Business
New Pacific Metals Resumes Drilling Programs at Silver Sand Project and Receipt of Environmental Permits for Exploration
VANCOUVER, British Columbia, April 25, 2019 (GLOBE NEWSWIRE) -- New Pacific Metal Corp. (“New Pacific” or the “Company”) (TSXV: NUAG) (OTCQX: NUPMF) is pleased
About this update from New Pacific Metals Corp
[{"type":"text","content":" VANCOUVER, British Columbia, April 25, 2019 (GLOBE NEWSWIRE) -- New Pacific Metal Corp. (“New Pacific” or the “Company”) (TSXV: NUAG) (OTCQX: NUPMF) is pleased to announce the commencement of the 2019 drill programs at the Silver Sand Project in the Department of Potosi, Bolivia. The total budgeted metreage for 2019 drilling campaign is about 55,000 metres of diamond coring drilling. The Silver Sand Project consists of three 100% owned concessions of approximately 7 square kilometres plus an area of approximately 57 square kilometres (includes 29 Special Temporary Authorizations and 201 mining grids) covered by the Mining Production Contract (“MPC”). As previously announced in the Company’s January 11, 2019 news release, New Pacific signed the MPC with COMIBOL which is subject to ratification by the Plurinational Legislative Assembly of Bolivia. Grab samples of hundreds of surface dump sites and chip-samples from many artisanal mining tunnels reveal that the silver mineralized fracture zones could extend up to 6 kilometres long in the North-North-West direction and up to 2 kilometres wide in the North-East-East direction. The targets for the 2019 drilling program include: 1) infill drilling to a point where an initial NI 43-101 compliant Mineral Resource estimate can be made for the Silver Sand area by the end of 2019; 2) drill prospects with good silver grades from historical artisanal mining dumps to expand the mineralization zones at the Silver Sand; 3) drill prospects surrounding Silver Sand showing similar silver mineralization as revealed by historical artisanal mining, and 4) drilling for samples for further metallurgical test work. The Company currently has three drill rigs on site. The Company has also received the environmental permits from the relevant Bolivian government authorities to conduct mineral exploration activities in the MPC areas surrounding the Silver Sand area. The Company has acquired land located approximately 16 kilometres south of the Silver Sand Project sufficient to build an exploration camp which will include offices, accommodation, and drill core processing and storage facilities. This location is approximately 10 kilometres East of the Potosi airport at an elevation of 3,620 metres above sea level. Quality Assurance and Quality Control...