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

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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

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