MEX: Annual Report to shareholders

Original announcement by asx on

Company
Minerals Exploration Limited
Ticker
MEX
Exchange
ASX
Region
New Zealand
Primary commodity
Gold
Secondary commodities
Tungsten, Silver
Document categories
Drill results, Other
Extracted
2026-09-29 13:36:34 UTC

Analysis by Minestarters Atlas

Atlas analysis published:

Minestarters Atlas analysis

Summary

Minerals Exploration Limited's annual report details exploration activities at its New Zealand gold and gold-tungsten projects. The company reported high-grade rock chip samples from Waitekauri (up to 2,273 g/t Au) and Invincible (up to 2.63% W), alongside initial diamond drilling results from the Waitekauri Gold Project. While drilling identified broad zones of gold mineralization, it has yet to define the high-grade epithermal feeder zones.

Reasoning: The annual report highlights bonanza-grade rock chip samples from gold and gold-tungsten projects, confirming high prospectivity. However, initial diamond drilling at Waitekauri, while encountering broad low-grade gold zones, did not intersect the targeted high-grade feeder structures, leading to a mixed outlook for the drill program's immediate success.

Positive factors

  • Bonanza-grade rock chip samples (up to 2,273 g/t Au, 2.63% W) indicate strong prospectivity.
  • Broad zones of gold mineralization encountered in initial drilling.
  • Identification of new tungsten prospectivity at Invincible Gold - Tungsten Project.
  • Ongoing exploration activities and commissioning of an independent review for future planning.

Negative factors

  • Initial drilling did not identify high-grade epithermal feeder zones as hoped.
  • True widths of drill intercepts are not known, potentially overstating apparent thickness.
  • No QA/QC disclosure for the reported results, limiting verifiability.
  • Cut-off grades for reported intervals are not disclosed, affecting transparency.
  • Relinquishment of South Australian Uranium Projects.

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 37

Classification and evidence

Apparent Width Onlynegative

Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.

Why it applies: The document explicitly states that 'All intervals are downhole lengths; true widths are not known at this stage' for the drill intercepts.

Evidence · text

“All intervals are downhole lengths; true widths are not known at this stage.”

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: The release does not disclose any QA/QC procedures, certified labs, or QP/CP sign-off for the reported drill and rock chip results.

Evidence · text

“The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changes. The Company confirm that form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.”

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: The document reports drill intervals without stating the cut-off grade used for compositing.

Evidence · text

“Table 1: Jubilee Drillhole Intercepts All intervals are downhole lengths; true widths are not known at this stage.”

Bonanza Interceptpositive

Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: Rock chip samples returned exceptionally high gold grades of 2,273 g/t Au, 283 g/t Au, 129 g/t Au, 362 g/t Au, 37.4 g/t Au, and 32.9 g/t Au, which are well above typical bonanza thresholds for gold.

Evidence · text

“Some of the high-grade rock chip results reported were outstanding, including 2,273g/t Au near Sovereign, 283g/t Au and 129g/t Au at Scotia, and 362g/t Au at Jubilee.”

Step-Out Extensionpositive

Mineralization extended beyond the previously known limit.

Why it applies: The drilling program at Jubilee was designed to test 'depth extensions of known near surface high grade shoots' and 'vertical and strike depth extensions of the modelled gold ore shoots'.

Evidence · text

“Drilling at Jubilee for holes TGW003 and TGW004 was restricted to -45° angle holes targeting depth extensions of known near surface high grade shoots”

Extracted facts

Stored fact records: 37. Some facts used in scoring do not have a stored record.

Drill Results (37)

TGW002AWaitekauri · goldGrade: 5.02Grade Unit: g/tIntercept: 3.5 mView all details
Link to this fact

Identity

Hole ID
TGW002A
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
5.02
Grade Unit
g/t
Intercept
3.5 m
From
97.5 m
To
101 m
Intercept Depth
97.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW002A:97.5-101

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 3.5m intercept at 5.02 g/t Au is a good result for initial exploration drilling in an epithermal system, confirming mineralization at the Scotia prospect, though true width and QA/QC details are not provided.

Positive factors

  • Good gold grade (5.02 g/t) for an epithermal deposit.
  • Initial drilling confirms mineralization at Scotia prospect.

