New Pacific Metals Reports Results of Updated Carangas Preliminary Economic Assessment: Post-tax $2.65 Billion NPV (5%) and 35.9% IRR; 339.0 Million Oz of Silver Equivalent Produced
Original announcement by tmx on
- Company
- New Pacific Metals Corp.
- Ticker
- NUAG
- Exchange
- TSX
- Region
- Oruro Department, Bolivia
- Primary commodity
- Silver
- Secondary commodities
- Gold, Zinc, Lead
- Document categories
- Resource update, Economic study, Metallurgy
- Extracted
- 2026-09-16 14:45:11 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
New Pacific Metals reported an updated Preliminary Economic Assessment (PEA) for its Carangas project in Bolivia, highlighting a post-tax NPV(5%) of $2.65 billion and an IRR of 35.9%. The study projects a 19-year mine life producing 195 Moz payable silver and 1.1 Moz payable gold, with initial capital costs of $644.5 million and a 2.4-year payback period. The updated resource estimate, effective March 31, 2026, includes significant indicated and inferred resources across silver, gold, lead, and zinc zones.
Reasoning: The updated PEA for the Carangas project shows robust economics with a post-tax NPV(5%) of $2.65 billion and an IRR of 35.9%, driven by a low strip ratio and significant silver and gold production. However, the study is at a preliminary stage, includes inferred resources, and faces geopolitical and ownership risks in Bolivia. The resource update shows substantial indicated and inferred resources.
Positive factors
- Strong post-tax NPV and IRR
- Fast payback period
- Low open pit strip ratio
- Significant silver and gold production
- Community agreement signed
Negative factors
- Preliminary Economic Assessment level study
- Reliance on Inferred Mineral Resources
- Unresolved ownership of some mining concessions
- Political and social instability risks in Bolivia
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 53
Classification and evidence
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: A current resource fact retains the disclosed cut-off grade
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("concentrator")
Extracted facts
Stored fact records: 52. Some facts used in scoring do not have a stored record.
Resource Estimates (48)
indicatedCarangas · silverTonnes: 121600000Contained Metal: 272.4Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:253fdb1ca1c644e6fb0e
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 121600000
- Contained Metal
- 272.4
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 70
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone shows a substantial indicated resource with a high silver equivalent grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Large indicated resource tonnage
- High silver equivalent grade
Evidence · table
“70”
Context: 121.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 121.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · silverTonnes: 121600000Grade: 44Grade Unit: g/tContained Metal: 173.9Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:253fdb1ca1c644e6fb0e
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 121600000
- Grade
- 44
- Grade Unit
- g/t
- Contained Metal
- 173.9
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 70
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone shows a substantial indicated resource with a high silver grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Large indicated resource tonnage
- High silver grade
Evidence · table
“44”
Context: 121.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 121.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · goldTonnes: 121600000Grade: 0.06Grade Unit: g/tContained Metal: 220Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:253fdb1ca1c644e6fb0e
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 121600000
- Grade
- 0.06
- Grade Unit
- g/t
- Contained Metal
- 220
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 70
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a low gold grade in the indicated resource, suggesting it is a byproduct rather than a primary target in this zone.
Positive factors
- Indicated resource
Negative factors
- Low gold grade
Evidence · table
“0.06”
Context: 121.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 121.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: The gold grade of 0.06 g/t is very low, indicating it is a byproduct in this silver-focused zone.
Evidence · table
“0.06”
Context: 121.6
indicatedCarangas · leadTonnes: 121600000Grade: 0.34Grade Unit: %Contained Metal: 923.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:253fdb1ca1c644e6fb0e
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 121600000
- Grade
- 0.34
- Grade Unit
- %
- Contained Metal
- 923.3
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 70
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a moderate lead grade in the indicated resource, contributing to the polymetallic nature of the deposit.
Positive factors
- Indicated resource
Evidence · table
“0.34”
Context: 121.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 121.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in this silver-focused zone.
