Magma Silver Niñobamba Phase 1 Work Program Returns Significant Results Including 14.56g/mt Au and 10.59 oz/mt Ag
Original announcement by tmx on
- Company
- Magma Silver Corp.
- Ticker
- MGMA
- Exchange
- TSX
- Region
- Peru
- Primary commodity
- Silver
- Secondary commodities
- Gold
- Document categories
- Drill results, Other
- Extracted
- 2026-08-23 22:43:10 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Magma Silver reported Phase 1 results from its Niñobamba project in Peru, where geochemical sampling confirmed high-grade gold and silver anomalies. The results, including a 14.56 g/t Au and 10.59 oz/mt Ag sample, align with or exceed historical Newmont data.
Reasoning: Phase 1 geochemical sampling confirmed high-grade silver and gold anomalies, including a 10.59 oz/mt Ag sample, supporting the project's potential for upcoming drilling.
Positive factors
- High-grade surface samples
- Confirmation of historical Newmont results
- QA/QC protocols mentioned
Negative factors
- Results are primarily surface/geochemical sampling rather than drilling
- Historical Newmont data is non-compliant
Facts used in scoring: 4
Classification and evidence
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: Release mentions every tenth sample will be re-assayed at another independent lab for quality control.
Evidence · text
“every tenth sample will be re-assayed at another independent assay lab in Lima, Peru for quality control”
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: The current work program is designed to confirm historical Newmont results.
Evidence · text
“Phase 1 assays have confirmed or exceeded the historical Newmont Mining Corp. (" Newmont ") results.”
Extracted facts
Stored fact records: 4. Some facts used in scoring do not have a stored record.
Drill Results (4)
Fact 1Niñobamba · goldGrade: 14.56Grade Unit: g/mtView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 14.56
- Grade Unit
- g/mt
Classification
- Sample Type
- surface
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: High-grade gold sample reported in surface sampling.
Positive factors
- High grade
Evidence · text
“Results ranged from 0.50 g/mt to 14.56 g/mt Au”
Fact 2Niñobamba · silverGrade: 10.594Grade Unit: oz/mtView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 10.594
- Grade Unit
- oz/mt
Classification
- Sample Type
- surface
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: High-grade silver sample reported in surface sampling.
Positive factors
- High grade
Evidence · text
“0.604 oz/mt Ag to 10.594 oz/mt Ag”
JM1Jorimina · goldGrade: 1.19Grade Unit: g/tIntercept: 72.3 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- JM1
- Project
- Jorimina
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 1.19
- Grade Unit
- g/t
- Intercept
- 72.3 m
- From
- 53.1 m
- To
- 125.4 m
Classification
- Sample Type
- drill
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2010-01-01T00:00:00.000Z
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: Restatement of historical Newmont drilling results.
Negative factors
- Historical data
Evidence · text
“Hole JM1: from 53.1 to 125.4 (72.3m) 1.19 g/t gold”
JM1Jorimina · goldGrade: 1.07Grade Unit: g/tIntercept: 24.6 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- JM1
- Project
- Jorimina
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 1.07
- Grade Unit
- g/t
- Intercept
- 24.6 m
- From
- 184.75 m
- To
- 209.35 m
Classification
- Sample Type
- drill
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2010-01-01T00:00:00.000Z
Dates
- Event date
- 2025-09-18T00:00:00.000Z
Reasoning: Restatement of historical Newmont drilling results.
Negative factors
- Historical data
Evidence · text
“from 184.75 to 209.35 (24.6 m) 1.07 g/t of gold”
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.