NFL: Ciclon Copper Project - Transaction Update
Original announcement by asx on
- Company
- Norfolk Metals Limited
- Ticker
- NFL
- Exchange
- ASX
- Region
- Chile
- Primary commodity
- Copper
- Secondary commodities
- Zinc, Lead, Silver, Gold
- Document categories
- Agreement transaction, Capital raise, Resource update
- Extracted
- 2026-10-19 08:12:47 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Norfolk Metals Limited has provided an update on its acquisition of the Ciclón Copper Project in Chile, extending the Share Purchase Agreement to December 2026 and reducing the minimum capital raising condition to AUD $75 million. The project includes a JORC 2012 Mineral Resource Estimate of 11.8 Mt at 2.88% CuEq, with details provided for various commodities and categories. The transaction is conditional on the capital raising and ASX reinstatement, and the company has secured a loan for operational costs.
Reasoning: The company provided an update on a significant acquisition, including an extension of the SPA and a reduction in the capital raising target, which are positive steps towards completing the transaction. The acquired project includes a JORC-compliant resource estimate and environmental approval, de-risking future development. However, the transaction has faced delays and required additional financing through a loan.
Positive factors
- Acquisition progressing with extended SPA
- Capital raising condition reduced, easing financing path
- Project includes a JORC 2012 Mineral Resource Estimate
- Environmental approval for underground mining operations received
Negative factors
- Transaction delays requiring extension fees
- Loan taken for operational costs
Facts used in scoring: 57
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimate is explicitly stated as JORC 2012 compliant.
Evidence · text
“Mineral Resource Estimate (JORC 2012)”
QP/CP Signedpositive
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: The document includes a 'Competent Person’s Statement' confirming the information relates to Mineral Resources and that the Company is not aware of new information materially affecting it, implying QP/CP sign-off.
Evidence · text
“Competent Person’s Statement The information in this announcement that relates to Mineral Resources has been extracted from various Norfolk ASX announcements and are available to view on the Company’s website at www.norfolkmetals.com.au or through the ASX website at www.asx.com.au (using ticker code “NFL”). 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 Mineral Resource Estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for the Ciclón Copper Mixed Zone, Ciclón Zinc Sulphide Zone, and Exploradora Prospect are clearly stated.
Evidence · text
“Cut-off grade Ciclón Copper Mixed Zone CuEq% = 1.6% Cut-off grade Ciclón Zinc Sulphide Zone ZnEq% = 4% Cut-off grade Exploradora CuEq% = 0.8%”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the resource (3.8 Mt) is classified as Inferred, which is a speculative category.
Evidence · table
“3.8”
Context: Inferred
Metal Equivalent Opaquepositive · Story-specific tag
Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used.
Why it applies: Metal equivalent grades are reported with full disclosure of assumed commodity prices and metallurgical recoveries.
Evidence · text
“Assumed commodity prices: Copper (Cu) US$12,000/t; Zinc (Zn) US$3,000/t; Lead (Pb) US$1,800/t, Silver (Ag) US$70/ozt; Gold (Au) US$3,000/ozt. Assumed Metallurgical Recoveries: Copper (Cu) 68.2%; Zinc (Zn) 95.5%; Lead (Pb) 89.7%; Silver (Ag) 86.7%; Gold (Au) 75%.”
Extracted facts
Stored fact records: 55. Some facts used in scoring do not have a stored record.
Resource Estimates (55)
indicatedCiclón Copper Project · copperTonnes: 8000000Grade: 0.99Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a1d6f2716c2ce9cc268a
Resource Data
- Category
- indicated
- Tonnes
- 8000000
- Grade
- 0.99
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The indicated resource contains a solid copper grade, contributing significantly to the overall metal equivalent value and project potential.