Evidence · table
“0.34”
Context: 121.6
indicatedCarangas · zincTonnes: 121600000Grade: 0.65Grade Unit: %Contained Metal: 1729.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:253fdb1ca1c644e6fb0e
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 121600000
- Grade
- 0.65
- Grade Unit
- %
- Contained Metal
- 1729.6
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 70
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a moderate zinc grade in the indicated resource, contributing to the polymetallic nature of the deposit.
Positive factors
- Indicated resource
Evidence · table
“0.65”
Context: 121.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 121.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Zinc is present as a secondary commodity in this silver-focused zone.
Evidence · table
“0.65”
Context: 121.6
inferredCarangas · silverTonnes: 33600000Contained Metal: 72.9Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a5f82a64f9c18560f9f1
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 33600000
- Contained Metal
- 72.9
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 67
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a significant inferred resource with a high silver equivalent grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Significant inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“67”
Context: 33.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 33.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 33600000Grade: 42Grade Unit: g/tContained Metal: 45.9Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a5f82a64f9c18560f9f1
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 33600000
- Grade
- 42
- Grade Unit
- g/t
- Contained Metal
- 45.9
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 67
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a significant inferred resource with a high silver grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Significant inferred resource tonnage
- High silver grade
Negative factors
- Inferred resource category
Evidence · table
“42”
Context: 33.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 33.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · goldTonnes: 33600000Grade: 0.11Grade Unit: g/tContained Metal: 119.6Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a5f82a64f9c18560f9f1
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 33600000
- Grade
- 0.11
- Grade Unit
- g/t
- Contained Metal
- 119.6
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 67
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a low gold grade in the inferred resource, suggesting it is a byproduct and requires further drilling to improve confidence.
Positive factors
- Inferred resource
Negative factors
- Low gold grade
- Inferred resource category
Evidence · table
“0.11”
Context: 33.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 33.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: The gold grade of 0.11 g/t is very low, indicating it is a byproduct in this silver-focused zone.
Evidence · table
“0.11”
Context: 33.6
inferredCarangas · leadTonnes: 33600000Grade: 0.29Grade Unit: %Contained Metal: 211.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a5f82a64f9c18560f9f1
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 33600000
- Grade
- 0.29
- Grade Unit
- %
- Contained Metal
- 211.6
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 67
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a moderate lead grade in the inferred resource, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource
Negative factors
- Inferred resource category
Evidence · table
“0.29”
Context: 33.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 33.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in this silver-focused zone.
Evidence · table
“0.29”
Context: 33.6
inferredCarangas · zincTonnes: 33600000Grade: 0.48Grade Unit: %Contained Metal: 357.6Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a5f82a64f9c18560f9f1
- Deposit or zone
- Upper Silver Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 33600000
- Grade
- 0.48
- Grade Unit
- %
- Contained Metal
- 357.6
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 67
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Upper Silver Zone contains a moderate zinc grade in the inferred resource, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource
Negative factors
- Inferred resource category
Evidence · table
“0.48”
Context: 33.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 33.6
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Zinc is present as a secondary commodity in this silver-focused zone.
Evidence · table
“0.48”
Context: 33.6
indicatedCarangas · silverTonnes: 38700000Contained Metal: 51.3Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:65f4f25ac7ad794099e2
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 38700000
- Contained Metal
- 51.3
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 41
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone shows a substantial indicated resource with a moderate silver equivalent grade, contributing to the project's overall scale and confidence.
Positive factors
- Significant indicated resource tonnage
- Moderate silver equivalent grade
Evidence · table
“41”
Context: 38.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 38.7
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · silverTonnes: 38700000Grade: 12Grade Unit: g/tContained Metal: 15.1Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:65f4f25ac7ad794099e2
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 38700000
- Grade
- 12
- Grade Unit
- g/t
- Contained Metal
- 15.1
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 41
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains a moderate silver grade in the indicated resource, contributing to the polymetallic nature of the deposit.
Positive factors
- Indicated resource
Negative factors
- Moderate silver grade
Evidence · table
“12”
Context: 38.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 38.7
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Silver is present as a secondary commodity in this zinc-focused zone.
Evidence · table
“12”
Context: 38.7
indicatedCarangas · goldTonnes: 38700000Grade: 0.06Grade Unit: g/tContained Metal: 68.8Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:65f4f25ac7ad794099e2
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 38700000
- Grade
- 0.06
- Grade Unit
- g/t
- Contained Metal
- 68.8
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 41
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains a low gold grade in the indicated resource, suggesting it is a byproduct rather than a primary target in this zone.
