New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New
Pacific” or the “Company”) is pleased to announce the assay results
of the second batch of 32 drill holes from its wholly-owned Silver
Sand Project located in the Department of Potosí, Bolivia.
The assay results continue to show wide intervals of silver
mineralization. Currently there are three rigs operating on
site with a fourth rig to arrive in August to expedite drilling at
Silver Sand. Of the 32 drill holes, 19 holes were drilled to
infill the drill grid to a density of 25 metres by 25 metres to
confirm continuity of mineralization in selected areas drilled in
2018, and 13 holes were drilled step-out to the north testing
extension of known mineralized zones. Holes were
approximately oriented at azimuths of 60 degrees with dips of -45
degrees normal to the strike and dip of mineralized
structures.
All the infill drill holes intercepted
significant silver mineralization in mineralized fracture zones
similar to those seen in the assay results for those holes
completed in 2018 drill campaign and ongoing 2019 drill campaign;
the first drill results of which were released on June 6, 2019.
Holes drilled to the south of section 60 have encountered
mined out intervals within zones of wide silver
mineralization where higher grade silver may have been selectively
mined out in the past. The step-out drill holes to the north
of section 44 on the eastern side of the mineral deposit also
intercepted significant silver mineralization evidenced by the wide
intercepts in holes DSS4006 grading 174 g/t silver over 42.4 m and
DSS422501 grading 183 g/t silver over 104.5 m, indicating that
mineralization is open to the north.
Highlights of significant drill intersections
are summarized as follows (for a detailed list, please refer to
Table-1 – Composited Drill Intersections of Mineralization
below):
- Drill hole DSS4006, 42.4m @ 174g/t Ag from
108.1m to 150.5m;
- Drill hole DSS422501, 104.5m @ 183g/t Ag from
41.7m to 146.2m,
incl. 65.98m @ 282g/t Ag from 80.25m to
146.2m;
- Drill hole DSS427502, 153.57m @ 98g/t Ag from
56.93m to 210.5m,
incl. 5.55m @ 1475g/t Ag from 82.38m to
87.93m,
incl. 6.0m @ 681g/t Ag from 167.0m to 173.0m;
- Drill hole DSS522503, 181.27mm @ 100g/t Ag
from 62.95m to 244.22m,
incl. 94.18m @ 177g/t Ag from 128.05m to
222.23m,
incl. 16.68m @ 754g/t Ag from 205.55m to
222.23m;
- Drill hole DSS505012, 104.18 m @ 71g/t Ag from
84.48m to 188.66m,
incl. 31.47m @ 109g/t Ag from 84.48m to
115.95m;
- Drill hole DSS507501, 114.4m @ 76g/t Ag from
67.9m to 182.3m
incl.
4.82m @ 976g/t Ag from 168.18m to 173.0m;
- Drill hole DSS507502, 83.42m @ 116g/t Ag from
82.1m to 165.52m,
incl. 26.55m @ 242g/t Ag from 82.1m to
108.65m;
incl. 20.14m @ 155g/t Ag from 145.38m to
165.52m;
- Drill hole DSS507503, 57.36m @ 354g/t Ag from
98.5m to 155.86m,
incl. 18.44m @ 403g/t Ag from 98.5m to
116.94m,
incl. 3.6m @ 3378g/t Ag
from 142.7m to 146.3m;
- Drill hole DSS627501, 177.19m @ 67g/t Ag from
4.03m to 181.22m incl. 36.53m mined out,
28.47m @ 161g/t Ag from 4.03m to 32.5m incl. 1.1m
mined out,
2.22m @ 965g/t
Ag from 179.0m to 181.22m;
(True width of the mineralization is unknown,
but based on the current understanding of the relationship between
drill hole direction and the mineralized structures it is estimated
that true width will approximate 80% of the down hole interval
length. Please refer to Table-1 – Composited Drill
Intersections of Mineralization below for details.)
With the continued exploration success, the
Company has engaged AMC Mining Consultants (Canada) Ltd. to
undertake an initial resource estimate for the Silver Sand
Project.
Quality Assurance and Quality
Control
HQ-size drill core samples from altered and
mineralized intervals were split into halves by diamond saw, with
an average sample length of between one to one and half metres at
the Company’s core processing facility located in Betanzos, a small
town located 20 kilometres from the project site. Half core
samples are stored in a secure core storage facility in Betanzos
for future reference, and the other half core samples are shipped
in securely sealed bags to ALS Global in Oruro, Bolivia for
preparation, and ALS Global in Lima, Peru for geochemical
analysis. All samples are first analyzed by a multi-element
ICP package (ALS code ME-MS41) with ore grade over limits for
silver, lead and zinc further analyzed using ALS code OG46. Further
silver over limits are analyzed by gravimetric analysis (ALS code
of GRA21).
