# Pan American Announces Revised PEA for the La Colorada Skarn Project, Positions La Colorada as a Future Top-tier Silver Mine

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507

Original source: https://money.tmx.com/en/quote/PAAS/news/6546744306525070/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l

Publisher: tmx

Original announcement: 2026-03-24T21:37:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Pan American Silver Corp.

- Ticker: PAAS

- Exchange: TSX

- Region: Zacatecas, Mexico

- Primary commodity: Silver

- Secondary commodities: Zinc, Lead, Gold

- Document categories: Resource update, Metallurgy

- Extracted: 2026-08-26 02:46:16 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Pan American Silver announced a Revised Preliminary Economic Assessment \(PEA\) for its La Colorada Skarn Project in Mexico, projecting it as a future top-tier silver mine. The PEA outlines a 37-year mine life with average annual silver production of 15.8 Moz \(initial 5 years\) and an after-tax NPV \(5%\) of $2.6 billion. The plan incorporates a more selective mining method, leading to significantly improved grades and negative all-in sustaining costs for silver.

Reasoning: The revised PEA presents a substantially improved economic and operational outlook for the La Colorada Skarn Project, projecting it as a major, low-cost silver producer with significant upside potential, despite the preliminary study stage and substantial upfront capital.

- Positive factor: Significant increase in projected silver production and mine life, positioning La Colorada as a top-tier silver mine.

- Positive factor: Attractive project economics with a $2.6 billion after-tax NPV \(5%\) and 17% IRR at base case prices.

- Positive factor: Improved grades for silver, zinc, and lead compared to the previous PEA, driven by a more selective mining method.

- Positive factor: Low projected all-in sustaining costs \(AISC\) of negative $22.67/oz silver \(initial 5-year average\) due to strong byproduct credits.

- Positive factor: De-risked development plan utilizing conventional long-hole open stoping and no additional permitting required for initial access.

- Positive factor: Significant potential for mineral resource expansion with ongoing exploration drilling intersecting mineralization outside current models.

- Negative factor: The PEA is preliminary in nature and includes inferred mineral resources, which are considered too speculative for reserve classification.

- Negative factor: High initial capital expenditure of $1.9 billion, although expected to be funded through internal cash flow.

Facts used in scoring: 74

## Classification and evidence

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The Revised PEA for the La Colorada Skarn Project was prepared in accordance with NI 43-101 standards, and the mineral resource estimates are reported in accordance with these guidelines.

Evidence · text

> The Revised PEA for the La Colorada Skarn Project was prepared in accordance with NI 43-101 standards.

**QP/CP Signed**

Polarity: positive

Definition: 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 mineral resource estimate was prepared under the supervision of, or was reviewed by Christopher Emerson, FAusIMM, Christopher Wright, P.Geo and Martin Wafforn P.Eng. who are qualified persons as defined in NI 43-101.

Evidence · text

> This mineral resource estimate was prepared under the supervision of, or was reviewed by Christopher Emerson, FAusIMM, Christopher Wright, P.Geo and Martin Wafforn P.Eng. who are qualified persons as defined in NI 43-101.

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The Revised PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

Evidence · text

> The Revised PEA for the La Colorada Skarn Project is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the Revised PEA will be realized.

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The document refers to the 'newly identified silver mineral resource' and 'newly discovered high-grade silver veins and replacement mineralization', indicating new resource components.

Evidence · text

> newly identified silver mineral resource in the eastern Candelaria area of the existing La Colorada mine concurrently with the higher grade portions of the skarn deposit

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: The document is titled 'Pan American Announces Revised PEA for the La Colorada Skarn Project' and refers to the 'mineral resource update effective as at June 30, 2025'.

Evidence · text

> Pan American Announces Revised PEA for the La Colorada Skarn Project

**PFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.

Why it applies: The document states that 'mine design and sequencing will continue to be refined during the pre-feasibility study stage of the La Colorada Skarn Project'.

