Magma Silver Niñobamba Phase 2 Work Program Results

Core Insights - Magma Silver Corp. has provided an update on its Q3 work program for the Niñobamba silver-gold project in Peru, focusing on the Joramina and Randypata properties [1][3] - The exploration program aims to validate previous results and design a new drilling program, with initial findings confirming and exceeding historical data [3][10] Exploration Program Details - The Niñobamba project encompasses three properties totaling 4,100 hectares: Joramina, Randypata, and Ninobamba Main [3] - The Q3 work program included sampling and geological mapping, with a focus on the Joramina and Randypata Zones [3][6] - Phase 2 involved a 10-day field campaign, with 31 samples taken from the Joramina drift, yielding significant gold and silver results [5][6] Sampling Results - Drift sampling on the Joramina zone returned 10 meters of 2.32 grams Au/tonne and a 5-meter composite returning 4.085 ounces Ag/tonne [6][7] - Additional sampling near the drift showed 0.70 meters of 17.41 grams Au/tonne and 13.94 ounces Ag/tonne [8] - The Randypata zone yielded a random composite grab sample of 0.20 grams Au/tonne and 8.55 ounces Ag/tonne from a historic 2-kilometer silver anomaly [9] Future Plans - The company plans to design a new drill program to test the gold-silver mineralized structures with an optimal drill direction based on the findings [10] - A total of 70 samples were collected during Phase 2, with analyses conducted by an independent lab for quality control [11] Company Overview - Magma Silver Corp. is focused on exploring and developing precious metal mining projects, particularly the Niñobamba project in Peru, which spans an 8 km mineralized corridor [13] - The company has invested over C$14.5 million in the project to date, leveraging modern geological modeling and strong community relationships [13]