Pan American Announces Revised PEA for the La Colorada Skarn Project, Positions La Colorada as a Future Top-tier Silver Mine
Original announcement by tmx on
- Company
- Pan American Silver Corp.
- Ticker
- PAAS
- Exchange
- TSX
- Region
- Mexico
- Primary commodity
- Silver
- Secondary commodities
- Zinc, Lead, Gold
- Document categories
- Resource update, Economic study, Metallurgy
- Extracted
- 2026-09-18 15:03:17 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Pan American Silver announced a Revised Preliminary Economic Assessment (PEA) for its La Colorada Skarn Project in Mexico, projecting strong economics and positioning it as a future top-tier silver mine. The PEA outlines an after-tax NPV (5%) of $2.6 billion and an IRR of 17% at base case prices, with a 4-year payback period. The project envisions a 37-year mine life, significantly increasing silver production and utilizing conventional long-hole open stoping and a new 15,000 tpd flotation plant, supported by high metallurgical recoveries for silver, zinc, and lead.
Reasoning: Pan American Silver announced a highly positive Revised PEA for its La Colorada Skarn Project, projecting strong economics, increased silver production, and extended mine life. The study outlines a robust financial case with a 17% IRR and $2.6 billion NPV (5% after-tax) at base case prices, supported by high metallurgical recoveries and a substantial resource base. While the PEA's reliance on inferred resources introduces some geological uncertainty, the overall outlook is very strong for the company's future production profile.
Positive factors
- Revised PEA shows strong economics with high NPV and IRR for the La Colorada Skarn Project.
- Significant increase in silver production and extended mine life, positioning it as a top-tier silver mine.
- Low AISC for silver, reflecting strong byproduct credits.
- Fast payback period for initial capital.
- Improved grades compared to prior PEA due to selective mining.
- Conventional mining method (long-hole open stoping) reduces technical risk.
- Metallurgical testwork demonstrates high recoveries for silver, zinc, and lead into high-quality concentrates.
- Substantial resource base, including significant indicated and inferred resources for both skarn and vein deposits.
Negative factors
- The PEA includes inferred mineral resources, which are considered geologically speculative and do not have demonstrated economic viability.
- The PEA is preliminary in nature and there is no certainty it will be realized.
- The resource estimate for the skarn deposit uses a sub-level caving (SLC) mining method for RPEEE, while the PEA uses long-hole open stoping, which could imply a disconnect in resource definition vs. mine plan.
Facts used in scoring: 37
Classification and evidence
PEA Onlyneutral
Only Class 4 / Initial Assessment economics available. Not bankable.
Why it applies: The document presents a Preliminary Economic Assessment (PEA), which is an early-stage economic study.
Evidence · text
“results of a revised Preliminary Economic Assessment ("Revised PEA")”
Inferred Heavy Feednegative
Material Inferred share of LOM mill feed, or the share is undisclosed.
Why it applies: The Revised PEA explicitly states it includes inferred mineral resources, which are geologically speculative.
Evidence · text
“it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves”
High IRRpositive
Post-tax real unlevered IRR in the strong tier or better.
Why it applies: The after-tax IRR of 17% for the base case and 25% for the upside case are in the strong to exceptional tiers.
Evidence · table
“17%”
Context: IRR (After-tax)
Fast Paybackpositive
Payback in the strong tier or better, on the required basis.
Why it applies: The payback period of 4 years for the base case and 3 years for the upside case are in the strong to exceptional tiers.
Evidence · table
“4”
Context: Pay-back period (After-tax, undiscounted) in years
Conservative Pricingpositive
Conservative on the worst of the spot, 3-year and consensus comparisons.
Why it applies: The resource estimate uses significantly lower silver prices ($22/oz and $24/oz) compared to the PEA base case price of $45/oz, indicating conservatism in the resource model.
Evidence · text
“The mineral resource estimate reported effective as at June 30, 2025 and mine plan were completed at metal prices of $22.00/oz of silver, $2,800/t of zinc and $2,200/t of lead for the skarn deposit, and for the La Colorada vein mine at $24.00/oz of silver, $2,800/t of zinc and $2,200/t of lead.”
Long Reserve Lifepositive
Reserve life index in the top tier of the single ladder.
