# Magma Silver Ni&\#xF1;obamba Phase 2 Work Program Results Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419 Original source: https://money.tmx.com/en/quote/MGMA/news/5051223247465327/magma-silver-ni-xf1-obamba-phase-2-work-program-results Publisher: tmx Original announcement: 2025-10-30T15:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas 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 factor: High-grade silver chip sample - Positive factor: Validation of historical results - Positive factor: QA/QC protocols disclosed - Negative factor: Surface sampling only \(no drilling reported in this release\) Facts used in scoring: 6 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: 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 Drilling** Polarity: neutral Definition: 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 1 [Link to this fact](https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419#fact-drill-facts-0) Niñobamba · gold Needs review: drill\_no\_hole\_id #### 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 factor: Validates historical results Evidence · text > two consecutive samples returning 10 metres of 2.32 grams Au/tonne ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419#fact-drill-facts-1) Niñobamba · silver Needs review: drill\_no\_hole\_id #### 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 factor: High grade silver composite Evidence · text > 5-metre composite returning 4.085 ounces Ag/tonne ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419#fact-drill-facts-2) Niñobamba · gold #### 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 factor: High grade intercept Evidence · text > 0.70 metres of 17.41 grams Au/tonne ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419#fact-drill-facts-3) Niñobamba · silver #### 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 factor: High grade intercept Evidence · text > 13.94 ounces Ag/tonne ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419#fact-drill-facts-4) Niñobamba · gold #### 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 6 [Link to this fact](https://atlas-staging.minestarters.com/news/magma-silver-ni-xf1-obamba-phase-2-work-program-results--5ff3f4e1-9db3-415c-ae76-b0a8b97d0419#fact-drill-facts-5) Niñobamba · silver #### 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.