New Pacific Intersects 230 Metres Grading 146 Grams Per Tonne Silver at the Carangas Project, Bolivia

New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP), together with its local Bolivian partner, reports assay results for an additional 42 drill holes from the 2022 drill program at its Carangas Silver-Gold Project, Oruro Department, Bolivia. To date, assay results of 85 drill holes from the 115 holes drilled in 2022 have been received and released while results of the remaining 30 drill holes are pending. Detailed results and drill hole specifications are listed in Tables 1 and 2, as well as in Figure 1.

These 42 holes were drilled to define the continuity of the shallow silver mineralization on a grid with fifty-meter spacing. With the exception of one hole, all 41 drill holes intercepted broad silver mineralization, which further confirmed the continuity of the widespread shallow silver-lead-zinc polymetallic mineralization starting near surface in an area of up to 1,000 meters long by 800 m wide by 200m deep across the West Dome, the Central Valley and the East Dome. These drill hole results will be incorporated in the Project’s inaugural mineral resource estimate expected to be released later in the year.

HIGHLIGHTS OF DRILL RESULTS

230.26 m interval (53.74 m to 284 m) grading 146 g/t silver, 0.3% lead and 0.69% zinc, including 12.06 m interval (from 115.49 m to 127.55 m) grading 2,160 g/t Ag, 0.74% Pb, 1.74% Zn and 0.13% copper in Hole DCAr0075.

127.51 m interval (1.8 m to 129.31 m) grading 92 g/t Ag, 0.4% Pb and 0.41% Zn, including 15.2 m interval (90.05 m to 105.25 m) grading 200 g/t Ag, 0.35% Pb and 0.38% Zn in Hole DCAr0099.

188.20 m interval (20.0 m to 208.2 m) grading 63 g/t Ag, 0.3% Pb and 0.79% Zn, including 49.62 m interval (from 22.68 m to 72.3 m) grading 157 g/t Ag, 0.74% Pb and 2.02% Zn in Hole DCAr0080.

122.52 m interval (54.28 m to 176.8 m) grading 61 g/t Ag, 0.47% Pb and 0.83% Zn, including 54.9 m interval (from 55.46 m to 110.36 m) grading 120 g/t Ag, 0.71% Pb and 1.24% Zn in Hole DCAr0074.

237.0 m interval (26.3 m to 263.3 m) grading 59 g/t Ag, 0.41% Pb and 0.78% Zn, including 54.59 m interval (78.1 m to 132.69 m) grading 205 g/t Ag, 0.5% Pb and 1.41% Zn in Hole DCAr0085.

207.86 m interval (205.9 m to 413.76 m) grading 60 g/t Ag, 0.29% Pb and 0.5% Zn, including 21.76 m interval (265.0 m to 286.76 m) grading 128 g/t Ag, 0.27% Pb and 0.56% Zn in Hole DCAr0110.

149.68 m interval (4.42 m to 154.1 m) grading 57 g/t Ag, 0.44% Pb and 0.13% Zn, including 14.53 m interval (23.61 m to 38.14 m) grading 194 g/t Ag and 0.59% Pb in Hole DCAr0125.

148.84 m interval (46.2 m to 195.04 m) grading 50 g/t Ag, 0.28% Pb and 0.76% Zn, including 44.1 m interval (150.94 m to 195.04 m) grading 104 g/t Ag, 0.25% Pb and 0.55% Zn in Hole DCAr0083.