A standard quality assurance and quality control
(“QAQC”) protocol was employed to monitor the quality of sample
preparation and analysis. Standards of certified reference
materials and blanks were inserted in normal core sample sequences
prior to shipment to lab at a ratio of 20:1 (i.e., every 20 samples
contain at least one standard sample and one blank sample).
Duplicate samples of coarse rejects at a ratio of 20:1 will
be sent to a second internationally accredited lab for check
analysis. The assay results of QAQC samples of standards and blanks
did not show any significant bias of analysis or contamination
during sample preparation.
Technical information contained in this news
release has been reviewed and approved by Alex Zhang, P. Geo., Vice
President of Exploration, who is a Qualified Person for the
purposes of NI 43-101.
About New Pacific
New Pacific is a Canadian exploration and
development company which owns the Silver Sand Project in Potosí
Department, Bolivia and the Tagish Lake gold project in Yukon,
Canada. New Pacific has Silvercorp Metals Inc. (TSX/NYSE
American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS) as
its 28% and 16.8% shareholders.
For further information,
contact:
New Pacific Metals Corp. Gordon Neal President Phone:
(604) 633-1368 Fax: (604)
669-9387 info@newpacificmetals.com www.newpacificmetals.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
INFORMATION
Certain of the statements and information in
this news release constitute “forward-looking information” within
the meaning of applicable Canadian provincial securities laws. Any
statements or information that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as “expects”, “is
expected”, “anticipates”, “believes”, “plans”, “projects”,
“estimates”, “assumes”, “intends”, “strategies”, “targets”,
“goals”, “forecasts”, “objectives”, “budgets”, “schedules”,
“potential” or variations thereof or stating that certain actions,
events or results “may”, “could”, “would”, “might” or “will” be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking statements or information.
Forward-looking statements or information are
subject to a variety of known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ
from those reflected in the forward-looking statements or
information, including, without limitation, risks relating to:
fluctuating equity prices, bond prices, commodity prices;
calculation of resources, reserves and mineralization, foreign
exchange risks, interest rate risk, foreign investment risk; loss
of key personnel; conflicts of interest; dependence on management
and others.
This list is not exhaustive of the factors that
may affect any of the Company’s forward-looking statements or
information. Forward-looking statements or information are
statements about the future and are inherently uncertain, and
actual achievements of the Company or other future events or
conditions may differ materially from those reflected in the
forward-looking statements or information due to a variety of
risks, uncertainties and other factors, including, without
limitation, those referred to in the Company’s Annual Information
Form for the year ended June 30, 2018 under the heading “Risk
Factors”. Although the Company has attempted to identify important
factors that could cause actual results to differ materially, there
may be other factors that cause results not to be as anticipated,
estimated, described or intended. Accordingly, readers should not
place undue reliance on forward-looking statements or
information.
The Company’s forward-looking statements or
information are based on the assumptions, beliefs, expectations and
opinions of management as of the date of this news release, and
other than as required by applicable securities laws, the Company
does not assume any obligation to update forward-looking statements
or information if circumstances or management’s assumptions,
beliefs, expectations or opinions should change, or changes in any
other events affecting such statements or information. For the
reasons set forth above, investors should not place undue reliance
on forward-looking statements or information.
CAUTIONARY NOTE TO US INVESTORS
This news release has been prepared in
accordance with the requirements of NI 43-101 and the Canadian
Institute of Mining, Metallurgy and Petroleum Definition Standards,
which differ from the requirements of U.S. Securities laws.
NI 43-101 is a rule developed by the Canadian Securities
Administrators that establishes standards for all public disclosure
an issuer makes of scientific and technical information concerning
mineral projects.
