Magma Silver Corp. is engaging with two local communities to establish surface access arrangements at its Niñobamba silver-gold project in the Department of Ayacucho, Peru, paving the way for systematic exploration along an eight-kilometre mineralized corridor.

The company holds the required permits to begin drilling on the Jorimina property once access agreements are finalized. In parallel, Magma is acquiring historical data, advancing exploration planning, and expanding its technical team.

Previous operators including Newmont, AngloGold Ashanti, Bear Creek, and Rio Silver have invested over C$14.5 million in historical exploration at Niñobamba across more than 9,700 metres of drilling. Magma's recent sampling across old mine workings north of Joramina Central returned an average of 5.32 g/t gold and 149.7 g/t silver from five samples, while a drift sampling program yielded 10 metres grading 2.32 g/t gold and a 5-metre composite returning 127.1 g/t silver. Sampling also noted the presence of galena and sphalerite in veins, which remain unassayed for lead and zinc and are interpreted to overlie an untested copper-lead-zinc porphyry target.

“Niñobamba represents a compelling opportunity to use modern exploration techniques to systematically advance a large, historically explored silver-gold system and the potential for a copper/lead/zinc porphyry system. Considerable exploration work and capital have already been invested in the Project by some of the world's leading mining companies, providing Magma with a technical foundation from which to advance the Project. Our immediate strategy is to continue advancing our background knowledge and team while working constructively with the communities toward appropriate and mutually beneficial access agreements. We believe this approach allows us to continue moving the Project forward while building the community relationships necessary for its long-term success.”

Coppernico Metals Inc. recently expanded the approved drill area at its Sombrero project within the surrounding region following environmental permit approval, sharing copper as a commodity focus within the district.

— Stephen Barley, Executive Chairman and CEO

Read the full announcement: Magma Silver Provides Update on Niñobamba Silver-Gold Project, Peru