Table 1 Summary of Drill Hole Results
Hole_ID		Depth_from	Depth_to	Interval_m	Ag_g/t	Au_g/t	Pb_%	Zn_%	Cu_%	AgEq_g/t
DCAr0074		54.28	176.80	122.52	61		0.47	0.83	0.02	105
	incl.	55.46	110.36	54.90	120		0.71	1.24	0.02	184
		210.70	214.14	3.44	126		0.24	0.04	0.03	138
DCAr0075		53.74	284.00	230.26	146		0.30	0.69	0.01	180
	incl.	115.49	127.55	12.06	2,160		0.74	1.74	0.13	2,254
	incl.	196.22	225.00	28.78	132		0.20	0.28	0.01	148
DCAr0080		20.00	208.20	188.20	63		0.30	0.79	0.01	99
	incl.	22.68	72.30	49.62	157		0.74	2.02	0.02	248
DCAr0082		35.00	77.46	42.46	12		0.30	0.60	0.02	43
		85.47	99.82	14.35	46		0.57	1.24	0.01	105
		107.38	164.90	57.52	20		0.32	1.04	0.01	66
		185.97	195.37	9.40	5		0.32	0.59	0.02	38
		230.00	281.05	51.05	9		0.39	0.53	0.01	45
		293.26	301.51	8.25	3		0.34	0.50		33
		326.65	387.70	61.05	4		0.33	0.58	0.01	40
DCAr0083		46.20	195.04	148.84	50		0.28	0.76	0.01	85
	incl.	150.94	195.04	44.10	104		0.25	0.55	0.01	131
DCAr0084		8.00	20.81	12.81	10		0.43	0.23		30
		46.43	52.30	5.87	64		0.38	0.26		84
		73.31	127.72	54.41	36		0.22	0.61	0.01	64
		139.28	192.10	52.82	34		0.32	0.50	0.02	62
		213.32	225.43	12.11	103		0.11	0.14	0.01	112
DCAr0085		26.30	263.30	237.00	59		0.41	0.78	0.01	99
	incl.	78.10	132.69	54.59	205		0.50	1.41	0.02	269
DCAr0086		24.87	92.80	67.93	28		0.39	1.10		77
		105.14	147.27	42.13	15		0.18	0.50	0.01	38
		192.64	204.56	11.92	119		0.19	0.19	0.01	132
		211.84	214.45	2.61	58		0.13	0.11	0.08	74
		252.80	255.34	2.54	89		0.07	0.18	0.04	102
DCAr0087		68.30	127.23	58.93	33		0.31	0.56		62
		141.18	181.96	40.78	54		0.28	0.68	0.02	86
DCAr0088		6.80	138.70	131.90	49		0.42	1.04	0.01	97
	incl.	6.80	74.11	67.31	87		0.70	1.53	0.02	161
		145.17	165.25	20.08	28		0.09	0.22	0.01	39
		184.62	200.00	15.38	54		0.31	0.67	0.02	87
		217.20	221.40	4.20	47		0.22	0.30		64
		261.42	324.50	63.08	12		0.53	0.79	0.01	55
DCAr0089		4.77	137.23	132.46	25		0.26	0.15	0.01	39
		162.41	163.56	1.15	79		0.39	0.80	0.05	122
		173.69	176.12	2.43	41		0.11	0.28	0.01	54
		191.90	202.02	10.12	30		0.08	0.15	0.01	39
		207.00	208.08	1.08	33		1.10	3.11	0.05	173
DCAr0090		74.68	112.48	37.80	24		0.36	0.55	0.01	54
		146.85	203.00	56.15	119		0.30	0.18	0.02	135
		226.27	227.67	1.40	239		0.68	0.13	0.01	264
DCAr0091		1.45	14.93	13.48	34		0.28	0.02		43
		44.40	180.02	135.62	23		0.35	0.49	0.01	51
