource is predominantly Inferred by tonnes and metal content
  • Cut-off grades are disclosed but resource is already historical relative to announcement date

Facts used in scoring: 24

Classification and evidence

JORC Compliantpositive

Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.

Why it applies: The release states the estimate was classified according to the CIM Definition Standards and the report was prepared under NI 43-101, not JORC; therefore no JORC tag is applied.

Evidence · text

“prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101”

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: The amended and restated technical report was prepared in accordance with NI 43-101.

Evidence · text

“prepared in accordance with the Canadian Securities Administrators' National Instrument 43-101”

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: Two qualified persons are named and the technical report is signed off by them.

Evidence · text

“The Mineral Resource estimate was performed by independent qualified persons Glen Cole P.Geo”

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The release states different cut-off grades for open pit and underground resources.

Evidence · text

“Open Pit methods uses a cut-off's of 30 g/t Silver equivalent”

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: The table includes indicated rows totaling 5.05 Mt at 101 g/t silver and 0.13 g/t gold.

Evidence · table

“101”

Context: 5.05

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The table includes inferred rows totaling 0.53 Mt at 145 g/t silver and 0.15 g/t gold.

Evidence · table

“145”

Context: 0.53

Maiden Resourceneutral

First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.

Why it applies: This is the first resource estimate announced for the Cachinal project in the document.

Evidence · text

“Announces Resource Estimate for Cachinal Silver-Gold Project”

Extracted facts

Stored fact records: 24. Some facts used in scoring do not have a stored record.

Resource Estimates (24)

indicatedCachinal Silver-Gold Project · silverTonnes: 4830000Grade: 97Grade Unit: g/tContained Metal: 15.03Contained Unit: mozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
silver
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:13cbd76e741dd183e853
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
indicated
Tonnes
4830000
Grade
97
Grade Unit
g/t
Contained Metal
15.03
Contained Unit
moz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: This is the main indicated open-pit silver resource row and it contributes the bulk of the project's stated indicated tonnes and silver ounces.

Positive factors

  • Indicated resource category has reasonable geological confidence
  • Open-pit amenable material is disclosed
  • Contained silver is explicitly stated

Negative factors

  • Large part of the broader resource remains Inferred
  • Cut-off is expressed in silver equivalent rather than a direct silver cut-off

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

indicatedCachinal Silver-Gold Project · goldTonnes: 4830000Grade: 0.13Grade Unit: g/tContained Metal: 20.05Contained Unit: kozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
gold
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:13cbd76e741dd183e853
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
indicated
Tonnes
4830000
Grade
0.13
Grade Unit
g/t
Contained Metal
20.05
Contained Unit
koz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: Gold is a secondary commodity in the same indicated open-pit row, and the resource reports both grade and contained gold.

Positive factors

  • Gold credit is explicitly reported alongside silver
  • Indicated category supports geological confidence

Negative factors

  • Gold grade is low relative to the silver focus
  • Cut-off is based on silver equivalent

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

indicatedCachinal Silver-Gold Project · silverTonnes: 220000Grade: 182Grade Unit: g/tContained Metal: 1.29Contained Unit: mozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
silver
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:7f40c4e19b789e92a99a
Deposit or zone
Cachinal
Mining method
combined
Material type
underground

Resource Data

Category
indicated
Tonnes
220000
Grade
182
Grade Unit
g/t
Contained Metal
1.29
Contained Unit
moz
Cutoff Grade
150
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: This is the indicated underground silver resource, showing a higher grade but much smaller tonnage than the open-pit portion.

Positive factors

  • Underground material is explicitly separated from open-pit material
  • Higher grade than the open-pit portion
  • Contained silver is stated

Negative factors

  • Underground tonneage is small relative to the broader resource
  • Cut-off is in silver equivalent

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

indicatedCachinal Silver-Gold Project · goldTonnes: 220000Grade: 0.22Grade Unit: g/tContained Metal: 1.65Contained Unit: kozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
gold
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:7f40c4e19b789e92a99a
Deposit or zone
Cachinal
Mining method
combined
Material type
underground

Resource Data

Category
indicated
Tonnes
220000
Grade
0.22
Grade Unit
g/t
Contained Metal
1.65
Contained Unit
koz
Cutoff Grade
150
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: Gold is a byproduct credit within the indicated underground resource row.

Positive factors

  • Gold is reported for the underground indicated material
  • Contained gold is explicitly stated

Negative factors

  • Gold is secondary to the silver resource
  • Small tonnage

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

inferredCachinal Silver-Gold Project · silverTonnes: 170000Grade: 73Grade Unit: g/tContained Metal: 0.41Contained Unit: mozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
silver
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:6fa0cd3088c6d1f051c5
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
inferred
Tonnes
170000
Grade
73
Grade Unit
g/t
Contained Metal
0.41
Contained Unit
moz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: This is the inferred open-pit silver component of the resource.

