First Quantum Files NI 43-101 Technical Report for Taca Taca
Original announcement by tmx on
- Company
- First Quantum Minerals Ltd.
- Ticker
- FM
- Exchange
- TSX
- Region
- Salta Province, Argentina
- Primary commodity
- Copper
- Secondary commodities
- Gold, Molybdenum
- Document categories
- Resource update, Economic study
- Extracted
- 2026-09-17 22:56:38 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
First Quantum Minerals has filed a new NI 43-101 Technical Report for its Taca Taca copper-gold-molybdenum project in Argentina, effective December 31, 2025. The updated study shows robust economics with an after-tax NPV of $5,917 million and an IRR of 19.3%, based on a 40-60 Mtpa open pit operation over 35 years. Mineral reserves have increased by 13% since the 2021 report, with the project demonstrating low capital intensity and clean concentrates, positioning it as a premier undeveloped copper asset.
Reasoning: The document presents a new NI 43-101 compliant technical report for the Taca Taca project, showing significantly improved economics (NPV and IRR) and increased mineral reserves compared to the prior study. The project demonstrates strong potential as a major, long-life copper mine with competitive costs and progress on key de-risking activities like permitting and the RIGI application. While funding is still being evaluated, the overall update is highly positive.
Positive factors
- Strong project economics with high NPV and IRR
- Significant increase in mineral reserves and contained metal
- NI 43-101 compliant technical report provides high confidence
- Progress on permitting and RIGI application in Argentina
- Low capital intensity for a large-scale copper project
- Clean concentrate with low penalty elements
Negative factors
- Funding for the project is not yet fully committed
- QP independence not explicitly stated
Facts used in scoring: 28
Classification and evidence
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Extracted facts
Stored fact records: 26. Some facts used in scoring do not have a stored record.
Resource Estimates (26)
provenTaca Taca · copperTonnes: 432100000Grade: 0.58Grade Unit: %Contained Metal: 2509.5Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:591948586cda28f533c5
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 432100000
- Grade
- 0.58
- Grade Unit
- %
- Contained Metal
- 2509.5
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This is a high-confidence Proven Reserve for copper, contributing significantly to the project's overall contained metal.
Positive factors
- High confidence category (Proven)
- Significant contained metal
Evidence · table
“0.58”
Context: 432.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
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
provenTaca Taca · molybdenumTonnes: 432100000Grade: 0.015Grade Unit: %Contained Metal: 66.8Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:591948586cda28f533c5
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 432100000
- Grade
- 0.015
- Grade Unit
- %
- Contained Metal
- 66.8
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Proven Reserve for molybdenum provides additional value as a byproduct, contributing to the overall project economics.
Positive factors
- High confidence category (Proven)
- Adds to polymetallic value
Evidence · table
“0.015”
Context: 432.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
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
provenTaca Taca · goldTonnes: 432100000Grade: 0.13Grade Unit: g/tContained Metal: 1835.6Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:591948586cda28f533c5
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 432100000
- Grade
- 0.13
- Grade Unit
- g/t
- Contained Metal
- 1835.6
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Proven Reserve for gold adds meaningful byproduct value to the copper project, enhancing overall economics.
Positive factors
- High confidence category (Proven)
- Significant contained gold as a byproduct
Evidence · table
“0.13”
Context: 432.1
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
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
probableTaca Taca · copperTonnes: 1558000000Grade: 0.38Grade Unit: %Contained Metal: 5919Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:de99a7d953a56201bfbf
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1558000000
- Grade
- 0.38
- Grade Unit
- %
- Contained Metal
- 5919
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Probable Reserve represents a substantial portion of the project's copper, providing a strong foundation for future development.
Positive factors
- Large tonnage in Probable category
- Significant contained copper metal
Evidence · table
“0.38”
Context: 1,558.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
probableTaca Taca · molybdenumTonnes: 1558000000Grade: 0.011Grade Unit: %Contained Metal: 177.6Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:de99a7d953a56201bfbf
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1558000000
- Grade
- 0.011
- Grade Unit
- %
- Contained Metal
- 177.6
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Probable Reserve for molybdenum contributes to the overall byproduct value of the project.
Positive factors
- Adds to polymetallic value
Evidence · table
“0.011”
Context: 1,558.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
probableTaca Taca · goldTonnes: 1558000000Grade: 0.07Grade Unit: g/tContained Metal: 3696.6Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2022-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:e0d5501c59f9aaa1402e
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1558000000
- Grade
- 0.07
- Grade Unit
- g/t
- Contained Metal
- 3696.6
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2022-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Probable Reserve for gold provides substantial byproduct value, enhancing the project's economic profile.
Positive factors
- Significant contained gold as a byproduct
Evidence · table
“0.07”
Context: 1,558.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.1 years before this release
probableTaca Taca · copperTonnes: 1990100000Grade: 0.42Grade Unit: %Contained Metal: 8428.5Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:394025b324d7a1deb9b5
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1990100000
- Grade
- 0.42
- Grade Unit
- %
- Contained Metal
- 8428.5
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Proven and Probable Reserve for copper is substantial and shows a significant increase from the previous estimate, de-risking the project.