DCAr0092		10.80	127.13	116.33	37		0.45	0.77	0.01	77
	incl.	10.80	33.57	22.77	107		1.38	1.64	0.02	204
		136.90	227.10	90.20	12		0.19	0.49	0.01	35
DCAr0093		65.15	75.10	9.95	75		0.04	0.06		79
		116.27	125.97	9.70	23		0.13	0.14		32
		159.92	165.51	5.59	73		0.14	0.07	0.01	80
		173.95	188.30	14.35	92		0.18	0.23	0.02	107
		198.14	203.84	5.70	106		0.22	0.16	0.04	123
		232.27	236.26	3.99	33		0.05	0.05	0.01	36
		241.61	244.28	2.67	83		0.37	0.04	0.04	99
DCAr0095		7.50	43.50	36.00	23		0.36	0.01		34
		94.53	107.60	13.07	28		0.30	0.14		37
		140.65	142.85	2.20	173		1.07	0.66	0.01	206
		179.00	205.50	26.50	45		0.26	0.57	0.04	57
		299.50	310.00	10.50	57		0.03	0.06	0.04	62
DCAr0097		0.65	23.15	22.50	10		0.37	0.15	0.01	27
		47.18	72.23	25.05	13		0.14	1.00	0.01	51
		86.30	107.90	21.60	45		0.37	0.48	0.01	72
DCAr0098		20.10	83.50	63.40	38		0.73	0.70	0.01	84
		103.80	144.30	40.50	27		0.26	0.58	0.02	56
		162.54	191.80	29.26	15		0.35	1.07	0.02	63
		230.30	235.27	4.97	62		0.04	0.08		65
DCAr0099		1.80	129.31	127.51	92		0.40	0.41	0.02	119
	incl.	90.05	105.25	15.20	200		0.35	0.38	0.01	224
DCAr0100		7.36	11.20	3.84	51		0.38	0.02		63
		59.90	138.00	78.10	34		0.41	0.46	0.02	63
		157.90	198.20	40.30	13		0.23	0.66	0.01	43
		296.34	304.50	8.16	63		0.34	0.14	0.09	87
		310.60	328.36	17.76	56		0.41	0.07	0.08	79
DCAr0101		6.15	61.05	54.90	40		0.55	0.18	0.01	63
		70.60	130.35	59.75	18		0.21	0.64	0.01	46
		151.90	190.30	38.40	32		0.50	0.69	0.03	73
		208.60	214.55	5.95	35		0.36	0.38	0.01	59
		245.75	249.10	3.35	71		0.50	0.26		95
		259.00	260.10	1.10	257		0.51	0.27		281
		286.09	291.90	5.81	4		0.58	0.55		40
DCAr0102		26.17	138.65	112.48	22		0.25	0.69	0.01	54
		145.80	153.23	7.43	77		0.11	0.15		85
		161.39	193.03	31.64	87		0.18	0.30	0.01	102
		216.58	225.55	8.97	27		0.37	0.32		49
DCAr0103		2.00	94.40	92.40	19		0.48	0.24	0.02	43
DCAr0106		0.00	61.15	61.15	30		0.25	0.20	0.01	44
		95.00	191.54	96.54	52		0.47	1.01	0.02	102
	incl.	113.82	127.80	13.98	171		0.64	1.41		238
DCAr0107		31.60	89.95	58.35	23		0.38	1.06		70
		121.05	160.90	39.85	25		0.17	0.46	0.01	47
DCAr0108		17.51	77.09	59.58	7		0.21	0.86	0.03	45
		84.90	161.00	76.10	18		0.29	1.34	0.01	73
		186.07	195.40	9.33	12		0.80	1.04	0.05	76
		241.57	267.70	26.13	7		0.51	0.64		43
DCAr0109		52.54	137.63	85.09	49		0.26	0.57	0.01	76
DCAr0110		6.19	166.63	160.44	23		0.30	0.37	0.01	44
