Magma Silver Niñobamba Phase 2 Work Program Results
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 11:03:53 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Magma Silver Corp. reported results from its Phase 2 work program at the Niñobamba project in Peru, focusing on the Joramina and Randypata zones. The program utilized drift sampling and surface chip sampling, which confirmed high-grade silver and gold mineralization and helped refine future drilling directions.
Reasoning: Phase 2 work program used drift and surface sampling to validate historical results and refine drill targeting; high-grade silver and gold intercepts were reported from surface and drift chips.
Positive factors
- confirmed historical results
- high-grade surface chip samples
- discovery of undocumented drift
Negative factors
- sampling is not drilling
- undrilled anomaly
Facts used in scoring: 6
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 fire assay at Independent Mining Lab Services and check assays at another lab in Lima.
Evidence · text
“analyzed at the Independent Mining Lab Services... every 10th 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 aims to validate previous results and refine drilling near known historical mineralization.
Evidence · text
“The purpose of the exploration program was to validate the previous results and to aid in designing a drill program.”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Drill Results (6)
Joramina driftNiñobamba · goldGrade: 2.32Grade Unit: g/tIntercept: 10 mNeeds review: ungroundedView all detailsHide details
Identity
- Hole ID
- Joramina drift
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 2.32
- Grade Unit
- g/t
- Intercept
- 10 m
- From
- 0 m
- To
- 10 m
Classification
- Sample Type
- channel
Location
- Location
- Joramina zone
- Loc. Source
- document
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- ungrounded
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: Solid gold intercept from drift sampling in a known zone.
Positive factors
- confirms historical results
Evidence · text
“10 metres of 2.32 grams Au/tonne”
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
Joramina driftNiñobamba · silverGrade: 4.085Grade Unit: oz/tIntercept: 5 mNeeds review: ungroundedView all detailsHide details
Identity
- Hole ID
- Joramina drift
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 4.085
- Grade Unit
- oz/t
- Intercept
- 5 m
- From
- 0 m
- To
- 5 m
Classification
- Sample Type
- channel
Location
- Location
- Joramina zone
- Loc. Source
- document
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- ungrounded
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: Strong silver grade from drift composite.
Positive factors
- high grade silver
Evidence · text
“5-metre composite returning 4.085 ounces Ag/tonne”
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
Fact 3Niñobamba · goldGrade: 17.41Grade Unit: g/tIntercept: 0.7 mView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 17.41
- Grade Unit
- g/t
- Intercept
- 0.7 m
- From
- 0 m
- To
- 0.7 m
Classification
- Sample Type
- surface
Location
- Location
- Joramina zone
- Loc. Source
- document
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: High grade gold chip sample near the drift.
Positive factors
- high grade
Evidence · text
“0.70 metres of 17.41 grams Au/tonne”
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
Fact 4Niñobamba · silverGrade: 13.94Grade Unit: oz/tIntercept: 0.7 mView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 13.94
- Grade Unit
- oz/t
- Intercept
- 0.7 m
- From
- 0 m
- To
- 0.7 m
Classification
- Sample Type
- surface
Location
- Location
- Joramina zone
- Loc. Source
- document
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: High grade silver chip sample near the drift.
Positive factors
- high grade
Evidence · text
“13.94 ounces Ag/tonne”
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
Fact 5Niñobamba · goldGrade: 0.2Grade Unit: g/tView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 0.2
- Grade Unit
- g/t
Classification
- Sample Type
- surface
Location
- Location
- Randypata
- Loc. Source
- document
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: Low grade grab sample on an undrilled anomaly.
Positive factors
- identifies anomaly
Evidence · text
“0.20 grams Au/tonne and 8.55 ounces Ag/tonne”
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
Fact 6Niñobamba · silverGrade: 8.55Grade Unit: oz/tView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 8.55
- Grade Unit
- oz/t
Classification
- Sample Type
- surface
Location
- Location
- Randypata
- Loc. Source
- document
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: Silver grade from grab sample on undrilled anomaly.
Positive factors
- silver anomaly
Evidence · text
“8.55 ounces Ag/tonne”
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
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.