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. (NYSE American: NEWP) announced significant assay results from its 2021-2022 drilling program at Silver Sand. The 2021 program involved 13,313.7 meters across 55 holes, while 10,520 meters across 48 holes were completed in 2022. Noteworthy results include drill hole DSS529001, which intersected 86.03 meters grading 229 g/t silver, confirming high-grade mineralization continuity. The company plans to finish the 2022 drill program by April, with all assay results expected by June and an updated resource estimate by September.
New Pacific Metals Corp. announced assay results from eight drill holes at the Carangas Silver-Gold Project in Bolivia. All 25 drill holes reported intersected silver-rich polymetallic mineralization near surface. Notable results include drill hole DCAr0019 with 173.17 m grading 102 g/t silver, and DCAr0020, the only deep hole, intersecting 322.91 m grading 1.03 g/t gold. The company plans to expand its drilling program to up to 40,000 m in 2022, contingent on ongoing results.
New Pacific Metals Corp. has released assay results from six additional drill holes of its 2021 Discovery Drill Program at the Carangas Silver Project in Bolivia. The assay results indicate significant near-surface silver-rich polymetallic mineralization. Notable drill hole DCAr0016 shows a 148.48 m interval with 78 g/t Ag and 2.07% Pb+Zn, and an extensive gold mineralization zone underneath. A resource definition drilling program is set to commence in 2022, budgeting for 30,000 m of drilling, which may extend to 40,000 m based on results.
New Pacific Metals Corp. (NYSE American: NEWP) has announced updates on its Silver Sand Project in Bolivia, focusing on the ongoing preliminary economic assessment (PEA). Key points include an update on the Mineral Resource Estimate (MRE), plans to appoint a PEA specialist by the end of February, and a completion timeline for the PEA by the end of 2022. The update will incorporate recent drill results, adding to the 135 holes already analyzed. The company aims to conduct 15,000 meters of additional drilling, including new areas, to enhance resource estimates.
New Pacific Metals Corp. (NYSE: NEWP) announced its unaudited financial results for Q2 of fiscal 2022, ending December 31, 2021. The company reported a net loss of $1.3 million, or $0.01 per share, an improvement from a net loss of $1.8 million in the same quarter last year. Key highlights include successful metallurgical tests for the Silver Sand Project achieving 80% silver recovery, the completion of a significant drill program at the Carangas Project, and maintaining a strong working capital of $38.1 million to support ongoing projects.
New Pacific Metals Corp. (NYSE American: NEWP) announced the resignation of Dr. Mark Cruise as CEO and director, effective immediately. Dr. Rui Feng, the company's founder and former CEO until April 2020, has been appointed as the new CEO. Meanwhile, Dr. Feng has stepped down as Chairman, with Terry Salman now taking over that role. The company continues to focus on its precious metal projects in Bolivia, including the Silver Sand, Silverstrike, and Carangas projects, while aiming to enhance its Mineral Resources.
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.