		189.45	192.09	2.64	155		0.32	0.66	0.01	188
		205.90	413.76	207.86	60	0.02	0.29	0.50	0.01	88
	incl.	265.00	286.76	21.76	128		0.27	0.56	0.01	156
	incl.	394.42	412.36	17.94	136	0.20	0.44	0.65	0.05	190
		435.42	448.85	13.43	27	0.04	0.20	0.27	0.14	59
DCAr0111		17.80	96.20	78.40	25		0.41	0.83		65
		117.57	163.80	46.23	28		0.59	1.60	0.01	99
		185.00	230.40	45.40	24		0.23	0.48	0.03	50
DCAr0113		0.70	26.20	25.50	45		0.18	0.13		55
		89.60	149.23	59.63	26		0.14	0.56	0.01	50
		161.90	202.59	40.69	16		0.11	0.53	0.04	41
DCAr0115		0.85	18.20	17.35	64		0.61	0.01		83
		179.00	181.63	2.63	13		0.24	2.41	0.03	103
DCAr0116		82.10	111.75	29.65	26		0.25	0.86		62
DCAr0118		0.90	29.90	29.00	35		0.53	0.01		51
		145.85	151.40	5.55	27		0.21	0.86	0.01	63
		161.54	164.34	2.80	39		0.21	0.43		60
		172.67	233.70	61.03	32		0.14	0.36	0.02	50
		245.07	376.40	131.33	33		0.17	0.35	0.01	50
		395.60	398.38	2.78	132		0.29	1.14	0.03	182
DCAr0119		2.00	10.00	8.00	17		0.30	0.26		35
		45.99	144.30	98.31	49		0.23	0.39		69
	incl.	54.15	76.60	22.45	133		0.25	0.48		157
		173.13	188.56	15.43	19		0.22	0.24	0.01	35
		215.90	221.30	5.40	104		0.10	0.08	0.01	111
		243.20	247.30	4.10	36		0.08	0.07		41
DCAr0120		2.00	71.00	69.00	20		0.71	0.25	0.01	49
		97.20	116.58	19.38	19		0.48	1.43	0.01	82
		122.06	250.45	128.39	47		0.20	0.43	0.01	68
	incl.	221.32	236.10	14.78	235		0.15	0.20	0.01	246
		259.40	262.00	2.60	182		0.17	0.11		190
DCAr0121		17.85	73.90	56.05	20		0.30	0.50		46
		91.75	226.30	134.55	28		0.33	0.93	0.02	71
	incl.	123.20	137.42	14.22	170		0.89	2.54	0.02	282
		241.00	269.00	28.00	5		0.28	0.51		30
DCAr0122		0.28	9.68	9.40	31		0.07			34
		136.00	145.00	9.00	8		0.14	0.76		38
DCAr0124		38.00	87.04	49.04	5		0.14	1.03		44
		96.70	112.40	15.70	16		0.50	1.12	0.02	70
		127.00	219.50	92.50	65		0.22	0.51	0.03	92
	incl.	154.13	167.87	13.74	342		0.26	0.59	0.08	378
		239.90	272.30	32.40	9		0.44	0.66		44
DCAr0125		4.42	154.10	149.68	57		0.44	0.13	0.01	75
	incl.	23.61	38.14	14.53	194		0.59	0.02	0.01	213
DCAr0127		1.75	9.00	7.25	32		0.20	0.02		39
		18.66	66.50	47.84	23		0.27	0.02		31
		74.00	85.70	11.70	52		2.06	0.34	0.04	127
		101.30	118.30	17.00	25		0.40	0.90	0.01	68
		124.00	137.30	13.30	7		0.12	0.47		27
		197.75	206.00	8.25	23		0.24	0.60	0.03	53
DCAr0129		NSR
DCAr0130		6.72	69.92	63.20	60		0.38	0.02	0.01	72
		136.71	145.66	8.95	5		0.18	0.63		31