Positive factors
- Large total Proven and Probable Reserve
- Significant contained copper metal
- 13% increase in combined Proven and Probable Reserves since 2021
Evidence · table
“0.42”
Context: 1,990.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
probableTaca Taca · molybdenumTonnes: 1990100000Grade: 0.012Grade Unit: %Contained Metal: 244.4Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:394025b324d7a1deb9b5
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1990100000
- Grade
- 0.012
- Grade Unit
- %
- Contained Metal
- 244.4
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Proven and Probable Reserve for molybdenum provides additional byproduct value to the project.
Positive factors
- Adds to polymetallic value
Evidence · table
“0.012”
Context: 1,990.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
probableTaca Taca · goldTonnes: 1990100000Grade: 0.09Grade Unit: g/tContained Metal: 5532.2Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:394025b324d7a1deb9b5
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1990100000
- Grade
- 0.09
- Grade Unit
- g/t
- Contained Metal
- 5532.2
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Proven and Probable Reserve for gold adds substantial byproduct value, enhancing the project's economic profile.
Positive factors
- Significant contained gold as a byproduct
Evidence · table
“0.09”
Context: 1,990.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
measuredTaca Taca · copperTonnes: 441000000Grade: 0.58Grade Unit: %Contained Metal: 2557Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3939422e348ce7269136
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 441000000
- Grade
- 0.58
- Grade Unit
- %
- Contained Metal
- 2557
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.67
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Measured Resource for copper provides a high-confidence estimate, forming a strong basis for future reserve conversion.
Positive factors
- High confidence category (Measured)
- Significant contained copper metal
Evidence · table
“0.58”
Context: 441
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredTaca Taca · molybdenumTonnes: 441000000Grade: 0.015Grade Unit: %Contained Metal: 68Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3939422e348ce7269136
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 441000000
- Grade
- 0.015
- Grade Unit
- %
- Contained Metal
- 68
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.67
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Measured Resource for molybdenum contributes to the overall byproduct value of the project with high confidence.
Positive factors
- High confidence category (Measured)
- Adds to polymetallic value
Evidence · table
“0.015”
Context: 441
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredTaca Taca · goldTonnes: 441000000Grade: 0.13Grade Unit: g/tContained Metal: 1868Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3939422e348ce7269136
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 441000000
- Grade
- 0.13
- Grade Unit
- g/t
- Contained Metal
- 1868
- Contained Unit
- koz
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.67
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Measured Resource for gold provides substantial byproduct value with high confidence, enhancing the project's economic profile.
Positive factors
- High confidence category (Measured)
- Significant contained gold as a byproduct
Evidence · table
“0.13”
Context: 441
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
measuredTaca Taca · copperTonnes: 441000000Grade: 0.58Grade Unit: %View all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3939422e348ce7269136
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 441000000
- Grade
- 0.58
- Grade Unit
- %
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.67
- Metal Eq. Unit
- CuEq (%)
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Measured Resource for copper equivalent provides a high-confidence combined value for the polymetallic deposit.
Positive factors
- High confidence category (Measured)
- Metal equivalent provides combined value perspective
Evidence · table
“0.58”
Context: 441
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · copperTonnes: 1637000000Grade: 0.38Grade Unit: %Contained Metal: 6159Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:5aef77800181d40f3695
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1637000000
- Grade
- 0.38
- Grade Unit
- %
- Contained Metal
- 6159
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.43
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Indicated Resource for copper represents a substantial portion of the project's metal, providing reasonable geological confidence.
Positive factors
- Large tonnage in Indicated category
- Significant contained copper metal
Evidence · table
“0.38”
Context: 1,637
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · molybdenumTonnes: 1637000000Grade: 0.011Grade Unit: %Contained Metal: 185Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:5aef77800181d40f3695
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1637000000
- Grade
- 0.011
- Grade Unit
- %
- Contained Metal
- 185
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.43
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Indicated Resource for molybdenum contributes to the overall byproduct value of the project.
Positive factors
- Adds to polymetallic value
Evidence · table
“0.011”
Context: 1,637
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · goldTonnes: 1637000000Grade: 0.07Grade Unit: g/tContained Metal: 3847Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:5aef77800181d40f3695
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1637000000
- Grade
- 0.07
- Grade Unit
- g/t
- Contained Metal
- 3847
- Contained Unit
- koz
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.43
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Indicated Resource for gold provides substantial byproduct value, enhancing the project's economic profile.
Positive factors
- Significant contained gold as a byproduct
Evidence · table
“0.07”
Context: 1,637
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · copperTonnes: 1637000000Grade: 0.38Grade Unit: %View all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:5aef77800181d40f3695
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1637000000
- Grade
- 0.38
- Grade Unit
- %
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.43
- Metal Eq. Unit
- CuEq (%)
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Indicated Resource for copper equivalent provides a combined value for the polymetallic deposit with reasonable confidence.