Positive factors

  • Inferred open-pit silver mineralization is explicitly reported
  • Contained silver is stated

Negative factors

  • Lower confidence category
  • Lower grade than the indicated open-pit row

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

inferredCachinal Silver-Gold Project · goldTonnes: 170000Grade: 0.07Grade Unit: g/tContained Metal: 0.43Contained Unit: kozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
gold
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:6fa0cd3088c6d1f051c5
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
inferred
Tonnes
170000
Grade
0.07
Grade Unit
g/t
Contained Metal
0.43
Contained Unit
koz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: Gold is a minor component of the inferred open-pit row.

Positive factors

  • Gold is explicitly reported for the inferred open-pit material

Negative factors

  • Very low grade and small contained gold
  • Inferred category

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

inferredCachinal Silver-Gold Project · silverTonnes: 360000Grade: 180Grade Unit: g/tContained Metal: 2.07Contained Unit: mozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
silver
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:0b93f210dab9a010c870
Deposit or zone
Cachinal
Mining method
combined
Material type
underground

Resource Data

Category
inferred
Tonnes
360000
Grade
180
Grade Unit
g/t
Contained Metal
2.07
Contained Unit
moz
Cutoff Grade
150
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: This is the inferred underground silver component, with a higher grade than the inferred open-pit material.

Positive factors

  • High-grade inferred underground silver is explicitly reported
  • Contained silver is stated

Negative factors

  • Inferred category limits confidence
  • Small tonnage

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

inferredCachinal Silver-Gold Project · goldTonnes: 360000Grade: 0.19Grade Unit: g/tContained Metal: 2.18Contained Unit: kozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
gold
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:0b93f210dab9a010c870
Deposit or zone
Cachinal
Mining method
combined
Material type
underground

Resource Data

Category
inferred
Tonnes
360000
Grade
0.19
Grade Unit
g/t
Contained Metal
2.18
Contained Unit
koz
Cutoff Grade
150
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: Gold is the byproduct credit in the inferred underground resource row.

Positive factors

  • Gold is explicitly reported for the inferred underground material

Negative factors

  • Inferred category
  • Gold remains secondary to silver

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

indicatedCachinal Silver-Gold Project · silverTonnes: 5050000Grade: 101Grade Unit: g/tContained Metal: 16.32Contained Unit: mozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
silver
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:b35d9bcef722c88bb3df
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
indicated
Tonnes
5050000
Grade
101
Grade Unit
g/t
Contained Metal
16.32
Contained Unit
moz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: This is the total indicated resource row for the project and provides the headline indicated tonnage and silver ounces.

Positive factors

  • Total indicated resource is explicitly disclosed
  • Contained silver is explicitly stated

Negative factors

  • Aggregated total includes open-pit and underground material
  • Cut-off basis is silver equivalent

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

indicatedCachinal Silver-Gold Project · goldTonnes: 5050000Grade: 0.13Grade Unit: g/tContained Metal: 21.7Contained Unit: kozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
gold
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:b35d9bcef722c88bb3df
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
indicated
Tonnes
5050000
Grade
0.13
Grade Unit
g/t
Contained Metal
21.7
Contained Unit
koz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: Gold is the byproduct credit in the total indicated resource row.

Positive factors

  • Gold is explicitly reported in the total indicated row

Negative factors

  • Gold is secondary to silver
  • Aggregated total row

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

inferredCachinal Silver-Gold Project · silverTonnes: 530000Grade: 145Grade Unit: g/tContained Metal: 2.48Contained Unit: mozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
silver
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:601c8a04ffc5ca781801
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
inferred
Tonnes
530000
Grade
145
Grade Unit
g/t
Contained Metal
2.48
Contained Unit
moz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: This is the total inferred silver resource for the project.

Positive factors

  • Total inferred resource is explicitly disclosed

Negative factors

  • All tonnes are Inferred in this subtotal
  • Lower confidence category

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

inferredCachinal Silver-Gold Project · goldTonnes: 530000Grade: 0.15Grade Unit: g/tContained Metal: 2.61Contained Unit: kozView all details
Link to this fact

Identity

Project
Cachinal Silver-Gold Project
Commodity
gold
Region
chile
Reported Region
Antofagasta Region (Region II), Chile
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101, other
QP Signed
Yes
Qualified person names
Glen Cole, Sergio Alvarado Casas
Resource group id
resource:601c8a04ffc5ca781801
Deposit or zone
Cachinal
Mining method
combined
Material type
open pit

Resource Data

Category
inferred
Tonnes
530000
Grade
0.15
Grade Unit
g/t
Contained Metal
2.61
Contained Unit
koz
Cutoff Grade
30
Cutoff Unit
g/t AgEq

Prior Estimate

Resource Date
2020-08-10

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
SRK Consulting (Canada) Inc. and Geoinvest SAC E.I.R.L.

Location

Loc. Confidence
inferred

Review

Needs Review
No
Historical
No

Reasoning: Gold is the byproduct credit in the total inferred resource row.