Evidence · text

> mine design and sequencing will continue to be refined during the pre-feasibility study stage of the La Colorada Skarn Project

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: The LOM average silver recovery for the Skarn Project is estimated at 89.7%, which is strong for a polymetallic deposit processed by flotation.

Evidence · text

> Overall silver recovery is estimated at approximately 89.7%

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: The project includes building a new 15,000 tpd conventional selective flotation plant.

Evidence · text

> construction of a new 15,000 tpd conventional selective flotation plant

**Multi-Domain Tested**

Polarity: positive

Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed.

Why it applies: The metallurgical testing is described as demonstrating that 'the skarn mineralization responds well to conventional selective flotation', implying testing across the skarn domain.

Evidence · text

> Metallurgical testing completed for the La Colorada Skarn Project demonstrates that the skarn mineralization responds well to conventional selective flotation mineral processing methods

## Extracted facts

Stored fact records: 74. Some facts used in scoring do not have a stored record.

## Resource Estimates (74)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-0)

La Colorada Skarn Project · zinc

#### Identity

- Project: La Colorada Skarn Project
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 265400000
- Grade: 2.85
- Grade Unit: %
- Contained Metal: 7.6
- Contained Unit: million tonnes
- Cutoff Grade: 50

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence.

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 2.85

Context: 265.4

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-1)

La Colorada Skarn Project · lead

#### Identity

- Project: La Colorada Skarn Project
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 265400000
- Grade: 1.37
- Grade Unit: %
- Contained Metal: 3.6
- Contained Unit: million tonnes
- Cutoff Grade: 50

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated lead resource for the Skarn Project is substantial, providing significant byproduct value to the project.

- Positive factor: Large indicated resource tonnage for lead.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 1.37

Context: 265.4

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-2)

La Colorada Skarn Project · silver

#### Identity

- Project: La Colorada Skarn Project
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 265400000
- Grade: 36
- Grade Unit: g/t
- Contained Metal: 309
- Contained Unit: million ounces
- Cutoff Grade: 50

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated silver resource for the Skarn Project is a very large, high-confidence base for the project's primary commodity, supporting its top-tier potential.

- Positive factor: Very large indicated resource for silver, contributing to the project's primary commodity focus.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 36

Context: 265.4

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-3)

La Colorada Skarn Project · zinc

#### Identity

- Project: La Colorada Skarn Project
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 61700000
- Grade: 2.55
- Grade Unit: %
- Contained Metal: 1.6
- Contained Unit: million tonnes
- Cutoff Grade: 50

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence.

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 2.55

Context: 61.7

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-4)

La Colorada Skarn Project · lead

#### Identity

- Project: La Colorada Skarn Project
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 61700000
- Grade: 0.95
- Grade Unit: %
- Contained Metal: 0.6
- Contained Unit: million tonnes
- Cutoff Grade: 50

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred lead resource provides additional byproduct potential, but its lower confidence category requires further work.

- Positive factor: Significant inferred resource tonnage for lead, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 0.95

Context: 61.7

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-5)

La Colorada Skarn Project · silver

#### Identity

- Project: La Colorada Skarn Project
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 61700000
- Grade: 30
- Grade Unit: g/t
- Contained Metal: 59
- Contained Unit: million ounces
- Cutoff Grade: 50

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred silver resource contributes to the project's long-term potential, but its speculative nature means it cannot be converted to reserves without further work.

- Positive factor: Significant inferred resource for silver, adding to the project's overall scale.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 30

Context: 61.7

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-6)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 300
- Grade Unit: g/t
- Contained Metal: 33.2
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base.

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 300

Context: 3.4

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-7)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 0.21
- Grade Unit: g/t
- Contained Metal: 23
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven gold reserves provide minor byproduct credits, contributing to the overall economics of the vein mine.