Positive factors
- Good copper grade within indicated resource
- JORC compliant estimate
Evidence · table
“0.99”
Context: 8.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Copper Project · zincTonnes: 8000000Grade: 10.76Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a1d6f2716c2ce9cc268a
Resource Data
- Category
- indicated
- Tonnes
- 8000000
- Grade
- 10.76
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 10.76
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The high zinc equivalent grade for the indicated resource highlights the significant contribution of zinc and other base metals to the project's overall value.
Positive factors
- High zinc equivalent grade for indicated resource
- JORC compliant estimate
Evidence · table
“10.76”
Context: 8.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Copper Project · leadTonnes: 8000000Grade: 0.77Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a1d6f2716c2ce9cc268a
Resource Data
- Category
- indicated
- Tonnes
- 8000000
- Grade
- 0.77
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The presence of lead in the indicated resource adds to the polymetallic nature of the deposit, potentially enhancing overall project value.
Positive factors
- Lead grade present within indicated resource
- JORC compliant estimate
Evidence · table
“0.77”
Context: 8.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Copper Project · silverTonnes: 8000000Grade: 159Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a1d6f2716c2ce9cc268a
Resource Data
- Category
- indicated
- Tonnes
- 8000000
- Grade
- 159
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 159
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The high silver equivalent grade for the indicated resource underscores the significant contribution of silver and other precious metals to the project's overall value.
Positive factors
- High silver equivalent grade for indicated resource
- JORC compliant estimate
Evidence · table
“159”
Context: 8.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Copper Project · goldTonnes: 8000000Grade: 0.24Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a1d6f2716c2ce9cc268a
Resource Data
- Category
- indicated
- Tonnes
- 8000000
- Grade
- 0.24
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The presence of gold in the indicated resource adds to the polymetallic nature of the deposit, potentially enhancing overall project value.
Positive factors
- Gold grade present within indicated resource
- JORC compliant estimate
Evidence · table
“0.24”
Context: 8.0
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Copper Project · copperTonnes: 3800000Grade: 0.82Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a276cc54860d6c50f466
Resource Data
- Category
- inferred
- Tonnes
- 3800000
- Grade
- 0.82
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The inferred resource contains a copper grade that contributes to the overall metal equivalent, but its lower confidence category means further work is needed for confirmation.
Positive factors
- Copper grade present within inferred resource
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.82”
Context: 3.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Copper Project · zincTonnes: 3800000Grade: 10.09Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a276cc54860d6c50f466
Resource Data
- Category
- inferred
- Tonnes
- 3800000
- Grade
- 10.09
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 10.09
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The high zinc equivalent grade for the inferred resource highlights the significant contribution of zinc and other base metals, but requires further drilling to upgrade confidence.
Positive factors
- High zinc equivalent grade for inferred resource
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“10.09”
Context: 3.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Copper Project · leadTonnes: 3800000Grade: 0.89Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a276cc54860d6c50f466
Resource Data
- Category
- inferred
- Tonnes
- 3800000
- Grade
- 0.89
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The presence of lead in the inferred resource adds to the polymetallic nature of the deposit, but its contribution needs to be confirmed with higher confidence drilling.
Positive factors
- Lead grade present within inferred resource
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.89”
Context: 3.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Copper Project · silverTonnes: 3800000Grade: 150Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a276cc54860d6c50f466
Resource Data
- Category
- inferred
- Tonnes
- 3800000
- Grade
- 150
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 150
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The high silver equivalent grade for the inferred resource underscores the significant contribution of silver and other precious metals, but requires further drilling to upgrade confidence.
Positive factors
- High silver equivalent grade for inferred resource
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“150”
Context: 3.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Copper Project · goldTonnes: 3800000Grade: 0.18Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Copper Project
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:a276cc54860d6c50f466
Resource Data
- Category
- inferred
- Tonnes
- 3800000
- Grade
- 0.18
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The presence of gold in the inferred resource adds to the polymetallic nature of the deposit, but its contribution needs to be confirmed with higher confidence drilling.