Notes:
1.	Drill location, altitude, azimuth, and dip of drill holes are provided in Table 2
2.	Drill intercept is core length, and grade is length weighted. True width of mineralization is unknown due to early stage of exploration without adequate drill data.
3.	Calculation of silver equivalent (“AgEq”) is based on the long-term median of the August 2021 Street Consensus Commodity Price Forecasts, which are US$22.50/oz for Ag, US$0.95/lb for Pb, US$1.10/lb for Zn, US$3.40/lb for Cu, and US$1,600/oz for Au. The formula used for the AgEq calculation is as follows: AgEq = Ag g/t + Pb g/t * 0.0029 + Zn g/t * 0.00335 + Cu g/t * 0.01036 + Au g/t * 71.1111. This calculation assumes 100% recovery. Due to the early stage of the Project, the Company has not yet completed metallurgical test work on the mineralization encountered to date.
4.	A cut-off of 20 g/t AgEq is applied to calculate the length-weighted intercept. At times, samples lower than 20 g/t AgEq may be included in the calculation of consolidation of mineralized intercepts.

Figure 1 Simplified Geology and Drill Plan Map of the Carangas Project

Table 2 Summary of Drill Holes of the Carangas Project
Hole_ID	Easting	Northing	Altitude	Depth_m	Azimuth (°)	Dip (°)	Target
DCAr0074	539253.63	7905549.62	3908.13	270.00	20	-45	CV
DCAr0075	539184.30	7905367.61	3907.54	330.80	20	-45	CV
DCAr0080	539017.83	7905486.37	3925.90	273.20	20	-45	WD
DCAr0082	539243.67	7905232.72	3907.18	410.00	20	-45	CV
DCAr0083	539000.13	7905439.20	3918.51	281.00	20	-45	WD
DCAr0084	539310.72	7905420.37	3908.90	300.00	20	-45	CV
DCAr0085	539232.70	7905352.15	3908.55	302.00	20	-45	CV
DCAr0086	539038.10	7905534.61	3933.13	269.00	20	-45	WD
DCAr0087	539329.07	7905463.06	3909.26	278.00	20	-45	CV
DCAr0088	539329.07	7905463.06	3909.26	278.00	20	-45	WD
DCAr0089	538962.34	7905341.65	3906.50	350.00	20	-45	WD
DCAr0090	538824.50	7905374.46	3966.88	251.00	21	-45	CV
DCAr0091	539345.44	7905512.71	3909.47	300.00	20	-45	WD
DCAr0092	538826.12	7905542.19	4017.78	282.00	20	-50	WD
DCAr0093	538983.52	7905391.65	3909.81	302.00	20	-45	CV
DCAr0095	538790.94	7905511.15	4012.65	413.00	53	-45	WD
DCAr0097	539065.98	7905624.93	3944.91	293.00	20	-45	WD
DCAr0098	539310.38	7905344.11	3911.29	299.00	20	-45	ED
DCAr0099	539048.56	7905578.85	3939.95	254.00	20	-45	WD
DCAr0100	538852.80	7905494.87	3992.70	350.00	30	-40	WD
DCAr0101	539291.62	7905373.41	3908.72	350.00	20	-46	CV
DCAr0102	538948.20	7905456.67	3938.72	251.00	20	-48	WD
DCAr0103	538780.68	7905660.30	4053.77	200.00	215	-45	WD
DCAr0106	539287.52	7905279.08	3910.90	251.00	20	-45	ED
DCAr0107	538975.48	7905515.04	3947.22	200.00	20	-46	WD
DCAr0108	539290.54	7905218.10	3913.30	350.00	20	-45	ED
DCAr0109	538997.82	7905583.49	3963.61	250.00	20	-45	WD
DCAr0110	538835.81	7905370.47	3967.01	485.00	200	-45	WD
DCAr0111	539349.33	7905238.46	3929.41	371.00	20	-45	ED
DCAr0113	539355.65	7905396.45	3919.70	299.00	20	-45	ED
DCAr0115	538757.58	7905361.29	3960.67	230.00	20	-45	WD
DCAr0116	539384.56	7905476.65	3916.83	122.00	200	-45	ED
DCAr0118	538758.33	7905360.69	3960.60	420.00	200	-45	WD
DCAr0119	539387.33	7905481.30	3917.67	250.00	20	-45	ED
DCAr0120	539324.44	7905302.73	3917.67	269.00	20	-45	ED
DCAr0121	539302.27	7905251.26	3914.94	320.00	20	-45	ED
DCAr0122	538710.77	7905380.72	3953.95	152.00	20	-45	WD
DCAr0124	539334.51	7905194.06	3922.10	287.00	20	-45	ED
DCAr0125	538758.66	7905503.50	4010.75	251.00	245	-45	WD
DCAr0127	538760.73	7905508.02	4010.91	224.00	20	-45	WD
DCAr0129	539763.69	7904965.09	3990.83	302.00	58	-45	ED
DCAr0130	538759.97	7905503.40	4010.82	251.00	200	-45	WD

