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New Pacific Reports Drill Hole Assay Results and Remains On Schedule to Complete the PEA For the Silver Sand Project

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New Pacific Reports Drill Hole Assay Results and Remains On Schedule to Complete the PEA For the Silver Sand Project

 

 

 

 

 

New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) is pleased to announce the assay results of the final 53 drill holes from the 2022 resource infill and step-out drilling program completed at the Silver Sand Project.  All assays from the 2022 drill program have now been received, and a mineral resource estimate update with all drill hole data is expected to be completed by October 2022.  In addition, Silver Sand’s maiden Preliminary Economic Assessment report is on track for completion by the end of 2022 as planned (please refer to the Company’s new release on February 8, 2022).

 

The 2022 drill program of 19,323 metres in 86 drill holes, together with those holes drilled in 2021, intended to expand and improve the confidence in the geological model and Mineral Resource Estimate released in April 2020 and to be used for the PEA.  Assay results for the first 33 holes were released on April 6, 2022, and May 31, 2002. Assay results for the final 53 drill holes are summarized in Table 1 with drill hole specifications given in Table 2.

 

HIGHLIGHTS

  • Step-out Drill hole DSS582501 intersected an interval of 44.77 m grading 214 grams per tonne silver from 30.57 m to 75.34 m, and an interval of 25.04 m grading 143 g/t Ag from 151.46 to 176.50 m.
  • Step-out Drill hole DSS542505 intersected an interval of 34.25 m grading 121 g/t Ag from 33.90 m to 68.15 m, including 5.57 m grading 428 g/t Ag from 37.85 m to 43.42 m.
  • Step-out Drill hole DSS325001 intersected an interval of 7.64 m grading 448 g/t Ag from 147.66 m to 155.30 m, and an interval of 19.76 m grading 150 g/t Ag from 163.00 m to 182.76 m.
  • Step-out Drill hole DSS305002 intersected an interval of 16.00 m grading 315 g/t Ag from 7.83 m to 23.83 m.
  • Step-out Drill hole DSS687502 intersected an interval of 16.66 m grading 147 g/t Ag from 26.87 m to 43.53 m, and multiple narrow mineralized intervals at depth.
  • Step-out Drill hole DSS7002 intersected an interval of 15.26 m grading 285 g/t Ag from 25.28 m to 40.54 m, and multiple narrow mineralized intervals at depth.
  • Infill Drill hole DSS542507 intersected an interval of 20.86 m grading 108 g/t Ag from 9.06 m to 29.92 m.
  • Infill Drill hole DSS545015 intersected an interval of 30.60 m grading 119 g/t Ag from 94.82 m to 125.42 m.
  • Infill Drill hole DSS5427 intersected an interval of 36.08 m grading 210 g/t Ag from 131.68 m to 167.76 m This infill hole was drilled in the core area of Silver Sand deposit and confirmed the continuity of high-grade mineralization.
  • Infill Drill hole DSS702501 intersected an interval of 54.19 m grading 132 g/t Ag from 84.90 m to 139.09 m.
  • Infill Drill hole DSS547504 intersected an interval of 95.22 m grading 106 g/t Ag from 49.68 m to 144.90 m.
  • Infill Drill hole DSS685002 intersected an interval of 31.30 m grading 171 g/t Ag from 11.66 m to 42.96 m, including 14.71 m grading 298 g/t Ag from 26.75 m to 41.46 m, and multiple narrow mineralized intervals at depth.
  • Infill Drill hole DSS487505 intersected an interval of 19.48 m grading 337 g/t Ag from 32.45 m to 51.93 m, including 8.63 m grading 715 g/t Ag from 38.53 m to 47.16 m, and multiple narrow mineralized intervals at depth.
  • Infill Drill Hole DSS502506 intersected an interval of 17.11 m grading 144 g/t Ag from 22.5 m to 39.61 m, an interval of 19.2 m grading 409 g/t Ag from 60.3 m to 79.5 m, and an interval of 3.5 m grading 224 g/t Ag from 104.5m to 108.0 m.