Positive factors
- Indicated resource
Negative factors
- Low gold grade
Evidence · table
“0.06”
Context: 38.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 38.7
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: The gold grade of 0.06 g/t is very low, indicating it is a byproduct in this zinc-focused zone.
Evidence · table
“0.06”
Context: 38.7
indicatedCarangas · leadTonnes: 38700000Grade: 0.37Grade Unit: %Contained Metal: 314.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:65f4f25ac7ad794099e2
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 38700000
- Grade
- 0.37
- Grade Unit
- %
- Contained Metal
- 314.1
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 41
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains a moderate lead grade in the indicated resource, contributing to the polymetallic nature of the deposit.
Positive factors
- Indicated resource
Evidence · table
“0.37”
Context: 38.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 38.7
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in this zinc-focused zone.
Evidence · table
“0.37”
Context: 38.7
indicatedCarangas · zincTonnes: 38700000Grade: 0.81Grade Unit: %Contained Metal: 688Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:65f4f25ac7ad794099e2
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 38700000
- Grade
- 0.81
- Grade Unit
- %
- Contained Metal
- 688
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 41
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone shows a substantial indicated resource with a moderate zinc grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Significant indicated resource tonnage
- Moderate zinc grade
Evidence · table
“0.81”
Context: 38.7
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 38.7
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 9100000Contained Metal: 11.5Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:c86671f0c215d3692c75
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 9100000
- Contained Metal
- 11.5
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 39
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains an inferred resource with a moderate silver equivalent grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource tonnage
- Moderate silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“39”
Context: 9.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 9.1
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 9100000Grade: 9Grade Unit: g/tContained Metal: 2.6Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:c86671f0c215d3692c75
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 9100000
- Grade
- 9
- Grade Unit
- g/t
- Contained Metal
- 2.6
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 39
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains an inferred resource with a moderate silver grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource
Negative factors
- Inferred resource category
Evidence · table
“9”
Context: 9.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 9.1
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Silver is present as a secondary commodity in this zinc-focused zone.
Evidence · table
“9”
Context: 9.1
inferredCarangas · goldTonnes: 9100000Grade: 0.05Grade Unit: g/tContained Metal: 15.3Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:c86671f0c215d3692c75
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 9100000
- Grade
- 0.05
- Grade Unit
- g/t
- Contained Metal
- 15.3
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 39
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains a low gold grade in the inferred resource, suggesting it is a byproduct and requires further drilling to improve confidence.
Positive factors
- Inferred resource
Negative factors
- Low gold grade
- Inferred resource category
Evidence · table
“0.05”
Context: 9.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 9.1
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: The gold grade of 0.05 g/t is very low, indicating it is a byproduct in this zinc-focused zone.
Evidence · table
“0.05”
Context: 9.1
inferredCarangas · leadTonnes: 9100000Grade: 0.38Grade Unit: %Contained Metal: 77.1Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:c86671f0c215d3692c75
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 9100000
- Grade
- 0.38
- Grade Unit
- %
- Contained Metal
- 77.1
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 39
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains a moderate lead grade in the inferred resource, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource
Negative factors
- Inferred resource category
Evidence · table
“0.38”
Context: 9.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 9.1
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in this zinc-focused zone.
Evidence · table
“0.38”
Context: 9.1
inferredCarangas · zincTonnes: 9100000Grade: 0.85Grade Unit: %Contained Metal: 172.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:c86671f0c215d3692c75
- Deposit or zone
- Middle Zinc Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 9100000
- Grade
- 0.85
- Grade Unit
- %
- Contained Metal
- 172.2
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 39
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Middle Zinc Zone contains an inferred resource with a moderate zinc grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource tonnage
- Moderate zinc grade
Negative factors
- Inferred resource category
Evidence · table
“0.85”
Context: 9.1
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 9.1
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · silverTonnes: 78400000Contained Metal: 205.9Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:9a4f28bac55148c90b7d
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 78400000
- Contained Metal
- 205.9
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 82
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone shows a substantial indicated resource with a high silver equivalent grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Significant indicated resource tonnage
- High silver equivalent grade
Evidence · table
“82”
Context: 78.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 78.4
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · silverTonnes: 78400000Grade: 10Grade Unit: g/tContained Metal: 24.4Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:9a4f28bac55148c90b7d
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 78400000
- Grade
- 10
- Grade Unit
- g/t
- Contained Metal
- 24.4
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 82
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains a moderate silver grade in the indicated resource, contributing to the polymetallic nature of the deposit.