- Positive factor: Gold as a byproduct in the proven reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Low gold grade, indicating it's a minor byproduct.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 0.21

Context: 3.4

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-8)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 1.24
- Grade Unit: %
- Contained Metal: 42
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven lead reserves contribute to byproduct credits, enhancing the vein mine's economic profile.

- Positive factor: Lead as a byproduct in the proven reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 1.24

Context: 3.4

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-9)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 2.17
- Grade Unit: %
- Contained Metal: 75
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven zinc reserves provide valuable byproduct credits, supporting the vein mine's economic viability.

- Positive factor: Zinc as a byproduct in the proven reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 2.17

Context: 3.4

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-10)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 295
- Grade Unit: g/t
- Contained Metal: 57.5
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable silver reserves represent a significant, economically viable portion of the existing mine, contributing to its long-term production.

- Positive factor: High-grade silver in the probable reserve category, indicating good confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 295

Context: 6.1

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-11)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 0.21
- Grade Unit: g/t
- Contained Metal: 40
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable gold reserves provide minor byproduct credits, supporting the overall economics of the vein mine.

- Positive factor: Gold as a byproduct in the probable reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Low gold grade, indicating it's a minor byproduct.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 0.21

Context: 6.1

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-12)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 1.2
- Grade Unit: %
- Contained Metal: 73
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable lead reserves contribute to byproduct credits, enhancing the vein mine's economic profile.

- Positive factor: Lead as a byproduct in the probable reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 1.20

Context: 6.1

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-13)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 2.21
- Grade Unit: %
- Contained Metal: 134
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable zinc reserves provide valuable byproduct credits, supporting the vein mine's economic viability.

- Positive factor: Zinc as a byproduct in the probable reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 2.21

Context: 6.1

### proven\_probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-14)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: proven\_probable
- Tonnes: 9500000
- Grade: 297
- Grade Unit: g/t
- Contained Metal: 90.7
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined proven and probable silver reserves represent a robust and economically viable foundation for the existing vein mine.

- Positive factor: Large combined proven and probable silver reserves, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 297

Context: 9.5

### proven\_probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-15)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: proven\_probable
- Tonnes: 9500000
- Grade: 0.21
- Grade Unit: g/t
- Contained Metal: 64
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined proven and probable gold reserves provide minor byproduct credits, contributing to the overall economics of the vein mine.

- Positive factor: Gold as a byproduct in the combined proven and probable reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Low gold grade, indicating it's a minor byproduct.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 0.21

Context: 9.5

### proven\_probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-16)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: proven\_probable
- Tonnes: 9500000
- Grade: 1.21
- Grade Unit: %
- Contained Metal: 115
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined proven and probable lead reserves contribute to byproduct credits, enhancing the vein mine's economic profile.

- Positive factor: Lead as a byproduct in the combined proven and probable reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 1.21

Context: 9.5

### proven\_probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-17)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: proven\_probable
- Tonnes: 9500000
- Grade: 2.19
- Grade Unit: %
- Contained Metal: 208
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined proven and probable zinc reserves provide valuable byproduct credits, supporting the vein mine's economic viability.

- Positive factor: Zinc as a byproduct in the combined proven and probable reserve category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 2.19

Context: 9.5

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-18)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 229
- Grade Unit: g/t
- Contained Metal: 3
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base.

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 229

Context: 0.4

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-19)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 0.12
- Grade Unit: g/t
- Contained Metal: 2
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured gold resource provides minimal byproduct credits, but its high confidence is positive.

- Positive factor: Gold as a byproduct in the measured resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Very low gold grade, indicating it's a minor byproduct.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.12

Context: 0.4

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-20)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 0.91
- Grade Unit: %
- Contained Metal: 4
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured lead resource provides byproduct credits with high confidence, despite its small scale.

- Positive factor: Lead as a byproduct in the measured resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.91

Context: 0.4

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-21)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 1.55
- Grade Unit: %
- Contained Metal: 6
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured zinc resource provides byproduct credits with high confidence, despite its small scale.