Positive factors
- Metal equivalent provides combined value perspective
Evidence · table
“0.38”
Context: 1,637
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · copperTonnes: 2078000000Grade: 0.42Grade Unit: %Contained Metal: 8716Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3febf7ea10bc3d6fb61f
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2078000000
- Grade
- 0.42
- Grade Unit
- %
- Contained Metal
- 8716
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.48
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for copper is substantial, providing a strong and confident resource base for the project.
Positive factors
- Large total Measured and Indicated Resource
- Significant contained copper metal
Evidence · table
“0.42”
Context: 2,078
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · molybdenumTonnes: 2078000000Grade: 0.012Grade Unit: %Contained Metal: 253Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3febf7ea10bc3d6fb61f
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2078000000
- Grade
- 0.012
- Grade Unit
- %
- Contained Metal
- 253
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.48
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for molybdenum contributes to the overall byproduct value of the project.
Positive factors
- Adds to polymetallic value
Evidence · table
“0.012”
Context: 2,078
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · goldTonnes: 2078000000Grade: 0.09Grade Unit: g/tContained Metal: 5715Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3febf7ea10bc3d6fb61f
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2078000000
- Grade
- 0.09
- Grade Unit
- g/t
- Contained Metal
- 5715
- Contained Unit
- koz
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.48
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for gold provides substantial byproduct value, enhancing the project's economic profile.
Positive factors
- Significant contained gold as a byproduct
Evidence · table
“0.09”
Context: 2,078
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedTaca Taca · copperTonnes: 2078000000Grade: 0.42Grade Unit: %View all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:3febf7ea10bc3d6fb61f
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2078000000
- Grade
- 0.42
- Grade Unit
- %
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.48
- Metal Eq. Unit
- CuEq (%)
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The combined Measured and Indicated Resource for copper equivalent provides a confident combined value for the polymetallic deposit.
Positive factors
- Metal equivalent provides combined value perspective
Evidence · table
“0.42”
Context: 2,078
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredTaca Taca · copperTonnes: 145000000Grade: 0.27Grade Unit: %Contained Metal: 389Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:04a5623f34b73a5383f0
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 145000000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 389
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.31
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Inferred Resource for copper provides additional potential but has lower geological confidence compared to Measured and Indicated categories.
Positive factors
- Adds to overall resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“0.27”
Context: 145
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredTaca Taca · molybdenumTonnes: 145000000Grade: 0.007Grade Unit: %Contained Metal: 10Contained Unit: ktView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- molybdenum
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:04a5623f34b73a5383f0
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 145000000
- Grade
- 0.007
- Grade Unit
- %
- Contained Metal
- 10
- Contained Unit
- kt
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.31
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Inferred Resource for molybdenum provides additional byproduct potential but with lower confidence.
Positive factors
- Adds to polymetallic value
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“0.007”
Context: 145
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredTaca Taca · goldTonnes: 145000000Grade: 0.06Grade Unit: g/tContained Metal: 263Contained Unit: kozView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:04a5623f34b73a5383f0
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 145000000
- Grade
- 0.06
- Grade Unit
- g/t
- Contained Metal
- 263
- Contained Unit
- koz
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.31
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Inferred Resource for gold provides additional byproduct potential but with lower geological confidence.
Positive factors
- Adds to overall resource base
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“0.06”
Context: 145
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredTaca Taca · copperTonnes: 145000000Grade: 0.27Grade Unit: %View all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- copper
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- resource
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:04a5623f34b73a5383f0
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 145000000
- Grade
- 0.27
- Grade Unit
- %
- Cutoff Grade
- 0.11
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Metal Eq. Grade
- 0.31
- Metal Eq. Unit
- CuEq (%)
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: The Inferred Resource for copper equivalent provides additional combined value but with lower confidence.
Positive factors
- Metal equivalent provides combined value perspective
Negative factors
- Lower confidence category (Inferred)
Evidence · table
“0.27”
Context: 145
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
probableTaca Taca · goldTonnes: 1558000000Grade: 0.07Grade Unit: g/tView all detailsHide details
Identity
- Project
- Taca Taca
- Commodity
- gold
- Region
- argentina
- Reported Region
- Salta Province, Argentina
- Ticker
- FM
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-12-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- David Gray, Michael Lawlor
- Resource group id
- resource:de99a7d953a56201bfbf
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 1558000000
- Grade
- 0.07
- Grade Unit
- g/t
Prior Estimate
- Resource Date
- 2025-12-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-19T00:00:00.000Z
Reasoning: This Probable Reserve represents a substantial portion of the project's copper, providing a strong foundation for future development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large tonnage in Probable category
- Significant contained copper metal
Evidence · table
“0.07”
Context: 1,558.0
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
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
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
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.