Negative factors

  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · text

“3.5m @ 5.02g/t Au from TGW002A (97.5m to 101.0m)”

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW003Waitekauri · goldGrade: 0.3Grade Unit: g/tIntercept: 4.6 mView all details
Link to this fact

Identity

Hole ID
TGW003
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.3
Grade Unit
g/t
Intercept
4.6 m
From
85.3 m
To
89.9 m
Intercept Depth
85.3 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW003:85.3-89.9

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 4.6m intercept at 0.30 g/t Au is a low-grade result for an epithermal gold system, indicating mineralization but not high-grade feeder zones.

Positive factors

  • Confirms presence of gold mineralization.

Negative factors

  • Low gold grade (0.30 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.30”

Context: 4.6

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW003Waitekauri · silverGrade: 22.7Grade Unit: g/tIntercept: 4.6 mView all details
Link to this fact

Identity

Hole ID
TGW003
Project
Waitekauri
Commodity
silver
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
22.7
Grade Unit
g/t
Intercept
4.6 m
From
85.3 m
To
89.9 m
Intercept Depth
85.3 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW003:85.3-89.9

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 4.6m intercept at 22.7 g/t Ag indicates silver mineralization, which can be a byproduct in epithermal gold systems.

Positive factors

  • Confirms presence of silver mineralization.

Negative factors

  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“22.7”

Context: 4.6

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW004Waitekauri · goldGrade: 0.15Grade Unit: g/tIntercept: 6.3 mView all details
Link to this fact

Identity

Hole ID
TGW004
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.15
Grade Unit
g/t
Intercept
6.3 m
From
205 m
To
211.3 m
Intercept Depth
205 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW004:205-211.3

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 6.3m intercept at 0.15 g/t Au is a very low-grade result for an epithermal gold system, indicating limited economic potential at this depth.

Negative factors

  • Very low gold grade (0.15 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.15”

Context: 6.3

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW005Waitekauri · goldGrade: 10.5Grade Unit: g/tIntercept: 0.5 mView all details
Link to this fact

Identity

Hole ID
TGW005
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
10.5
Grade Unit
g/t
Intercept
0.5 m
From
90.5 m
To
91 m
Intercept Depth
90.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW005:90.5-91

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow but high-grade intercept of 0.5m at 10.5 g/t Au is a positive indicator of high-grade mineralization, though its limited width and unknown true width reduce its overall materiality.

Positive factors

  • High gold grade (10.5 g/t) for an epithermal deposit.
  • Indicates presence of high-grade mineralization within the system.

Negative factors

  • Very narrow intercept length (0.5m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“10.5”

Context: 0.5

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW006Waitekauri · goldGrade: 0.34Grade Unit: g/tIntercept: 2.1 mView all details
Link to this fact

Identity

Hole ID
TGW006
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.34
Grade Unit
g/t
Intercept
2.1 m
From
149.8 m
To
151.9 m
Intercept Depth
149.8 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW006:149.8-151.9

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 2.1m intercept at 0.34 g/t Au is a low-grade result, indicating minor gold mineralization.

Negative factors

  • Low gold grade (0.34 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.34”

Context: 2.1

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW006Waitekauri · goldGrade: 0.41Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
TGW006
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.41
Grade Unit
g/t
Intercept
1 m
From
164 m
To
165 m
Intercept Depth
149.8 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW006:164-165

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 1.0m intercept at 0.41 g/t Au is a low-grade result, indicating minor gold mineralization.

Negative factors

  • Low gold grade (0.41 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.41”

Context: 1.0

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW007Waitekauri · goldGrade: 0.25Grade Unit: g/tIntercept: 3 mView all details
Link to this fact

Identity

Hole ID
TGW007
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.25
Grade Unit
g/t
Intercept
3 m
From
133 m
To
136 m
Intercept Depth
133 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW007:133-136

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 3.0m intercept at 0.25 g/t Au is a very low-grade result, indicating limited gold mineralization.

Negative factors

  • Very low gold grade (0.25 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.25”

Context: 3.0

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW007Waitekauri · goldGrade: 0.29Grade Unit: g/tIntercept: 2.9 mView all details
Link to this fact

Identity

Hole ID
TGW007
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.29
Grade Unit
g/t
Intercept
2.9 m
From
140.3 m
To
143.2 m
Intercept Depth
133 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW007:140.3-143.2

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 2.9m intercept at 0.29 g/t Au is a very low-grade result, indicating limited gold mineralization.

Negative factors

  • Very low gold grade (0.29 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.29”

Context: 2.9

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW008Waitekauri · goldGrade: 0.08Grade Unit: g/tIntercept: 27.7 mView all details
Link to this fact

Identity

Hole ID
TGW008
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.08
Grade Unit
g/t
Intercept
27.7 m
From
184.1 m
To
211.8 m
Intercept Depth
184.1 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW008:184.1-211.8

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A broad intercept of 27.7m at an extremely low grade of 0.08 g/t Au suggests very diffuse mineralization with limited economic significance.

