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Magma Silver ( (TSE:MGMA) ) has provided an update.
Magma Silver Corp. has announced a new drill program for its Niñobamba project in Peru, set to begin in Q1 2026. The program aims to confirm and expand upon previous exploration results from Newmont Mining Corp. and will be executed in two phases, with a total of 4,000 meters of drilling. The initiative is supported by a significant budget increase to US$1,000,000, allowing for thorough testing and confirmation of prior findings. This strategic move is expected to enhance Magma’s operational efficiency and strengthen its position in the precious metals market.
More about Magma Silver
Magma Silver Corp. is a natural resources exploration company focused on acquiring, exploring, developing, and operating precious metal mining projects. The company is listed on the TSX Venture Exchange, OTCQB, and Frankfurt Exchange, with its primary focus on the Niñobamba silver-gold project in Peru. The project is situated in a prolific geological belt and has seen significant exploration investment from major companies, demonstrating its resource potential.
YTD Price Performance: 78.86%
Average Trading Volume: 387,427
Technical Sentiment Signal: Buy
Current Market Cap: C$16.08M
For a thorough assessment of MGMA stock, go to TipRanks’ Stock Analysis page.