Positive factors
- Indicated resource
Negative factors
- Moderate silver grade
Evidence · table
“10”
Context: 78.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 78.4
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Silver is present as a secondary commodity in this gold-focused zone.
Evidence · table
“10”
Context: 78.4
indicatedCarangas · goldTonnes: 78400000Grade: 0.76Grade Unit: g/tContained Metal: 1911.7Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:9a4f28bac55148c90b7d
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 78400000
- Grade
- 0.76
- Grade Unit
- g/t
- Contained Metal
- 1911.7
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 82
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone shows a substantial indicated resource with a moderate gold grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Significant indicated resource tonnage
- Moderate gold grade
Evidence · table
“0.76”
Context: 78.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 78.4
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · leadTonnes: 78400000Grade: 0.12Grade Unit: %Contained Metal: 215Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:9a4f28bac55148c90b7d
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 78400000
- Grade
- 0.12
- Grade Unit
- %
- Contained Metal
- 215
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 82
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains a low lead grade in the indicated resource, suggesting it is a byproduct rather than a primary target in this zone.
Positive factors
- Indicated resource
Negative factors
- Low lead grade
Evidence · table
“0.12”
Context: 78.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 78.4
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in this gold-focused zone.
Evidence · table
“0.12”
Context: 78.4
indicatedCarangas · zincTonnes: 78400000Grade: 0.23Grade Unit: %Contained Metal: 403.8Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:9a4f28bac55148c90b7d
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 78400000
- Grade
- 0.23
- Grade Unit
- %
- Contained Metal
- 403.8
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 82
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains a low zinc grade in the indicated resource, suggesting it is a byproduct rather than a primary target in this zone.
Positive factors
- Indicated resource
Negative factors
- Low zinc grade
Evidence · table
“0.23”
Context: 78.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 78.4
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Zinc is present as a secondary commodity in this gold-focused zone.
Evidence · table
“0.23”
Context: 78.4
inferredCarangas · silverTonnes: 11000000Contained Metal: 28.3Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:64213e9f34aab46a2d41
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Contained Metal
- 28.3
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains an inferred resource with a high silver equivalent grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“80”
Context: 11.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 11.0
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 11000000Grade: 10Grade Unit: g/tContained Metal: 3.6Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:64213e9f34aab46a2d41
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 10
- Grade Unit
- g/t
- Contained Metal
- 3.6
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains an inferred resource with a moderate silver grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource
Negative factors
- Inferred resource category
Evidence · table
“10”
Context: 11.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 11.0
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Silver is present as a secondary commodity in this gold-focused zone.
Evidence · table
“10”
Context: 11.0
inferredCarangas · goldTonnes: 11000000Grade: 0.7Grade Unit: g/tContained Metal: 248.5Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:64213e9f34aab46a2d41
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 0.7
- Grade Unit
- g/t
- Contained Metal
- 248.5
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains an inferred resource with a moderate gold grade, indicating potential for future conversion to higher confidence categories.
Positive factors
- Inferred resource tonnage
- Moderate gold grade
Negative factors
- Inferred resource category
Evidence · table
“0.70”
Context: 11.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 11.0
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · leadTonnes: 11000000Grade: 0.15Grade Unit: %Contained Metal: 36.2Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:64213e9f34aab46a2d41
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 0.15
- Grade Unit
- %
- Contained Metal
- 36.2
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains a low lead grade in the inferred resource, suggesting it is a byproduct and requires further drilling to improve confidence.
