# Aftermath Silver Launches Berenguela Pre-Feasibility Study

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d

Original source: https://money.tmx.com/en/quote/AAG/news/5585735912279349/aftermath-silver-launches-berenguela-pre-feasibility-study

Publisher: tmx

Original announcement: 2026-02-12T13:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Aftermath Silver Ltd.

- Ticker: AAG

- Exchange: TSX

- Region: southern Peru

- Primary commodity: Silver

- Secondary commodities: Copper, Manganese, Zinc

- Document categories: Resource update, Other

- Extracted: 2026-08-24 07:16:48 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Aftermath Silver has commenced a Pre-Feasibility Study \(PFS\) for its Berenguela silver-copper-manganese project in Peru. The decision follows an infill drilling program and an updated Mineral Resource Estimate that confirmed significant silver, copper, and manganese resources.

Reasoning: The announcement marks a major project milestone \(PFS commencement\) based on a recently updated resource estimate.

- Positive factor: Advancement to Pre-Feasibility Study \(PFS\) stage

- Positive factor: High-confidence resource base with significant M&I components

- Positive factor: QP/CP sign-off provided by AusIMM Fellow

- Positive factor: Robust silver and copper mineralization confirmed

- Negative factor: Resource is a restatement of the December 4, 2025 release

Facts used in scoring: 16

## Classification and evidence

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The announcement provides an updated Mineral Resource Estimate for the Berenguela project.

Evidence · text

> The updated Mineral Resource Estimate \(See Aftermath news release dated December 4, 2025\) materially improved confidence

**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: Michael Parker, a Fellow of the AusIMM, is named as the Qualified Person who reviewed and approved the technical content.

Evidence · text

> Qualified Person Michael Parker, a Fellow of the AusIMM

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The release explicitly mentions compliance with NI 43-101 standards and the filing of a Technical Report.

Evidence · text

> as defined by NI 43-101

## Extracted facts

Stored fact records: 16. Some facts used in scoring do not have a stored record.

## Resource Estimates (16)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-0)

silver

#### Identity

- Commodity: silver
- Ticker: AAG

#### Resource Data

- Category: measured
- Tonnes: 8490000
- Grade: 101
- Grade Unit: g/t
- Contained Metal: 27.7
- Contained Unit: Moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Measured silver resource component.

Evidence · table

> 101

Context: 8.49

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-1)

manganese

#### Identity

- Commodity: manganese
- Ticker: AAG

#### Resource Data

- Category: measured
- Tonnes: 8490000
- Grade: 8.97
- Grade Unit: %
- Contained Metal: 0.76
- Contained Unit: Mt

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Measured manganese resource component.

Evidence · table

> 8.97

Context: 8.49

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-2)

copper

#### Identity

- Commodity: copper
- Ticker: AAG

#### Resource Data

- Category: measured
- Tonnes: 8490000
- Grade: 0.89
- Grade Unit: %
- Contained Metal: 166.9
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Measured copper resource component.

Evidence · table

> 0.89

Context: 8.49

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-3)

zinc

#### Identity

- Commodity: zinc
- Ticker: AAG

#### Resource Data

- Category: measured
- Tonnes: 8490000
- Grade: 0.32
- Grade Unit: %
- Contained Metal: 60
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Measured zinc resource component.

Evidence · table

> 0.32

Context: 8.49

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-4)

silver

#### Identity

- Commodity: silver
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 43060000
- Grade: 68.5
- Grade Unit: g/t
- Contained Metal: 94.9
- Contained Unit: Moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated silver resource component.

Evidence · table

> 68.5

Context: 43.06

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-5)

manganese

#### Identity

- Commodity: manganese
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 43060000
- Grade: 5.04
- Grade Unit: %
- Contained Metal: 2.17
- Contained Unit: Mt

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated manganese resource component.

Evidence · table

> 5.04

Context: 43.06

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-6)

copper

#### Identity

- Commodity: copper
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 43060000
- Grade: 0.58
- Grade Unit: %
- Contained Metal: 550.2
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated copper resource component.

Evidence · table

> 0.58

Context: 43.06

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-7)

zinc

#### Identity

- Commodity: zinc
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 43060000
- Grade: 0.33
- Grade Unit: %
- Contained Metal: 312.5
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated zinc resource component.

Evidence · table

> 0.33

Context: 43.06

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-8)

silver

#### Identity

- Commodity: silver
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 51550000
- Grade: 73.9
- Grade Unit: g/t
- Contained Metal: 122.5
- Contained Unit: Moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated silver resource component \(M&I\).

Evidence · table

> 73.9

Context: 51.55

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-9)

manganese

#### Identity

- Commodity: manganese
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 51550000
- Grade: 5.69
- Grade Unit: %
- Contained Metal: 2.93
- Contained Unit: Mt

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated manganese resource component \(M&I\).

Evidence · table

> 5.69

Context: 51.55

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-10)

copper

#### Identity

- Commodity: copper
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 51550000
- Grade: 0.63
- Grade Unit: %
- Contained Metal: 717.1
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated copper resource component \(M&I\).

Evidence · table

> 0.63

Context: 51.55

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-11)

zinc

#### Identity

- Commodity: zinc
- Ticker: AAG

#### Resource Data

- Category: indicated
- Tonnes: 51550000
- Grade: 0.33
- Grade Unit: %
- Contained Metal: 372.4
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Indicated zinc resource component \(M&I\).

Evidence · table

> 0.33

Context: 51.55

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-12)

silver

#### Identity

- Commodity: silver
- Ticker: AAG

#### Resource Data

- Category: inferred
- Tonnes: 14330000
- Grade: 47.6
- Grade Unit: g/t
- Contained Metal: 22
- Contained Unit: Moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Inferred silver resource component.

Evidence · table

> 47.6

Context: 14.33

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-13)

manganese

#### Identity

- Commodity: manganese
- Ticker: AAG

#### Resource Data

- Category: inferred
- Tonnes: 14330000
- Grade: 3.28
- Grade Unit: %
- Contained Metal: 0.47
- Contained Unit: Mt

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Inferred manganese resource component.

Evidence · table

> 3.28

Context: 14.33

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-14)

copper

#### Identity

- Commodity: copper
- Ticker: AAG

#### Resource Data

- Category: inferred
- Tonnes: 14330000
- Grade: 0.37
- Grade Unit: %
- Contained Metal: 118.4
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Inferred copper resource component.

Evidence · table

> 0.37

Context: 14.33

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/aftermath-silver-launches-berenguela-pre-feasibility-study--d47b8cd7-b8a4-440b-b476-ab6a6e527c7d#fact-resource-facts-15)

zinc

#### Identity

- Commodity: zinc
- Ticker: AAG

#### Resource Data

- Category: inferred
- Tonnes: 14330000
- Grade: 0.25
- Grade Unit: %
- Contained Metal: 80
- Contained Unit: Mlb

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-12T00:00:00.000Z

Reasoning: Inferred zinc resource component.

Evidence · table

> 0.25

Context: 14.33

## 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.