 

GEOTECHNICAL DRILLING

 

A geotechnical drill program commenced in August 2022 and is expected to be completed by the end of September. This 11-hole (2,460 m) program was designed and supervised by an independent specialist consulting firm for optimizing pit slope design in the PEA.  Geotechnical logging is carried out on oriented drill cores at drill sites.

 

Table 1    Summary of Drill Hole Intercepts
Hole_ID Depth_from Depth_to Interval_m Ag_g/t Pb_% Zn_%
DSS542505 23.66 27.75 4.09 65 0.01
33.90 68.15 34.25 121 0.04 0.08
incl. 37.85 43.42 5.57 428 0.02 0.01
86.05 88.59 2.54 138 0.01 0.01
DSS6611 35.64 50.30 14.66 169 0.18 0.11
DSS6610 50.60 65.21 14.61 56 0.01
92.00 96.80 4.80 86 0.15 0.21
118.19 125.75 7.56 23 0.21 0.89
151.46 163.25 11.79 86 0.35 0.14
193.41 201.79 8.38 40 0.23 0.15
262.06 263.21 1.15 251 0.13 0.04
DSS542508 5.55 20.42 14.87 48 0.16 0.87
DSS542506 16.68 30.84 14.16 75 0.03 0.02
DSS305001 95.70 99.23 3.53 40 0.02
DSS687501 86.70 100.70 14.00 147 0.13 0.41
130.01 132.50 2.49 64 1.27 3.25
139.80 140.92 1.12 163 0.63 0.93
196.28 199.87 3.59 42 0.07 0.04
DSS2801 69.00 70.00 1.00 54 0.01
DSS3001 64.90 66.31 1.41 58 0.02
166.50 167.98 1.48 65 0.03
DSS542507 9.06 29.92 20.86 108 0.08 0.22
DSS7401 No Significant Intercept
DSS542509 79.72 82.30 2.58 85 0.02 0.02
107.95 109.00 1.05 1020 0.88 0.02
115.22 118.90 3.68 334 0.18 0.01
134.33 137.70 3.37 88 0.16 0.02
170.40 179.00 8.60 145 0.07 0.01
DSS705001 43.60 44.70 1.10 77 0.07
81.40 82.85 1.45 117 2.06
99.23 106.58 7.35 111 0.09
171.88 177.45 5.57 58 0.03
DSS545015 65.60 75.65 10.05 51 0.04
94.82 125.42 30.60 119 0.06 0.01
DSS325002 96.17 97.67 1.50 86 1.30 0.43
154.91 156.36 1.45 132 0.03
DSS7601 105.32 106.76 1.44 60 0.01
111.08 121.13 10.05 76 0.01
DSS545017 20.05 29.60 9.55 48 0.07 0.47
DSS5427 20.14 22.46 2.32 74 0.11
96.54 100.06 3.52 53 0.05
119.81 123.32 3.51 93 0.07
131.68 167.76 36.08 210 0.04 0.02
incl. 146.70 164.00 17.30 339 0.03 0.03
DSS325004 No Significant Intercept
DSS345002 96.37 97.50 1.13 84
126.89 128.28 1.39 144 0.04 0.01
143.17 147.40 4.23 102 0.01 0.03
DSS545016 18.00 43.41 25.41 82 0.05 0.16
DSS325003 32.38 33.55 1.17 35 0.01
DSS325001 147.66 155.30 7.64 448 0.09
163.00 182.76 19.76 150 0.06 0.10
DSS702501 84.90 139.09 54.19 132 0.38 0.54
178.80 184.00 5.20 46 0.04
DSS547506 23.00 61.62 38.62 68 0.06 0.02
DSS547505 14.85 26.97 12.12 168
incl. 23.45 25.70 2.25 738
67.20 115.22 48.02 57 0.04 0.01
incl. 80.76 84.58 3.82 426 0.12
DSS547510 11.00 24.00 13.00 111 0.02 0.01
DSS547509 17.74 31.44 13.70 88 0.02 0.01
DSS445006 97.90 117.50 19.60 68 0.02 0.01
125.30 126.50 1.20 212 0.07 0.57
