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NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2023
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2023 ...
About this update from New Pacific Metals Corp
[{"type":"text","content":"\n \n \n \n NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2023\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 8, 2023\n \n \n /CNW/ - New Pacific Metals Corp. (\"New Pacific\" or the \"Company\") reports its financial results for the three and nine months ended\n \n March 31, 2023\n \n .  All figures are expressed in US dollars unless otherwise stated.\n \n \n \n \n \n \n \n \n \n \n FISCAL 2023 Q3 HIGHLIGHTS\n \n \n \n \n The Company filed its independent preliminary economic assessment (the \"PEA\") of the Silver Sand Project on\n \n February 16, 2023\n \n . The PEA shows a post-tax net present value (\"NPV\") (at a 5% discount rate) of\n \n $726 million\n \n with an internal return rate (\"IRR\") of 39%, underpinned by a total silver production of 171 million ounces over 14 years of mine life. Please see \"Cautionary Note Regarding Results of Preliminary Economic Assessment\"\n \n \n The Company completed the 2022 drill program at the Carangas Silver Gold Project for a total of 50,368 meters (\"m\"). To date, assay results of all 115 drill holes drilled in 2022 have been received and released. The assay results continue to indicate that a thick zone of gold mineralization occurs beneath a shallow silver horizon measuring approximately\n \n 1,000 m\n \n long,\n \n 800 m\n \n wide, and up to\n \n 200 m\n \n thick. The 2022 drill results also indicate the gold system is open to the north and north-east directions with these targets being drill tested as part of the Company's 2023 drill program. Please see \"Carangas Project\".\n \n \n The Company completed the 2023 drill program at the Carangas Project for a total of\n \n 17,650 m\n \n in 39 drill holes pending assay results. The results from the 2023 drill program, together with the results from 2021 and 2022 drill programs, will be used for an inaugural mineral resource estimate (\"MRE\") to be completed later in 2023.\n \n \n Received results of an expanded 3D Bipole-Dipole IP-MT pr...