# Aftermath Silver: Drilling Continues at Berenguela and Drilling Commences at Challacollo Silver Project

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0

Original source: https://money.tmx.com/en/quote/AAG/news/5995117155735868/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal

Publisher: tmx

Original announcement: 2025-12-10T13:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Aftermath Silver Ltd.

- Ticker: AAG

- Exchange: TSX

- Region: Peru

- Primary commodity: Silver

- Secondary commodities: Copper, Manganese, Zinc, Gold

- Document categories: Resource update, Drill results

- Extracted: 2026-09-19 08:38:46 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Aftermath Silver has commenced a 6,000m drilling campaign at its Berenguela silver-copper-manganese project in Peru and is starting a new drilling program at the Challacollo silver-gold project in Chile. The company is focusing on resource expansion and upgrading resource confidence through infill and step-out drilling.

Reasoning: The announcement details active drilling at Berenguela and the commencement of drilling at Challacollo, supported by recent resource updates at both projects.

- Positive factor: Ongoing drilling programs at two distinct projects

- Positive factor: Recent significant resource update at Berenguela

- Positive factor: High-grade historical intercepts mentioned as targets

Facts used in scoring: 22

## Classification and evidence

**Infill Drilling**

Polarity: neutral

Definition: Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The Berenguela program aims to infill drill to convert inferred resources to measured and indicated.

Evidence · text

> To upgrade part of the indicated resources to measured resources primarily in the western and central domains

**Step-Out Extension**

Polarity: positive

Definition: Mineralization extended beyond the previously known limit.

Why it applies: Drilling at Challacollo aims to extend known veins down dip and along strike.

Evidence · text

> Investigate potential to expand the existing resource at Challacollo by extending some of known veins down dip and along strike

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: The Berenguela resource is described as a NI 43-101 mineral resource estimate.

Evidence · text

> A current NI 43-101 mineral resource estimate was published on December 4, 2025.

## Extracted facts

Stored fact records: 22. Some facts used in scoring do not have a stored record.

## Drill Results (4)

### Fact 1

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-drill-facts-0)

Berenguela · copper

Historical result

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Berenguela
- Commodity: copper
- Region: peru
- Reported Region: peru
- Ticker: AAG

#### Geometry

- Grade: 1.12
- Grade Unit: %
- Intercept: 156 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: High-grade copper intercept cited as a target.

- Positive factor: Significant width and grade

Evidence · text

> returned longest copper intercept drilled to date at 156m grading 1.12% Cu

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### Fact 2

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-drill-facts-1)

Berenguela · silver

Historical result

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Berenguela
- Commodity: silver
- Region: peru
- Reported Region: peru
- Ticker: AAG

#### Geometry

- Grade: 290
- Grade Unit: g/t
- Intercept: 156 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: High-grade silver intercept cited as a target.

- Positive factor: High grade

Evidence · text

> 156m grading 1.12% Cu, 290 g/t Ag

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### Fact 3

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-drill-facts-2)

Berenguela · manganese

Historical result

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Berenguela
- Commodity: manganese
- Region: peru
- Reported Region: peru
- Ticker: AAG

#### Geometry

- Grade: 7.3
- Grade Unit: %
- Intercept: 156 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: Yes

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: High manganese intercept cited as a target.

- Positive factor: Significant manganese grade

Evidence · text

> 156m grading 1.12% Cu, 290 g/t Ag and 7.3% Mn

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### Fact 4

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-drill-facts-3)

Berenguela · silver

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Berenguela
- Commodity: silver
- Region: peru
- Reported Region: peru
- Ticker: AAG

#### Geometry

- Grade: 14252
- Grade Unit: g/t
- Intercept: 1.95 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes
- QA/QC Methods: standards

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Extremely high silver grade intercept.

- Positive factor: Bonanza grade

Evidence · text

> highest silver intercept to date at 1.95m @ 14,252 g/t Ag

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

## Resource Estimates (18)

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-4)

Berenguela · silver

#### 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
- Resource group id: resource:c976501a877cf61855b7

#### 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: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Measured resource component of the Berenguela MRE.

Evidence · table

> 101

Context: 8.49

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-5)

Berenguela · manganese

#### 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
- Resource group id: resource:c976501a877cf61855b7

#### Resource Data

- Category: measured
- Tonnes: 8490000
- Grade: 8.97
- Grade Unit: %

#### Prior Estimate

- Resource Date: 2025-12-04

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Measured resource component of the Berenguela MRE.

Evidence · table

> 8.97

Context: 8.49

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-6)

Berenguela · copper

#### 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
- Resource group id: resource:c976501a877cf61855b7

#### 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: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Measured resource component of the Berenguela MRE.

Evidence · table

> 0.89

Context: 8.49

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-7)

Berenguela · zinc

#### 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
- Resource group id: resource:c976501a877cf61855b7

#### 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: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Measured resource component of the Berenguela MRE.

