# Southern Empire Pursues the Suaqui Verde Copper Deposit in northwestern M&\#xE9;xico Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a Original source: https://money.tmx.com/en/quote/SMP/news/8411199319735476/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi Publisher: tmx Original announcement: 2023-08-28T12:35:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Southern Empire Resources Corp. - Ticker: SMP - Exchange: TSX - Region: northwestern México - Primary commodity: Copper - Secondary commodities: None reported - Document categories: Resource update, Agreement transaction, Metallurgy - Extracted: 2026-09-16 23:09:06 UTC Narrative sentiment: 0.10 · Bullish ## Minestarters Atlas summary Southern Empire Resources Corp. has entered into an agreement to acquire up to a 100% interest in the Suaqui Verde Copper Project in northwestern México. The project contains a historical open pit mineral resource estimate from 2008, which is not compliant with current NI 43-101 standards. Historical metallurgical test work suggests the copper mineralization is amenable to heap leaching or in-situ leaching with SX-EW processing. Reasoning: Southern Empire is acquiring an option for a copper project in Mexico with a historical resource estimate. The acquisition terms are clear and represent a new opportunity for the company, but the resource data is old and not compliant with current standards, requiring significant future work to validate. - Positive factor: Acquisition of a copper project in a mining-friendly jurisdiction - Positive factor: Clear path to 100% ownership through staged option agreement - Positive factor: Historical resource estimate provides a baseline for future exploration - Negative factor: Resource estimate is historical and not compliant with current reporting standards - Negative factor: No QP has done sufficient work to classify the historical estimate as current - Negative factor: Metallurgical test work is historical and lacks specific recovery data Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 26 ## Classification and evidence **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: the document describes a heap\_leach route \("heap leach"\) **Theoretical Recovery Only** Polarity: negative Definition: Only theoretical or liberation-derived recovery reported, with no actual test result. Why it applies: The disclosure includes a theoretical recovery figure, distinct from actual test results ## Extracted facts Stored fact records: 21. Some facts used in scoring do not have a stored record. ## Resource Estimates (19) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-0) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:f03bf72235ae5133675b - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 22370000 - Grade: 0.362 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 22,370 Context: 0.30 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-1) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:d5dc6c8ccb119d17346d - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 1603000 - Grade: 0.375 - Grade Unit: % - Cutoff Grade: 0.3 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 1,603 Context: 0.30 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-2) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:f142d86a30b535838202 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 31194000 - Grade: 0.341 - Grade Unit: % - Cutoff Grade: 0.28 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 31,194 Context: 0.28 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-3) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:82429a6a2e39d8a48816 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 1916000 - Grade: 0.361 - Grade Unit: % - Cutoff Grade: 0.28 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 1,916 Context: 0.28 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-4) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:089ff7adee2f530cb61b - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 43534000 - Grade: 0.321 - Grade Unit: % - Cutoff Grade: 0.26 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 43,534 Context: 0.26 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-5) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:749699f033499ed26ac5 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 2497000 - Grade: 0.34 - Grade Unit: % - Cutoff Grade: 0.26 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 2,497 Context: 0.26 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-6) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:57fd533ebc6c693ce0d4 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 51261000 - Grade: 0.311 - Grade Unit: % - Cutoff Grade: 0.25 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 51,261 Context: 0.25 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-7) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:de0a3eb43965cf2ec52d - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 2921000 - Grade: 0.328 - Grade Unit: % - Cutoff Grade: 0.25 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 2,921 Context: 0.25 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-8) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:cf1124fea63f69f1a91c - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 59699000 - Grade: 0.301 - Grade Unit: % - Cutoff Grade: 0.24 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 59,699 Context: 0.24 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-9) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:0d4ab829c9f91f06e40f - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 3281000 - Grade: 0.318 - Grade Unit: % - Cutoff Grade: 0.24 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 3,281 Context: 0.24 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-10) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:48039108b97c93887caf - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 80070000 - Grade: 0.281 - Grade Unit: % - Cutoff Grade: 0.22 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 80,070 Context: 0.22 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-11) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:a397798008b5c21a84c1 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 3996000 - Grade: 0.302 - Grade Unit: % - Cutoff Grade: 0.22 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 3,996 Context: 0.22 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-12) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:23fb7118ed56a1fd1b55 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 106159000 - Grade: 0.265 - Grade Unit: % - Cutoff Grade: 0.2 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 106,159 Context: 0.20 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-13) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:0b1372c8a99a6229c1b8 