Minsud reports significant mineral resources growth at Chita Valley Deposits

Original announcement by tmx on

Company
Minsud Resources Corp.
Ticker
MSR
Exchange
TSX
Region
San Juan Province, Argentina
Primary commodity
Copper
Secondary commodities
Silver, Gold, Molybdenum, Zinc
Document categories
Resource update
Extracted
2026-09-18 11:06:02 UTC

Analysis by Minestarters Atlas

Minestarters Atlas analysis

Summary

Minsud Resources Corp. announced a significant update to its Mineral Resource Estimates for the Chita Valley Project in San Juan Province, Argentina, effective February 20, 2026. The consolidated estimate shows 1,033 kt of copper equivalent in Indicated Resources and 3,333 kt in Inferred Resources, representing substantial growth for both categories. The polymetallic deposits, including Chinchillones and Chita South Porphyry, are considered suitable for open-pit mining and flotation processing, with the estimate prepared under NI 43-101 standards by Qualified Persons.

Reasoning: Minsud reported a substantial increase in both Indicated and Inferred Mineral Resources for its Chita Valley Project, highlighting its potential as a district-scale polymetallic copper asset, with the estimate prepared under NI 43-101 standards and detailed technical parameters.

Positive factors

  • Significant resource growth
  • District-scale potential
  • Polymetallic credits
  • NI 43-101 compliant
  • QP signed
  • Detailed cut-off disclosure
  • Metal equivalent assumptions disclosed
  • Open-pit mining potential

Negative factors

  • Significant inferred component

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 116

Classification and evidence

Resource Updateneutral

Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document reports an updated Mineral Resource Estimate for the Chita Valley Project.

Evidence · text

“Minsud reports significant mineral resources growth at Chita Valley Deposits”

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: The Mineral Resource Estimate was prepared by Mr. Michael Job, Principal Geology and Geostatistics, a full-time employee of Cube Consulting Pty Ltd, in collaboration with GeoEstima SpA. As a Qualified Person (QP) under NI 43-101 standards, Mr. Job oversaw all aspects of the Mineral Resource Estimation.

Evidence · text

“The updated Mineral Resource Estimate was prepared by Mr. Michael Job, Principal Geology and Geostatistics, a full-time employee of Cube Consulting Pty Ltd, in collaboration with GeoEstima SpA. As a Qualified Person (QP) under NI 43-101 standards, Mr. Job oversaw all aspects of the Mineral Resource Estimation.”

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: The full technical report, prepared by Cube in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI-43-101"), will be filed on SEDAR+.

Evidence · text

“The full technical report, prepared by Cube in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI-43-101"), will be filed on SEDAR+ ( www.sedarplus.ca ) under the Company's issuer profile within 45 days of this news release.”

Contained Metal Growthpositive

True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: Indicated Resources show a 30.7% increase in CuEq and Inferred Resources show a 37.8% increase in CuEq.

Evidence · text

“Indicated Resources: 30.7 % increase; 1,014 kt CuEq... Inferred Resources: 37.8% increase; 2,823 kt CuEq”

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: A significant portion of the total resource is classified as Inferred, with 3,333 kt of copper equivalent in the Inferred category.

Evidence · text

“Inferred Resources: 3,333 kt of copper equivalent”

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The economic grades of the Mineral Resource Estimate (MRE) have been reported above Net Smelter Return (NSR) cut-offs that vary by deposit and domain.

Evidence · text

“The economic grades of the Mineral Resource Estimate (MRE) have been reported above Net Smelter Return (NSR) cut-offs that vary by deposit and domain. These NSR cut-offs are: Chinchillones low zinc geological domain - US$10.00/tonne Chinchillones high zinc geological domain - US$11.65/tonne PSU secondary enriched domain – US$7.10/tonne”

Extracted facts

Stored fact records: 116. Some facts used in scoring do not have a stored record.

