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NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE MONTHS AND YEAR ENDED JUNE 30, 2023
NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE MONTHS AND YEAR ENDED JUNE 30, 2023 ...
About this update from New Pacific Metals Corp
[{"type":"text","content":"\n \n \n \n NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE MONTHS AND YEAR ENDED JUNE 30, 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 \n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 24, 2023\n \n \n /CNW/ - New Pacific Metals Corp. (\"New Pacific\" or the \"Company\") reports its financial results for the three months and year ended\n \n June 30, 2023\n \n .  All figures are expressed in US dollars unless otherwise stated.\n \n \n \n FISCAL 2023 HIGHLIGHTS\n \n \n \n \n The Company filed its independent preliminary economic assessment technical report (the \"PEA Technical Report\") in respect of the Silver Sand Project on\n \n February 16, 2023\n \n . The PEA Technical Report 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. The PEA Technical Report also includes an updated mineral resource estimate (the \"MRE\") with total measured and indicated mineral resource of 201.77 million ounces of silver at a head grade of 116 grams per tonne (\"g/t\"). Please see \"\n \n Cautionary Note Regarding Results of Preliminary Economic Assessment\n \n \".\n \n \n \n \n \n The Company completed the 2023 drill program at the Carangas Project for a total of\n \n 17,623 m\n \n in 39 drill holes. Assay results of all drill holes have been received and released through two news releases on\n \n July 6, 2023\n \n and\n \n May 30, 2023\n \n , respectively. The Company also completed the 2022 drill program at the Carangas Project for a total of\n \n 50,368 m\n \n in 115 drill holes. Assay results of all drill holes have been received and released through eight news releases between\n \n July 13, 2022\n \n and\n \n April 6, 2023\n \n . 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 20...