Table 1 – Composited Drill Intersections of
Mineralization
Hole_id |
Section |
|
Mineralized Intervals |
Note |
|
From (m) |
To (m) |
Length (m) |
Ag_g/t |
Pb_% |
Zn_% |
DSS3803 |
38 |
|
227.12 |
228.3 |
1.18 |
112 |
0.05 |
0 |
|
|
|
|
234.6 |
237 |
2.4 |
127 |
0.03 |
0 |
|
DSS4005 |
40 |
|
85.71 |
90.3 |
4.59 |
84 |
0 |
0.01 |
|
|
|
|
130.93 |
132.2 |
1.27 |
110 |
0.11 |
0.03 |
|
|
|
|
197.39 |
199.5 |
2.11 |
58 |
0.08 |
0.01 |
|
DSS4006 |
40 |
|
108.1 |
150.5 |
42.4 |
174 |
0.04 |
0.01 |
|
DSS402501 |
4025 |
|
98.75 |
163.23 |
64.48 |
39 |
0.03 |
0 |
|
|
|
incl. |
126.24 |
139.32 |
13.08 |
117 |
0.05 |
0 |
|
DSS405005 |
4050 |
|
62 |
162.5 |
100.5 |
36 |
0.03 |
0.02 |
|
|
|
incl. |
153.34 |
162.5 |
9.16 |
104 |
0.13 |
0 |
|
DSS407501 |
4075 |
|
92.62 |
148 |
55.38 |
73 |
0.03 |
0 |
|
|
|
incl. |
122.19 |
129.25 |
7.06 |
317 |
0.09 |
0 |
|
DSS4207 |
42 |
|
213.8 |
215.05 |
1.25 |
123 |
0.45 |
0.03 |
|
|
|
|
240.22 |
254.47 |
14.25 |
35 |
0.1 |
0.01 |
|
|
|
|
276.8 |
277.91 |
1.11 |
115 |
0.04 |
0.01 |
|
DSS4208 |
42 |
|
212.71 |
215.17 |
2.46 |
77 |
2.34 |
0 |
|
DSS4209 |
42 |
No Significant Results |
|
DSS4210 |
42 |
|
76.74 |
85.57 |
8.83 |
44 |
0.02 |
0 |
|
|
|
|
142.87 |
170.7 |
27.83 |
79 |
0.03 |
0 |
|
|
|
incl. |
150.28 |
152.88 |
2.6 |
584 |
0.11 |
0 |
|
DSS422501 |
4225 |
|
41.7 |
146.2 |
104.5 |
183 |
0.05 |
0.11 |
|
|
|
incl. |
80.25 |
146.20 |
65.95 |
282 |
0.05 |
0 |
|
DSS425005 |
4250 |
|
54.11 |
157.91 |
103.8 |
48 |
0.03 |
0.05 |
|
|
|
incl. |
140.24 |
147.87 |
7.63 |
250 |
0.08 |
0 |
|
|
|
|
198.74 |
200 |
1.26 |
170 |
0.02 |
0 |
end in mineralization |
DSS427502 |
4275 |
|
56.93 |
210.5 |
153.57 |
98 |
0.04 |
0.02 |
|
|
|
incl. |
82.38 |
87.93 |
5.55 |
1,475 |
0.48 |
0.01 |
|
|
|
incl. |
167 |
173 |
6 |
681 |
0.1 |
0.01 |
|
DSS4407 |
44 |
|
149.4 |
150.51 |
1.11 |
30 |
0.11 |
0 |
|
|
|
|
184.81 |
186.03 |
1.22 |
34 |
0.37 |
0.01 |
|
|
|
|
226 |
227 |
1 |
38 |
0.52 |
0.04 |
|
|
|
|
256.03 |
257.3 |
1.27 |
92 |
0.14 |
0.01 |
|
DSS502501 |
5025 |
|
102.73 |
286.3 |
183.57 |
43 |
0.04 |
0.01 |
2.95m mined out |
|
|
incl. |
102.73 |
133.3 |
30.57 |
107 |
0.13 |
0.01 |
|
|
|
incl. |
281.3 |
286.3 |
5 |
477 |
0.05 |
0.01 |
|
DSS502502 |
5025 |
|
106.45 |
150.7 |
44.25 |
85 |
0.11 |
0.47 |
|
|
|
incl. |
114.17 |
123.14 |
8.97 |
322 |
0.1 |
0.01 |
|
DSS505011 |
5050 |
|
39.47 |
281.9 |
242.43 |
31 |
0.01 |
0.01 |
|
|
|
incl. |
244.06 |
246.45 |
2.39 |
371 |
0.04 |
0 |
|
|
|
incl. |
276 |
278.38 |
2.38 |
536 |
0.11 |
0.01 |
|
DSS505012 |
5050 |
|
84.48 |
188.66 |
104.18 |
71 |
0.04 |
0.02 |
|
|
|
incl. |
84.48 |
115.95 |
31.47 |
109 |
0.04 |
0.01 |
|
DSS505013 |
5050 |
|
85.8 |
152 |
66.2 |