Why it applies: The La Colorada Skarn Project has a projected mine life of 37 years, which is in the top tier.
Evidence · table
“37”
Context: Production life - years
Fully Fundedpositive
Funding coverage at or above 1.0x counting committed facilities only.
Why it applies: Pan American expects to fully fund the project through cash flow from operating mines.
Evidence · text
“Pan American currently expects to fully fund the La Colorada Skarn Project through cash flow generated by Pan American's operating mines”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Revised PEA and resource estimates were prepared in accordance with NI 43-101 standards.
Evidence · text
“The Revised PEA for the La Colorada Skarn Project was prepared in accordance with NI 43-101 standards.”
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: Qualified Persons Christopher Emerson, Christopher Wright, and Martin Wafforn are named as responsible for the technical information.
Evidence · text
“Technical information contained in this news release has been reviewed and approved by Christopher Emerson, FAusIMM, Senior Vice President Exploration and Geology, and Martin Wafforn, P.Eng., Senior Vice President Technical Services and Process Optimization, each of whom is a Qualified Person for the purposes of NI 43-101.”
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Overall silver recovery is estimated at 89.7%, zinc at 93.4%, and lead at 87.7%, which are strong to exceptional for flotation.
Evidence · text
“Overall silver recovery is estimated at approximately 89.7%... LOM average recoveries are estimated to be approximately 93.4% for zinc and 87.7% for lead.”
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: The processing method involves a conventional selective flotation plant.
Evidence · text
“conventional selective flotation plant”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: The PEA considers both vein and skarn mineralization, indicating testing across different ore types.
Evidence · text
“commingling vein (2,000 tpd) and high-grade skarn mineralization (13,000 tpd)”
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
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The source explicitly discloses a revised resource estimate
Evidence · text
“updated mineral resource estimate”
Single Domain Onlynegative
Testing limited to one composite or domain — representativeness not established.
Why it applies: only one composite was tested
Extracted facts
Stored fact records: 37. Some facts used in scoring do not have a stored record.
Resource Estimates (34)
indicatedLa Colorada Skarn Project · zincTonnes: 265400000Grade: 7.6Grade Unit: million tonnesContained Metal: 7.6Contained Unit: mtView all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:d0ea0a8359bf947c1700
- Deposit or zone
- Skarn
- Mining method
- other
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 265400000
- Grade
- 7.6
- Grade Unit
- million tonnes
- Contained Metal
- 7.6
- Contained Unit
- mt
- Cutoff Grade
- 50
- Cutoff Unit
- USD/t NSR
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a substantial indicated resource for zinc, providing a strong foundation for the project. The estimate is recent and compliant with NI 43-101, enhancing confidence.
Positive factors
- Large indicated resource tonnage.
- Good zinc grade for a skarn deposit.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“7.6”
Context: 265.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: 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
indicatedLa Colorada Skarn Project · leadTonnes: 265400000Grade: 3.6Grade Unit: million tonnesContained Metal: 3.6Contained Unit: mtView all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:d0ea0a8359bf947c1700
- Deposit or zone
- Skarn
- Mining method
- other
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 265400000
- Grade
- 3.6
- Grade Unit
- million tonnes
- Contained Metal
- 3.6
- Contained Unit
- mt
- Cutoff Grade
- 50
- Cutoff Unit
- USD/t NSR
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: The indicated resource for lead is significant, contributing to the polymetallic nature of the deposit. The estimate is recent and compliant with NI 43-101.
Positive factors
- Large indicated resource tonnage.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“3.6”
Context: 265.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: 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
indicatedLa Colorada Skarn Project · silverTonnes: 265400000Grade: 309Grade Unit: million ouncesContained Metal: 309Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:d0ea0a8359bf947c1700
- Deposit or zone
- Skarn
- Mining method
- other
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 265400000
- Grade
- 309
- Grade Unit
- million ounces
- Contained Metal
- 309
- Contained Unit
- moz
- Cutoff Grade
- 50
- Cutoff Unit
- USD/t NSR
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a very large indicated silver resource, forming a key part of the project's value proposition. The estimate is recent and compliant with NI 43-101, providing high confidence.
Positive factors
- Large indicated resource tonnage.