- Positive factor: Zinc as a byproduct in the measured resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 1.55

Context: 0.4

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-22)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 144
- Grade Unit: g/t
- Contained Metal: 11.8
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated silver resource provides a good-confidence component to the vein mine's resource base, supporting future potential.

- Positive factor: Good grade silver in the indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 144

Context: 2.6

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-23)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 0.35
- Grade Unit: g/t
- Contained Metal: 29
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated gold resource provides minor byproduct credits, contributing to the overall economics of the vein mine.

- Positive factor: Gold as a byproduct in the indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Low gold grade, indicating it's a minor byproduct.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.35

Context: 2.6

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-24)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 0.68
- Grade Unit: %
- Contained Metal: 17
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated lead resource provides byproduct credits with good confidence, supporting the vein mine's economic profile.

- Positive factor: Lead as a byproduct in the indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.68

Context: 2.6

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-25)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 1.14
- Grade Unit: %
- Contained Metal: 29
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource provides valuable byproduct credits with good confidence, supporting the vein mine's economic viability.

- Positive factor: Zinc as a byproduct in the indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 1.14

Context: 2.6

### measured\_indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-26)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: measured\_indicated
- Tonnes: 3000000
- Grade: 156
- Grade Unit: g/t
- Contained Metal: 14.8
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined measured and indicated silver resources provide a good-confidence component to the vein mine's resource base.

- Positive factor: Combined measured and indicated silver resources, indicating good confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 156

Context: 3.0

### measured\_indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-27)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: measured\_indicated
- Tonnes: 3000000
- Grade: 0.32
- Grade Unit: g/t
- Contained Metal: 30
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined measured and indicated gold resources provide minor byproduct credits, contributing to the overall economics of the vein mine.

- Positive factor: Gold as a byproduct in the combined measured and indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Low gold grade, indicating it's a minor byproduct.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.32

Context: 3.0

### measured\_indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-28)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: measured\_indicated
- Tonnes: 3000000
- Grade: 0.71
- Grade Unit: %
- Contained Metal: 21
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined measured and indicated lead resources provide byproduct credits with good confidence, supporting the vein mine's economic profile.

- Positive factor: Lead as a byproduct in the combined measured and indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.71

Context: 3.0

### measured\_indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-29)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: measured\_indicated
- Tonnes: 3000000
- Grade: 1.2
- Grade Unit: %
- Contained Metal: 36
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The combined measured and indicated zinc resources provide valuable byproduct credits with good confidence, supporting the vein mine's economic viability.

- Positive factor: Zinc as a byproduct in the combined measured and indicated resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 1.20

Context: 3.0

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-30)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 297
- Grade Unit: g/t
- Contained Metal: 146.5
- Contained Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred silver resource for the vein mine adds substantial potential, but its speculative nature means it cannot be converted to reserves without further work.

- Positive factor: Large inferred resource for silver, indicating significant future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 297

Context: 15.3

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-31)

La Colorada Vein Mine · gold

#### Identity

- Project: La Colorada Vein Mine
- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 0.27
- Grade Unit: g/t
- Contained Metal: 132
- Contained Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred gold resource provides minor byproduct credits, but its speculative nature requires further work.

- Positive factor: Gold as a byproduct in the inferred resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Low gold grade, indicating it's a minor byproduct.

- Negative factor: Inferred category carries higher geological uncertainty.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 0.27

Context: 15.3

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-32)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 1.93
- Grade Unit: %
- Contained Metal: 295
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred lead resource provides byproduct credits, but its speculative nature requires further work.

- Positive factor: Lead as a byproduct in the inferred resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 1.93

Context: 15.3

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-33)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 3.39
- Grade Unit: %
- Contained Metal: 520
- Contained Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource provides valuable byproduct credits, but its speculative nature requires further work.