Positive factors
- Inferred resource
Negative factors
- Low lead grade
- Inferred resource category
Evidence · table
“0.15”
Context: 11.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 11.0
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in this gold-focused zone.
Evidence · table
“0.15”
Context: 11.0
inferredCarangas · zincTonnes: 11000000Grade: 0.34Grade Unit: %Contained Metal: 82.4Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:64213e9f34aab46a2d41
- Deposit or zone
- Lower Gold Zone
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 0.34
- Grade Unit
- %
- Contained Metal
- 82.4
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 80
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The Lower Gold Zone contains a low zinc grade in the inferred resource, suggesting it is a byproduct and requires further drilling to improve confidence.
Positive factors
- Inferred resource
Negative factors
- Low zinc grade
- Inferred resource category
Evidence · table
“0.34”
Context: 11.0
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 11.0
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Zinc is present as a secondary commodity in this gold-focused zone.
Evidence · table
“0.34”
Context: 11.0
indicatedCarangas · silverTonnes: 238800000Contained Metal: 529.6Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:efbdaa4ddb43c678a245
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Contained Metal
- 529.6
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 69
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project is very large with a high silver equivalent grade, providing a strong foundation for future development.
Positive factors
- Very large indicated resource tonnage
- High silver equivalent grade
Evidence · table
“69”
Context: 238.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · silverTonnes: 238800000Grade: 28Grade Unit: g/tContained Metal: 213.4Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:efbdaa4ddb43c678a245
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 28
- Grade Unit
- g/t
- Contained Metal
- 213.4
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project includes a substantial silver grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Very large indicated resource tonnage
- High silver grade
Evidence · table
“28”
Context: 238.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · goldTonnes: 238800000Grade: 0.29Grade Unit: g/tContained Metal: 2200.5Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:efbdaa4ddb43c678a245
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 0.29
- Grade Unit
- g/t
- Contained Metal
- 2200.5
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project includes a moderate gold grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Very large indicated resource tonnage
- Moderate gold grade
Evidence · table
“0.29”
Context: 238.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · leadTonnes: 238800000Grade: 0.28Grade Unit: %Contained Metal: 1452.4Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:efbdaa4ddb43c678a245
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 0.28
- Grade Unit
- %
- Contained Metal
- 1452.4
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project includes a moderate lead grade, contributing to the polymetallic nature of the deposit.
Positive factors
- Very large indicated resource tonnage
Evidence · table
“0.28”
Context: 238.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Rejected tags
Rejected tags — excluded from scoring because their label or evidence could not be verified.
Byproduct CommodityRejected · neutral · Story-specific tag
The tested commodity is a byproduct rather than the primary economic driver.
Reason: Lead is present as a secondary commodity in the overall indicated resource.
Evidence · table
“0.28”
Context: 238.8
indicatedCarangas · zincTonnes: 238800000Grade: 0.54Grade Unit: %Contained Metal: 2821.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:efbdaa4ddb43c678a245
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 0.54
- Grade Unit
- %
- Contained Metal
- 2821.3
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project includes a moderate zinc grade, contributing significantly to the project's overall scale and confidence.
Positive factors
- Very large indicated resource tonnage
- Moderate zinc grade
Evidence · table
“0.54”
Context: 238.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The resource is classified as Indicated, indicating reasonable geological confidence.
Evidence · table
“Indicated”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 53800000Contained Metal: 112.7Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a6421de02a946ae21c0a
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Contained Metal
- 112.7
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 65
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project is large with a high silver equivalent grade, indicating significant potential for future conversion to higher confidence categories.
Positive factors
- Large inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“65”
Context: 53.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 53800000Grade: 30Grade Unit: g/tContained Metal: 52.1Contained Unit: mozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a6421de02a946ae21c0a
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 30
- Grade Unit
- g/t
- Contained Metal
- 52.1
- Contained Unit
- mozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project includes a substantial silver grade, indicating significant potential for future conversion to higher confidence categories.
Positive factors
- Large inferred resource tonnage
- High silver grade
Negative factors
- Inferred resource category
Evidence · table
“30”
Context: 53.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · goldTonnes: 53800000Grade: 0.22Grade Unit: g/tContained Metal: 383.4Contained Unit: kozsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a6421de02a946ae21c0a
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 0.22
- Grade Unit
- g/t
- Contained Metal
- 383.4
- Contained Unit
- kozs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project includes a moderate gold grade, indicating significant potential for future conversion to higher confidence categories.