- Significant contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“309”
Context: 265.4
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: 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
inferredLa Colorada Skarn Project · zincTonnes: 61700000Grade: 1.6Grade Unit: million tonnesContained Metal: 1.6Contained Unit: mtView all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:f5f7c75a7e9f4d905928
- Deposit or zone
- Skarn
- Mining method
- other
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 61700000
- Grade
- 1.6
- Grade Unit
- million tonnes
- Contained Metal
- 1.6
- Contained Unit
- mt
- Cutoff Grade
- 50
- Cutoff Unit
- USD/t NSR
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred resource for zinc adds to the overall potential of the project, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant inferred resource tonnage.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“1.6”
Context: 61.7
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
inferredLa Colorada Skarn Project · leadTonnes: 61700000Grade: 0.6Grade Unit: million tonnesContained Metal: 0.6Contained Unit: mtView all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:f5f7c75a7e9f4d905928
- Deposit or zone
- Skarn
- Mining method
- other
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 61700000
- Grade
- 0.6
- Grade Unit
- million tonnes
- Contained Metal
- 0.6
- Contained Unit
- mt
- Cutoff Grade
- 50
- Cutoff Unit
- USD/t NSR
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred resource for lead contributes to the overall polymetallic potential, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant inferred resource tonnage.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“0.6”
Context: 61.7
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
inferredLa Colorada Skarn Project · silverTonnes: 61700000Grade: 59Grade Unit: million ouncesContained Metal: 59Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:f5f7c75a7e9f4d905928
- Deposit or zone
- Skarn
- Mining method
- other
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 61700000
- Grade
- 59
- Grade Unit
- million ounces
- Contained Metal
- 59
- Contained Unit
- moz
- Cutoff Grade
- 50
- Cutoff Unit
- USD/t NSR
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred silver resource adds to the overall potential of the project, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant inferred contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“59”
Context: 61.7
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
provenLa Colorada Vein Mine · silverTonnes: 3400000Grade: 33.2Grade Unit: million ouncesContained Metal: 33.2Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:0d6efc869e39d341171c
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 3400000
- Grade
- 33.2
- Grade Unit
- million ounces
- Contained Metal
- 33.2
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence proven reserve for silver, indicating a well-defined and economically viable portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade proven reserve for silver.
- Significant contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“33.2”
Context: 3.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
provenLa Colorada Vein Mine · goldTonnes: 3400000Grade: 23Grade Unit: thousand ouncesContained Metal: 23Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:0d6efc869e39d341171c
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 3400000
- Grade
- 23
- Grade Unit
- thousand ounces
- Contained Metal
- 23
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This proven reserve for gold, while lower grade, adds to the overall value of the vein mine as a byproduct. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in proven reserves.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“23”
Context: 3.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
provenLa Colorada Vein Mine · leadTonnes: 3400000Grade: 42Grade Unit: thousand tonnesContained Metal: 42Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:0d6efc869e39d341171c
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 3400000
- Grade
- 42
- Grade Unit
- thousand tonnes
- Contained Metal
- 42
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This proven reserve for lead contributes to the polymetallic nature and overall value of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in proven reserves.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“42”
Context: 3.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
provenLa Colorada Vein Mine · zincTonnes: 3400000Grade: 75Grade Unit: thousand tonnesContained Metal: 75Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:0d6efc869e39d341171c
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- proven
- Tonnes
- 3400000
- Grade
- 75
- Grade Unit
- thousand tonnes
- Contained Metal
- 75
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence proven reserve for zinc, indicating a well-defined and economically viable portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade proven reserve for zinc.
- Significant contained zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“75”
Context: 3.4
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · silverTonnes: 6100000Grade: 57.5Grade Unit: million ouncesContained Metal: 57.5Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a78f491d56ba958f75e2
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 6100000
- Grade
- 57.5
- Grade Unit
- million ounces
- Contained Metal
- 57.5
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence probable reserve for silver, indicating a well-defined and economically viable portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade probable reserve for silver.
