Aftermath Silver Launches 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 08:16:43 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Aftermath Silver has announced the commencement of a Pre-Feasibility Study (PFS) for its Berenguela silver-copper-manganese project in Peru. The decision follows a successful infill drilling program and an updated Mineral Resource Estimate that confirms robust mineralization.
Reasoning: The announcement marks a significant project advancement from resource definition to economic study (PFS) for the Berenguela project, supported by a high-confidence M&I resource.
Positive factors
- Commencement of Pre-Feasibility Study (PFS)
- Robust silver and copper mineralization confirmed
- High-confidence resource base (M&I)
- Successful infill drilling program
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 announced the commencement of a Pre-Feasibility Study (PFS) for the Berenguela project.
Evidence · text
“announcement the commencement of a Pre-Feasibility Study ("PFS") for its Berenguela silver-copper-manganese project”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The document references a NI 43-101 Technical Report filed on January 16, 2026.
Evidence · text
“A NI43-101 Technical Report on the property was filed January 16, 2026”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The release discusses an updated Mineral Resource Estimate that builds on previous results.
Evidence · text
“The updated Mineral Resource Estimate (See Aftermath news release dated December 4, 2025) materially improved confidence”
Extracted facts
Stored fact records: 13. Some facts used in scoring do not have a stored record.
Resource Estimates (13)
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e006e1cdbc61853a0f59
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 68.5
- Grade Unit
- g/t
- Contained Metal
- 94.9
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release.
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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 · manganeseTonnes: 43060000Grade: 5.04Grade Unit: %Contained Metal: 2.17Contained 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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e006e1cdbc61853a0f59
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 5.04
- Grade Unit
- %
- Contained Metal
- 2.17
- Contained Unit
- mt
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: Secondary commodity in the indicated resource category.
Evidence · table
“5.04”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e006e1cdbc61853a0f59
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 0.58
- Grade Unit
- %
- Contained Metal
- 550.2
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: Secondary commodity in the indicated resource 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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:e006e1cdbc61853a0f59
Resource Data
- Category
- indicated
- Tonnes
- 43060000
- Grade
- 0.33
- Grade Unit
- %
- Contained Metal
- 312.5
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: Secondary commodity in the indicated resource 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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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 · 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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:bf7d714ca204339f1255
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 101
- Grade Unit
- g/t
- Contained Metal
- 27.7
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:bf7d714ca204339f1255
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 0.89
- Grade Unit
- %
- Contained Metal
- 166.9
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:bf7d714ca204339f1255
Resource Data
- Category
- measured
- Tonnes
- 8490000
- Grade
- 0.32
- Grade Unit
- %
- Contained Metal
- 60
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:59f915872282c06cc948
Resource Data
- Category
- indicated
- Tonnes
- 51550000
- Grade
- 73.9
- Grade Unit
- g/t
- Contained Metal
- 122.5
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:59f915872282c06cc948
Resource Data
- Category
- indicated
- Tonnes
- 51550000
- Grade
- 0.63
- Grade Unit
- %
- Contained Metal
- 717.1
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:59f915872282c06cc948
Resource Data
- Category
- indicated
- Tonnes
- 51550000
- Grade
- 0.33
- Grade Unit
- %
- Contained Metal
- 372.4
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:56e613745979a252cd68
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 47.6
- Grade Unit
- g/t
- Contained Metal
- 22
- Contained Unit
- moz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:56e613745979a252cd68
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 0.37
- Grade Unit
- %
- Contained Metal
- 118.4
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Michael Parker
- Resource group id
- resource:56e613745979a252cd68
Resource Data
- Category
- inferred
- Tonnes
- 14330000
- Grade
- 0.25
- Grade Unit
- %
- Contained Metal
- 80
- Contained Unit
- mlb
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-12-04T00:00:00.000Z
Dates
- Event date
- 2026-02-12T00:00:00.000Z
Reasoning: The resource estimate is an update to the December 2025 release. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- High M&I percentage
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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.