Positive factors
- Large inferred resource tonnage
- Moderate gold grade
Negative factors
- Inferred resource category
Evidence · table
“0.22”
Context: 53.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · leadTonnes: 53800000Grade: 0.27Grade Unit: %Contained Metal: 324.9Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a6421de02a946ae21c0a
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 0.27
- Grade Unit
- %
- Contained Metal
- 324.9
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project includes a moderate lead grade, indicating significant potential for future conversion to higher confidence categories.
Positive factors
- Large inferred resource tonnage
Negative factors
- Inferred resource category
Evidence · table
“0.27”
Context: 53.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · zincTonnes: 53800000Grade: 0.52Grade Unit: %Contained Metal: 612.3Contained Unit: mlbsView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:a6421de02a946ae21c0a
- Deposit or zone
- Total
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 0.52
- Grade Unit
- %
- Contained Metal
- 612.3
- Contained Unit
- mlbs
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project includes a moderate zinc grade, indicating significant potential for future conversion to higher confidence categories.
Positive factors
- Large inferred resource tonnage
- Moderate zinc grade
Negative factors
- Inferred resource category
Evidence · table
“0.52”
Context: 53.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The resource is classified as Inferred, indicating lower geological confidence.
Evidence · table
“Inferred”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · silverTonnes: 238800000Grade: 28Grade Unit: g/tView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:f0a4c620d1ca9ad4653e
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 28
- Grade Unit
- g/t
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 69
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project is very large with a high silver equivalent grade, providing a strong foundation for future development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Very large indicated resource tonnage
- High silver equivalent grade
Evidence · table
“28”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · goldTonnes: 238800000Grade: 0.29Grade Unit: g/tView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:f0a4c620d1ca9ad4653e
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 0.29
- Grade Unit
- g/t
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 69
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project is very large with a high silver equivalent grade, providing a strong foundation for future development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Very large indicated resource tonnage
- High silver equivalent grade
Evidence · table
“0.29”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · leadTonnes: 238800000Grade: 0.28Grade Unit: %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:f0a4c620d1ca9ad4653e
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 0.28
- Grade Unit
- %
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 69
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project is very large with a high silver equivalent grade, providing a strong foundation for future development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Very large indicated resource tonnage
- High silver equivalent grade
Evidence · table
“0.28”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
indicatedCarangas · zincTonnes: 238800000Grade: 0.54Grade Unit: %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:f0a4c620d1ca9ad4653e
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 238800000
- Grade
- 0.54
- Grade Unit
- %
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 69
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total indicated resource for the Carangas project is very large with a high silver equivalent grade, providing a strong foundation for future development. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Very large indicated resource tonnage
- High silver equivalent grade
Evidence · table
“0.54”
Context: 238.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · silverTonnes: 53800000Grade: 30Grade Unit: g/tView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:dd259c730f15da310c22
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 30
- Grade Unit
- g/t
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 65
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project is large with a high silver equivalent grade, indicating significant potential for future conversion to higher confidence categories. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“30”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · goldTonnes: 53800000Grade: 0.22Grade Unit: g/tView all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:dd259c730f15da310c22
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 0.22
- Grade Unit
- g/t
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 65
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project is large with a high silver equivalent grade, indicating significant potential for future conversion to higher confidence categories. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“0.22”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · leadTonnes: 53800000Grade: 0.27Grade Unit: %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:dd259c730f15da310c22
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 0.27
- Grade Unit
- %
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 65
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project is large with a high silver equivalent grade, indicating significant potential for future conversion to higher confidence categories. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“0.27”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
inferredCarangas · zincTonnes: 53800000Grade: 0.52Grade Unit: %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Resource scope
- Estimate type
- resource
- Effective date
- 2026-03-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Anderson Candido
- Resource group id
- resource:dd259c730f15da310c22
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 53800000
- Grade
- 0.52
- Grade Unit
- %
- Cutoff Grade
- 30
- Cutoff Unit
- g/t AgEq
Prior Estimate
- Resource Date
- 2026-03-31
Metal Equivalent
- Metal Eq. Grade
- 65
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The total inferred resource for the Carangas project is large with a high silver equivalent grade, indicating significant potential for future conversion to higher confidence categories. (Expanded from multi-commodity resource table for completeness.)
