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New Pacific Metals Reports Inaugural Resource Estimate for the Silver Sand Deposit, Bolivia
VANCOUVER, British Columbia, April 14, 2020 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is please
About this update from New Pacific Metals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, April 14, 2020 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to report the first independent National Instrument 43-101 (“NI 43-101”) Mineral Resource estimate for its 100% owned Silver Sand Deposit, Bolivia. The study was completed by AMC Mining Consultants (Canada) Ltd. (“AMC”). The Company will host a webcast to discuss the Silver Sand Project on April 15, 2020 at 10:30 am Eastern Time / 7:30 am Pacific Time – details of which are at the bottom of the news release. The resource estimate used property boundary and conceptual open pit mining constraints and are presented in Table 1 using a 45 g/t silver cut-off grade. The model is depleted for historical mining activities: Table 1: Silver Sand Deposit - Conceptual Pit1 constrained Mineral Resource as of 31 December 2019. Resource category Tonnes (Mt) Ag (g/t) Ag (Moz) Measured 8.4 159 43.05 Indicated 26.99 130 112.81 Measured & Indicated 35.39 137 155.86 Inferred 9.84 112 35.55 1 Notes: CIM Definition Standards (2014) were used for reporting the Mineral Resources. The Qualified Person is Dinara Nussipakynova, P.Geo. of AMC Mining Consultants (Canada) Ltd. Mineral Resources are constrained by an optimized pit shell at a metal price of US$18.70/oz Ag, recovery of 90% Ag and Cut-off grade of 45 g/t Ag. Mineral Resources are reported inside the Claim boundary. Pit optimization allows waste mining to extend outside the claim to the NE and SW. Drilling results up to 31 December 2019. The numbers may not compute exactly due to rounding. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Source: AMC Surrounding the conceptual constrained open pit is a zone of mineralized material of similar tenor and grade which has been drilled at variable distances ranging from 25m to plus 100m: The first area immediately surrounds and encompasses the pit and has been drilled between 25m and 50m distances. The Company considers this area to contain potential tonnage range of 7Mt to 15Mt and grades ranging from 85 g/t Ag to 150 g/t Ag. This area requires additional engineering studies to be included in any future mine plans. The second area occurs at the southern end of the Silver Sand deposit and has received less exploration...