Silver47 Launches Drilling to Target Depth Extensions of High-Grade Silver at Mogollon Silver-Gold Project, New Mexico
Original announcement by tmx on
- Company
- Silver47 Exploration Corp.
- Ticker
- AGA
- Exchange
- TSX
- Region
- New Mexico
- Primary commodity
- Silver
- Secondary commodities
- Gold
- Document categories
- Resource update, Drill results, Other
- Extracted
- 2026-09-13 11:17:59 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Silver47 has launched a winter drilling program at the Mogollon Project in New Mexico, targeting depth extensions of high-grade silver-gold mineralization on the Last Chance Vein. The program aims to test potential beneath historical ore shoots to expand the existing Inferred Mineral Resource.
Reasoning: The announcement marks the commencement of a drilling program rather than reporting new assay results. It focuses on the strategic intent to test depth extensions of a known high-grade system.
Positive factors
- targeting high-grade depth extensions
- large historical production context
- significant cash reserve of $55M
Negative factors
- no new assay results reported in this release
Facts used in scoring: 2
Classification and evidence
Inferred Resourcenegative · Story-specific tag
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The existing resource mentioned is entirely in the Inferred category.
Evidence · text
“outside the current Inferred Mineral Resource”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Resource Estimates (2)
inferredMogollon Project · silverTonnes: 2720000Grade: 139Grade Unit: g/tContained Metal: 12.12Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mogollon Project
- Commodity
- silver
- Region
- mexico
- Reported Region
- New Mexico
- Ticker
- AGA
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Galen McNamara
- Resource group id
- resource:73d991f66e6ebc0785ce
- Deposit or zone
- Mogollon Project
- Resource basis
- attributable
Resource Data
- Category
- inferred
- Tonnes
- 2720000
- Grade
- 139
- Grade Unit
- g/t
- Contained Metal
- 12.12
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2024-11-22
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-11-22T00:00:00.000Z
Dates
- Event date
- 2026-01-21T00:00:00.000Z
Reasoning: This is a restatement of the existing resource to provide context for the new drilling program.
Positive factors
- large silver equivalent tonnage
- high grade
Negative factors
- entirely inferred category
Evidence · text
“Inferred Mineral Resource of 32.08 Moz silver equivalent (12.12 Moz silver and 0.24 Moz gold) at 367 g/t silver equivalent* (139 g/t silver and 2.72 g/t gold) over 2.72 Mt”
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
inferredMogollon Project · goldTonnes: 2720000Grade: 2.72Grade Unit: g/tContained Metal: 0.24Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mogollon Project
- Commodity
- gold
- Region
- mexico
- Reported Region
- New Mexico
- Ticker
- AGA
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Galen McNamara
- Resource group id
- resource:73d991f66e6ebc0785ce
- Deposit or zone
- Mogollon Project
- Resource basis
- attributable
Resource Data
- Category
- inferred
- Tonnes
- 2720000
- Grade
- 2.72
- Grade Unit
- g/t
- Contained Metal
- 0.24
- Contained Unit
- moz
Prior Estimate
- Resource Date
- 2024-11-22
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2025-11-22T00:00:00.000Z
Dates
- Event date
- 2026-01-21T00:00:00.000Z
Reasoning: Restatement of gold component of the existing inferred resource.
Positive factors
- significant gold credits
Evidence · text
“Inferred Mineral Resource of 32.08 Moz silver equivalent (12.12 Moz silver and 0.24 Moz gold) at 367 g/t silver equivalent* (139 g/t silver and 2.72 g/t gold) over 2.72 Mt”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.