- Significant contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“57.5”
Context: 6.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · goldTonnes: 6100000Grade: 40Grade Unit: thousand ouncesContained Metal: 40Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a78f491d56ba958f75e2
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 6100000
- Grade
- 40
- Grade Unit
- thousand ounces
- Contained Metal
- 40
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This probable reserve for gold, while lower grade, adds to the overall value of the vein mine as a byproduct. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in probable reserves.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“40”
Context: 6.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · leadTonnes: 6100000Grade: 73Grade Unit: thousand tonnesContained Metal: 73Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a78f491d56ba958f75e2
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 6100000
- Grade
- 73
- Grade Unit
- thousand tonnes
- Contained Metal
- 73
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This probable reserve for lead contributes to the polymetallic nature and overall value of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in probable reserves.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“73”
Context: 6.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · zincTonnes: 6100000Grade: 134Grade Unit: thousand tonnesContained Metal: 134Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a78f491d56ba958f75e2
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 6100000
- Grade
- 134
- Grade Unit
- thousand tonnes
- Contained Metal
- 134
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence probable reserve for zinc, indicating a well-defined and economically viable portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade probable reserve for zinc.
- Significant contained zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“134”
Context: 6.1
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · silverTonnes: 9500000Grade: 90.7Grade Unit: million ouncesContained Metal: 90.7Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:692e51e5e55c4e831af5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 9500000
- Grade
- 90.7
- Grade Unit
- million ounces
- Contained Metal
- 90.7
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence proven & probable reserve for silver, indicating a well-defined and economically viable portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade proven & probable reserve for silver.
- Significant contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“90.7”
Context: 9.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · goldTonnes: 9500000Grade: 64Grade Unit: thousand ouncesContained Metal: 64Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:692e51e5e55c4e831af5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 9500000
- Grade
- 64
- Grade Unit
- thousand ounces
- Contained Metal
- 64
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This proven & probable reserve for gold, while lower grade, adds to the overall value of the vein mine as a byproduct. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in proven & probable reserves.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“64”
Context: 9.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · leadTonnes: 9500000Grade: 115Grade Unit: thousand tonnesContained Metal: 115Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:692e51e5e55c4e831af5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 9500000
- Grade
- 115
- Grade Unit
- thousand tonnes
- Contained Metal
- 115
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This proven & probable reserve for lead contributes to the polymetallic nature and overall value of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in proven & probable reserves.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“115”
Context: 9.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableLa Colorada Vein Mine · zincTonnes: 9500000Grade: 208Grade Unit: thousand tonnesContained Metal: 208Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:692e51e5e55c4e831af5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- probable
- Tonnes
- 9500000
- Grade
- 208
- Grade Unit
- thousand tonnes
- Contained Metal
- 208
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence proven & probable reserve for zinc, indicating a well-defined and economically viable portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade proven & probable reserve for zinc.
- Significant contained zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“208”
Context: 9.5
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredLa Colorada Vein Mine · silverTonnes: 400000Grade: 3Grade Unit: million ouncesContained Metal: 3Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a9ff23e5337d0a5626e5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 400000
- Grade
- 3
- Grade Unit
- million ounces
- Contained Metal
- 3
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence measured resource for silver, indicating a well-defined portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade measured resource for silver.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“3.0”
Context: 0.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredLa Colorada Vein Mine · goldTonnes: 400000Grade: 2Grade Unit: thousand ouncesContained Metal: 2Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a9ff23e5337d0a5626e5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 400000
- Grade
- 2
- Grade Unit
- thousand ounces
- Contained Metal
- 2
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This measured resource for gold, while lower grade, adds to the overall value of the vein mine as a byproduct. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in measured resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“2”
Context: 0.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredLa Colorada Vein Mine · leadTonnes: 400000Grade: 4Grade Unit: thousand tonnesContained Metal: 4Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a9ff23e5337d0a5626e5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 400000
- Grade
- 4
- Grade Unit
- thousand tonnes
- Contained Metal
- 4
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This measured resource for lead contributes to the polymetallic nature and overall value of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in measured resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“4”
Context: 0.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredLa Colorada Vein Mine · zincTonnes: 400000Grade: 6Grade Unit: thousand tonnesContained Metal: 6Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:a9ff23e5337d0a5626e5
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- measured
- Tonnes
- 400000
- Grade
- 6
- Grade Unit
- thousand tonnes
- Contained Metal
- 6
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence measured resource for zinc, indicating a well-defined portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade measured resource for zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“6”
Context: 0.4
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · silverTonnes: 2600000Grade: 11.8Grade Unit: million ouncesContained Metal: 11.8Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:7494e7fbfebce038ab58
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2600000
- Grade
- 11.8
- Grade Unit
- million ounces
- Contained Metal
- 11.8
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence indicated resource for silver, indicating a well-defined portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade indicated resource for silver.