- Positive factor: Zinc as a byproduct in the inferred resource category.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 3.39

Context: 15.3

### Fact 35

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-34)

La Colorada Skarn Project · silver

#### Identity

- Project: La Colorada Skarn Project
- Commodity: silver
- Ticker: PAAS

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The good silver grade in the zinc concentrate demonstrates effective recovery of silver as a valuable byproduct.

- Positive factor: Good silver grade in zinc concentrate, indicating efficient recovery of silver as a byproduct.

- Positive factor: Achieved through conventional selective flotation, suggesting a robust process.

Evidence · text

> 140 g/t silver in the zinc concentrate

### Fact 36

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-35)

La Colorada Skarn Project · zinc

#### Identity

- Project: La Colorada Skarn Project
- Commodity: zinc
- Ticker: PAAS

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The high-grade zinc concentrate produced through conventional flotation is a positive indicator for marketability and revenue generation.

- Positive factor: High-quality zinc concentrate grade, indicating good marketability.

- Positive factor: Achieved through conventional selective flotation, suggesting a robust process.

Evidence · text

> 59% zinc with approximately 140 g/t silver in the zinc concentrate

### Fact 37

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-36)

La Colorada Skarn Project · lead

#### Identity

- Project: La Colorada Skarn Project
- Commodity: lead
- Ticker: PAAS

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The high-grade lead concentrate produced through conventional flotation is a positive indicator for marketability and revenue generation.

- Positive factor: High-quality lead concentrate grade, indicating good marketability.

- Positive factor: Achieved through conventional selective flotation, suggesting a robust process.

Evidence · text

> high-quality marketable concentrates grading approximately 61% lead

### Fact 38

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-37)

La Colorada Vein Mine · silver

#### Identity

- Project: La Colorada Vein Mine
- Commodity: silver
- Ticker: PAAS

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The very high silver recovery from the existing vein mine demonstrates robust and proven metallurgical performance.

- Positive factor: Very high silver recovery for the vein mine, indicating excellent metallurgical performance.

- Negative factor: This is a restatement of existing metallurgical performance, not new information.

Evidence · table

> 92.8

Context: 90.1

### Fact 39

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-38)

La Colorada Vein Mine · zinc

#### Identity

- Project: La Colorada Vein Mine
- Commodity: zinc
- Ticker: PAAS

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The high zinc recovery from the existing vein mine contributes to its byproduct credits and overall economic viability.

- Positive factor: High zinc recovery for the vein mine, indicating strong metallurgical performance for a key byproduct.

- Negative factor: This is a restatement of existing metallurgical performance, not new information.

Evidence · table

> 89.2

Context: 93.4

### Fact 40

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-39)

La Colorada Vein Mine · lead

#### Identity

- Project: La Colorada Vein Mine
- Commodity: lead
- Ticker: PAAS

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The high lead recovery from the existing vein mine contributes to its byproduct credits and overall economic viability.

- Positive factor: High lead recovery for the vein mine, indicating strong metallurgical performance for a key byproduct.

- Negative factor: This is a restatement of existing metallurgical performance, not new information.

Evidence · table

> 88.2

Context: 86.3

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-40)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 265400000
- Grade: 7.6
- Grade Unit: million tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 7.6

Context: 265.4

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-41)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 265400000
- Grade: 3.6
- Grade Unit: million tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 3.6

Context: 265.4

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-42)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 265400000
- Grade: 309
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 309

Context: 265.4

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-43)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 61700000
- Grade: 1.6
- Grade Unit: million tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 1.6

Context: 61.7

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-44)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 61700000
- Grade: 0.6
- Grade Unit: million tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 0.6

Context: 61.7

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-45)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 61700000
- Grade: 59
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 59

Context: 61.7

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-46)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 33.2
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 33.2

Context: 3.4

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-47)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 23
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 23

Context: 3.4

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-48)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 42
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 42

Context: 3.4

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-49)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 3400000
- Grade: 75
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 75