DSS305002 7.83 23.83 16.00 315 0.02
132.07 133.50 1.43 102 0.03 0.01
DSS547504 49.68 144.90 95.22 106 0.06 0.04
DSS562506 46.00 70.28 24.28 56 0.08 0.15
DSS685002 11.66 42.96 31.30 171 0.02
incl. 26.75 41.46 14.71 298 0.03
92.38 98.15 5.77 65 0.03
104.87 111.61 6.74 34 0.11 0.18
120.20 148.53 28.33 48 0.09 0.02
181.50 189.21 7.71 27 0.14 0.57
198.80 208.40 9.60 96 0.03 0.06
DSS5427 20.14 22.46 2.32 74 0.11
96.54 100.06 3.52 53 0.05
119.81 123.32 3.51 93 0.07
131.68 167.76 36.08 210 0.04 0.02
incl. 146.70 164.00 17.30 339 0.03 0.03
DSS325005 157.19 160.10 2.91 108 0.01
DSS562507 29.52 35.93 6.41 110
54.65 116.00 61.35 83 0.07 0.01
DSS565010 13.89 18.15 4.26 115 0.01 0.01
44.17 46.22 2.05 80 0.07 0.05
58.40 61.00 2.60 56 0.04
DSS565011 42.57 46.80 4.23 75 0.04
85.90 88.75 2.85 104 0.10 0.01
98.76 100.23 1.47 81 0.04
DSS547507 52.23 60.09 7.86 57 0.05
67.30 84.12 16.82 88 0.03 0.01
104.00 115.07 11.07 56 0.04
DSS6804 16.80 20.30 3.50 98 0.01
161.78 164.25 2.47 57
198.68 199.90 1.22 85 0.06 0.20
301.75 336.50 34.75 31 0.03 0.01
DSS467504 95.90 113.32 17.42 360 0.03 0.01
191.97 198.75 6.78 76 1.80 0.02
DSS547508 46.00 47.00 1.00 199 0.15 0.04
61.65 99.15 37.50 77 0.03 0.04
122.80 126.10 3.30 59 0.07 0.19
DSS705002 21.66 32.06 10.40 279 0.12
90.68 100.20 9.52 324 0.22
DSS482502 79.10 100.37 21.27 60 0.47 0.01
124.38 126.85 2.47 83 0.48 0.01
133.10 134.12 1.02 440 2.19 0.02
149.00 158.87 9.87 32 0.43 0.03
191.96 193.03 1.07 124 3.34 0.02
DSS687502 26.87 43.53 16.66 147 0.03
97.55 107.37 9.82 67 0.05 0.06
120.80 122.05 1.25 104 0.13 0.14
132.96 147.77 14.81 56 0.14 0.05
DSS7002 25.28 40.54 15.26 285 0.02
101.10 110.60 9.50 80 0.09 0.01
131.59 144.70 13.11 62 0.11 0.14
160.70 166.01 5.31 40 0.26 0.50
180.47 183.15 2.68 215 0.19 0.14
191.25 193.83 2.58 55 0.30 0.13
DSS425007 127.50 137.00 9.50 130 0.01 0.02
152.37 153.52 1.15 132 0.06 0.10
DSS482501 62.20 63.55 1.35 423
70.37 75.53 5.16 44 0.03
81.95 97.24 15.29 84 0.01
167.72 179.13 11.41 43 0.10
192.16 206.13 13.97 100 1.14 0.01
230.66 233.12 2.46 75 0.51
DSS487505 32.45 51.93 19.48 337
incl. 38.53 47.16 8.63 715
91.83 103.88 12.05 160 0.03
138.57 150.57 12.00 42 0.04
162.96 180.87 17.91 78 0.48 0.01
238.10 239.44 1.34 404 0.09 0.43
251.75 255.63 3.88 180 0.13 0.06
DSS565013 143.00 201.50 58.50 52 0.04
DSS582501 30.57 75.34 44.77 214 0.10
151.46 176.50 25.04 143 0.07 0.11
incl. 151.46 154.00 2.54 823 0.07
incl. 169.00 171.12 2.12 536 0.31 0.17
DSS565012 139.80 149.00 9.20 147 0.15 0.01
198.90 212.62 13.72 104 0.53 0.01
DSS502506 22.50 39.61 17.11 144 0.04 0.01
60.30 79.50 19.20 409 0.12 0.02
104.50 108.00 3.50 224 0.03
 