- Significant contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“11.8”
Context: 2.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · goldTonnes: 2600000Grade: 29Grade Unit: thousand ouncesContained Metal: 29Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:7494e7fbfebce038ab58
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2600000
- Grade
- 29
- Grade Unit
- thousand ounces
- Contained Metal
- 29
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This indicated resource for gold, while lower grade, adds to the overall value of the vein mine as a byproduct. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in indicated resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“29”
Context: 2.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · leadTonnes: 2600000Grade: 17Grade Unit: thousand tonnesContained Metal: 17Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:7494e7fbfebce038ab58
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2600000
- Grade
- 17
- Grade Unit
- thousand tonnes
- Contained Metal
- 17
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This indicated resource for lead contributes to the polymetallic nature and overall value of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in indicated resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“17”
Context: 2.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · zincTonnes: 2600000Grade: 29Grade Unit: thousand tonnesContained Metal: 29Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:7494e7fbfebce038ab58
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 2600000
- Grade
- 29
- Grade Unit
- thousand tonnes
- Contained Metal
- 29
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence indicated resource for zinc, indicating a well-defined portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade indicated resource for zinc.
- Significant contained zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“29”
Context: 2.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · silverTonnes: 3000000Grade: 14.8Grade Unit: million ouncesContained Metal: 14.8Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6db43175b5453dae52d6
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 3000000
- Grade
- 14.8
- Grade Unit
- million ounces
- Contained Metal
- 14.8
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence measured & indicated resource for silver, indicating a well-defined portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade measured & indicated resource for silver.
- Significant contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“14.8”
Context: 3.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · goldTonnes: 3000000Grade: 30Grade Unit: thousand ouncesContained Metal: 30Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6db43175b5453dae52d6
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 3000000
- Grade
- 30
- Grade Unit
- thousand ounces
- Contained Metal
- 30
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This measured & indicated resource for gold, while lower grade, adds to the overall value of the vein mine as a byproduct. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in measured & indicated resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“30”
Context: 3.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · leadTonnes: 3000000Grade: 21Grade Unit: thousand tonnesContained Metal: 21Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6db43175b5453dae52d6
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 3000000
- Grade
- 21
- Grade Unit
- thousand tonnes
- Contained Metal
- 21
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This measured & indicated resource for lead contributes to the polymetallic nature and overall value of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in measured & indicated resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“21”
Context: 3.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedLa Colorada Vein Mine · zincTonnes: 3000000Grade: 36Grade Unit: thousand tonnesContained Metal: 36Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6db43175b5453dae52d6
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 3000000
- Grade
- 36
- Grade Unit
- thousand tonnes
- Contained Metal
- 36
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This is a high-confidence measured & indicated resource for zinc, indicating a well-defined portion of the vein mine. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade measured & indicated resource for zinc.
- Significant contained zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Evidence · table
“36”
Context: 3.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLa Colorada Vein Mine · silverTonnes: 15300000Grade: 146.5Grade Unit: million ouncesContained Metal: 146.5Contained Unit: mozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6cfff492678a5f02d5c7
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 15300000
- Grade
- 146.5
- Grade Unit
- million ounces
- Contained Metal
- 146.5
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred silver resource adds to the overall potential of the vein mine, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant inferred contained silver ounces.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“146.5”
Context: 15.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLa Colorada Vein Mine · goldTonnes: 15300000Grade: 132Grade Unit: thousand ouncesContained Metal: 132Contained Unit: kozView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- gold
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6cfff492678a5f02d5c7
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 15300000
- Grade
- 132
- Grade Unit
- thousand ounces
- Contained Metal
- 132
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred resource for gold adds to the overall potential of the vein mine as a byproduct, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- Gold as a byproduct in inferred resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“132”
Context: 15.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLa Colorada Vein Mine · leadTonnes: 15300000Grade: 295Grade Unit: thousand tonnesContained Metal: 295Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6cfff492678a5f02d5c7
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 15300000
- Grade
- 295
- Grade Unit
- thousand tonnes
- Contained Metal
- 295
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred resource for lead contributes to the polymetallic nature and overall potential of the vein mine, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- Significant contained lead in inferred resources.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“295”
Context: 15.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredLa Colorada Vein Mine · zincTonnes: 15300000Grade: 520Grade Unit: thousand tonnesContained Metal: 520Contained Unit: ktView all detailsHide details
Identity
- Project
- La Colorada Vein Mine
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-06-30T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Christopher Emerson, Christopher Wright, Martin Wafforn
- Resource group id
- resource:6cfff492678a5f02d5c7
- Deposit or zone
- Vein
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 15300000
- Grade
- 520
- Grade Unit
- thousand tonnes
- Contained Metal
- 520
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: This inferred resource for zinc adds to the overall potential of the vein mine, but its lower confidence category means it requires further drilling to upgrade. The estimate is recent and compliant with NI 43-101.
