
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
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.
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