# Magma Silver Plans Drill Program at Ni&\#xF1;obamba Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/magma-silver-plans-drill-program-at-ni-xf1-obamba--1800699a-001a-4f67-a496-0f26f5309544 Original source: https://money.tmx.com/en/quote/MGMA/news/7130067892915406/magma-silver-plans-drill-program-at-ni-xf1-obamba Publisher: tmx Original announcement: 2025-12-01T10:30:00.000Z 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: Gold - Secondary commodities: Silver - Document categories: Drill results, Other - Extracted: 2026-09-16 11:06:52 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Magma Silver Corp. has announced a two-phase, 4,000-metre drill program at the Niñobamba project in Peru, scheduled for Q1 2026. The program aims to confirm historical Newmont results and test new surface anomalies with a US$1,000,000 budget allocation. Reasoning: The announcement outlines a significant upcoming exploration program at Niñobamba, leveraging historical data to de-risk new drilling, though no new assay results are provided. - Positive factor: Planned 4,000m drill program - Positive factor: Access to high-quality historical Newmont data - Positive factor: Significant budget allocation of US$1M - Negative factor: Historical drilling orientation was sub-optimal - Negative factor: Phase 1 results required to unlock Phase 2 Facts used in scoring: 3 ## Classification and evidence **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 and optimize historical Newmont results in the Joramina zone. Evidence · text > The purpose of the initial drilling is to determine the orientation and size of the gold zone intersected by Newmont. **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: The release mentions the use of an independent NI 43-101 geologist and the availability of historical assay reports and drill logs. Evidence · text > Magma's experienced technical team is currently planning the entire work program in conjunction with an independent NI 43-101 geologist. ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Drill Results (3) ### JOR-001 [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-plans-drill-program-at-ni-xf1-obamba--1800699a-001a-4f67-a496-0f26f5309544#fact-drill-facts-0) Niñobamba · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: JOR-001 - Project: Niñobamba - Commodity: gold - Region: peru - Reported Region: peru - Ticker: MGMA #### Geometry - Grade: 1.19 - Grade Unit: g/t - Intercept: 72.3 m - From: 53 m - To: 125.3 m - Intercept Depth: 53 m #### Classification - Sample Type: drill - Group ID: JOR-001:53-125.3 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2010-01-01T00:00:00.000Z #### Dates - Event date: 2025-12-01T00:00:00.000Z Reasoning: Historical intercept provided for context; true width is unknown. - Negative factor: True width cannot be determined from single hole Evidence · text > hole JOR-001 drilled in 2010 returned 72.3 metres of 1.19 g/t Au starting at a depth of 53 metres #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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 **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### Joramina drift [Link to this fact](https://atlas-extractions.minestarters.com/news/magma-silver-plans-drill-program-at-ni-xf1-obamba--1800699a-001a-4f67-a496-0f26f5309544#fact-drill-facts-1) 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 #### Classification - Sample Type: channel #### Review - Needs Review: Yes - Review Reason: ungrounded - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-01T00:00:00.000Z Reasoning: Drift sampling results provided as reference for the Joramina zone. Evidence · text > Drift sampling on the Joramina zone returned 10 metres of 2.32 grams per tonne gold #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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-plans-drill-program-at-ni-xf1-obamba--1800699a-001a-4f67-a496-0f26f5309544#fact-drill-facts-2) Niñobamba · silver Needs review: ungrounded #### Identity - Hole ID: Joramina drift - Project: Niñobamba - Commodity: silver - Region: peru - Reported Region: Peru - Ticker: MGMA #### Geometry - Grade: 115.8 - Grade Unit: g/t - Intercept: 5 m #### Classification - Sample Type: channel #### Review - Needs Review: Yes - Review Reason: ungrounded - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-12-01T00:00:00.000Z Reasoning: Drift sampling results provided as reference for the Joramina zone. Evidence · text > a five-metre composite returning 4.085 ounces \(115.8 g\) per ton of silver #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not 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.