Positive factors

  • Gold is explicitly reported in the total inferred row

Negative factors

  • Inferred category
  • Gold is secondary to silver

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

Stale Estimatenegative

Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 6.2 years before this release

indicatedSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · silverTonnes: 4830000Grade: 97Grade Unit: g/tContained Metal: 15.03Contained Unit: mozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
silver
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:360334c6e5e51b4e76b0
Mining method
combined
Material type
Open Pit

Resource Data

Category
indicated
Tonnes
4830000
Grade
97
Grade Unit
g/t
Contained Metal
15.03
Contained Unit
moz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“97”

Context: 4.83

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · goldTonnes: 4830000Grade: 0.13Grade Unit: g/tContained Metal: 20.05Contained Unit: kozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
gold
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:360334c6e5e51b4e76b0
Mining method
combined
Material type
Open Pit

Resource Data

Category
indicated
Tonnes
4830000
Grade
0.13
Grade Unit
g/t
Contained Metal
20.05
Contained Unit
koz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.13”

Context: 4.83

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · silverTonnes: 220000Grade: 182Grade Unit: g/tContained Metal: 1.29Contained Unit: mozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
silver
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:24ac0cea7a98a9755db4
Mining method
combined
Material type
Underground

Resource Data

Category
indicated
Tonnes
220000
Grade
182
Grade Unit
g/t
Contained Metal
1.29
Contained Unit
moz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“182”

Context: 0.22

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · goldTonnes: 220000Grade: 0.22Grade Unit: g/tContained Metal: 1.65Contained Unit: kozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
gold
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:24ac0cea7a98a9755db4
Mining method
combined
Material type
Underground

Resource Data

Category
indicated
Tonnes
220000
Grade
0.22
Grade Unit
g/t
Contained Metal
1.65
Contained Unit
koz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.22”

Context: 0.22

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · silverTonnes: 5050000Grade: 101Grade Unit: g/tContained Metal: 16.32Contained Unit: mozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
silver
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:be1054432ecd9a3b4f1b
Mining method
combined

Resource Data

Category
indicated
Tonnes
5050000
Grade
101
Grade Unit
g/t
Contained Metal
16.32
Contained Unit
moz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“101”

Context: 5.05

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · goldTonnes: 5050000Grade: 0.13Grade Unit: g/tContained Metal: 21.7Contained Unit: kozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
gold
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:be1054432ecd9a3b4f1b
Mining method
combined

Resource Data

Category
indicated
Tonnes
5050000
Grade
0.13
Grade Unit
g/t
Contained Metal
21.7
Contained Unit
koz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.13”

Context: 5.05

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · silverTonnes: 170000Grade: 73Grade Unit: g/tContained Metal: 0.41Contained Unit: mozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
silver
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:f733fd72866e727c81fa
Mining method
combined
Material type
Open Pit

Resource Data

Category
inferred
Tonnes
170000
Grade
73
Grade Unit
g/t
Contained Metal
0.41
Contained Unit
moz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“73”

Context: 0.17

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · goldTonnes: 170000Grade: 0.07Grade Unit: g/tContained Metal: 0.43Contained Unit: kozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
gold
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:f733fd72866e727c81fa
Mining method
combined
Material type
Open Pit

Resource Data

Category
inferred
Tonnes
170000
Grade
0.07
Grade Unit
g/t
Contained Metal
0.43
Contained Unit
koz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.07”

Context: 0.17

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · silverTonnes: 360000Grade: 180Grade Unit: g/tContained Metal: 2.07Contained Unit: mozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
silver
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:43187578e737f0960a06
Mining method
combined
Material type
Underground

Resource Data

Category
inferred
Tonnes
360000
Grade
180
Grade Unit
g/t
Contained Metal
2.07
Contained Unit
moz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“180”

Context: 0.36

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · goldTonnes: 360000Grade: 0.19Grade Unit: g/tContained Metal: 2.18Contained Unit: kozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
gold
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:43187578e737f0960a06
Mining method
combined
Material type
Underground

Resource Data

Category
inferred
Tonnes
360000
Grade
0.19
Grade Unit
g/t
Contained Metal
2.18
Contained Unit
koz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.19”

Context: 0.36

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · silverTonnes: 530000Grade: 145Grade Unit: g/tContained Metal: 2.48Contained Unit: mozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
silver
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:9135641e68cfce502cca
Mining method
combined

Resource Data

Category
inferred
Tonnes
530000
Grade
145
Grade Unit
g/t
Contained Metal
2.48
Contained Unit
moz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“145”

Context: 0.53

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredSummary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold · goldTonnes: 530000Grade: 0.15Grade Unit: g/tContained Metal: 2.61Contained Unit: kozView all details
Link to this fact

Identity

Project
Summary of the CIM Compliant Mineral Resource Estimate for the Cachinal Silver-Gold
Commodity
gold
Ticker
AAG

Resource scope

Estimate type
resource
Reporting standards
ni_43_101
Resource group id
resource:9135641e68cfce502cca
Mining method
combined

Resource Data

Category
inferred
Tonnes
530000
Grade
0.15
Grade Unit
g/t
Contained Metal
2.61
Contained Unit
koz

Metal Equivalent

Assumptions Disclosed
Yes

Review

Needs Review
No
Historical
No

Reasoning: Expanded from multi-commodity resource table for completeness.

Negative factors

  • Fact expanded from resource table columns (model omitted this commodity).

Evidence · table

“0.15”

Context: 0.53

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.