Resource Estimates (116)

indicatedChinchillones · copperTonnes: 177000000View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.37
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated resource for the Low Zinc domain of Chinchillones with a good copper equivalent grade, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“0.37”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · copperTonnes: 177000000Grade: 0.24Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Grade
0.24
Grade Unit
%
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated copper resource for the Low Zinc domain of Chinchillones, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“0.24”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · silverTonnes: 177000000Grade: 8.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Grade
8.1
Grade Unit
g/t
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated silver resource for the Low Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“8.1”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · goldTonnes: 177000000Grade: 0.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Grade
0.1
Grade Unit
g/t
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated gold resource for the Low Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.10”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · molybdenumTonnes: 177000000Grade: 45.1Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Grade
45.1
Grade Unit
ppm
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated molybdenum resource for the Low Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“45.1”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · zincTonnes: 177000000Grade: 0Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Grade
0
Grade Unit
%
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated zinc resource for the Low Zinc domain of Chinchillones, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for zinc in this domain

Evidence · table

“0.0”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · copperTonnes: 681000000View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.32
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred resource for the Low Zinc domain of Chinchillones with a good copper equivalent grade, but with lower confidence due to its inferred classification.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“0.32”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · copperTonnes: 681000000Grade: 0.19Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Grade
0.19
Grade Unit
%
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred copper resource for the Low Zinc domain of Chinchillones, but with lower confidence due to its inferred classification.

Positive factors

  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“0.19”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · silverTonnes: 681000000Grade: 6.8Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Grade
6.8
Grade Unit
g/t
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred silver resource for the Low Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“6.8”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · goldTonnes: 681000000Grade: 0.08Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Grade
0.08
Grade Unit
g/t
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred gold resource for the Low Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.08”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · molybdenumTonnes: 681000000Grade: 96.1Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Grade
96.1
Grade Unit
ppm
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred molybdenum resource for the Low Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“96.1”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · zincTonnes: 681000000Grade: 0Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Grade
0
Grade Unit
%
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred zinc resource for the Low Zinc domain of Chinchillones, with a zero grade as expected for this domain and lower confidence due to inferred classification.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for zinc in this domain

Evidence · table

“0.0”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · copperTonnes: 56000000View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.63
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated resource for the High Zinc domain of Chinchillones with a good copper equivalent grade, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“0.63”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · copperTonnes: 56000000Grade: 0.17Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Grade
0.17
Grade Unit
%
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated copper resource for the High Zinc domain of Chinchillones, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“0.17”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · silverTonnes: 56000000Grade: 15.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Grade
15.1
Grade Unit
g/t
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated silver resource for the High Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“15.1”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · goldTonnes: 56000000Grade: 0.11Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Grade
0.11
Grade Unit
g/t
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated gold resource for the High Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.11”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · molybdenumTonnes: 56000000Grade: 0Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Grade
0
Grade Unit
ppm
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated molybdenum resource for the High Zinc domain of Chinchillones, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for molybdenum in this domain

Evidence · table

“0.0”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · zincTonnes: 56000000Grade: 0.67Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Grade
0.67
Grade Unit
%
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated zinc resource for the High Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.67”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · copperTonnes: 101000000View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.64
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred resource for the High Zinc domain of Chinchillones with a good copper equivalent grade, but with lower confidence due to its inferred classification.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“0.64”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · copperTonnes: 101000000Grade: 0.19Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Grade
0.19
Grade Unit
%
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred copper resource for the High Zinc domain of Chinchillones, but with lower confidence due to its inferred classification.

Positive factors

  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“0.19”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · silverTonnes: 101000000Grade: 14.5Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Grade
14.5
Grade Unit
g/t
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred silver resource for the High Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“14.5”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · goldTonnes: 101000000Grade: 0.09Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Grade
0.09
Grade Unit
g/t
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred gold resource for the High Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.09”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · molybdenumTonnes: 101000000Grade: 0Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Grade
0
Grade Unit
ppm
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred molybdenum resource for the High Zinc domain of Chinchillones, with a zero grade as expected for this domain and lower confidence due to inferred classification.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for molybdenum in this domain