Evidence · table

> 0.32

Context: 8.49

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-8)

Challacollo · silver

#### Identity

- Project: Challacollo
- Commodity: silver
- Region: chile
- Reported Region: Chile
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Effective date: 2020-12-15T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:0f85b3dd3df9019f223a

#### Resource Data

- Category: indicated
- Tonnes: 6640000
- Grade: 165
- Grade Unit: g/t
- Contained Metal: 35150
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2020-12-15

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Indicated resource component of the Challacollo MRE.

Evidence · table

> 165

Context: 6,640

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

**Stale Estimate**

Polarity: negative

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

Why it applies: effective date is 5.0 years before this release

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-9)

Challacollo · gold

#### Identity

- Project: Challacollo
- Commodity: gold
- Region: chile
- Reported Region: Chile
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Effective date: 2020-12-15T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:0f85b3dd3df9019f223a

#### Resource Data

- Category: indicated
- Tonnes: 6640000
- Grade: 0.27
- Grade Unit: g/t
- Contained Metal: 58
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2020-12-15

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

Reasoning: Indicated resource component of the Challacollo MRE.

Evidence · table

> 0.27

Context: 6,640

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

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

Why it applies: reporting\_standards includes ni\_43\_101

**Stale Estimate**

Polarity: negative

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

Why it applies: effective date is 5.0 years before this release

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-10)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · silver

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: silver
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:83d91d69cadcc821343d
- Material type: Open Pit

#### Resource Data

- Category: indicated
- Tonnes: 5597000
- Grade: 170
- Grade Unit: g/t
- Contained Metal: 30639
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 170

Context: 5,597

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-11)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · gold

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: gold
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:83d91d69cadcc821343d
- Material type: Open Pit

#### Resource Data

- Category: indicated
- Tonnes: 5597000
- Grade: 0.27
- Grade Unit: g/t
- Contained Metal: 49
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.27

Context: 5,597

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-12)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · silver

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: silver
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:ec452ecb4f866d87935a
- Material type: Underground

#### Resource Data

- Category: indicated
- Tonnes: 1043000
- Grade: 134
- Grade Unit: g/t
- Contained Metal: 4510
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 134

Context: 1,043

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-13)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · gold

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: gold
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:ec452ecb4f866d87935a
- Material type: Underground

#### Resource Data

- Category: indicated
- Tonnes: 1043000
- Grade: 0.29
- Grade Unit: g/t
- Contained Metal: 10
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.29

Context: 1,043

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-14)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · silver

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: silver
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:fdced93912f963691b56

#### Resource Data

- Category: indicated
- Tonnes: 6640000
- Grade: 165
- Grade Unit: g/t
- Contained Metal: 35150
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 165

Context: 6,640

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-15)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · gold

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: gold
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:fdced93912f963691b56

#### Resource Data

- Category: indicated
- Tonnes: 6640000
- Grade: 0.27
- Grade Unit: g/t
- Contained Metal: 58
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.27

Context: 6,640

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

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

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-16)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · silver

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: silver
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:b641c8ef001b9f03095a
- Material type: Open Pit

#### Resource Data

- Category: inferred
- Tonnes: 2360000
- Grade: 117
- Grade Unit: g/t
- Contained Metal: 8912
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 117

Context: 2,360

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-17)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · gold

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: gold
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:b641c8ef001b9f03095a
- Material type: Open Pit

#### Resource Data

- Category: inferred
- Tonnes: 2360000
- Grade: 0.15
- Grade Unit: g/t
- Contained Metal: 11
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.15

Context: 2,360

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-18)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · silver

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: silver
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:9c5002a894898177e95b
- Material type: Underground

#### Resource Data

- Category: inferred
- Tonnes: 443000
- Grade: 157
- Grade Unit: g/t
- Contained Metal: 2232
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 157

Context: 443

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-19)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · gold

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: gold
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:9c5002a894898177e95b
- Material type: Underground

#### Resource Data

- Category: inferred
- Tonnes: 443000
- Grade: 0.26
- Grade Unit: g/t
- Contained Metal: 4
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.26

Context: 443

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-20)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · silver

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: silver
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:3637ee73ef14cd19f22e

#### Resource Data

- Category: inferred
- Tonnes: 2803000
- Grade: 124
- Grade Unit: g/t
- Contained Metal: 11144
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 124

Context: 2,803

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/aftermath-silver-drilling-continues-at-berenguela-and-drilling-commences-at-chal--14b2fbed-b93a-4b0b-ab6e-10bf355b8bc0#fact-resource-facts-21)

Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold · gold

#### Identity

- Project: Summary of the Mineral Resource Estimate for the Challacollo Silver-Gold
- Commodity: gold
- Ticker: AAG

#### Resource scope

- Estimate type: resource
- Resource group id: resource:3637ee73ef14cd19f22e

#### Resource Data

- Category: inferred
- Tonnes: 2803000
- Grade: 0.17
- Grade Unit: g/t
- Contained Metal: 15
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-12-10T00:00:00.000Z

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

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 0.17

Context: 2,803

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

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

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

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

Why it applies: no cutoff\_grade was stated

## 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.