Welcome to our dedicated page for New Pacific Metals news (Ticker: NEWP), a resource for investors and traders seeking the latest updates and insights on New Pacific Metals stock.
New Pacific Metals Corp. (TSX: NUAG, NYSE American: NEWP) is a Canadian mining and metals company, located at 200 Granville St, Vancouver, British Columbia, Canada, focused on the exploration and development of precious metal properties in Bolivia. The Company's flagship project, the Silver Sand Project, is poised to become one of the world's largest silver mines. Their portfolio also includes the Carangas Silver-Gold Project and the Silverstrike Silver-Gold Project, both showcasing promising exploration potential.
New Pacific Metals Corp. has recently reported its financial results for the quarter ending March 31, 2024, detailing a net loss of $1.27 million. As of this date, the Company maintained a working capital of $23.67 million. The financial reports demonstrate a focused allocation of capital towards their key projects, with significant expenditures in the Silver Sand and Carangas projects.
Recent Achievements: Notably, the Company has made substantial advancements in its Silver Sand Project, including a successful metallurgical test program that confirmed the exceptional properties of the deposit. The test outcomes support the upcoming Preliminary Feasibility Study (PFS), expected by mid-2024, which will highlight the project’s economic and developmental potential. The Carangas Project is also progressing with a Preliminary Economic Assessment (PEA) set for mid-2024, aiming to outline its conceptual economics.
New Pacific's exploration strategy is underpinned by strong partnerships with major industry players. Silvercorp Metals Inc. and Pan American Silver Corp. are among its top shareholders, providing strategic support. The Company engages internationally recognized consulting firms for technical assessments, ensuring compliance with rigorous industry standards.
Community and Environmental Commitment: The Company is committed to responsible mining practices, working closely with local communities and adhering to environmental regulations. They are actively involved in the Environmental Impact Assessment Studies for their projects and aim to coexist with artisanal miners in the region, fostering sustainable development initiatives.
New Pacific Metals Corp. continues to strengthen its position with a solid balance sheet, enabling ongoing exploration and development activities. For further information and updates, the Company encourages stakeholders to visit their website or contact their investor relations team.
New Pacific Metals Corp. (TSX: NUAG, NYSE American: NEWP) announced assay results from the final 29 drill holes of its 2022 program at the Carangas Silver-Gold Project in Bolivia. All 115 holes drilled in 2022 have now been reported. Notable results include deep holes showing a gold interval of 306.95 m grading 1.2 g/t Au and 26 g/t Ag. Shallow holes confirmed near-surface silver mineralization, with significant intervals of up to 110.15 m grading 136 g/t Ag. The Company is nearing completion of a 15,000 m drill program, with resource estimation expected in Q2 2023. Additionally, an expanded IP survey revealed multiple chargeability anomalies, indicating further drill targets beyond the current drilling area.
New Pacific Metals Corp. (NYSE American: NEWP) announced updates on its three precious metal projects in Bolivia as of March 15, 2023. The Silver Sand Project is progressing with plans to complete a pre-feasibility study and secure an Environmental Impact Statement from the Bolivian Ministry. The Carangas Project is on schedule for a 15,000-meter drill program by March's end, with the first mineral resource estimate expected by mid-2023. However, exploration at the Silverstrike Project has been paused to prioritize Silver Sand and Carangas. A preliminary economic assessment reported a post-tax NPV of US$726 million for Silver Sand, alongside a 39% IRR, indicating strong economic viability.
New Pacific Metals Corp. (NEWP) has announced significant drill results from hole DCAr0096 at the Carangas Silver-Gold Project in Bolivia. Assay results reveal a substantial silver horizon with intervals of 94 g/t Ag and a notable gold zone with 524 m grading 1.24 g/t Au and 8 g/t Ag. The findings indicate high-grade gold associated with rhyolite intrusions, extending mineralization 60 m northeast from previous drilling. A total of 86 out of 115 holes drilled in 2022 have been analyzed, with future drilling planned to further explore gold mineralization. The company emphasizes stringent QA/QC protocols for the exploration program.
New Pacific Metals Corp. (NYSE American: NEWP) announced the filing of an independent Preliminary Economic Assessment (PEA) for its Silver Sand project in Potosi, Bolivia, effective November 30, 2022. The assessment, prepared under NI 43-101 standards, suggests a post-tax Net Present Value (NPV) of US$726 million and an Internal Rate of Return (IRR) of 39% based on a projected silver production of 171 million ounces over 14 years. The report involves several Qualified Persons from AMC Mining Consultants and Halyard Inc. and is accessible on SEDAR, EDGAR, and the company’s website.
New Pacific Metals Corp. (NYSE American: NEWP) reported its financial results for Q2 FY2023, ending December 31, 2022. The company posted a net loss of $1.87 million ($0.01 per share), compared to a loss of $1.30 million in the same quarter the previous year. Major highlights include a preliminary economic assessment (PEA) for the Silver Sand Project, indicating a net present value (NPV) of $726 million and an internal return rate (IRR) of 39%. Working capital stood at $14.4 million, enabling continued exploration of key projects. Operating expenses increased to $1.93 million from $1.36 million year-over-year.
New Pacific Metals Corp. (NEWP) has released assay results from the 2022 drill program at its Carangas Silver-Gold Project in Bolivia. The results cover 42 additional drill holes, indicating broad silver mineralization across a significant area, with 41 of the holes showing promising results. Highlights include drill hole DCAr0075, which reported a 230.26 m interval grading 146 g/t silver. The inaugural mineral resource estimate is expected later this year, aligning with the positive findings confirming the continuity of mineralization over a substantial area.
New Pacific Metals Corp. has appointed Andrew Williams as President, effective immediately. Williams will manage corporate development initiatives and investor relations, while supporting project development and growth. He joins from Sun Valley Gold LLC, bringing over 15 years of mining investment experience. Williams plans to contribute significantly to the company's Silver Sand and Carangas projects in Bolivia. He will also invest C$250,000 in New Pacific shares at a 10% discount, with additional subscription from newly elected director Dickson Hall, totaling C$300,000. The share purchase is subject to Toronto Stock Exchange approval.
New Pacific Metals Corp. (NYSE: NEWP) announced assay results from four deep drill holes at its Carangas Silver-Gold Project in Bolivia. A total of 50,368 m was drilled in 2022, with results from 43 holes released. Notable intercepts include hole DCAr0094, with a 504.62 m gold interval grading 1.22 g/t Au and 13 g/t Ag. The company plans to drill an additional 15,000 m in Q1 2023 to expand gold mineralization and will conduct a resource estimate in Q2 2023. New Pacific's rigorous quality control measures ensure the reliability of the results, as verified by its qualified personnel.
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