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 5113000 - Grade: 0.282 - Grade Unit: % - Cutoff Grade: 0.2 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 5,113 Context: 0.20 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-14) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:85f2c2ba648578eaf686 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 153035000 - Grade: 0.238 - Grade Unit: % - Cutoff Grade: 0.15 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 153,035 Context: 0.15 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-15) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:d99ebeaa1ccef3d0938d - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 8603000 - Grade: 0.239 - Grade Unit: % - Cutoff Grade: 0.15 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 8,603 Context: 0.15 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-16) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:bbe2983cb90ed59aab51 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: indicated - Tonnes: 160053000 - Grade: 0.234 - Grade Unit: % - Cutoff Grade: 0.1 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical indicated resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource Evidence · table > 160,053 Context: 0.10 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-17) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2008-06-10T00:00:00.000Z - Reporting standards: other - QP Signed: No - Resource group id: resource:53d18ed02f4a35a5c794 - Deposit or zone: Suaqui Verde - Mining method: open\_pit - Material type: oxide #### Resource Data - Category: inferred - Tonnes: 10575000 - Grade: 0.217 - Grade Unit: % - Cutoff Grade: 0.1 - Cutoff Unit: % #### Prior Estimate - Resource Date: 2008-06-10 #### Location - Loc. Confidence: medium #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2008-06-10T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate from 2008, not compliant with current standards, providing a baseline but requiring verification. - Negative factor: Historical estimate only - Negative factor: Not NI 43-101 compliant - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · table > 10,575 Context: 0.10 #### 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 15.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-resource-facts-25) Oro Cruz Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Oro Cruz Project - Commodity: gold - Region: imperial county, california - Reported Region: Imperial County, California - Ticker: SMP #### Resource scope - Estimate type: resource - Effective date: 2011-04-29T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: No - Resource group id: resource:10982c9f0d3b991cf7de #### Resource Data - Category: inferred - Tonnes: 4386000 - Grade: 2.2 - Grade Unit: g/t - Contained Metal: 341800 - Contained Unit: oz - Cutoff Grade: 0.68 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2011-04-29 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2011-04-29T00:00:00.000Z #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical inferred resource estimate for the Oro Cruz Project from 2011, compliant with NI 43-101 but not verified as current by a QP. - Negative factor: Historical estimate only - Negative factor: No QP sign-off for current resource - Negative factor: Inferred resource category Evidence · text > totalling 341,800 ounces gold based on 4,386,000 tonnes averaging 2.2 grams gold per tonne at a cut-off grade of 0.68 g/t Au #### 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 **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 12.3 years before this release ## Metallurgical Results (2) ### unspecified [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-metallurgical-facts-23) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Test Work - Program Status: scoping - Test Type: unspecified - Processing Route: heap leach and SX-EW #### Recovery - Recovery Basis: theoretical #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical metallurgical test work suggests amenability to heap leach and SX-EW, but lacks specific recovery data, limiting its current utility. - Positive factor: Indication of potential processing routes - Negative factor: No specific recovery percentages - Negative factor: Historical test work only - Negative factor: Theoretical basis for recovery Evidence · text > Historical metallurgical test work indicates that Suaqui Verde copper mineralization should be amenable to either conventional open pit mining and heap leach copper extraction, or alternatively, in-situ leaching. If either of these operational methods were to be implemented, they would produce a copper-enriched solution from which high-purity cathode copper could subsequently be produced by SX-EW \(solvent extraction-electrowinning\) processing. #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal **Theoretical Recovery Only** Polarity: negative Definition: Only theoretical or liberation-derived recovery reported, with no actual test result. Why it applies: recovery\_basis is theoretical ### unspecified [Link to this fact](https://atlas-extractions.minestarters.com/news/southern-empire-pursues-the-suaqui-verde-copper-deposit-in-northwestern-m-xe9-xi--a3555dae-59da-443a-8511-02d91abb798a#fact-metallurgical-facts-24) Suaqui Verde Copper Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Suaqui Verde Copper Project - Commodity: copper - Region: northwestern méxico - Reported Region: northwestern México - Ticker: SMP #### Test Work - Program Status: scoping - Test Type: unspecified - Processing Route: in-situ leaching and SX-EW #### Recovery - Recovery Basis: theoretical #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2023-08-28T00:00:00.000Z Reasoning: Historical metallurgical test work suggests amenability to in-situ leaching and SX-EW, but lacks specific recovery data, limiting its current utility. - Positive factor: Indication of potential processing routes - Negative factor: No specific recovery percentages - Negative factor: Historical test work only - Negative factor: Theoretical basis for recovery Evidence · text > Historical metallurgical test work indicates that Suaqui Verde copper mineralization should be amenable to either conventional open pit mining and heap leach copper extraction, or alternatively, in-situ leaching. If either of these operational methods were to be implemented, they would produce a copper-enriched solution from which high-purity cathode copper could subsequently be produced by SX-EW \(solvent extraction-electrowinning\) processing. #### Tags used in scoring **Theoretical Recovery Only** Polarity: negative Definition: Only theoretical or liberation-derived recovery reported, with no actual test result. Why it applies: recovery\_basis is theoretical ## 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.