# Magma Silver Ni&\#xF1;obamba Phase 2 Work Program Results Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664 Original source: https://money.tmx.com/en/quote/MGMA/news/5051223247465327/magma-silver-ni-xf1-obamba-phase-2-work-program-results Publisher: tmx Original announcement: 2025-10-30T15:00:00.000Z 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 11:03:53 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas 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 factor: confirmed historical results - Positive factor: high-grade surface chip samples - Positive factor: discovery of undocumented drift - Negative factor: sampling is not drilling - Negative factor: undrilled anomaly Facts used in scoring: 6 ## 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 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 Play** Polarity: neutral Definition: 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 drift [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664#fact-drill-facts-0) Niñobamba · gold Needs review: ungrounded #### 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 factor: confirms historical results Evidence · text > 10 metres of 2.32 grams Au/tonne #### 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 ### Joramina drift [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664#fact-drill-facts-1) Niñobamba · silver Needs review: ungrounded #### 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 factor: high grade silver Evidence · text > 5-metre composite returning 4.085 ounces Ag/tonne #### 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 ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664#fact-drill-facts-2) Niñobamba · gold #### 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 factor: high grade Evidence · text > 0.70 metres of 17.41 grams Au/tonne #### 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 ### Fact 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664#fact-drill-facts-3) Niñobamba · silver #### 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 factor: high grade Evidence · text > 13.94 ounces Ag/tonne #### 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 ### Fact 5 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664#fact-drill-facts-4) Niñobamba · gold #### 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 factor: identifies anomaly Evidence · text > 0.20 grams Au/tonne and 8.55 ounces Ag/tonne #### 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 ### Fact 6 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--41c5d767-387f-4fff-8f8c-2c5c085b7664#fact-drill-facts-5) Niñobamba · silver #### 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 factor: silver anomaly Evidence · text > 8.55 ounces Ag/tonne #### 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 ## 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.