Positive factors
- Gold grade present within inferred resource
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.18”
Context: 3.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · copperTonnes: 1600000Grade: 1.17Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:48c41c014f049da2384a
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- indicated
- Tonnes
- 1600000
- Grade
- 1.17
- Grade Unit
- %
- Cutoff Grade
- 1.6
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 4.04
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect shows a good indicated copper grade and high copper equivalent, contributing positively to the overall resource.
Positive factors
- Good copper grade in indicated resource for Copper Mixed zone
- High copper equivalent grade
- JORC compliant estimate
Evidence · table
“1.17”
Context: 1.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · zincTonnes: 1600000Grade: 0.65Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:48c41c014f049da2384a
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- indicated
- Tonnes
- 1600000
- Grade
- 0.65
- Grade Unit
- %
- Cutoff Grade
- 1.6
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 11.54
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect contains a zinc grade and high zinc equivalent, adding to the polymetallic nature of the indicated resource.
Positive factors
- Zinc grade present in indicated resource for Copper Mixed zone
- High zinc equivalent grade
- JORC compliant estimate
Evidence · table
“0.65”
Context: 1.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · leadTonnes: 1600000Grade: 0.58Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:48c41c014f049da2384a
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- indicated
- Tonnes
- 1600000
- Grade
- 0.58
- Grade Unit
- %
- Cutoff Grade
- 1.6
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 170
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect contains a lead grade and high silver equivalent, further diversifying the indicated resource.
Positive factors
- Lead grade present in indicated resource for Copper Mixed zone
- High silver equivalent grade
- JORC compliant estimate
Evidence · table
“0.58”
Context: 1.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · silverTonnes: 1600000Grade: 91Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:48c41c014f049da2384a
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- indicated
- Tonnes
- 1600000
- Grade
- 91
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect shows a good indicated silver grade, contributing to the polymetallic nature of the resource.
Positive factors
- Good silver grade in indicated resource for Copper Mixed zone
- JORC compliant estimate
Evidence · table
“91”
Context: 1.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · goldTonnes: 1600000Grade: 0.4Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:48c41c014f049da2384a
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- indicated
- Tonnes
- 1600000
- Grade
- 0.4
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect contains a gold grade, adding to the polymetallic nature of the indicated resource.
Positive factors
- Gold grade present in indicated resource for Copper Mixed zone
- JORC compliant estimate
Evidence · table
“0.40”
Context: 1.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · copperTonnes: 5100000Grade: 0.57Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:1cc264e3bd9b1e4df242
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 5100000
- Grade
- 0.57
- Grade Unit
- %
- Cutoff Grade
- 4
- Cutoff Unit
- % ZnEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 2.4
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect shows a significant indicated resource with a good copper equivalent grade, contributing substantially to the overall resource.
Positive factors
- Significant indicated resource tonnage for Zinc Sulphide zone
- Good copper equivalent grade
- JORC compliant estimate
Evidence · table
“0.57”
Context: 5.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · zincTonnes: 5100000Grade: 3.16Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:1cc264e3bd9b1e4df242
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 5100000
- Grade
- 3.16
- Grade Unit
- %
- Cutoff Grade
- 4
- Cutoff Unit
- % ZnEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 9.59
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect contains a high indicated zinc grade and zinc equivalent, highlighting its significant contribution to the polymetallic resource.
Positive factors
- High zinc grade in indicated resource for Zinc Sulphide zone
- High zinc equivalent grade
- JORC compliant estimate
Evidence · table
“3.16”
Context: 5.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · leadTonnes: 5100000Grade: 0.96Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:1cc264e3bd9b1e4df242
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 5100000
- Grade
- 0.96
- Grade Unit
- %
- Cutoff Grade
- 4
- Cutoff Unit
- % ZnEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 141
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect contains a lead grade and high silver equivalent, further diversifying the indicated resource.