Positive factors
- Large inferred resource tonnage
- High silver equivalent grade
Negative factors
- Inferred resource category
Evidence · table
“0.52”
Context: 53.8
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
Metallurgical Results (4)
cyanide leachingCarangas · silverRecovery: 60 %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- silver
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Test Work
- Program Status
- detailed
- Test Type
- cyanide leaching
- Processing Route
- cyanide leaching, counter-current decantation, Merril-Crowe, and smelting
Recovery
- Recovery
- 60 %
- Recovery Basis
- to_payable_metal
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The silver recovery to gold/silver doré of 60.0% is a moderate result, indicating some silver is recovered in the gold circuit.
Positive factors
- Moderate silver recovery
Evidence · table
“60.0”
Context: Silver Recovery to Gold/Silver Dore
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing involves cyanide leaching and associated circuits.
Evidence · text
“gold circuit (including cyanide leaching, counter-current decantation, Merril-Crowe, and smelting)”
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: Silver is a primary commodity, but this specific recovery is for the gold doré, making it a byproduct in this circuit.
Evidence · text
“195 million oz ("Moz") of payable Ag”
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 60% is below the weak band (75%)
flotationCarangas · leadRecovery: 71.5 %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- lead
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- selective sequential flotation
Recovery
- Recovery
- 71.5 %
- Recovery Basis
- to_concentrate
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The lead recovery to silver/lead concentrate of 71.5% is a moderate result for flotation, contributing to the overall metal recovery.
Positive factors
- Moderate lead recovery to concentrate
Evidence · table
“71.5”
Context: Lead Recovery to Silver/Lead Concentrate
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing involves a flotation circuit to produce concentrates.
Evidence · text
“selective sequential flotation to produce a lead/silver concentrate and a zinc/silver concentrate”
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: Lead is a secondary commodity in the project, and its recovery contributes to overall economics.
Evidence · text
“941 Mlbs of payable Pb”
flotationCarangas · zincRecovery: 62.1 %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- zinc
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- selective sequential flotation
Recovery
- Recovery
- 62.1 %
- Recovery Basis
- to_concentrate
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The zinc recovery to zinc concentrate of 62.1% is a moderate result for flotation, contributing to the overall metal recovery.
Positive factors
- Moderate zinc recovery to concentrate
Evidence · table
“62.1”
Context: Zinc Recovery to Zinc Concentrate
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing involves a flotation circuit to produce concentrates.
Evidence · text
“selective sequential flotation to produce a lead/silver concentrate and a zinc/silver concentrate”
Byproduct Commodityneutral
The tested commodity is a byproduct rather than the primary economic driver.
Why it applies: Zinc is a secondary commodity in the project, and its recovery contributes to overall economics.
Evidence · text
“1,453 million pounds ("Mlbs") of payable Zn”
cyanide leachingCarangas · goldRecovery: 93 %View all detailsHide details
Identity
- Project
- Carangas
- Commodity
- gold
- Region
- bolivia
- Reported Region
- Oruro Department, Bolivia
- Ticker
- NUAG
Test Work
- Program Status
- detailed
- Test Type
- cyanide leaching
- Processing Route
- cyanide leaching, counter-current decantation, Merril-Crowe, and smelting
Recovery
- Recovery
- 93 %
- Recovery Basis
- to_payable_metal
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-07-16T00:00:00.000Z
Reasoning: The gold recovery to gold/silver doré of 93.0% is a strong result for cyanide leaching, indicating efficient gold extraction.
Positive factors
- High gold recovery
Evidence · table
“93.0”
Context: Gold Recovery to Gold/Silver Dore
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing involves cyanide leaching and associated circuits.
Evidence · text
“gold circuit (including cyanide leaching, counter-current decantation, Merril-Crowe, and smelting)”
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.