Evidence · table

“0.0”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · zincTonnes: 101000000Grade: 0.71Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Grade
0.71
Grade Unit
%
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred zinc resource for the High Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.71”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · copperTonnes: 233000000View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.44
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated resource for Chinchillones with a strong copper equivalent grade, representing significant contained metal.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“0.44”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · copperTonnes: 233000000Grade: 0.22Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Grade
0.22
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated copper resource for Chinchillones, representing significant contained metal.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“0.22”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · silverTonnes: 233000000Grade: 10.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Grade
10.1
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated silver resource for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“10.1”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · goldTonnes: 233000000Grade: 0.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Grade
0.1
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated gold resource for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.10”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · molybdenumTonnes: 233000000Grade: 34.3Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Grade
34.3
Grade Unit
ppm

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated molybdenum resource for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“34.3”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · zincTonnes: 233000000Grade: 0.16Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Grade
0.16
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated zinc resource for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.16”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · copperTonnes: 782000000View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.36
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred resource for Chinchillones with a good copper equivalent grade, representing significant contained metal but with lower confidence.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“0.36”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · copperTonnes: 782000000Grade: 0.19Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Grade
0.19
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred copper resource for Chinchillones, representing significant contained metal but with lower confidence.

Positive factors

  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“0.19”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · silverTonnes: 782000000Grade: 8.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Grade
8.1
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred silver resource for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“8.1”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · goldTonnes: 782000000Grade: 0.08Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Grade
0.08
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred gold resource for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.08”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · molybdenumTonnes: 782000000Grade: 83.7Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Grade
83.7
Grade Unit
ppm

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred molybdenum resource for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“83.7”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChinchillones · zincTonnes: 782000000Grade: 0.09Grade Unit: %View all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Grade
0.09
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred zinc resource for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.09”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChinchillones · copperTonnes: 177000000Contained Metal: 662Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Contained Metal
662
Contained Unit
kt cueq
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained copper equivalent metal for the Low Zinc domain of Chinchillones, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“662”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · copperTonnes: 177000000Contained Metal: 428Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Contained Metal
428
Contained Unit
kt
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained copper metal for the Low Zinc domain of Chinchillones, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“428”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · silverTonnes: 177000000Contained Metal: 46Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Contained Metal
46
Contained Unit
m oz
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained silver metal for the Low Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“46.0”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · goldTonnes: 177000000Contained Metal: 562Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Contained Metal
562
Contained Unit
k oz
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained gold metal for the Low Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“562”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · molybdenumTonnes: 177000000Contained Metal: 8Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Contained Metal
8
Contained Unit
kt
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained molybdenum metal for the Low Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“8.0”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · zincTonnes: 177000000Contained Metal: 0Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e505c675da0fb28da1f8
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
177000000
Contained Metal
0
Contained Unit
kt
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained zinc metal for the Low Zinc domain of Chinchillones, with a zero value as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero contained metal for zinc in this domain

Evidence · table

“0.0”

Context: 177

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · copperTonnes: 681000000Contained Metal: 2176Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Contained Metal
2176
Contained Unit
kt cueq
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained copper equivalent metal for the Low Zinc domain of Chinchillones, but with lower confidence due to its inferred classification.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“2,176”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · copperTonnes: 681000000Contained Metal: 1321Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Contained Metal
1321
Contained Unit
kt
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained copper metal for the Low Zinc domain of Chinchillones, but with lower confidence due to its inferred classification.

Positive factors

  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“1,321”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · silverTonnes: 681000000Contained Metal: 148.8Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Contained Metal
148.8
Contained Unit
m oz
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained silver metal for the Low Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“148.8”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · goldTonnes: 681000000Contained Metal: 1768Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Contained Metal
1768
Contained Unit
k oz
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained gold metal for the Low Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“1,768”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · molybdenumTonnes: 681000000Contained Metal: 65.4Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Contained Metal
65.4
Contained Unit
kt
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained molybdenum metal for the Low Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“65.4”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · zincTonnes: 681000000Contained Metal: 0Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:8224bbc801306a53d2cc
Deposit or zone
Low Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
681000000
Contained Metal
0
Contained Unit
kt
Cutoff Grade
10
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained zinc metal for the Low Zinc domain of Chinchillones, with a zero value as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero contained metal for zinc in this domain

