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New Pacific Reports Financial Results for the Three Months Ended September 30, 2021
New Pacific Reports Financial Results for the Three Months Ended September 30, 2021 ...
About this update from New Pacific Metals Corp
[{"type":"text","content":"\n \n \n \n New Pacific Reports Financial Results for the Three Months Ended September 30, 2021\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 VANCOUVER, BC,\n \n Nov. 11, 2021\n \n /CNW/ - New Pacific Metals Corp. (\"New Pacific\" or the \"Company\") reports its unaudited consolidated financial results for the three months ended\n \n September 30, 2021\n \n , the first quarter of fiscal 2022.  All figures are expressed in US dollars unless otherwise stated.\n \n \n \n QUARTERLY HIGHLIGHTS\n \n \n \n \n Subsequent to quarter-end, announced results of the 2020-2021 metallurgical test program for the Silver Sand Project. Defined heap leach process as the preferred processing method, which achieves 80% silver recovery and significantly de-risks the project;\n \n \n \n \n Maintained working capital of\n \n $41.70 million\n \n , sufficient to advance the flagship Silver Sand Project, the Carangas Project and other regional exploration initiatives;\n \n \n \n \n Silver Sand Preliminary Economic Assessment (\"PEA\") continues to advance. A total of 12,857 metres (\"m\") of drilling were completed in 55 drill holes as part of the current resource expansion drill program;\n \n \n \n \n Received an administrative mining contract for the Silver Sand Project, establishing a clear title to the project mineral rights; and\n \n \n \n \n Completed the Phase I discovery drill program at the Carangas Project with a total of\n \n 3,790 m\n \n drilled in 13 holes. Announced a Phase II drill program to complete an additional minimum\n \n 7,500 m\n \n of drilling by the end of 2021.\n \n \n \n Dr.\n \n Mark Cruise\n \n , CEO of New Pacific, said, \"During the last quarter, we continued to advance the Silver Sand PEA. As part of our PEA work, we completed a metallurgical test program, which determined a path forward at Silver Sand as a bulk-tonnage, open pit, heap leach operation, producing silver doré on site. We are particularly pleased with this outcome as it significantly de-risks the project due to its lower ca...