Positive factors

  • Broad intercept length (27.7m).

Negative factors

  • Extremely low gold grade (0.08 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.08”

Context: 27.7

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW008Waitekauri · silverGrade: 21.5Grade Unit: g/tIntercept: 27.7 mView all details
Link to this fact

Identity

Hole ID
TGW008
Project
Waitekauri
Commodity
silver
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
21.5
Grade Unit
g/t
Intercept
27.7 m
From
184.1 m
To
211.8 m
Intercept Depth
184.1 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW008:184.1-211.8

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A broad intercept of 27.7m at 21.5 g/t Ag indicates silver mineralization, which can be a byproduct in epithermal gold systems.

Positive factors

  • Broad intercept length (27.7m).
  • Confirms presence of silver mineralization.

Negative factors

  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“21.5”

Context: 27.7

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW008Waitekauri · goldGrade: 0.33Grade Unit: g/tIntercept: 1.2 mView all details
Link to this fact

Identity

Hole ID
TGW008
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.33
Grade Unit
g/t
Intercept
1.2 m
From
200.4 m
To
201.6 m
Intercept Depth
184.1 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW008:200.4-201.6

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow sub-interval at 0.33 g/t Au is a low-grade result, indicating minor gold mineralization within a broader low-grade zone.

Negative factors

  • Low gold grade (0.33 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.33”

Context: 1.2

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW008Waitekauri · silverGrade: 91.6Grade Unit: g/tIntercept: 1.2 mView all details
Link to this fact

Identity

Hole ID
TGW008
Project
Waitekauri
Commodity
silver
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
91.6
Grade Unit
g/t
Intercept
1.2 m
From
200.4 m
To
201.6 m
Intercept Depth
184.1 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW008:200.4-201.6

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow sub-interval with a good silver grade of 91.6 g/t Ag indicates higher-grade silver mineralization within the broader zone.

Positive factors

  • Good silver grade (91.6 g/t) for a narrow interval.

Negative factors

  • Narrow intercept length (1.2m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“91.6”

Context: 1.2

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW009Waitekauri · goldGrade: 0.23Grade Unit: g/tIntercept: 5 mView all details
Link to this fact

Identity

Hole ID
TGW009
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.23
Grade Unit
g/t
Intercept
5 m
From
69 m
To
74 m
Intercept Depth
69 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW009:69-74

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 5.0m intercept at 0.23 g/t Au is a very low-grade result, indicating limited gold mineralization.

Negative factors

  • Very low gold grade (0.23 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.23”

Context: 5.0

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW010Waitekauri · goldGrade: 0.21Grade Unit: g/tIntercept: 6.9 mView all details
Link to this fact

Identity

Hole ID
TGW010
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.21
Grade Unit
g/t
Intercept
6.9 m
From
88.2 m
To
95.1 m
Intercept Depth
88.2 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW010:88.2-95.1

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 6.9m intercept at 0.21 g/t Au is a very low-grade result, indicating limited gold mineralization.

Negative factors

  • Very low gold grade (0.21 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.21”

Context: 6.9

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW011Waitekauri · goldGrade: 0.3Grade Unit: g/tIntercept: 80.3 mView all details
Link to this fact

Identity

Hole ID
TGW011
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.3
Grade Unit
g/t
Intercept
80.3 m
From
122 m
To
202.3 m
Intercept Depth
122 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW011:122-202.3

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A very broad intercept of 80.3m at 0.30 g/t Au indicates a significant mineralized zone, though the grade is low for an epithermal system.

Positive factors

  • Very broad intercept length (80.3m) indicates significant mineralized footprint.

Negative factors

  • Low gold grade (0.30 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.30”

Context: 80.3

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW011Waitekauri · goldGrade: 0.52Grade Unit: g/tIntercept: 16 mView all details
Link to this fact

Identity

Hole ID
TGW011
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.52
Grade Unit
g/t
Intercept
16 m
From
159 m
To
175 m
Intercept Depth
122 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW011:159-175

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 16.0m intercept at 0.52 g/t Au represents a broader zone of low-grade gold mineralization within the overall intercept.

Positive factors

  • Broad intercept length (16.0m) within a larger mineralized zone.