35 |
0.04 |
0.02 |
|
DSS507501 |
5075 |
|
67.9 |
182.3 |
114.4 |
76 |
0.06 |
0.01 |
|
|
|
incl. |
168.18 |
173 |
4.82 |
976 |
0.2 |
0.02 |
|
DSS507502 |
5075 |
|
82.1 |
165.52 |
83.42 |
116 |
0.03 |
0.04 |
|
|
|
incl. |
82.1 |
108.65 |
26.55 |
242 |
0.06 |
0.05 |
|
|
|
incl. |
145.38 |
165.52 |
20.14 |
155 |
0.02 |
0 |
|
DSS507503 |
5075 |
|
98.5 |
155.86 |
57.36 |
354 |
0.11 |
0.02 |
|
|
|
incl. |
98.5 |
116.94 |
18.44 |
403 |
0.16 |
0.01 |
|
|
|
incl. |
142.7 |
146.3 |
3.6 |
3,378 |
0.72 |
0.05 |
|
DSS522503 |
5225 |
|
62.95 |
244.22 |
181.27 |
100 |
0.04 |
0.01 |
|
|
|
incl. |
128.05 |
222.23 |
94.18 |
177 |
0.06 |
0.01 |
|
|
|
incl. |
205.55 |
222.23 |
16.68 |
754 |
0.2 |
0.01 |
|
DSS522504 |
5225 |
|
43.13 |
158 |
114.87 |
63 |
0.05 |
0.06 |
|
|
|
incl. |
76.18 |
134.14 |
57.96 |
118 |
0.05 |
0.01 |
|
DSS627501 |
6275 |
|
4.03 |
181.22 |
177.19 |
67 |
0.05 |
0.19 |
36.53m mined out |
|
|
incl. |
4.03 |
32.5 |
28.47 |
161 |
0.06 |
0 |
1.1m mined out |
|
|
incl. |
179 |
181.22 |
2.22 |
965 |
0.28 |
3.45 |
|
DSS645004 |
6450 |
|
27.6 |
105.93 |
78.33 |
56 |
0.05 |
0.07 |
23.45m mined out |
DSS647502 |
6475 |
|
13.43 |
72.5 |
59.07 |
99 |
0.05 |
0.01 |
12.06m mined out |
|
|
incl. |
18.28 |
23 |
4.72 |
450 |
0 |
0 |
end in mined out |
DSS662501 |
6625 |
|
46 |
185.85 |
139.85 |
31 |
0.1 |
0.17 |
10.25m mined out |
|
|
incl. |
46 |
49.48 |
3.48 |
216 |
0.06 |
0 |
|
DSS662502 |
6625 |
|
11.5 |
199.9 |
188.4 |
56 |
0.08 |
0.26 |
|
|
|
incl. |
11.5 |
61.38 |
49.88 |
184 |
0.07 |
0.07 |
|
DSS665004 |
6650 |
|
35 |
135.5 |
100.5 |
33 |
0.08 |
0.18 |
|
|
|
|
179.5 |
194.5 |
15 |
43 |
0.16 |
0.67 |
|
DSS667501 |
6675 |
|
32.5 |
241.85 |
209.35 |
39 |
0.11 |
0.38 |
5.4m mined out |
|
|
incl. |
170.38 |
178.66 |
8.28 |
157 |
0.37 |
1.44 |
|
DSS667502 |
6675 |
|
6.9 |
199.65 |
192.75 |
44 |
0.09 |
0.19 |
|
|
|
incl. |
6.9 |
14.2 |
7.3 |
287 |
0.02 |
0 |
|
|
|
incl. |
175.7 |
199.65 |
23.95 |
147 |
0.18 |
0.42 |
|
Notes: |
g/t = grams
per metric tonne. |
|
|
|
The table above is intended to show highlights of the drilling
program only. The intercepts shown are a weighted average of
the sample lengths and grades of all of the samples within that
intercept and may include some samples with grades less than 30 g/t
silver. |
|
|
|
Intersections may contain samples less than 30 g/t silver
between higher grade subintervals. |
|
|
|
Intervals are drill core length in meters. True width of
mineralization zones is estimated at about 80% of drill intervals
based on current understanding of the relationship between drill
direction and the mineralized structures. |
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