Note:	1. Drill collar coordinate system is WGS1984 UTM Zone 19S
	2. Coordinate of drill collar is picked with Real Time Kinematics (RTK) GPS
	3. CV – Central Valley; WD – West Dome; ED – East Dome

QUALITY ASSURANCE AND QUALITY CONTROL

The Company maintains tight sample security and QA/QC for all aspects of its exploration program at the Carangas Project. Drill core is logged, photographed and split on-site by the company and stored under secure conditions until being shipped in security-sealed bags by New Pacific staff in Company vehicles, directly from the project to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis. ALS Global is an ISO 17025 accredited laboratory independent from New Pacific. All samples are first analyzed by a multi-element ICP package (ALS code ME-MS41) with ore grade specified limits for silver, lead, and zinc, further analyzed using ALS code OG46. Further silver samples over specified limits are analyzed by gravimetric analysis (ALS code of GRA21). Gold is assayed first by ICP and then by fire assay with AAS finish (ALS code of Au-AA25). Certified reference materials, various types of blank samples and duplicate samples are inserted into normal drill core sample sequences prior to delivery to the laboratory for preparation and analysis. The overall ratio of quality control samples in sample sequences is around twenty percent.

QUALIFIED PERSON

The scientific and technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of National Instrument 43-101 — Standards of Disclosure for Mineral Projects (“NI 43-101”). The Qualified Person has verified the information disclosed herein using standard verification processes, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties or any limitations on the verification process that could be expected to affect the reliability or confidence in the information discussed herein.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company’s flagship Project, the Silver Sand Silver Project, has released its inaugural preliminary economic assessment (the “PEA”) results in January 2023. The PEA study shows a post-tax NPV (5% discount) of US$726 million with an IRR of 39%, underpinned by a total silver production of 171 million ounces over 14 years of mine life. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 50,000 meters was completed in 2022. The third project, the Silverstrike Silver-Gold Project, had a 6,000 metre discovery drill program in June 2022.

Posted February 1, 2023

Return to Home page

MORE or "UNCATEGORIZED"

Evergold Announces Closing of $1,242,000 Private Placement to Support First-Ever Drilling of High Potential DEM Porphyry Copper-Gold-Silver Prospect, BC

Evergold Corp. (TSX-V: EVER) (WKN: A2PTHZ) is pleased to announc... READ MORE

September 30, 2023

Lavras Gold closes upsized private placement

Lavras Gold Corp. (TSX-V: LGC) (OTCQB: LGCFF) has raised gross pr... READ MORE

September 30, 2023

First Phosphate Receives Letter of Interest in the Amount of up to US$170 Million from the Export-Import Bank of the United States (EXIM)

First Phosphate Corp. (CSE: PHOS) (OTC Pink: FRSPF) (FSE: KD0) is... READ MORE

September 30, 2023

New Pacific Metals Closes C$35 Million Bought Deal Financing

New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) announ... READ MORE

September 30, 2023

Laramide intercepts broad-based uranium mineralization in initial holes from 2023 Australian exploration program

Laramide Resources Ltd. (TSX: LAM) (ASX: LAM) (OTCQX: LMRXF) is p... READ MORE

September 30, 2023

The Prospector News