Notes:
1. Location, altitude, azimuth, and dip of drill holes are provided in Table 2.
2. Drill intercept is core length, and grade is length weighted. Length of drill intercept is close to true width of mineralization as drilling is normal to both strike and dip of mineralized zones.
3. A cut-off grade of 20 g/t Ag is applied for calculation of length-weighted intercept. At times, samples lower than 20 g/t Ag may be included in the calculation of consolidation of mineralized intercepts.

 

 

 

Table 2 Summary of Drill Hole Specifications
Hole_id Easting Northing Altitude Depth_m Azimuth (°) Dip (°) Year Note
DSS542505 235013.95 7856522.93 4101.23 155.15 60 -45 2022 Step-out
DSS6611 234876.13 7855780.03 4029.97 54.80 60 -45 2022 Resource Infill
DSS6610 234834.02 7855759.60 4029.10 311.00 60 -55 2022 Resource Infill
DSS542508 235115.65 7856584.35 4115.41 101.00 60 -45 2022 Step-out
DSS542506 235050.43 7856544.89 4106.53 143.10 60 -45 2022 Step-out
DSS305001 234533.65 7857614.73 4193.84 313.50 60 -45 2022 Step-out
DSS687501 234932.96 7855613.73 4059.32 239.00 60 -45 2022 Resource Infill
DSS2801 234497.09 7857755.74 4195.51 277.00 60 -45 2022 Step-out
DSS3001 234520.83 7857653.93 4196.73 271.50 60 -45 2022 Step-out
DSS542507 235083.23 7856563.86 4110.97 120.00 60 -45 2022 Resource Infill
DSS7401 235069.74 7855434.22 4105.28 302.00 60 -45 2022 Step-out
DSS542509 234871.60 7856443.59 4071.77 311.00 60 -45 2022 Step-out
DSS705001 234971.30 7855546.97 4073.83 290.00 60 -45 2022 Resource Infill
DSS545015 234933.62 7856448.62 4089.75 176.15 60 -46 2022 Resource Infill
DSS325002 234728.92 7857595.66 4121.93 166.50 60 -45 2022 Step-out
DSS7601 235096.94 7855333.22 4120.60 305.10 60 -45 2022 Step-out
DSS545017 235087.94 7856539.28 4113.05 104.15 60 -45 2022 Step-out
DSS5427 234843.00 7856453.00 4065.00 236.00 60 -45 2022 Resource Infill
DSS325004 234728.51 7857595.98 4121.91 163.50 353 -45 2022 Step-out
DSS345002 234625.68 7857426.77 4156.70 241.50 86 -45 2022 Step-out
DSS545016 235053.28 7856517.60 4106.76 122.15 60 -45 2022 Resource Infill
DSS325003 234728.77 7857595.69 4121.96 127.70 26 -40 2022 Step-out
DSS325001 234606.08 7857524.97 4169.90 265.50 60 -45 2022 Step-out
DSS702501 234960.11 7855571.78 4069.02 287.00 60 -45 2022 Resource Infill
DSS547506 235045.38 7856482.58 4106.77 128.10 60 -45 2022 Step-out
DSS547505 234947.02 7856428.11 4091.60 200.00 60 -47 2022 Step-out
DSS547510 235083.07 7856504.52 4113.08 113.00 60 -45 2022 Step-out
DSS547509 235062.62 7856495.23 4109.23 113.00 60 -45 2022 Step-out
DSS445006 234380.80 7856704.49 4087.14 283.50 60 -45 2022 Resource Infill
DSS305002 234599.64 7857655.86 4169.55 268.50 60 -45 2022 Step-out
DSS547504 234976.40 7856444.99 4097.29 164.00 60 -47 2022 Resource Infill
DSS562506 235043.05 7856427.53 4104.86 137.15 60 -45 2022 Step-out
