Aftermath Silver Appoints DRA Global to Lead Berenguela Pre-Feasibility Study
Original announcement by tmx on
- Company
- Aftermath Silver Ltd.
- Ticker
- AAG
- Exchange
- TSX
- Region
- Peru
- Primary commodity
- Silver
- Secondary commodities
- Copper, Manganese, Zinc
- Document categories
- Resource update, Economic study
- Extracted
- 2026-09-19 08:03:17 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Aftermath Silver has appointed DRA Global to lead the Preliminary Feasibility Study (PFS) for its Berenguela silver-copper-manganese project in Peru. The study will be supported by SENET to provide hydrometallurgical expertise. The announcement also restates the project's existing Mineral Resource Estimate.
Reasoning: The announcement of a key engineering partner (DRA Global) to lead a PFS is a positive development for project advancement, though the resource data itself is a restatement of a December 2025 MRE.
Positive factors
- Appointment of DRA Global to lead PFS
- Hydrometallurgical expertise from SENET included
- Existing high-quality MRE provided as baseline
Negative factors
- QP is a non-independent director
Facts used in scoring: 14
Classification and evidence
PFS Completepositive
AACE Class 3 study complete.
Why it applies: The company has appointed DRA Global to lead the Preliminary Feasibility Study.
Evidence · text
“appointed DRA Global Limited ("DRA") to lead the recently announced Preliminary Feasibility Study ("PFS")”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document contains a detailed Mineral Resource Estimate table.
Evidence · text
“Table 1. Berenguela Ag-Cu-Mn deposit MRE.”
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: The QP is identified as a non-independent director, which is disclosed but impacts independence assessment.
Evidence · text
“Michael Parker, a Fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person”
Extracted facts
Stored fact records: 13. Some facts used in scoring do not have a stored record.
Resource Estimates (13)
measuredBerenguela · silverTonnes: 8490000Grade: 101Grade Unit: g/tContained Metal: 27.7Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:83804f126982dbb78fe9
- Deposit or zone
- Berenguela
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 101
- Grade Unit
- g/t
- Contained Metal
- 27.7
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025.
Positive factors
- Strong silver grades in measured category
Evidence · table
“101”
Context: 8.49
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBerenguela · manganeseTonnes: 8490000Grade: 8.97Grade Unit: %Contained Metal: 0.76Contained Unit: mtHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- manganese
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:83804f126982dbb78fe9
- Deposit or zone
- Berenguela
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 8.97
- Grade Unit
- %
- Contained Metal
- 0.76
- Contained Unit
- mt
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: Restatement of Dec 2025 MRE.
Evidence · table
“8.97”
Context: 8.49
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBerenguela · copperTonnes: 8490000Grade: 0.89Grade Unit: %Contained Metal: 166.9Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- copper
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:83804f126982dbb78fe9
- Deposit or zone
- Berenguela
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 0.89
- Grade Unit
- %
- Contained Metal
- 166.9
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: Restatement of Dec 2025 MRE.
Evidence · table
“0.89”
Context: 8.49
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
measuredBerenguela · zincTonnes: 8490000Grade: 0.32Grade Unit: %Contained Metal: 60Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- zinc
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:83804f126982dbb78fe9
- Deposit or zone
- Berenguela
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 0.32
- Grade Unit
- %
- Contained Metal
- 60
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: Restatement of Dec 2025 MRE.
Evidence · table
“0.32”
Context: 8.49
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was 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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBerenguela · silverTonnes: 43060000Grade: 68.5Grade Unit: g/tContained Metal: 94.9Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e7c38808cc1e714f1e9d
- Deposit or zone
- Berenguela
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 68.5
- Grade Unit
- g/t
- Contained Metal
- 94.9
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“68.5”
Context: 43.06
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBerenguela · copperTonnes: 43060000Grade: 0.58Grade Unit: %Contained Metal: 550.2Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- copper
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e7c38808cc1e714f1e9d
- Deposit or zone
- Berenguela
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 0.58
- Grade Unit
- %
- Contained Metal
- 550.2
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“0.58”
Context: 43.06
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBerenguela · zincTonnes: 43060000Grade: 0.33Grade Unit: %Contained Metal: 312.5Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- zinc
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e7c38808cc1e714f1e9d
- Deposit or zone
- Berenguela
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 0.33
- Grade Unit
- %
- Contained Metal
- 312.5
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“0.33”
Context: 43.06
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBerenguela · silverTonnes: 51550000Grade: 73.9Grade Unit: g/tContained Metal: 122.5Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:26d0436104ae5a6a428f
- Deposit or zone
- Berenguela
Resource Data
- Category
- indicated
- Tonnes
- 51550000
- Grade
- 73.9
- Grade Unit
- g/t
- Contained Metal
- 122.5
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“73.9”
Context: 51.55
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBerenguela · copperTonnes: 51550000Grade: 0.63Grade Unit: %Contained Metal: 717.1Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- copper
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:26d0436104ae5a6a428f
- Deposit or zone
- Berenguela
Resource Data
- Category
- indicated
- Tonnes
- 51550000
- Grade
- 0.63
- Grade Unit
- %
- Contained Metal
- 717.1
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“0.63”
Context: 51.55
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBerenguela · zincTonnes: 51550000Grade: 0.33Grade Unit: %Contained Metal: 372.4Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- zinc
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:26d0436104ae5a6a428f
- Deposit or zone
- Berenguela
Resource Data
- Category
- indicated
- Tonnes
- 51550000
- Grade
- 0.33
- Grade Unit
- %
- Contained Metal
- 372.4
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“0.33”
Context: 51.55
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBerenguela · silverTonnes: 14330000Grade: 47.6Grade Unit: g/tContained Metal: 22Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:261d8acea88b89096a26
- Deposit or zone
- Berenguela
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 47.6
- Grade Unit
- g/t
- Contained Metal
- 22
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“47.6”
Context: 14.33
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBerenguela · copperTonnes: 14330000Grade: 0.37Grade Unit: %Contained Metal: 118.4Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- copper
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:261d8acea88b89096a26
- Deposit or zone
- Berenguela
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 0.37
- Grade Unit
- %
- Contained Metal
- 118.4
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“0.37”
Context: 14.33
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBerenguela · zincTonnes: 14330000Grade: 0.25Grade Unit: %Contained Metal: 80Contained Unit: mlbHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Berenguela
- Commodity
- zinc
- Region
- peru
- Reported Region
- Peru
- Ticker
- AAG
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-04T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:261d8acea88b89096a26
- Deposit or zone
- Berenguela
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 0.25
- Grade Unit
- %
- Contained Metal
- 80
- Contained Unit
- mlb
Prior Estimate
- Resource Date
- 2025-12-04
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a restatement of the MRE published on December 4, 2025. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Strong silver grades in measured category
Evidence · table
“0.25”
Context: 14.33
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
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
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
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.