Positive factors
- Lead grade present in indicated resource for Zinc Sulphide zone
- High silver equivalent grade
- JORC compliant estimate
Evidence · table
“0.96”
Context: 5.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · silverTonnes: 5100000Grade: 46Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:1cc264e3bd9b1e4df242
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 5100000
- Grade
- 46
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect shows a good indicated silver grade, contributing to the polymetallic nature of the resource.
Positive factors
- Good silver grade in indicated resource for Zinc Sulphide zone
- JORC compliant estimate
Evidence · table
“46”
Context: 5.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCiclón Prospect · goldTonnes: 5100000Grade: 0.21Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:1cc264e3bd9b1e4df242
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 5100000
- Grade
- 0.21
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect contains a gold grade, adding to the polymetallic nature of the indicated resource.
Positive factors
- Gold grade present in indicated resource for Zinc Sulphide zone
- JORC compliant estimate
Evidence · table
“0.21”
Context: 5.1
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · copperTonnes: 900000Grade: 0.7Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:b5677f26de50777af1b8
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- inferred
- Tonnes
- 900000
- Grade
- 0.7
- Grade Unit
- %
- Cutoff Grade
- 1.6
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 3.92
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect shows an inferred copper grade and high copper equivalent, indicating further potential but requiring more drilling to upgrade confidence.
Positive factors
- Copper grade in inferred resource for Copper Mixed zone
- High copper equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.70”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · zincTonnes: 900000Grade: 0.44Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:b5677f26de50777af1b8
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- inferred
- Tonnes
- 900000
- Grade
- 0.44
- Grade Unit
- %
- Cutoff Grade
- 1.6
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 11.19
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect contains an inferred zinc grade and high zinc equivalent, adding to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Zinc grade present in inferred resource for Copper Mixed zone
- High zinc equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.44”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · leadTonnes: 900000Grade: 0.59Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:b5677f26de50777af1b8
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- inferred
- Tonnes
- 900000
- Grade
- 0.59
- Grade Unit
- %
- Cutoff Grade
- 1.6
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 164
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect contains an inferred lead grade and high silver equivalent, further diversifying the resource but requiring more drilling to upgrade confidence.
Positive factors
- Lead grade present in inferred resource for Copper Mixed zone
- High silver equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.59”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · silverTonnes: 900000Grade: 107Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:b5677f26de50777af1b8
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- inferred
- Tonnes
- 900000
- Grade
- 107
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect shows a good inferred silver grade, contributing to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Good silver grade in inferred resource for Copper Mixed zone
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“107”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · goldTonnes: 900000Grade: 0.45Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:b5677f26de50777af1b8
- Deposit or zone
- Copper Mixed
Resource Data
- Category
- inferred
- Tonnes
- 900000
- Grade
- 0.45
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Mixed zone at Ciclón Prospect contains an inferred gold grade, adding to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Gold grade present in inferred resource for Copper Mixed zone
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.45”
Context: 0.9
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · copperTonnes: 1400000Grade: 0.11Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:06037feb43ef860b4eb1
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 0.11
- Grade Unit
- %
- Cutoff Grade
- 4
- Cutoff Unit
- % ZnEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 2.09
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect shows a lower inferred copper grade, but contributes to the overall copper equivalent, indicating potential that needs further confirmation.
Positive factors
- Copper equivalent grade in inferred resource for Zinc Sulphide zone
- JORC compliant estimate
Negative factors
- Lower copper grade
- Lower confidence category (inferred)
Evidence · table
“0.11”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · zincTonnes: 1400000Grade: 4.11Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:06037feb43ef860b4eb1
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 4.11
- Grade Unit
- %
- Cutoff Grade
- 4
- Cutoff Unit
- % ZnEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 8.37
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect contains a high inferred zinc grade and zinc equivalent, highlighting its significant contribution to the polymetallic resource, but requiring more drilling to upgrade confidence.