Evidence · table

“0.0”

Context: 681

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · copperTonnes: 56000000Contained Metal: 352Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Contained Metal
352
Contained Unit
kt cueq
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained copper equivalent metal for the High Zinc domain of Chinchillones, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“352”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · copperTonnes: 56000000Contained Metal: 93Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Contained Metal
93
Contained Unit
kt
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained copper metal for the High Zinc domain of Chinchillones, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“93”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · silverTonnes: 56000000Contained Metal: 27.3Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Contained Metal
27.3
Contained Unit
m oz
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained silver metal for the High Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“27.3”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · goldTonnes: 56000000Contained Metal: 192Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Contained Metal
192
Contained Unit
k oz
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained gold metal for the High Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“192”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · molybdenumTonnes: 56000000Contained Metal: 0Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Contained Metal
0
Contained Unit
kt
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained molybdenum metal for the High Zinc domain of Chinchillones, with a zero value as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero contained metal for molybdenum in this domain

Evidence · table

“0.0”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · zincTonnes: 56000000Contained Metal: 375Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:86542aa5a351df9629ec
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
56000000
Contained Metal
375
Contained Unit
kt
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated contained zinc metal for the High Zinc domain of Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“375”

Context: 56

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · copperTonnes: 101000000Contained Metal: 647Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Contained Metal
647
Contained Unit
kt cueq
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained copper equivalent metal for the High Zinc domain of Chinchillones, but with lower confidence due to its inferred classification.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“647”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · copperTonnes: 101000000Contained Metal: 193Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Contained Metal
193
Contained Unit
kt
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained copper metal for the High Zinc domain of Chinchillones, but with lower confidence due to its inferred classification.

Positive factors

  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“193”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · silverTonnes: 101000000Contained Metal: 47Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Contained Metal
47
Contained Unit
m oz
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained silver metal for the High Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“47.0”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · goldTonnes: 101000000Contained Metal: 283Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Contained Metal
283
Contained Unit
k oz
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained gold metal for the High Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“283”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · molybdenumTonnes: 101000000Contained Metal: 0Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Contained Metal
0
Contained Unit
kt
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained molybdenum metal for the High Zinc domain of Chinchillones, with a zero value as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero contained metal for molybdenum in this domain

Evidence · table

“0.0”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · zincTonnes: 101000000Contained Metal: 719Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:3bb5ecf4d601ae8063d1
Deposit or zone
High Zinc
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
101000000
Contained Metal
719
Contained Unit
kt
Cutoff Grade
11.65
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred contained zinc metal for the High Zinc domain of Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“719”

Context: 101

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · copperTonnes: 233000000Contained Metal: 1014Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Contained Metal
1014
Contained Unit
kt cueq

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained copper equivalent metal for Chinchillones, representing significant contained metal.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“1,014”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · copperTonnes: 233000000Contained Metal: 521Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Contained Metal
521
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained copper metal for Chinchillones, representing significant contained metal.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“521”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · silverTonnes: 233000000Contained Metal: 73.2Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Contained Metal
73.2
Contained Unit
m oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained silver metal for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“73.2”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · goldTonnes: 233000000Contained Metal: 754Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Contained Metal
754
Contained Unit
k oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained gold metal for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“754”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · molybdenumTonnes: 233000000Contained Metal: 8Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Contained Metal
8
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained molybdenum metal for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“8.0”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChinchillones · zincTonnes: 233000000Contained Metal: 375Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:54917ab9bd19ab6f269b
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
233000000
Contained Metal
375
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained zinc metal for Chinchillones, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“375”

Context: 233

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · copperTonnes: 782000000Contained Metal: 2823Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Contained Metal
2823
Contained Unit
kt cueq

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained copper equivalent metal for Chinchillones, representing significant contained metal but with lower confidence.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“2,823”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · copperTonnes: 782000000Contained Metal: 1514Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Contained Metal
1514
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained copper metal for Chinchillones, representing significant contained metal but with lower confidence.