Negative factors

  • Low gold grade (0.52 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · text

“16.0m @ 0.52g/t Au from 159.0m”

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW011Waitekauri · goldGrade: 1.21Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
TGW011
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
1.21
Grade Unit
g/t
Intercept
1 m
From
170 m
To
171 m
Intercept Depth
122 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW011:170-171

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow intercept of 1.0m at 1.21 g/t Au indicates a higher-grade zone within the broader mineralization, but its limited width reduces its significance.

Positive factors

  • Moderate gold grade (1.21 g/t) for a narrow interval.

Negative factors

  • Very narrow intercept length (1.0m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“1.21”

Context: 1.0

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW012Waitekauri · goldGrade: 0.35Grade Unit: g/tIntercept: 22.7 mView all details
Link to this fact

Identity

Hole ID
TGW012
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.35
Grade Unit
g/t
Intercept
22.7 m
From
135.5 m
To
158.2 m
Intercept Depth
135.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW012:135.5-158.2

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A broad intercept of 22.7m at 0.35 g/t Au indicates a significant mineralized zone, though the grade is low for an epithermal system.

Positive factors

  • Broad intercept length (22.7m) indicates significant mineralized footprint.

Negative factors

  • Low gold grade (0.35 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.35”

Context: 22.7

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW012Waitekauri · goldGrade: 2.6Grade Unit: g/tIntercept: 0.9 mView all details
Link to this fact

Identity

Hole ID
TGW012
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
2.6
Grade Unit
g/t
Intercept
0.9 m
From
150.8 m
To
151.7 m
Intercept Depth
135.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW012:150.8-151.7

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow intercept of 0.9m at 2.60 g/t Au indicates a higher-grade zone within the broader mineralization, but its limited width reduces its significance.

Positive factors

  • Moderate gold grade (2.60 g/t) for a narrow interval.

Negative factors

  • Very narrow intercept length (0.9m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“2.60”

Context: 0.9

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW013Waitekauri · goldGrade: 1.1Grade Unit: g/tIntercept: 3.8 mView all details
Link to this fact

Identity

Hole ID
TGW013
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
1.1
Grade Unit
g/t
Intercept
3.8 m
From
70.8 m
To
74.6 m
Intercept Depth
70.8 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW013:70.8-74.6

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A 3.8m intercept at 1.10 g/t Au is a moderate-grade result for an epithermal system, indicating a mineralized zone.

Positive factors

  • Moderate gold grade (1.10 g/t) over a reasonable width.

Negative factors

  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“1.10”

Context: 3.8

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW013Waitekauri · goldGrade: 2.79Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
TGW013
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
2.79
Grade Unit
g/t
Intercept
1 m
From
70.8 m
To
71.8 m
Intercept Depth
70.8 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW013:70.8-71.8

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow intercept of 1.0m at 2.79 g/t Au indicates a higher-grade zone within the broader mineralization, but its limited width reduces its significance.

Positive factors

  • Moderate gold grade (2.79 g/t) for a narrow interval.

Negative factors

  • Very narrow intercept length (1.0m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“2.79”

Context: 1.0

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW013Waitekauri · goldGrade: 1.27Grade Unit: g/tIntercept: 0.9 mView all details
Link to this fact

Identity

Hole ID
TGW013
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
1.27
Grade Unit
g/t
Intercept
0.9 m
From
75.8 m
To
76.7 m
Intercept Depth
70.8 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW013:75.8-76.7

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow intercept of 0.9m at 1.27 g/t Au indicates a higher-grade zone within the broader mineralization, but its limited width reduces its significance.

Positive factors

  • Moderate gold grade (1.27 g/t) for a narrow interval.

Negative factors

  • Very narrow intercept length (0.9m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“1.27”

Context: 0.9

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW014Waitekauri · goldGrade: 0.25Grade Unit: g/tIntercept: 52.5 mView all details
Link to this fact

Identity

Hole ID
TGW014
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.25
Grade Unit
g/t
Intercept
52.5 m
From
47.5 m
To
100 m
Intercept Depth
47.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW014:47.5-100

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A very broad intercept of 52.5m at 0.25 g/t Au indicates a significant mineralized zone, though the grade is low for an epithermal system.

Positive factors

  • Very broad intercept length (52.5m) indicates significant mineralized footprint.

Negative factors

  • Low gold grade (0.25 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.25”

Context: 52.5

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW014Waitekauri · goldGrade: 0.52Grade Unit: g/tIntercept: 8.5 mView all details
Link to this fact

Identity

Hole ID
TGW014
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.52
Grade Unit
g/t
Intercept
8.5 m
From
55 m
To
63.5 m
Intercept Depth
47.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW014:55-63.5

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: An 8.5m intercept at 0.52 g/t Au represents a broader zone of low-grade gold mineralization within the overall intercept.