Context: 3.4

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-50)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 57.5
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable silver reserves represent a significant, economically viable portion of the existing mine, contributing to its long-term production. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the probable reserve category, indicating good confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 57.5

Context: 6.1

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-51)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 40
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable silver reserves represent a significant, economically viable portion of the existing mine, contributing to its long-term production. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the probable reserve category, indicating good confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 40

Context: 6.1

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-52)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 73
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable silver reserves represent a significant, economically viable portion of the existing mine, contributing to its long-term production. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the probable reserve category, indicating good confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 73

Context: 6.1

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-53)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: probable
- Tonnes: 6100000
- Grade: 134
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The probable silver reserves represent a significant, economically viable portion of the existing mine, contributing to its long-term production. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the probable reserve category, indicating good confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 134

Context: 6.1

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-54)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 9500000
- Grade: 90.7
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 90.7

Context: 9.5

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-55)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 9500000
- Grade: 64
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 64

Context: 9.5

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-56)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 9500000
- Grade: 115
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 115

Context: 9.5

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-57)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: proven
- Tonnes: 9500000
- Grade: 208
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The proven silver reserves represent a high-confidence, economically viable portion of the existing mine, providing a stable production base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the proven reserve category, indicating high confidence and economic viability.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: This is a restatement of existing reserves, not new information.

Evidence · table

> 208

Context: 9.5

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-58)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 3
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 3.0

Context: 0.4

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-59)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 2
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 2

Context: 0.4

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-60)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 4
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 4

Context: 0.4

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-61)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 400000
- Grade: 6
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 6

Context: 0.4

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-62)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 11.8
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 11.8

Context: 2.6

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-63)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 29
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 29

Context: 2.6

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-64)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 17
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 17

Context: 2.6

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-65)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: indicated
- Tonnes: 2600000
- Grade: 29
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The indicated zinc resource for the Skarn Project is substantial in tonnage and grade, contributing significantly to the project's economics and confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large indicated resource tonnage for zinc.

- Positive factor: Grade of 2.85% Zn is strong for a skarn deposit.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

Evidence · table

> 29

Context: 2.6

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-66)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 3000000
- Grade: 14.8
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 14.8

Context: 3.0

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-67)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 3000000
- Grade: 30
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 30

Context: 3.0

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-68)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 3000000
- Grade: 21
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 21

Context: 3.0

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-69)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: measured
- Tonnes: 3000000
- Grade: 36
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The measured silver resource, though small, provides a high-confidence component to the vein mine's resource base. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: High-grade silver in the measured resource category, indicating very high confidence.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Relatively small tonnage in the measured category.

- Negative factor: This is a restatement of existing resources, not new information.

Evidence · table

> 36

Context: 3.0

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-70)

silver

#### Identity

- Commodity: silver
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 146.5
- Grade Unit: million ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 146.5

Context: 15.3

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-71)

gold

#### Identity

- Commodity: gold
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 132
- Grade Unit: thousand ounces

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 132

Context: 15.3

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-72)

lead

#### Identity

- Commodity: lead
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 295
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 295

Context: 15.3

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/pan-american-announces-revised-pea-for-the-la-colorada-skarn-project-positions-l--51b30567-b4ad-4e15-a471-caa640cef507#fact-resource-facts-73)

zinc

#### Identity

- Commodity: zinc
- Ticker: PAAS

#### Resource Data

- Category: inferred
- Tonnes: 15300000
- Grade: 520
- Grade Unit: thousand tonnes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-24T00:00:00.000Z

Reasoning: The inferred zinc resource adds significant potential to the project, though its preliminary nature requires further drilling to upgrade confidence. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Significant inferred resource tonnage for zinc, indicating future potential.

- Positive factor: Resource is NI 43-101 compliant and QP signed.

- Negative factor: Inferred category carries higher geological uncertainty.

Evidence · table

> 520

Context: 15.3

## 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.