Positive factors
- High zinc grade in inferred resource for Zinc Sulphide zone
- High zinc equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“4.11”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · leadTonnes: 1400000Grade: 1.63Grade Unit: %View all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:06037feb43ef860b4eb1
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 1.63
- Grade Unit
- %
- Cutoff Grade
- 4
- Cutoff Unit
- % ZnEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 123
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect contains an inferred lead grade and high silver equivalent, further diversifying the resource but requiring more drilling to upgrade confidence.
Positive factors
- Lead grade present in inferred resource for Zinc Sulphide zone
- High silver equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“1.63”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · silverTonnes: 1400000Grade: 40Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:06037feb43ef860b4eb1
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 40
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect shows an inferred silver grade, contributing to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Silver grade present in inferred resource for Zinc Sulphide zone
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“40”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCiclón Prospect · goldTonnes: 1400000Grade: 0.08Grade Unit: ppmView all detailsHide details
Identity
- Project
- Ciclón Prospect
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:06037feb43ef860b4eb1
- Deposit or zone
- Zinc Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1400000
- Grade
- 0.08
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Zinc Sulphide zone at Ciclón Prospect contains a lower inferred gold grade, adding to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Gold grade present in inferred resource for Zinc Sulphide zone
- JORC compliant estimate
Negative factors
- Lower gold grade
- Lower confidence category (inferred)
Evidence · table
“0.08”
Context: 1.4
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExploradora Prospect · copperTonnes: 1300000Grade: 2.39Grade Unit: %View all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:59ca22ffbd702adbe29e
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 2.39
- Grade Unit
- %
- Cutoff Grade
- 0.8
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 3.61
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect shows a high indicated copper grade and copper equivalent, representing a significant and high-quality portion of the resource.
Positive factors
- High copper grade in indicated resource for Copper Sulphide zone
- High copper equivalent grade
- JORC compliant estimate
Evidence · table
“2.39”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExploradora Prospect · zincTonnes: 1300000Grade: 0.86Grade Unit: %View all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:59ca22ffbd702adbe29e
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 0.86
- Grade Unit
- %
- Cutoff Grade
- 0.8
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 14.32
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect contains a zinc grade and very high zinc equivalent, adding significant polymetallic value to the indicated resource.
Positive factors
- Zinc grade present in indicated resource for Copper Sulphide zone
- Very high zinc equivalent grade
- JORC compliant estimate
Evidence · table
“0.86”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExploradora Prospect · leadTonnes: 1300000Grade: 0.27Grade Unit: %View all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:59ca22ffbd702adbe29e
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 0.27
- Grade Unit
- %
- Cutoff Grade
- 0.8
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 217
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect contains a lead grade and very high silver equivalent, further diversifying the indicated resource and enhancing its value.
Positive factors
- Lead grade present in indicated resource for Copper Sulphide zone
- Very high silver equivalent grade
- JORC compliant estimate
Evidence · table
“0.27”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExploradora Prospect · silverTonnes: 1300000Grade: 57Grade Unit: ppmView all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:59ca22ffbd702adbe29e
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 57
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect shows a good indicated silver grade, contributing to the polymetallic nature of the resource.
Positive factors
- Good silver grade in indicated resource for Copper Sulphide zone
- JORC compliant estimate
Evidence · table
“57”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExploradora Prospect · goldTonnes: 1300000Grade: 0.16Grade Unit: ppmView all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:59ca22ffbd702adbe29e
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- indicated
- Tonnes
- 1300000
- Grade
- 0.16
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect contains a gold grade, adding to the polymetallic nature of the indicated resource.
Positive factors
- Gold grade present in indicated resource for Copper Sulphide zone
- JORC compliant estimate
Evidence · table
“0.16”
Context: 1.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExploradora Prospect · copperTonnes: 1500000Grade: 1.59Grade Unit: %View all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- copper
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:0b23f49ac6a53b6cb787
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 1.59
- Grade Unit
- %
- Cutoff Grade
- 0.8
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 2.8
- Metal Eq. Unit
- % CuEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect shows a good inferred copper grade and copper equivalent, indicating further potential but requiring more drilling to upgrade confidence.