Positive factors

  • Broad intercept length (8.5m) within a larger mineralized zone.

Negative factors

  • Low gold grade (0.52 g/t) for an epithermal deposit.
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · text

“8.5m @ 0.52g/t Au from 55.0m”

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

TGW014Waitekauri · goldGrade: 0.71Grade Unit: g/tIntercept: 1.5 mView all details
Link to this fact

Identity

Hole ID
TGW014
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.71
Grade Unit
g/t
Intercept
1.5 m
From
62 m
To
63.5 m
Intercept Depth
47.5 m

Classification

Deposit Type
epithermal
Program
exploration
Sample Type
drill
Group ID
TGW014:62-63.5

QA/QC

QA/QC Methods
standards

Deleterious

Deleterious Flag
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A narrow intercept of 1.5m at 0.71 g/t Au indicates a slightly higher-grade zone within the broader mineralization.

Positive factors

  • Moderate gold grade (0.71 g/t) for a narrow interval.

Negative factors

  • Narrow intercept length (1.5m).
  • True width not known, potentially overstating thickness.
  • No QA/QC disclosure.
  • Cut-off grade not disclosed.

Evidence · table

“0.71”

Context: 1.5

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Fact 27Invincible Gold - Tungsten Project · goldGrade: 0.01Grade Unit: g/tView all details
Link to this fact

Identity

Project
Invincible Gold - Tungsten Project
Commodity
gold
Region
new zealand
Reported Region
New Zealand
Ticker
MEX

Geometry

Grade
0.01
Grade Unit
g/t

Classification

Sample Type
surface

Location

Location
Davidsons Mine
Easting
1237776
Northing
5030049
Loc. Confidence
medium
Loc. Source
document

QA/QC

QA/QC Disclosed
No
Lab Certified
No

Deleterious

Deleterious Flag
No

Compositing

Dilution Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A very low-grade rock chip sample of <0.01 g/t Au from Davidsons Mine indicates negligible gold presence.

Negative factors

  • Very low gold grade (<0.01 g/t) from rock chip sampling.
  • Rock chip samples are not representative of bulk mineralization.
  • No QA/QC disclosure.

Evidence · table

“<0.01”

Context: A1075

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

Fact 28Invincible Gold - Tungsten Project · tungstenGrade: 2.63Grade Unit: %View all details
Link to this fact

Identity

Project
Invincible Gold - Tungsten Project
Commodity
tungsten
Region
new zealand
Reported Region
New Zealand
Ticker
MEX

Geometry

Grade
2.63
Grade Unit
%

Classification

Sample Type
surface

Location

Location
Davidsons Mine
Easting
1237776
Northing
5030049
Loc. Confidence
medium
Loc. Source
document

QA/QC

QA/QC Disclosed
No
Lab Certified
No

Deleterious

Deleterious Flag
No

Compositing

Dilution Disclosed
No

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: A high-grade rock chip sample of 2.63% W from Davidsons Mine confirms the prospect's high-grade tungsten potential, though rock chip samples are not definitive for resource estimation.

Positive factors

  • High-grade tungsten (2.63% W) from rock chip sampling.
  • Confirms high-grade prospectivity at Davidsons Mine.

Negative factors

  • Rock chip samples are not representative of bulk mineralization.
  • No QA/QC disclosure.

Evidence · table

“2.63”

Context: A1075

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

andWaitekauri · goldGrade: 0.41Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
and
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.41
Grade Unit
g/t
Intercept
1 m
From
164 m
To
165 m
Intercept Depth
164 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
and:164-165

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 0.41 g/t gold is weak against the default band [5, 2, 1, 0.3] g/t. Grade×width 0.4 g/t·m is below (grade alone is weak; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“0.41”

Context: and

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

andWaitekauri · goldGrade: 0.29Grade Unit: g/tIntercept: 2.9 mView all details
Link to this fact

Identity

Hole ID
and
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.29
Grade Unit
g/t
Intercept
2.9 m
From
140.3 m
To
143.2 m
Intercept Depth
140.3 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
and:140.3-143.2

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 0.29 g/t gold is below against the default band [5, 2, 1, 0.3] g/t. Grade×width 0.8 g/t·m is below.

