New Pacific Extends Broad Areas of Silver Mineralization at Its Silverstrike Project, Bolivia
New Pacific Metals reported promising exploration results at its Silverstrike Project in Bolivia. Highlights include:
- 1,865 g/t Ag and 0.96% Pb over 2.0 m
- 1,665 g/t Ag, 0.43% Pb, and 1.42% Cu over 2.0 m
The 2,751 samples collected suggest excellent potential for high-grade silver and base metals. The project is strategically located in the historical Berenguela Mining District, and detailed geological mapping has identified multiple mineralized zones.
- Discovery of high-grade silver mineralization with grades reaching up to 3,220 g/t Ag.
- Successful completion of a comprehensive 2,751 sample exploration program indicating strong exploration potential.
- High silver and base metal grades could enhance the project's commercial viability.
- None.
Highlights 1,865 g/t Ag and
VANCOUVER, British Columbia, Sept. 29, 2020 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to provide an update on its exploration activities at its Silverstrike Project, Bolivia. New Pacific acquired a
Summary highlights of the results received to date are tabulated below in Table 1 (1) (2) (3):
| Table 1 – Summary Assay Results from the Silverstrike North (1) (2) (3) | |||
| Area/Zone | Sample Type | Highlight Assay Results | Comment |
| Valley Zone | Channel Chip | 689 g/t Ag and | Underground |
| Channel Chip | 1,100 g/t Ag and | Underground | |
| North Top | Channel Chip | 696 g/t Ag, | Surface outcrop |
| Tarafaya | Channel Chip | 909 g/t Ag, | Surface outcrop |
| South Top | Channel Chip | 906 g/t Ag, | Surface outcrop |
| Mine Dump Grab | 1,185 g/t Ag, | Surface mine dump | |
| CP Zone | Channel Chip | 1,665 g/t Ag, | Underground |
| Channel Chip | 1,865 g/t Ag, | Surface outcrop | |
| Mine Dump Grab | 888 g/t Ag, | Surface mine dump | |
| West Top | Channel Chip | 960 g/t Ag, | Surface mine dump |
| Breccia Zone | Channel Chip | 54 g/t Ag, | Surface outcrop |
| Mine Dump Grab | 713 g/t Ag, | Surface mine dump | |
| San Luis Mine | Channel Chip | 178 g/t Ag and | Underground |
| Mine Dump Grab | 504 g/t Ag, | Surface mine dump | |
| Lourdes Ines Mine | Channel Chip | 239 g/t Ag and | Surface outcrop |
| Mine Dump Grab | 1,675 g/t Ag, | Surface mine dump | |
| Turini Zone | Channel Chip | 257 g/t Ag, | Surface outcrop |
| Mine Dump Grab | 3,220 g/t Ag, | Surface mine dump | |
(1) The highlights are sourced from the assay results of 2,751 samples taken to date at Silverstrike North area. | |||
| (2) Grab samples are selective in nature and are not necessarily representative of in situ mineralization. | |||
| (3) Channel chip sample interval is close to true width as samples were collected across and normal to mineralized structures. | |||
Detailed Mapping and Sampling Program
Silverstrike North is centred on the historic Berenguela Mining District and is characterized by abundant historic mine adits, declines, shafts and spoil heaps scattered intermittently over an approximately 3.5 by 2.2 km area. It includes the Valley Zone, North Top, Tarafaya Mine, South Top, West Top, and CP Zone in addition to the former San Luis Mine, Lourdes Ines Mine and the Turini Mine which are discussed below (Figure 1).
In March 2020, the Company initiated an integrated exploration program consisting of 1:5000 scale reconnaissance and 1:500 scale detailed geological, structural and alteration mapping and geochemical sampling programs. The program aimed to geologically define and sample the extents of the hydrothermal system(s), including extensive Spanish Colonial-era historic workings to develop drill targets.