Positive factors
- High-grade inferred resource for zinc.
- Significant contained zinc.
- QP signed off on the estimate.
- NI 43-101 compliant.
Negative factors
- Inferred category has lower geological confidence.
Evidence · table
“520”
Context: 15.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Metallurgical Results (3)
flotationLa Colorada Skarn Project · silverRecovery: 89.7 %View all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- silver
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- conventional selective flotation
- Sample
- skarn mineralization
Recovery
- Recovery
- 89.7 %
- Recovery Basis
- actual_test
- Conc. Grade
- 1800
- Conc. Grade Unit
- g/t
Reagents
- Reagent Notes
- low levels of impurities and deleterious elements
Lab
- Laboratory
- SGS of Durango, Activation Laboratories Ltd, Bureau Veritas, ALS Global
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: Metallurgical testing shows excellent silver recovery into high-quality concentrates, which is a strong positive for project economics and marketability.
Positive factors
- High silver recovery for flotation.
- High-grade silver in lead concentrate.
- Low impurities in concentrates.
Evidence · text
“Overall silver recovery is estimated at approximately 89.7% with the majority, 77.8%, reporting to the lead concentrate and approximately 11.9% reporting to the zinc concentrate.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
flotationLa Colorada Skarn Project · zincRecovery: 93.4 %View all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- zinc
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- conventional selective flotation
- Sample
- skarn mineralization
Recovery
- Recovery
- 93.4 %
- Recovery Basis
- actual_test
- Conc. Grade
- 59
- Conc. Grade Unit
- %
Reagents
- Reagent Notes
- low levels of impurities and deleterious elements
Lab
- Laboratory
- SGS of Durango, Activation Laboratories Ltd, Bureau Veritas, ALS Global
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: Metallurgical testing shows excellent zinc recovery into high-quality concentrates, which is a strong positive for project economics and marketability.
Positive factors
- Exceptional zinc recovery for flotation.
- High-grade zinc in concentrate.
- Low impurities in concentrates.
Evidence · text
“LOM average recoveries are estimated to be approximately 93.4% for zinc”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
flotationLa Colorada Skarn Project · leadRecovery: 87.7 %View all detailsHide details
Identity
- Project
- La Colorada Skarn Project
- Commodity
- lead
- Region
- mexico
- Reported Region
- Mexico
- Ticker
- PAAS
Test Work
- Program Status
- detailed
- Test Type
- flotation
- Processing Route
- conventional selective flotation
- Sample
- skarn mineralization
Recovery
- Recovery
- 87.7 %
- Recovery Basis
- actual_test
- Conc. Grade
- 61
- Conc. Grade Unit
- %
Reagents
- Reagent Notes
- low levels of impurities and deleterious elements
Lab
- Laboratory
- SGS of Durango, Activation Laboratories Ltd, Bureau Veritas, ALS Global
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-03-24T00:00:00.000Z
Reasoning: Metallurgical testing shows excellent lead recovery into high-quality concentrates, which is a strong positive for project economics and marketability.
Positive factors
- High lead recovery for flotation.
- High-grade lead in concentrate.
- Low impurities in concentrates.
Evidence · text
“LOM average recoveries are estimated to be approximately 87.7% for lead.”
Tags used in scoring
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: processing_route matches the flotation signal
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.