Positive factors
- Good copper grade in inferred resource for Copper Sulphide zone
- Good copper equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“1.59”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExploradora Prospect · zincTonnes: 1500000Grade: 0.98Grade Unit: %View all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- zinc
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:0b23f49ac6a53b6cb787
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 0.98
- Grade Unit
- %
- Cutoff Grade
- 0.8
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 11.12
- Metal Eq. Unit
- % ZnEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect contains an inferred zinc grade and high zinc equivalent, adding significant polymetallic value but requiring more drilling to upgrade confidence.
Positive factors
- Zinc grade present in inferred resource for Copper Sulphide zone
- High zinc equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.98”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExploradora Prospect · leadTonnes: 1500000Grade: 0.33Grade Unit: %View all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- lead
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:0b23f49ac6a53b6cb787
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 0.33
- Grade Unit
- %
- Cutoff Grade
- 0.8
- Cutoff Unit
- % CuEq
Prior Estimate
- Resource Date
- 2026-06-19
Metal Equivalent
- Metal Eq. Grade
- 169
- Metal Eq. Unit
- ppm AgEq
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect contains an inferred lead grade and high silver equivalent, further diversifying the resource but requiring more drilling to upgrade confidence.
Positive factors
- Lead grade present in inferred resource for Copper Sulphide zone
- High silver equivalent grade
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.33”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExploradora Prospect · silverTonnes: 1500000Grade: 55Grade Unit: ppmView all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- silver
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:0b23f49ac6a53b6cb787
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 55
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect shows a good inferred silver grade, contributing to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Good silver grade in inferred resource for Copper Sulphide zone
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“55”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExploradora Prospect · goldTonnes: 1500000Grade: 0.12Grade Unit: ppmView all detailsHide details
Identity
- Project
- Exploradora Prospect
- Commodity
- gold
- Region
- chile
- Reported Region
- Chile
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Resource group id
- resource:0b23f49ac6a53b6cb787
- Deposit or zone
- Copper Sulphide
Resource Data
- Category
- inferred
- Tonnes
- 1500000
- Grade
- 0.12
- Grade Unit
- ppm
Prior Estimate
- Resource Date
- 2026-06-19
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: The Copper Sulphide zone at Exploradora Prospect contains an inferred gold grade, adding to the polymetallic nature but requiring more drilling to upgrade confidence.
Positive factors
- Gold grade present in inferred resource for Copper Sulphide zone
- JORC compliant estimate
Negative factors
- Lower confidence category (inferred)
Evidence · table
“0.12”
Context: 1.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
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: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCopper · copperTonnes: 8Grade: 0.99Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- copper
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:ec2df1e901f80451b839
Resource Data
- Category
- indicated
- Tonnes
- 8
- Grade
- 0.99
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.93
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.99 %”
Context: 8.0 Mt
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCopper · zincTonnes: 8Grade: 2.28Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- zinc
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:ec2df1e901f80451b839
Resource Data
- Category
- indicated
- Tonnes
- 8
- Grade
- 2.28
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.93
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“2.28 %”
Context: 8.0 Mt
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCopper · leadTonnes: 8Grade: 0.77Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- lead
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:ec2df1e901f80451b839
Resource Data
- Category
- indicated
- Tonnes
- 8
- Grade
- 0.77
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.93
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.77 %”
Context: 8.0 Mt
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCopper · silverTonnes: 8Grade: 57Grade Unit: g/tView all detailsHide details
Identity
- Project
- Copper
- Commodity
- silver
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:ec2df1e901f80451b839
Resource Data
- Category
- indicated
- Tonnes
- 8
- Grade
- 57
