Silver X Increases Measured and Indicated Resources 173% to 10.4 Mt at 213 g/t AgEq (70.8 Moz AgEq) and Inferred Resources 43% to 21.6 Mt at 252 g/t AgEq (180.9 Moz AgEq)
Original announcement by prospectors_exchange on
- Company
- Silver X Mining Corp.
- Ticker
- AGX
- Exchange
- Unavailable
- Region
- Peru
- Primary commodity
- Silver
- Secondary commodities
- Lead, Zinc
- Document categories
- Resource update
- Extracted
- 2026-09-22 14:24:58 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Silver X Mining Corp. has significantly updated its Mineral Resource Estimate for the Nueva Recuperada Project in Peru, nearly tripling its Measured and Indicated silver ounces. The update is driven by new estimates in the Tangana, Plata, and Red Silver mining units, including a new bulk tonnage resource at Blenda Rubia.
Reasoning: Massive expansion of resource scale and confidence levels across the Nueva Recuperada Project.
Positive factors
- Tonnage growth in M&I category (173%)
- Contained metal growth in M&I silver (211%)
- Significant increase in M&I confidence (85% of PEA inventory vs 31%)
- New bulk tonnage resource (Blenda Rubia) adds scale
- High-grade Red Silver unit remains a core driver
Facts used in scoring: 5
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Measured and Indicated tonnage increased 173% from 3.8 to 10.4 million tonnes.
Evidence · text
“Measured and Indicated tonnage up 173%, from 3.8 to 10.4 million tonnes”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Measured and Indicated silver ounces increased 211% from 13.4 to 41.8 million ounces.
Evidence · text
“Measured and Indicated silver up 211%, from 13.4 to 41.8 million ounces”
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: Mr. A. David Heyl, a qualified person, reviewed and approved the technical content.
Evidence · text
“The Qualified Person reviewed the lab facilities, databases, estimation procedures, model validation and QA/QC information and considers the data suitable”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The technical report supporting the MRE will be filed on SEDAR+ in accordance with NI 43-101.
Evidence · text
“File the NI 43-101 technical report supporting the updated MRE on SEDAR+ within 45 days.”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Resource Estimates (5)
indicatedNueva Recuperada Project · silverTonnes: 10400000Contained Metal: 70.8Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Nueva Recuperada Project
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AGX
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- A. David Heyl
- Resource group id
- resource:d415468b93797dbf006b
- Deposit or zone
- Nueva Recuperada Project
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 10400000
- Contained Metal
- 70.8
- Contained Unit
- moz
- Cutoff Grade
- 60
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 213
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- Bureau Veritas
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Major resource expansion.
Positive factors
- Significant tonnage and metal growth
Evidence · text
“Measured and Indicated resources now total 10.4 million tonnes containing 70.8 million ounces AgEq”
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredNueva Recuperada Project · silverTonnes: 21600000Contained Metal: 180.9Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Nueva Recuperada Project
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AGX
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- A. David Heyl
- Resource group id
- resource:bf430e93b61f7a820e35
- Deposit or zone
- Nueva Recuperada Project
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 21600000
- Contained Metal
- 180.9
- Contained Unit
- moz
- Cutoff Grade
- 60
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 252
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- Bureau Veritas
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Large scale inferred resource expansion.
Positive factors
- Substantial tonnage increase
Evidence · text
“Inferred resources total 21.6 million tonnes containing 180.9 million ounces AgEq”
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedNueva Recuperada Project · silverTonnes: 5500000Contained Metal: 19.8Contained Unit: million ounces ageqView all detailsHide details
Identity
- Project
- Nueva Recuperada Project
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AGX
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- A. David Heyl
- Resource group id
- resource:6261b0669456104f4c79
- Deposit or zone
- Blenda Rubia (BR)
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 5500000
- Contained Metal
- 19.8
- Contained Unit
- million ounces ageq
- Cutoff Grade
- 60
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Metal Eq. Grade
- 112
- Metal Eq. Unit
- g/t AgEq
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- Bureau Veritas
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Significant new resource type for the project.
Positive factors
- New bulk tonnage resource
- Amenable to bulk underground mining
Evidence · text
“BR contains 5.5 million Indicated tonnes grading 112 g/t AgEq for 19.8 million ounces AgEq”
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedNueva Recuperada Project · silverTonnes: 517171Grade: 623Grade Unit: g/tContained Metal: 10.4Contained Unit: mozView all detailsHide details
Identity
- Project
- Nueva Recuperada Project
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AGX
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- A. David Heyl
- Resource group id
- resource:fbad1d365a17cfad879c
- Deposit or zone
- Red Silver
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 517171
- Grade
- 623
- Grade Unit
- g/t
- Contained Metal
- 10.4
- Contained Unit
- moz
- Cutoff Grade
- 60
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- Bureau Veritas
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: High grade core of the project.
Positive factors
- High grade resource
Evidence · text
“Red Silver ... hosts 10.4 Moz of Measured and Indicated silver (0.52 Mt at 623 g/t Ag)”
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredNueva Recuperada Project · silverTonnes: 3110000Grade: 532Grade Unit: g/tContained Metal: 53.2Contained Unit: mozView all detailsHide details
Identity
- Project
- Nueva Recuperada Project
- Commodity
- silver
- Region
- peru
- Reported Region
- Peru
- Ticker
- AGX
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- A. David Heyl
- Resource group id
- resource:ea2c8709cdae0d1e5abf
- Deposit or zone
- Red Silver
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 3110000
- Grade
- 532
- Grade Unit
- g/t
- Contained Metal
- 53.2
- Contained Unit
- moz
- Cutoff Grade
- 60
- Cutoff Unit
- US$/t
Prior Estimate
- Resource Date
- 2026-08-31
Metal Equivalent
- Assumptions Disclosed
- Yes
Lab
- Laboratory
- Bureau Veritas
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: Significant scale in inferred category.
Positive factors
- High grade inferred resource
Evidence · text
“53.2 Moz of Inferred silver (3.11 Mt at 532 g/t Ag)”
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
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
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.