Positive factors

  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“1,514”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · silverTonnes: 782000000Contained Metal: 195.8Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Contained Metal
195.8
Contained Unit
m oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained silver metal for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“195.8”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · goldTonnes: 782000000Contained Metal: 2051Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Contained Metal
2051
Contained Unit
k oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained gold metal for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“2,051”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · molybdenumTonnes: 782000000Contained Metal: 65.4Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:ac9782a403d97e53370c
Deposit or zone
Chinchillones Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Contained Metal
65.4
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained molybdenum metal for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“65.4”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChinchillones · zincTonnes: 782000000Contained Metal: 719Contained Unit: ktView all details
Link to this fact

Identity

Project
Chinchillones
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:6d4ceb5efb11265eb43a
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
782000000
Contained Metal
719
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained zinc metal for Chinchillones, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“719”

Context: 782

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita South Porphyry (PSU) · copperTonnes: 7000000Contained Metal: 19Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4e25fd52fb466e1a4dfd
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Contained Metal
19
Contained Unit
kt cueq
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.3
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated resource for the Enriched domain of Chita South Porphyry with a good copper equivalent grade, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“19”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita South Porphyry (PSU) · silverTonnes: 7000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4e25fd52fb466e1a4dfd
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated silver resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for silver in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · goldTonnes: 7000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4e25fd52fb466e1a4dfd
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated gold resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for gold in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · molybdenumTonnes: 7000000Grade: 0Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4e25fd52fb466e1a4dfd
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
ppm
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated molybdenum resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for molybdenum in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · zincTonnes: 7000000Grade: 0Grade Unit: %View all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4e25fd52fb466e1a4dfd
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
%
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Indicated zinc resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for zinc in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · copperTonnes: 174000000Contained Metal: 510Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:29bdd30c6b2ec023556a
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Contained Metal
510
Contained Unit
kt cueq
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.29
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred resource for the Enriched domain of Chita South Porphyry with a good copper equivalent grade, but with lower confidence due to its inferred classification.

Positive factors

  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“510”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita South Porphyry (PSU) · silverTonnes: 174000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:29bdd30c6b2ec023556a
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred silver resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for silver in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · goldTonnes: 174000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:29bdd30c6b2ec023556a
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred gold resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for gold in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · molybdenumTonnes: 174000000Grade: 0Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:29bdd30c6b2ec023556a
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
ppm
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred molybdenum resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for molybdenum in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · zincTonnes: 174000000Grade: 0Grade Unit: %View all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:29bdd30c6b2ec023556a
Deposit or zone
Enriched
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
%
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Inferred zinc resource for the Enriched domain of Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for zinc in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · copperTonnes: 7000000Contained Metal: 19Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:863b961a7ed8d31ec859
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Contained Metal
19
Contained Unit
kt cueq
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.3
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated resource for Chita South Porphyry with a good copper equivalent grade, supporting open-pit mining.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Detailed cut-off disclosure

Evidence · table

“19”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita South Porphyry (PSU) · silverTonnes: 7000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:863b961a7ed8d31ec859
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated silver resource for Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for silver in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · goldTonnes: 7000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:863b961a7ed8d31ec859
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated gold resource for Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for gold in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · molybdenumTonnes: 7000000Grade: 0Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:863b961a7ed8d31ec859
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
ppm
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated molybdenum resource for Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for molybdenum in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita South Porphyry (PSU) · zincTonnes: 7000000Grade: 0Grade Unit: %View all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:863b961a7ed8d31ec859
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
7000000
Grade
0
Grade Unit
%
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated zinc resource for Chita South Porphyry, with a zero grade as expected for this domain.

Positive factors

  • Indicated resource
  • Open-pit mining potential

Negative factors

  • Zero grade for zinc in this domain

Evidence · table

“0.0”

Context: 7

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · copperTonnes: 174000000Contained Metal: 510Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e6898b80c49a3b6a22ba
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Contained Metal
510
Contained Unit
kt cueq
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.29
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred resource for Chita South Porphyry with a good copper equivalent grade, but with lower confidence due to its inferred classification.

