# Magma Silver Ni&\#xF1;obamba Phase 1 Work Program Returns Significant Results Including 14.56g/mt Au and 10.59 oz/mt Ag Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl--0bf3e73b-d611-4837-aa09-68e4ff41abd0 Original source: https://money.tmx.com/en/quote/MGMA/news/8231756740380920/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl Publisher: tmx Original announcement: 2025-09-18T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas 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 factor: High-grade surface samples - Positive factor: Confirmation of historical Newmont results - Positive factor: QA/QC protocols mentioned - Negative factor: Surface sampling only \(no drilling results in this release\) - Negative factor: Historical data used for context is non-compliant Facts used in scoring: 5 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: 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 Play** Polarity: neutral Definition: 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 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl--0bf3e73b-d611-4837-aa09-68e4ff41abd0#fact-drill-facts-0) gold #### 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 factor: High grade Evidence · text > 5 samples averaging 5.32 g/mt Au and 4.812 oz/mt Ag #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: 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 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl--0bf3e73b-d611-4837-aa09-68e4ff41abd0#fact-drill-facts-1) silver #### 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 factor: High grade Evidence · text > 5 samples averaging 5.32 g/mt Au and 4.812 oz/mt Ag #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: 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 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl--0bf3e73b-d611-4837-aa09-68e4ff41abd0#fact-drill-facts-2) gold #### 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 Disclosed** Polarity: positive Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: 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 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl--0bf3e73b-d611-4837-aa09-68e4ff41abd0#fact-drill-facts-3) gold #### 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 Disclosed** Polarity: positive Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: 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 5 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-1-work-program-returns-significant-results-incl--0bf3e73b-d611-4837-aa09-68e4ff41abd0#fact-drill-facts-4) silver #### 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 Disclosed** Polarity: positive Definition: 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Nearology Play** Polarity: neutral Definition: 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.