Magma Silver Niñobamba Phase 2 Work Program Results
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 22:41:53 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Magma Silver reported Phase 2 work program results for the Niñobamba project in Peru, featuring high-grade silver and gold from drift and surface sampling. The results validate historical mineralization at the Joramina zone and support the design of an upcoming drill program.
Reasoning: The release reports high-grade silver and gold from drift and surface sampling, validating historical mineralization and supporting future drilling, though no new drill holes were reported.
Positive factors
- High-grade silver chip sample
- Validation of historical results
- QA/QC protocols disclosed
Negative factors
- Surface sampling only (no drilling reported in this release)
Facts used in scoring: 6
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 fire assay, independent lab, and re-assaying every 10th sample for quality control.
Evidence · text
“every 10th sample will be re-assayed at another independent assay lab in Lima, Peru, for quality control.”
Infill Drillingneutral
Confirmatory drilling to raise resource confidence, not new discovery.
Why it applies: The program was described as a continuation of Phase 1 to validate previous results.
Evidence · text
“The purpose of the exploration program was to validate the previous results”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Drill Results (6)
Fact 1Niñobamba · goldGrade: 2.32Grade Unit: g/tIntercept: 10 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 2.32
- Grade Unit
- g/t
- Intercept
- 10 m
Classification
- Sample Type
- drill
- Mining Method
- underground
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- check_assays
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: 10m at 2.32 g/t Au from drift sampling confirms gold presence in the Joramina zone.
Positive factors
- Validates historical results
Evidence · text
“two consecutive samples returning 10 metres of 2.32 grams Au/tonne”
Fact 2Niñobamba · silverGrade: 4.085Grade Unit: ounces Ag/tonneIntercept: 5 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 4.085
- Grade Unit
- ounces Ag/tonne
- Intercept
- 5 m
Classification
- Sample Type
- drill
- Mining Method
- underground
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- check_assays
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: 5m composite of 4.085 oz/t Ag from drift sampling is a strong silver result.
Positive factors
- High grade silver composite
Evidence · text
“5-metre composite returning 4.085 ounces Ag/tonne”
Fact 3Niñobamba · goldGrade: 17.41Grade Unit: g/tIntercept: 0.7 mView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 17.41
- Grade Unit
- g/t
- Intercept
- 0.7 m
Classification
- Sample Type
- surface
- Mining Method
- underground
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- check_assays
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: High grade 0.7m chip sample of 17.41 g/t Au demonstrates strong mineralization.
Positive factors
- High grade intercept
Evidence · text
“0.70 metres of 17.41 grams Au/tonne”
Fact 4Niñobamba · silverGrade: 13.94Grade Unit: ounces Ag/tonneIntercept: 0.7 mView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 13.94
- Grade Unit
- ounces Ag/tonne
- Intercept
- 0.7 m
Classification
- Sample Type
- surface
- Mining Method
- underground
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- check_assays
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: High grade 0.7m chip sample of 13.94 oz/t Ag demonstrates strong mineralization.
Positive factors
- High grade intercept
Evidence · text
“13.94 ounces Ag/tonne”
Fact 5Niñobamba · goldGrade: 0.2Grade Unit: g/tView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- gold
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 0.2
- Grade Unit
- g/t
Classification
- Sample Type
- surface
- Mining Method
- unknown
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- check_assays
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: Low grade gold from a random grab sample on the Randypata anomaly.
Evidence · text
“random composite grab sample returned 0.20 grams Au/tonne”
Fact 6Niñobamba · silverGrade: 8.55Grade Unit: ounces Ag/tonneView all detailsHide details
Identity
- Project
- Niñobamba
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- MGMA
Geometry
- Grade
- 8.55
- Grade Unit
- ounces Ag/tonne
Classification
- Sample Type
- surface
- Mining Method
- unknown
QA/QC
- Laboratory
- Independent Mining Lab Services
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- check_assays
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2025-10-30T00:00:00.000Z
Reasoning: Silver grade from a random grab sample on the Randypata anomaly.
Evidence · text
“8.55 ounces Ag/tonne”
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.