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New Pacific Metals

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New Pacific is a Canadian exploration and development company advancing two permitting-stage precious metals projects and one exploration-stage project in Bolivia.

Investor website: https://www.newpacificmetals.com/

About

New Pacific is a Canadian exploration and development company advancing two permitting-stage precious metals projects and one exploration-stage project in Bolivia. Its Silver Sand project in Potosí has the potential to become one of the world’s largest silver mines. The Carangas Silver–Gold Project in Oruro strengthens the Company’s portfolio through scale, robust economics, and regional exploration potential. The Silverstrike Silver-Gold Project, located in La Paz, had a discovery drill program in June 2022 and discovered near-surface, broad gold mineralization. With over a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders. The Company is headquartered in Vancouver, British Columbia, and its shares trade on the Toronto Stock Exchange under the symbol “NUAG” and on the New York Stock Exchange under the symbol “NEWP.”

Verified company data

Cash position
US$41.2 M
Shares outstanding
184000000
Fully diluted shares
190000000
Mineral resource
The Mineral Resource Estimate (“MRE”), which used conceptual open pit mining constraints for reporting purposes, has been reported in the news release of November 28, 2022. The Mineral Resources, which are stated at a 30 g/t silver cut‐off grade, are shown in the table below. **Mineral Resource as of October 31, 2022** _Notes:_ - _CIM Definition Standards (2014) were used for reporting the Mineral Resources._ - _The qualified person (as defined in NI 43-101) is Dinara Nussipakynova, P.Geo. of BBA, formerly employed with AMC Consultants (Canada) Ltd. (“AMC Consultants)._ - _Mineral Resources are constrained by optimized pit shells at a metal price of US$22.50/oz Ag, recovery of 91% Ag and cut-off grade of 30 g/t Ag._ - _Drilling results up to July 25 2022._ - _The numbers may not compute exactly due to rounding._ - _Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability._ _Source: AMC Mining Consultants (Canada) Ltd._
Projects
["New Pacific Commences Drilling at the Silverstrike Project, Bolivia\n\nVANCOUVER, British Columbia – JUNE 14, 2022 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG; NYSE American: NEWP) is pleased to announce that a 6,000-metre (“m”), one rig drilling program has commenced at the Silverstrike Project. The program will initially focus on testing a broad gold zone identified by the Company and by historical drilling.\n\nThe Silverstrike Project with an area of approximately 13km² is located approximately 140 kilometres (“km”) southwest of La Paz, Bolivia, or approximately 450 km northwest of New Pacific’s Silver Sand Project. The Company has 98% interest in the Silverstrike Project with its Bolivian partner and will cover 100% of the future expenditures of exploration, mining, development and production activities.\n\nIn the previous news releases (September 29, and November 19, 2020), the Company identified near-surface broad-zones of silver mineralization in altered sandstones to the North, with similarities to that at Silver Sand; and in the Silverstrike Central area, a near surface broad Silver zone that occurs near the top of a 900 m diameter volcanic dome of ignimbrite (volcaniclastic sediments) units with intrusion of rhyolite dyke swarm and andesite flows; and a broad gold zone occurs half way from the top of the dome.\n\nThe Gold Zone at the Silverstrike Central\n\nGold-rich mineralization at Cerro Tatitu Kkollu occurs adjacent to the contact zones between the ignimbrites and the rhyolite dyke swarm.\n\nA total of 277 channel chip samples were collected over three key outcropping areas, the best results were 4.7 m grading 14.76 g/t Au and 27 g/t Ag from a historical mining adit; 42m @ 1.02g/t Au and18g/t Ag, and 10m @ 1.45g/t and14g/t Ag.\n\nA single dump grab sample collected from a historic exploration adit returned 1.66g/t Au, 154g/t Ag, and 7.97% Cu.\n\nThree holes Drilled by Rio Tinto in 1995 on the gold zone returning broad intervals of Au mineralization from surface:\n\nHole BER-02 – 302m grading 0.27 g/t Au, including 42m grading 0.52g/t Au.\n\nHole BRC-04 – 110m grading 0.46 g/t Au, including 22m grading 1.42 g/t Au.\n\nHole BRC-12 – 258m grading 0.19 g/t Au.\n\nBased on the Company’s field mapping, chipping sample and limited historical drilling results, the Company interprets the gold zone as very similar to the gold discovery in the Carangas Project that the silver rich zone sits at the top of the system stacking on top of the gold mineralization in volcaniclastic sediments that intruded by rhyolitic porphyry dyke swarms.\n\nQualified Person\n\nThe 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 (“NI 43-101”). 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.\n\nABOUT NEW PACIFIC\n\nNew 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 this year. Recently discovered Carangas silver-gold project is undergoing a 40,000 m drill program. The third project, the Silverstrike silver-gold project, will commence an initial test drilling in June 2022."]
Leadership
Jalen Yuan (CEO, Corporate leader and professional accountant with over sixteen years of diverse international experience in the mining industry. Previously served as Chief Financial Officer of the Company since 2015.), Chester Xie (CFO, Professional accountant with nearly a decade of diverse international experience in financial reporting, auditing, internal control, and accounting. Joined the Company in 2023 as Financial Controller.), Alex Zhang (Vice President, Exploration, Professional geoscientist with more than 30 years of experience in mineral exploration, involved in major projects in China, Canada, and Bolivia.), Carolina Ordoñez (Vice President, Corporate Affairs, Over 15 years of experience in the resource sector as a liaison between Governments, Corporations, and Investors, fluent in English and Spanish.), Hianny Romero (Vice President, Bolivia Operations, Strategic financial and operational executive with over a decade of leadership experience in Bolivia's mining operations.), Dickson Hall (Chairman of the Board of Directors, Over 40 years of experience in finance and corporate development, with a strong emphasis on the mining sector.), Paul Simpson (Director, Vancouver-based corporate securities and mining lawyer with over 25 years’ experience advising public companies.), Maria Tang (Director, Over 20 years of experience in accounting with a focus on the mining industry, held executive and board leadership positions.), Martin Wafforn (Director, Mining engineer with more than 35 years of experience in the mining industry, currently Senior Vice President at Pan American Silver.), Myles Gao (Director, Seasoned geologist and mining executive with senior leadership positions in various mining companies.)

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