Magma Silver Niñobamba Phase 1 Work Program Returns Significant Results Including 14.56g/mt Au and 10.59 oz/mt Ag
Original announcement by tmx on
- Company
- Magma Silver Corp.
- Ticker
- MGMA
- Exchange
- TSX
- Region
- Peru
- Primary commodity
- Silver
- Secondary commodities
- Gold
- Document categories
- Drill results, Other
- Extracted
- 2026-09-16 11:08:11 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Magma Silver reported Phase 1 geochemical sampling results from the Niñobamba project in Peru, highlighting high-grade surface samples including 14.56 g/t Au and 10.59 oz/mt Ag. The program aimed to confirm historical Newmont results and assist in targeting for a planned Q4 drill program.
Reasoning: Phase 1 geochemical sampling confirmed high-grade silver and gold at surface, exceeding some historical results, though no new drill intercepts were reported.
Positive factors
- High-grade surface samples
- Confirmation of historical Newmont results
- QA/QC protocols mentioned
Negative factors
- Surface sampling only (no drilling results in this release)
- Historical data used for context is non-compliant
Facts used in scoring: 5
Classification and evidence
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: Release mentions independent lab analysis and re-assaying every tenth sample for quality control.
Evidence · text
“every tenth sample will be re-assayed at another independent assay lab in Lima, Peru for quality control.”
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: The program is designed to confirm historical Newmont results and target areas based on previous work.
Evidence · text
“Phase 1 assays have confirmed or exceeded the historical Newmont Mining Corp. results.”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Drill Results (5)
Fact 1goldGrade: 5.32Grade Unit: g/mtView all detailsHide details
Identity
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 5.32
- Grade Unit
- g/mt
Classification
- Sample Type
- surface
Location
- Location
- old mine workings north of Jormina Central
- Loc. Source
- document
QA/QC
- Laboratory
- Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: High grade gold surface samples confirming historical potential.
Positive factors
- High grade
Evidence · text
“5 samples averaging 5.32 g/mt Au and 4.812 oz/mt Ag”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Four old mine workings located immediately north of the Jormina Central project were sampled with 5 samples averaging 5."
Fact 2silverGrade: 4.812Grade Unit: oz/mtView all detailsHide details
Identity
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 4.812
- Grade Unit
- oz/mt
Classification
- Sample Type
- surface
Location
- Location
- old mine workings north of Jormina Central
- Loc. Source
- document
QA/QC
- Laboratory
- Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: High grade silver surface samples confirming historical potential.
Positive factors
- High grade
Evidence · text
“5 samples averaging 5.32 g/mt Au and 4.812 oz/mt Ag”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Four old mine workings located immediately north of the Jormina Central project were sampled with 5 samples averaging 5."
Fact 3goldGrade: 1Grade Unit: g/mtView all detailsHide details
Identity
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 1
- Grade Unit
- g/mt
Classification
- Sample Type
- surface
Location
- Location
- Jorimina Central
- Loc. Source
- document
QA/QC
- Laboratory
- Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: Single sample grade in Jorimina Central.
Evidence · text
“one sample (SA-035) reaching 1.0 g/mt Au”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Four old mine workings located immediately north of the Jormina Central project were sampled with 5 samples averaging 5."
Fact 4goldGrade: 0.4Grade Unit: g/mtView all detailsHide details
Identity
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 0.4
- Grade Unit
- g/mt
Classification
- Sample Type
- surface
Location
- Location
- Rafaela
- Loc. Source
- document
QA/QC
- Laboratory
- Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: Maximum gold grade in Rafaela area.
Evidence · text
“maximum of 0.4 g/mt Au and 7.0 oz/mt Ag (SA-067)”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Four old mine workings located immediately north of the Jormina Central project were sampled with 5 samples averaging 5."
Fact 5silverGrade: 7Grade Unit: oz/mtView all detailsHide details
Identity
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 7
- Grade Unit
- oz/mt
Classification
- Sample Type
- surface
Location
- Location
- Rafaela
- Loc. Source
- document
QA/QC
- Laboratory
- Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: Maximum silver grade in Rafaela area.
Evidence · text
“maximum of 0.4 g/mt Au and 7.0 oz/mt Ag (SA-067)”
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: proximity is offered as the value premise: "Four old mine workings located immediately north of the Jormina Central project were sampled with 5 samples averaging 5."
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.