Positive factors

  • Open-pit mining potential
  • Detailed cut-off disclosure

Negative factors

  • Inferred resource

Evidence · table

“510”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita South Porphyry (PSU) · silverTonnes: 174000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e6898b80c49a3b6a22ba
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred silver resource for Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for silver in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · goldTonnes: 174000000Grade: 0Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e6898b80c49a3b6a22ba
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
g/t
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred gold resource for Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for gold in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · molybdenumTonnes: 174000000Grade: 0Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e6898b80c49a3b6a22ba
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
ppm
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred molybdenum resource for Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for molybdenum in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita South Porphyry (PSU) · zincTonnes: 174000000Grade: 0Grade Unit: %View all details
Link to this fact

Identity

Project
Chita South Porphyry (PSU)
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:e6898b80c49a3b6a22ba
Deposit or zone
Chita South Porphyry (PSU) Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
174000000
Grade
0
Grade Unit
%
Cutoff Grade
7.1
Cutoff Unit
US$/tonne

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred zinc resource for Chita South Porphyry, with a zero grade as expected for this domain and lower confidence.

Positive factors

  • Open-pit mining potential

Negative factors

  • Inferred resource
  • Zero grade for zinc in this domain

Evidence · table

“0.0”

Context: 174

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Disclosedpositive

Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff_grade is stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · copperTonnes: 240000000View all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.43
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated resource for Chita Valley with a strong copper equivalent grade, representing significant contained metal.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“0.43”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · copperTonnes: 240000000Grade: 0.23Grade Unit: %View all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Grade
0.23
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated copper resource for Chita Valley, representing significant contained metal.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“0.23”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · silverTonnes: 240000000Grade: 9.8Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Grade
9.8
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated silver resource for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“9.8”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · goldTonnes: 240000000Grade: 0.1Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Grade
0.1
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated gold resource for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.1”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · molybdenumTonnes: 240000000Grade: 33.3Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Grade
33.3
Grade Unit
ppm

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated molybdenum resource for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“33.3”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · zincTonnes: 240000000Grade: 0.16Grade Unit: %View all details
Link to this fact

Identity

Project
Chita Valley
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Grade
0.16
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated zinc resource for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“0.16”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita Valley · copperTonnes: 955000000View all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Metal Eq. Grade
0.35
Metal Eq. Unit
% CuEq
Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred resource for Chita Valley with a good copper equivalent grade, representing significant contained metal but with lower confidence.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“0.35”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita Valley · copperTonnes: 955000000Grade: 0.21Grade Unit: %View all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Grade
0.21
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred copper resource for Chita Valley, representing significant contained metal but with lower confidence.

Positive factors

  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“0.21”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita Valley · silverTonnes: 955000000Grade: 6.6Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Grade
6.6
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred silver resource for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“6.6”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita Valley · goldTonnes: 955000000Grade: 0.07Grade Unit: g/tView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Grade
0.07
Grade Unit
g/t

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred gold resource for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.07”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita Valley · molybdenumTonnes: 955000000Grade: 68.4Grade Unit: ppmView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Grade
68.4
Grade Unit
ppm

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred molybdenum resource for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“68.4”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

inferredChita Valley · zincTonnes: 955000000Grade: 0.08Grade Unit: %View all details
Link to this fact

Identity

Project
Chita Valley
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Grade
0.08
Grade Unit
%

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred zinc resource for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“0.08”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

No Contained Metalnegative

Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained_metal was not reported

indicatedChita Valley · copperTonnes: 240000000Contained Metal: 1033Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Contained Metal
1033
Contained Unit
kt cueq

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained copper equivalent metal for Chita Valley, representing significant contained metal.

Positive factors

  • Indicated resource
  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“1,033”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita Valley · copperTonnes: 240000000Contained Metal: 540Contained Unit: ktView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Contained Metal
540
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained copper metal for Chita Valley, representing significant contained metal.

