# Silver X Increases Measured and Indicated Resources 173% to 10.4 Mt at 213 g/t AgEq \(70.8 Moz AgEq\) and Inferred Resources 43% to 21.6 Mt at 252 g/t AgEq \(180.9 Moz AgEq\) Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f Original source: https://orestocks.com/company/AGX.V/press-releases/8561209077214225 Publisher: orestocks Original announcement: 2026-09-22T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: SILVER X MINING CORP. - Ticker: AGX.V - Exchange: Unavailable - Region: Huancavelica, Peru - Primary commodity: Silver - Secondary commodities: Gold, Copper, Lead, Zinc - Document categories: Resource update, Economic study - Extracted: 2026-09-22 12:45:40 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Silver X Mining Corp. announced a substantial update to its Mineral Resource Estimate for the Nueva Recuperada Project in Peru, effective August 31, 2026. Measured and Indicated resources increased by 173% to 10.4 Mt at 213 g/t AgEq \(70.8 Moz AgEq\), while Inferred resources grew by 43% to 21.6 Mt at 252 g/t AgEq \(180.9 Moz AgEq\). This upgrade significantly boosts the geological confidence of the 2025 Preliminary Economic Assessment \(PEA\) mining inventory, with 85% now in the M&I categories, up from 31%, reinforcing the project's strong economics \(NPV5% of $439M, IRR of 69%\). Reasoning: Silver X announced a significant update to its Mineral Resource Estimate for the Nueva Recuperada Project, nearly tripling Measured and Indicated silver ounces and substantially increasing Inferred resources. This update significantly de-risks the project by increasing the M&I portion of the 2025 PEA mining inventory from 31% to 85%, reinforcing the strong economics of the preliminary study. The discovery of a new bulk tonnage resource and high-grade zones further enhances the project's potential. - Positive factor: Significant increase in Measured and Indicated resources \(173% tonnage, 117% AgEq ounces\) - Positive factor: Substantial increase in Inferred resources \(43% tonnage\) - Positive factor: High-grade Red Silver unit contributing significantly to M&I silver ounces - Positive factor: Discovery of a new bulk tonnage resource \(Blenda Rubia\) amenable to lower-cost mining - Positive factor: Increased geological confidence for the 2025 PEA mining inventory \(from 31% to 85% M&I\) - Positive factor: Strong PEA economics \(69% IRR, $439M NPV5%\) reinforced by resource upgrade - Positive factor: Clear path for resource conversion and expansion with ongoing drill program and plant expansion - Negative factor: PEA is preliminary in nature and includes inferred resources, which are speculative - Negative factor: PEA economics are not updated by this news release, so the impact of the resource upgrade on the PEA metrics is not yet quantified Facts used in scoring: 8 ## Classification and evidence **Cut-off Disclosed** Polarity: positive Definition: 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 Update** Polarity: neutral Definition: 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 ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Resource Estimates (7) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-0) Nueva Recuperada Project · silver #### Identity - Project: Nueva Recuperada Project - Commodity: silver - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:58d01673fdd5fdab1309 - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 10400000 - Grade: 213 - Grade Unit: g/t - Contained Metal: 70.8 - Contained Unit: moz - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 - Prior Tonnes: 3800000 - Prior Contained Metal: 32.5 #### Metal Equivalent - Metal Eq. Grade: 213 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Measured and Indicated resource update shows a substantial increase in both tonnage and contained AgEq ounces, significantly de-risking the project and providing a strong base for future development and financing. - Positive factor: Significant increase in Measured and Indicated tonnage \(173%\) and AgEq ounces \(117%\) - Positive factor: High confidence category for mine planning and financing - Positive factor: Reinforces the economic viability of the project Evidence · text > Measured and Indicated resources now total 10.4 million tonnes containing 70.8 million ounces AgEq, including 41.8 million ounces of silver, nearly three times the tonnage of the previous estimate. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 10400000 against 3800000 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 70.8 against 32.5 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-1) Nueva Recuperada Project · silver #### Identity - Project: Nueva Recuperada Project - Commodity: silver - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:4b6534d15372fb635208 - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 21600000 - Grade: 252 - Grade Unit: g/t - Contained Metal: 180.9 - Contained Unit: moz - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 - Prior Tonnes: 15100000 #### Metal Equivalent - Metal Eq. Grade: 252 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Inferred resource update shows a substantial increase in tonnage and contained AgEq ounces, indicating significant long-term potential and exploration upside for the project, though these resources require further drilling for conversion to higher confidence categories. - Positive factor: Significant increase in Inferred tonnage \(43%\) and AgEq ounces - Positive factor: Provides substantial long-term growth potential and exploration upside - Negative factor: Inferred resources have lower geological confidence and cannot support economic studies alone Evidence · text > Inferred resources total 21.6 million tonnes containing 180.9 million ounces AgEq, including 120.1 million ounces of silver. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Tonnage Growth** Polarity: positive Definition: Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. Why it applies: 21600000 against 15100000 previously **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-2) Nueva Recuperada Project · silver #### Identity - Project: Nueva Recuperada Project - Commodity: silver - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:5c5988b9d2f6a10d7cb3 - Deposit or zone: Red Silver - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 517171 - Grade: 623 - Grade Unit: g/t - Contained Metal: 10.4 - Contained Unit: moz - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Red Silver mining unit hosts exceptionally high-grade Measured and Indicated silver resources, contributing significantly to the overall project's value and demonstrating strong potential for selective mining. - Positive factor: Very high silver grade \(623 g/t Ag\) for Measured and Indicated resources - Positive factor: Significant contained silver ounces \(10.4 Moz\) in a high-confidence category - Positive factor: Red Silver is identified as the highest-grade silver resource in the district Evidence · text > Red Silver, the highest-grade silver resource in the district: Measured and Indicated resources of 517,171 tonnes grading 20.03 oz/t silver \(623 g/t\) for 10.4 million ounces #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-3) Nueva Recuperada Project · silver #### Identity - Project: Nueva Recuperada Project - Commodity: silver - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:62a17e68f779492ebbe1 - Deposit or zone: Red Silver - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 3110000 - Grade: 532 - Grade Unit: g/t - Contained Metal: 53.2 - Contained Unit: moz - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Red Silver mining unit also hosts a large, high-grade Inferred silver resource, suggesting considerable potential for future resource growth and conversion to higher confidence categories with further drilling. - Positive factor: High silver grade \(532 g/t Ag\) for Inferred resources - Positive factor: Substantial contained silver ounces \(53.2 Moz\) in the Inferred category - Positive factor: Indicates significant exploration upside and potential for future conversion - Negative factor: Inferred resources have lower geological confidence Evidence · text > plus Inferred resources of 3.11 million tonnes grading 17.12 oz/t silver \(532 g/t\) for 53.2 million ounces. #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-4) Nueva Recuperada Project · silver #### Identity - Project: Nueva Recuperada Project - Commodity: silver - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:25fc29a7382831977214 - Deposit or zone: Blenda Rubia \(BR\) within Plata Mining Unit - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 5500000 - Contained Metal: 19.8 - Contained Unit: moz - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 #### Metal Equivalent - Metal Eq. Grade: 112 - Metal Eq. Unit: g/t AgEq - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The discovery of a new bulk tonnage resource at Blenda Rubia, classified as Indicated, provides a significant and potentially lower-cost mining opportunity, diversifying the Plata Mining Unit's operational profile. - Positive factor: New bulk tonnage resource in the Indicated category - Positive factor: Amenable to bulk underground mining, suggesting lower operating costs per tonne - Positive factor: Adds significant scale to the Plata Mining Unit Evidence · text > BR contains 5.5 million Indicated tonnes grading 112 g/t AgEq for 19.8 million ounces AgEq, in a body averaging more than 11 meters wide and amenable to bulk underground mining #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-5) Nueva Recuperada Project · lead #### Identity - Project: Nueva Recuperada Project - Commodity: lead - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:1b2d8ee8a1fb12c40847 - Mining method: underground #### Resource Data - Category: indicated - Contained Metal: 166263 - Contained Unit: t - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Measured and Indicated resources include a substantial amount of contained lead, providing valuable byproduct credits to the project economics. - Positive factor: Significant contained lead tonnes as a byproduct credit Evidence · text > Measured and Indicated resources contain 166,263 tonnes of lead and 175,590 tonnes of zinc. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-x-increases-measured-and-indicated-resources-173-to-10-4-mt-at-213-g-t-ag--f48a2084-c70b-49e0-8578-98413c89566f#fact-resource-facts-6) Nueva Recuperada Project · zinc #### Identity - Project: Nueva Recuperada Project - Commodity: zinc - Region: peru - Reported Region: Huancavelica, Peru - Ticker: AGX.V #### Resource scope - Estimate type: resource - Effective date: 2026-08-31T00:00:00.000Z - QP Signed: Yes - Qualified person names: A. David Heyl - Resource group id: resource:1b2d8ee8a1fb12c40847 - Mining method: underground #### Resource Data - Category: indicated - Contained Metal: 175590 - Contained Unit: t - Cutoff Grade: 60 - Cutoff Unit: US$/t #### Prior Estimate - Resource Date: 2026-08-31 #### Metal Equivalent - Assumptions Disclosed: Yes #### Lab - Laboratory: Bureau Veritas #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: The Measured and Indicated resources include a substantial amount of contained zinc, providing valuable byproduct credits to the project economics. - Positive factor: Significant contained zinc tonnes as a byproduct credit Evidence · text > Measured and Indicated resources contain 166,263 tonnes of lead and 175,590 tonnes of zinc. #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## 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.