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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. (NEWP) announced assay results from its initial drill hole at the Silverstrike Project in Bolivia, revealing a significant gold discovery. Drill hole DSSk0001 intersected 195.05 meters with an average grade of 0.96 g/t gold and 6 g/t silver, including a high-grade section of 36.06 meters grading 3.97 g/t gold and 20 g/t silver. This success follows the company's strategic drilling initiatives launched in June 2022, aimed at expanding their mineral resources. The results affirm the firm's ability to enhance shareholder value through effective exploration.
New Pacific Metals Corp. reported its financial results for the year ending June 30, 2022, showing a net loss of $6.42 million, equivalent to $0.04 per share. Operating expenses increased to $6.78 million from $5.95 million in the previous year. The company maintained working capital of $29.3 million, enabling the advancement of exploration projects, including the ongoing drill programs at the Silver Sand and Carangas projects. The company also completed a successful initial drill program at the Carangas project with significant silver and gold mineralization.
New Pacific Metals Corp. (NEWP) reported positive assay results from its Carangas Silver-Gold Project in Bolivia, revealing significant mineralization. The 2022 drill program has completed 21,980 meters across 43 drill holes, with results for 12 holes released. Highlights include Drill Hole DCAr0044, which intersected 514.85 meters grading 1.1 g/t gold and 6 g/t silver. Additional holes also displayed high silver grades, including DCAr0045 with 170.64 meters at 88 g/t silver. The successful drilling suggests strong potential for further exploration and resource expansion.
New Pacific Metals Corp. (NEWP) announced assay results from the first five drill holes of its 2022 drill program at the Carangas Silver-Gold Project in Bolivia. A total of 16,754 meters have been drilled in 31 holes. Highlights include Hole DCAr0039, revealing a 535.63 m interval grading 1.00 g/t Au and 11 g/t Ag, and Hole DCAr0038 with a 58.10 m interval grading 507 g/t Ag. The company has initiated preliminary metallurgy tests on mineralized materials, with results from 26 remaining holes expected in up to 10 weeks.
New Pacific Metals Corp. (NYSE American: NEWP) has initiated a 6,000-metre drilling program at its Silverstrike Project in Bolivia, focusing on a gold zone revealed through previous drilling. The Silverstrike Project spans 13 km², with New Pacific holding a 98% interest. Notable historical results include 4.7 m grading 14.76 g/t Au and 27 g/t Ag. The company plans to fund all future exploration and mining costs. The project is strategically significant due to its proximity to other assets and potential resource growth.
New Pacific Metals Corp. (NYSE: NEWP) has commenced a 2,000-meter exploration drilling program at the Jisas prospect, located 3 kilometers north of the Silver Sand Project. This follows the completion of the infill and step-out drilling for a mineral resource update scheduled for later in 2022. The Company holds 100% interest in Jisas, which previously underwent small-scale mining. Surface and underground samples returned silver grades from tens to 900 grams per tonne. The findings will be crucial for future assessments and economic evaluations.
New Pacific Metals Corp. (NYSE: NEWP) announced assay results from 20 additional drill holes at its Silver Sand Project. A total of 21,309 metres have been drilled in 94 holes for 2022, surpassing the initial budget of 15,000 metres. Notable findings include drill hole DSS646001, which intersected 60.48 metres grading 236 g/t silver, including 6.45 metres grading 1,423 g/t silver. The results confirm high-grade mineralization continuity in the southern portion of the deposit. Remaining assay results from 59 holes are pending, with a mineral resource estimate update expected in the second half of 2022.
New Pacific Metals Corp. (NEWP) announces assay results from its 2021 Discovery Drill Program at the Carangas Silver-Gold Project in Bolivia, completing a total of 35 drill holes. Highlights include hole DCAr0031, which intersected 595.7 m grading 1.25 g/t gold and 7 g/t silver, and hole DCAr0032, with a peak of 1,213 g/t silver over 10.25 m. The company is now advancing its 2022 drilling program, expecting to complete an additional 40,000 m. Approximately 10,000 m have been drilled in 2022, with results pending for 15 holes. Assay processes are managed by ALS Global, an ISO-accredited laboratory.
New Pacific Metals Corp. reported its financial results for the three and nine months ended March 31, 2022. The company incurred a net loss of $1.41 million or $0.01 per share for the quarter, slightly improved from a loss of $1.69 million in the same period last year. For the nine months, the net loss was $4.08 million, down from $4.59 million. Working capital stood at $34.7 million, adequate for advancing key projects. Significant drill results were reported from the Silver Sand and Carangas projects, indicating promising mineralization.
New Pacific Metals Corp. (NYSE American: NEWP) announced significant assay results from its 2021-2022 drilling program at Silver Sand. The 2021 program involved 13,313.7 meters across 55 holes, while 10,520 meters across 48 holes were completed in 2022. Noteworthy results include drill hole DSS529001, which intersected 86.03 meters grading 229 g/t silver, confirming high-grade mineralization continuity. The company plans to finish the 2022 drill program by April, with all assay results expected by June and an updated resource estimate by September.
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