The exploration team identified and sampled numerous mining adits, declines, shafts and surface open pits. Historic mining operations were developed along steeply dipping fracture zones which ranged from 0.5-2 meters wide developed in altered / bleached Tertiary aged sandstones. In addition, several new mineralized zones were identified as part of the field work.
A total of 2,751 samples were collected including 2,607 channel chip samples and 144 mine dump grab samples. Majority of the samples were taken from surface outcrops of alteration and mineralization. All 2,751 assay results have been received of which, 56 samples have silver grades >300 g/t (average 696 g/t Ag), 163 samples with >100 g/t (average 347 g/t Ag), and 236 samples >50 g/t (average 262 g/t Ag).
Representative channel chip samples were collected perpendicular to outcropping altered fractures, however, in many areas historic mining activities and resultant waste dumps obscure the facture zones. Underground channel chip sampling across mineralized zones typically returned grades ranging from a few hundred to more than one thousand ppm Ag and associated base metals (Pb, Zn and Cu – see tables for details).
DETAIL – see Figure 1 for locations
Valley Zone forms the core of the Berenguela Mining District and is defined by abundant historic mine workings over an area of approximately 1,800 m long in an E-W direction and 300 m wide in a N-S direction (Figure 1). Six adits were mapped and sampled and 20 channel chip samples of mineralized veins were collected returning average grades of 306 g/t Ag,
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4113a5ed-a9a9-46e3-bc12-9e216bc34c96
North Top Zone located immediately north of the Valley Zone is comprised of sub-horizontal sandstones cut by NWW striking mineralized fractures over an area 1,600 m long in E-W direction and 300 m wide in a N-S direction (Figure 1). Channel chip sampling returned grades up to 696 g/t Ag and
Tarafaya Mine Zone is located approximately one kilometre to the north of Berenguela village (Figure 1). The channel chip sampling across mineralized fractures returned grades of up to 909 g/t Ag, and
West Top Zone forms a topographic high of horizontal sandstones adjacent to the Valley Zone (Figure 1). Mine dump grab sampling returned grades up to 265 g/t Ag and
South Top Zone is a flat area of sub-horizontal sandstones cut by numerous NWW striking mineralized fractures defining a mineralized corridor 1,600 m long in E-W direction and 300 m wide in N-S direction (Figure 1).
The team collected 448 samples of which grab sample results returned values up to 1,185 g/t Ag,
| Table 2 - Summary of Assay Results from the South Top Zone (1) (2) | ||||
| Sample # | Agg/t | Pb_% | Cu_% | Sample type |
| SCH001898 | 428 | 0.37 | 0.03 | 2m chip |
| SHC000147 | 413 | 0.48 | 0.38 | dump |
| SHC000148 | 368 | 0.07 | 0.07 | dump |
| SHC000201 | 523 | 0.05 | 0.01 | 1m chip |
| SHC000202 | 307 | 0.76 | 1.45 | dump |
| SHC000209 | 325 | 0.24 | 0.73 | dump |
| SHC000213 | 1,185 | 10.55 | 1.15 | dump |
| SHC000223 | 906 | 0.39 | 0.57 | 1.5m chip |
| SHC000225 | 687 | 1.36 | 0.66 | dump |
| SHC000232 | 594 | 0.13 | 0.12 | dump |
| SHC000233 |
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FAQ
What are the recent assay results from New Pacific Metals at the Silverstrike Project?
Recent assay results revealed high grades including 1,865 g/t Ag and 0.96% Pb over 2.0 m and 1,665 g/t Ag, 0.43% Pb, and 1.42% Cu over 2.0 m.
What is the significance of the Silverstrike Project's exploration results for NUPMF investors?
The exploration results indicate excellent potential for high-grade silver and base metals, which could positively impact the company's valuation and future prospects.
What is the extent of the sampling conducted at the Silverstrike Project?
A total of 2,751 samples have been collected, including 2,607 channel chip samples and 144 mine dump grab samples.
Where is the Silverstrike Project located?
The Silverstrike Project is situated in the historic Berenguela Mining District in Bolivia.
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