Welcome to our dedicated page for New Pac Metals news (Ticker: NEWP), a resource for investors and traders seeking the latest updates and insights on New Pac Metals stock.
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.
New Pacific Metals Corp. (TSX: NUAG, NYSE American: NEWP) has appointed Dr. Rui Feng as Chairman of the Board following the annual general meeting on December 3, 2021. Dr. Feng, who previously served as CEO from 2010 to April 2020, is the largest shareholder with a 28.3% stake. His leadership is expected to enhance the development of the flagship Silver Sand Project and the Carangas silver discovery in Bolivia. This move is positioned to leverage his experience and insights gained from previous projects, particularly in mineral exploration and resource acquisition.
New Pacific Metals Corp. announced the election of two new directors, Maria Tang and Terry Salman, at their annual general meeting held on December 3, 2021. Mr. Gregory Hawkins did not seek re-election, concluding his 11-year term. The new additions bring significant mining industry expertise to the board, enhancing governance as the company progresses its Silver Sand Project and the Carangas discovery in Bolivia. The AGM reported that 77.80% of outstanding shares were represented, with all resolutions approved, including the re-appointment of Deloitte LLP as auditors.
New Pacific Metals announced significant assay results from its Carangas Silver Project in Bolivia. The latest five drill holes intersected extensive zones of silver-rich polymetallic mineralization, confirming a large mineralized system. Key findings include:
- 176.77 m at 94 g/t AgEq from hole DCAr0011, with a high-grade sub-interval of 60.45 m at 169 g/t AgEq.
- 236.81 m at 64 g/t AgEq from hole DCAr0008, showing promising mineralization.
The Phase II drill program is expected to be completed by year-end, further exploring this promising area.
New Pacific Metals Corp. reported its financial results for Q1 fiscal 2022, ending September 30, 2021. The company maintained a strong working capital of $41.70 million to support ongoing projects, including the Silver Sand Project and Carangas Project. Highlights include successful metallurgical tests achieving 80% silver recovery and a completed Phase I drill program at Carangas. The net loss for the quarter was $1.38 million or $0.01 per share, up from a loss of $1.13 million a year earlier, affected mainly by operating expenses and a drop in investment income.
New Pacific Metals Corp. (NYSE American: NEWP) announced drilling results from the Carangas Silver Project in Bolivia, revealing substantial silver-rich mineralization. Highlights include 228.3 m at 73 g/t AgEq and 182.5 m at 89 g/t AgEq, starting from the surface. The Phase I drill program has successfully intercepted broad zones of polymetallic mineralization, prompting the initiation of a Phase II drill program aimed at defining the mineralized system further. Assays from additional drill holes are pending, and current results show significant mineralization remains open in all directions.
New Pacific Metals Corp. (NYSE American: NEWP) has announced an expanded discovery drill program at its Carangas Silver Project in Bolivia. The company has mobilized two additional drill rigs, bringing the total to three, to complete approximately 7,500 meters of diamond drilling by year-end 2021. The initial Phase I program successfully identified broad zones of silver-rich mineralization, resulting in the new Phase II program designed to further delineate this mineralized area. The expanding core processing facilities and technical team support this initiative.
New Pacific Metals Corp. (NEWP) reported promising results from its metallurgical test program at the Silver Sand deposit in Bolivia. The heap leach method achieved an 80% recovery rate for silver, indicating lower capital and operational costs compared to alternatives. The resource includes 35.39 million tonnes of Measured and Indicated resources at 137 g/t silver, amounting to 155.85 million ounces. Future work will focus on refining recovery processes, with a Preliminary Economic Assessment expected in the first half of 2022.
New Pacific Metals Corp. (TSX: NUAG, NYSE American: NEWP) announced the filing of its fiscal 2021 annual report on Form 40-F with the U.S. SEC. This report includes the company’s annual audited financial statements, management’s discussion and analysis, and annual information form. Investors can access the report on New Pacific’s website and the SEC's site. The company is focused on developing its precious metal projects in Bolivia, including the Silver Sand Project, while growing its mineral resources through exploration and acquisitions.
New Pacific Metals Corp. (NYSE American: NEWP) has received an Administrative Mining Contract (AMC) for its Silver Sand Project in Bolivia from the Jurisdictional Mining Administrative Authority (AJAM). The AMC grants clear title to mineral rights covering 3.17 km², with a total controlled area of 5.42 km² after consolidation. Necessary registration and notarization processes have been completed, with the AMC signed in 2020, registered on June 17, 2021, and published on July 15, 2021. CEO Mark Cruise expressed satisfaction with this development, which supports the company's ongoing 2021 drill program.
New Pacific Metals Corp. (NYSE-A: NEWP) has launched a 38,000 metre diamond drill program at its Silver Sand Project in Bolivia. This program aims to expand existing mineral resources and explore new feeder zones, with approximately 80% of drilling focused on resource expansion. The program includes 5,000 m dedicated to feeder zone testing and 8,000 m for geotechnical studies. Progress includes two active drill rigs, with plans to increase to four by August 2021. Environmental and socio-economic studies are also underway.