Positive factors

  • Indicated resource
  • Open-pit mining potential
  • Significant contained metal

Evidence · table

“540”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita Valley · silverTonnes: 240000000Contained Metal: 73.2Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Contained Metal
73.2
Contained Unit
m oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained silver metal for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“73.2”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita Valley · goldTonnes: 240000000Contained Metal: 754Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Contained Metal
754
Contained Unit
k oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained gold metal for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“754”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita Valley · molybdenumTonnes: 240000000Contained Metal: 8Contained Unit: ktView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Contained Metal
8
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained molybdenum metal for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“8”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

indicatedChita Valley · zincTonnes: 240000000Contained Metal: 375Contained Unit: ktView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:b95a5badaca1a8e9f4c0
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
indicated
Tonnes
240000000
Contained Metal
375
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Indicated contained zinc metal for Chita Valley, contributing to polymetallic credits.

Positive factors

  • Indicated resource
  • Polymetallic credit
  • Open-pit mining potential

Evidence · table

“375”

Context: 240

Tags used in scoring

Indicated Resourcepositive

Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita Valley · copperTonnes: 955000000Contained Metal: 3333Contained Unit: kt cueqView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Contained Metal
3333
Contained Unit
kt cueq

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained copper equivalent metal for Chita Valley, representing significant contained metal but with lower confidence.

Positive factors

  • Polymetallic credits
  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“3,333”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita Valley · copperTonnes: 955000000Contained Metal: 2024Contained Unit: ktView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
copper
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Contained Metal
2024
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained copper metal for Chita Valley, representing significant contained metal but with lower confidence.

Positive factors

  • Open-pit mining potential
  • Significant contained metal

Negative factors

  • Inferred resource

Evidence · table

“2,024”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita Valley · silverTonnes: 955000000Contained Metal: 195.8Contained Unit: m ozView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
silver
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Contained Metal
195.8
Contained Unit
m oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained silver metal for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“195.8”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita Valley · goldTonnes: 955000000Contained Metal: 2051Contained Unit: k ozView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
gold
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Contained Metal
2051
Contained Unit
k oz

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained gold metal for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“2,051”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita Valley · molybdenumTonnes: 955000000Contained Metal: 65.4Contained Unit: ktView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
molybdenum
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Contained Metal
65.4
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained molybdenum metal for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“65.4”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

inferredChita Valley · zincTonnes: 955000000Contained Metal: 719Contained Unit: ktView all details
Link to this fact

Identity

Project
Chita Valley
Commodity
zinc
Region
argentina
Reported Region
San Juan Province, Argentina
Ticker
MSR

Resource scope

Estimate type
resource
Effective date
2026-02-20T00:00:00.000Z
Reporting standards
ni_43_101
QP Signed
Yes
Qualified person names
Michael Job, Orlando Rojas, Renato Bobis
Resource group id
resource:4732936835a6d1107f53
Deposit or zone
Chita Valley Total
Mining method
open_pit
Ownership percent
49.9 %
Resource basis
gross

Resource Data

Category
inferred
Tonnes
955000000
Contained Metal
719
Contained Unit
kt

Prior Estimate

Resource Date
2026-02-20

Metal Equivalent

Assumptions Disclosed
Yes

Lab

Laboratory
ALS Patagonia S.A. and ALS Perú S.A.

Review

Needs Review
No
Historical
No

Dates

Event date
2026-02-27T00:00:00.000Z

Reasoning: Total Inferred contained zinc metal for Chita Valley, contributing to polymetallic credits but with lower confidence.

Positive factors

  • Polymetallic credit
  • Open-pit mining potential

Negative factors

  • Inferred resource

Evidence · table

“719”

Context: 955

Tags used in scoring

Inferred Resourcenegative

Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

QP/CP Signedpositive

Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.

Why it applies: qp_signed is true

NI 43-101 Compliantpositive

Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.

Why it applies: reporting_standards includes ni_43_101

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.