- Grade Unit
- g/t
Metal Equivalent
- Metal Eq. Grade
- 2.93
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“57 ppm”
Context: 8.0 Mt
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedCopper · goldTonnes: 8Grade: 0.24Grade Unit: g/tView all detailsHide details
Identity
- Project
- Copper
- Commodity
- gold
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:ec2df1e901f80451b839
Resource Data
- Category
- indicated
- Tonnes
- 8
- Grade
- 0.24
- Grade Unit
- g/t
Metal Equivalent
- Metal Eq. Grade
- 2.93
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.24 ppm”
Context: 8.0 Mt
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · copperTonnes: 3.8Grade: 0.82Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- copper
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c36fae58818bcce649d0
Resource Data
- Category
- inferred
- Tonnes
- 3.8
- Grade
- 0.82
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.8
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.82 %”
Context: 3.8 Mt
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · zincTonnes: 3.8Grade: 2.04Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- zinc
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c36fae58818bcce649d0
Resource Data
- Category
- inferred
- Tonnes
- 3.8
- Grade
- 2.04
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.8
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“2.04 %”
Context: 3.8 Mt
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · leadTonnes: 3.8Grade: 0.89Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- lead
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c36fae58818bcce649d0
Resource Data
- Category
- inferred
- Tonnes
- 3.8
- Grade
- 0.89
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.8
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.89 %”
Context: 3.8 Mt
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · silverTonnes: 3.8Grade: 61Grade Unit: g/tView all detailsHide details
Identity
- Project
- Copper
- Commodity
- silver
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c36fae58818bcce649d0
Resource Data
- Category
- inferred
- Tonnes
- 3.8
- Grade
- 61
- Grade Unit
- g/t
Metal Equivalent
- Metal Eq. Grade
- 2.8
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“61 ppm”
Context: 3.8 Mt
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · goldTonnes: 3.8Grade: 0.18Grade Unit: g/tView all detailsHide details
Identity
- Project
- Copper
- Commodity
- gold
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:c36fae58818bcce649d0
Resource Data
- Category
- inferred
- Tonnes
- 3.8
- Grade
- 0.18
- Grade Unit
- g/t
Metal Equivalent
- Metal Eq. Grade
- 2.8
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.18 ppm”
Context: 3.8 Mt
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · copperTonnes: 11.8Grade: 0.93Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- copper
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:8fae74e477867787b293
Resource Data
- Category
- inferred
- Tonnes
- 11.8
- Grade
- 0.93
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.88
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.93”
Context: 11.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · zincTonnes: 11.8Grade: 2.2Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- zinc
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:8fae74e477867787b293
Resource Data
- Category
- inferred
- Tonnes
- 11.8
- Grade
- 2.2
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.88
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“2.20”
Context: 11.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · leadTonnes: 11.8Grade: 0.81Grade Unit: %View all detailsHide details
Identity
- Project
- Copper
- Commodity
- lead
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:8fae74e477867787b293
Resource Data
- Category
- inferred
- Tonnes
- 11.8
- Grade
- 0.81
- Grade Unit
- %
Metal Equivalent
- Metal Eq. Grade
- 2.88
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.81”
Context: 11.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · silverTonnes: 11.8Grade: 58Grade Unit: g/tView all detailsHide details
Identity
- Project
- Copper
- Commodity
- silver
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:8fae74e477867787b293
Resource Data
- Category
- inferred
- Tonnes
- 11.8
- Grade
- 58
- Grade Unit
- g/t
Metal Equivalent
- Metal Eq. Grade
- 2.88
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“58”
Context: 11.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredCopper · goldTonnes: 11.8Grade: 0.22Grade Unit: g/tView all detailsHide details
Identity
- Project
- Copper
- Commodity
- gold
- Ticker
- NFL
Resource scope
- Estimate type
- resource
- Resource group id
- resource:8fae74e477867787b293
Resource Data
- Category
- inferred
- Tonnes
- 11.8
- Grade
- 0.22
- Grade Unit
- g/t
Metal Equivalent
- Metal Eq. Grade
- 2.88
- Metal Eq. Unit
- % CuEq
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.22”
Context: 11.8
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
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.