New Pacific Metals Corp. reports developments for a Canadian exploration and development company focused on precious metals projects in Bolivia. Its recurring updates center on the Silver Sand silver project in Potosí and the Carangas silver-gold project in Oruro, including permitting activity, community agreements, project work plans, mineral-property spending and Bolivian mining context.
The company also reports interim financial results, bought deal financing activity, annual shareholder meeting results, board and executive appointments, and other governance matters. Its common shares trade on the TSX under NUAG and on the NYSE American under NEWP.
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New Pacific Metals Corp. (TSX: NUAG, NYSE American: NEWP) announced assay results from the final 29 drill holes of its 2022 program at the Carangas Silver-Gold Project in Bolivia. All 115 holes drilled in 2022 have now been reported. Notable results include deep holes showing a gold interval of 306.95 m grading 1.2 g/t Au and 26 g/t Ag. Shallow holes confirmed near-surface silver mineralization, with significant intervals of up to 110.15 m grading 136 g/t Ag. The Company is nearing completion of a 15,000 m drill program, with resource estimation expected in Q2 2023. Additionally, an expanded IP survey revealed multiple chargeability anomalies, indicating further drill targets beyond the current drilling area.
New Pacific Metals Corp. (NYSE American: NEWP) announced updates on its three precious metal projects in Bolivia as of March 15, 2023. The Silver Sand Project is progressing with plans to complete a pre-feasibility study and secure an Environmental Impact Statement from the Bolivian Ministry. The Carangas Project is on schedule for a 15,000-meter drill program by March's end, with the first mineral resource estimate expected by mid-2023. However, exploration at the Silverstrike Project has been paused to prioritize Silver Sand and Carangas. A preliminary economic assessment reported a post-tax NPV of US$726 million for Silver Sand, alongside a 39% IRR, indicating strong economic viability.
New Pacific Metals Corp. (NEWP) has announced significant drill results from hole DCAr0096 at the Carangas Silver-Gold Project in Bolivia. Assay results reveal a substantial silver horizon with intervals of 94 g/t Ag and a notable gold zone with 524 m grading 1.24 g/t Au and 8 g/t Ag. The findings indicate high-grade gold associated with rhyolite intrusions, extending mineralization 60 m northeast from previous drilling. A total of 86 out of 115 holes drilled in 2022 have been analyzed, with future drilling planned to further explore gold mineralization. The company emphasizes stringent QA/QC protocols for the exploration program.
New Pacific Metals Corp. (NYSE American: NEWP) announced the filing of an independent Preliminary Economic Assessment (PEA) for its Silver Sand project in Potosi, Bolivia, effective November 30, 2022. The assessment, prepared under NI 43-101 standards, suggests a post-tax Net Present Value (NPV) of US$726 million and an Internal Rate of Return (IRR) of 39% based on a projected silver production of 171 million ounces over 14 years. The report involves several Qualified Persons from AMC Mining Consultants and Halyard Inc. and is accessible on SEDAR, EDGAR, and the company’s website.
New Pacific Metals Corp. (NYSE American: NEWP) reported its financial results for Q2 FY2023, ending December 31, 2022. The company posted a net loss of $1.87 million ($0.01 per share), compared to a loss of $1.30 million in the same quarter the previous year. Major highlights include a preliminary economic assessment (PEA) for the Silver Sand Project, indicating a net present value (NPV) of $726 million and an internal return rate (IRR) of 39%. Working capital stood at $14.4 million, enabling continued exploration of key projects. Operating expenses increased to $1.93 million from $1.36 million year-over-year.
New Pacific Metals Corp. (NEWP) has released assay results from the 2022 drill program at its Carangas Silver-Gold Project in Bolivia. The results cover 42 additional drill holes, indicating broad silver mineralization across a significant area, with 41 of the holes showing promising results. Highlights include drill hole DCAr0075, which reported a 230.26 m interval grading 146 g/t silver. The inaugural mineral resource estimate is expected later this year, aligning with the positive findings confirming the continuity of mineralization over a substantial area.
New Pacific Metals Corp. has appointed Andrew Williams as President, effective immediately. Williams will manage corporate development initiatives and investor relations, while supporting project development and growth. He joins from Sun Valley Gold LLC, bringing over 15 years of mining investment experience. Williams plans to contribute significantly to the company's Silver Sand and Carangas projects in Bolivia. He will also invest C$250,000 in New Pacific shares at a 10% discount, with additional subscription from newly elected director Dickson Hall, totaling C$300,000. The share purchase is subject to Toronto Stock Exchange approval.
New Pacific Metals Corp. (NYSE: NEWP) announced assay results from four deep drill holes at its Carangas Silver-Gold Project in Bolivia. A total of 50,368 m was drilled in 2022, with results from 43 holes released. Notable intercepts include hole DCAr0094, with a 504.62 m gold interval grading 1.22 g/t Au and 13 g/t Ag. The company plans to drill an additional 15,000 m in Q1 2023 to expand gold mineralization and will conduct a resource estimate in Q2 2023. New Pacific's rigorous quality control measures ensure the reliability of the results, as verified by its qualified personnel.