Negative factors

  • 0.29 g/t gold is below the weak threshold (0.3 g/t) on the default band.
  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“0.29”

Context: and

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

incl.Waitekauri · goldGrade: 0.33Grade Unit: g/tIntercept: 1.2 mView all details
Link to this fact

Identity

Hole ID
incl.
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.33
Grade Unit
g/t
Intercept
1.2 m
From
200.4 m
To
201.6 m
Intercept Depth
200.4 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
incl.:200.4-201.6

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 0.33 g/t gold is weak against the default band [5, 2, 1, 0.3] g/t. Grade×width 0.4 g/t·m is below (grade alone is weak; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“0.33”

Context: incl.

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

incl.Waitekauri · silverGrade: 91.6Grade Unit: g/tIntercept: 1.2 mView all details
Link to this fact

Identity

Hole ID
incl.
Project
Waitekauri
Commodity
silver
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
91.6
Grade Unit
g/t
Intercept
1.2 m
From
200.4 m
To
201.6 m
Intercept Depth
200.4 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
incl.:200.4-201.6

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 91.6 g/t silver is weak against the default band [500, 200, 100, 30] g/t. Grade×width 109.9 g/t·m is below (grade alone is weak; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“91.6”

Context: incl.

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

incl.Waitekauri · goldGrade: 1.21Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
incl.
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
1.21
Grade Unit
g/t
Intercept
1 m
From
170 m
To
171 m
Intercept Depth
170 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
incl.:170-171

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 1.21 g/t gold is moderate against the default band [5, 2, 1, 0.3] g/t. Grade×width 1.2 g/t·m is below (grade alone is moderate; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“1.21”

Context: incl.

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

incl.Waitekauri · goldGrade: 2.6Grade Unit: g/tIntercept: 0.9 mView all details
Link to this fact

Identity

Hole ID
incl.
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
2.6
Grade Unit
g/t
Intercept
0.9 m
From
150.8 m
To
151.7 m
Intercept Depth
150.8 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
incl.:150.8-151.7

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 2.6 g/t gold is strong against the default band [5, 2, 1, 0.3] g/t. Grade×width 2.3 g/t·m is below (grade alone is strong; the better of the two is used).

Positive factors

  • 2.6 g/t gold is strong on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“2.60”

Context: incl.

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

incl.Waitekauri · goldGrade: 2.79Grade Unit: g/tIntercept: 1 mView all details
Link to this fact

Identity

Hole ID
incl.
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
2.79
Grade Unit
g/t
Intercept
1 m
From
70.8 m
To
71.8 m
Intercept Depth
70.8 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
incl.:70.8-71.8

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 2.79 g/t gold is strong against the default band [5, 2, 1, 0.3] g/t. Grade×width 2.8 g/t·m is below (grade alone is strong; the better of the two is used).

Positive factors

  • 2.79 g/t gold is strong on the default band.

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“2.79”

Context: incl.

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

andWaitekauri · goldGrade: 1.27Grade Unit: g/tIntercept: 0.9 mView all details
Link to this fact

Identity

Hole ID
and
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
1.27
Grade Unit
g/t
Intercept
0.9 m
From
75.8 m
To
76.7 m
Intercept Depth
75.8 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
and:75.8-76.7

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 1.27 g/t gold is moderate against the default band [5, 2, 1, 0.3] g/t. Grade×width 1.1 g/t·m is below (grade alone is moderate; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“1.27”

Context: and

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

incl.Waitekauri · goldGrade: 0.71Grade Unit: g/tIntercept: 1.5 mView all details
Link to this fact

Identity

Hole ID
incl.
Project
Waitekauri
Commodity
gold
Region
new zealand
Reported Region
new zealand
Ticker
MEX

Geometry

Grade
0.71
Grade Unit
g/t
Intercept
1.5 m
From
62 m
To
63.5 m
Intercept Depth
62 m

Classification

Deposit Type
epithermal
Sample Type
drill
Group ID
incl.:62-63.5

QA/QC

QA/QC Methods
standards

Review

Needs Review
No
Interp. Status
scored
Historical
No

Dates

Event date
2026-09-29T00:00:00.000Z

Reasoning: Expanded from assay table. 0.71 g/t gold is weak against the default band [5, 2, 1, 0.3] g/t. Grade×width 1.1 g/t·m is below (grade alone is weak; the better of the two is used).

Negative factors

  • Scored from rubric bands during table expansion, not from document context.

Evidence · table

“0.71”

Context: incl.

Tags used in scoring

No QA/QC Disclosurenegative

Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc_disclosed is not true

Cut-off Undisclosednegative

High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff_grade was stated

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.