DSS685002 234889.98 7855614.42 4053.31 302.20 60 -50 2022 Resource Infill
DSS5427 234845.65 7856458.52 4065.96 236.00 60 -45 2022 Resource Infill
DSS325005 234729.44 7857595.50 4121.97 202.50 76 -45 2022 Step-out
DSS562507 234991.97 7856403.39 4094.17 176.00 60 -45 2022 Resource Infill
DSS565010 235083.07 7856418.72 4109.58 122.15 60 -45 2022 Resource Infill
DSS565011 234936.06 7856331.99 4048.68 155.10 60 -45 2022 Step-out
DSS547507 234931.80 7856420.45 4086.76 176.00 60 -47 2022 Step-out
DSS6804 234824.09 7855635.07 4046.53 350.30 60 -64 2022 Step-out
DSS467504 234474.14 7856614.29 4102.10 313.50 60 -45 2022 Step-out
DSS547508 234910.32 7856405.62 4076.84 185.20 60 -47 2022 Step-out
DSS705002 234939.39 7855529.69 4069.23 326.00 60 -45 2022 Step-out
DSS482502 234545.80 7856602.74 4102.01 304.50 60 -45 2022 Step-out
DSS687502 234897.79 7855589.97 4057.06 302.10 60 -48 2022 Step-out
DSS7002 234906.43 7855567.15 4060.03 302.10 60 -48 2022 Step-out
DSS425007 234319.92 7856788.69 4091.58 304.50 60 -45 2022 Step-out
DSS482501 234486.53 7856566.64 4105.60 283.50 60 -45 2022 Step-out
DSS487505 234508.20 7856525.21 4099.59 307.50 60 -45 2022 infill
DSS565013 234877.94 7856302.62 4024.03 401.00 245 -50 2022 infill
DSS582501 235144.90 7856373.38 4112.02 242.10 240 -45 2022 Step-out
DSS565012 234878.63 7856301.87 4024.01 404.00 218 -50 2022 infill
DSS502506 234541.91 7856481.35 4089.37 313.50 60 -46 2022 infill
 

Notes:
1. Drill collar coordinate system is WGS1984 UTM Zone 20S.
2. Coordinate of drill collar is picked with Real Time Kinematics (RTK) GPS.

 

 

QUALITY ASSURANCE AND QUALITY CONTROL

 

All samples in respect of the exploration program at the Silver Sand Project, conducted by the Company and discussed in this news release, are shipped in securely-sealed bags by New Pacific staff in the Company’s vehicles, directly from the field 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 over 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). Certified reference materials, various types of blank samples and duplicate samples are inserted to normal drill core sample sequences prior to delivery to 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 have 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. The Qualified Person has verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties 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, is waiting for a new Mineral Resource Estimate Update and a PEA by the end of 2022.  Recently discovered Carangas Silver-Gold Project is undergoing a 40,000 m drill program.  The third project, the Silverstrike Silver-Gold Project, commenced a 6,000 m discovery drill program in June 2022 and discovered a near surface broad gold mineralization by drill hole.

Posted September 19, 2022
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