New Pacific Metals (TSX:NUAG,OTCQX:NUMPF) has launched its campaign on the Investing News Network’s resource channel.
New Pacific Metals is an exploration and development company targeting projects in Bolivia. The company’s largest shareholders are Silvercorp Metals Inc. (TSX:SVM), the largest primary silver producer in China, and Pan American Silver Corp. (TSX:PAAS), one of the world’s largest primary silver producers. Both Silvercorp and Pan American Silver hold additional Bolivian assets.
New Pacific Metals’ flagship Silver Sand project is located in the Potosí Department of Bolivia. The Silver Sand project hosts a 2020 NI-43 101 compliant resource estimate, including measured and indicated resources of 35.39 Mt at 137 g/t silver for 155.86 Moz and an inferred resource of 9.84 Mt at 112 g/t silver for 35.55 Moz. In addition to the Silver Sand project, New Pacific acquired the Silverstrike project, a project similar to Silver Sand, in December 2019.
New Pacific Metals’ company highlights include the following:
- Resource: Detailed drilling indicates mineral continuity, providing high confidence and lower technical risk. Silver Sand hosts measured and indicated tonnes of 35.39 Mt at 137 g/t silver for 155.86 Moz, plus 9.84 Mt at 112 g/t silver for 35.55 Moz in the inferred category. Potential exploration upside at Silver Sand north blocks and southeast blocks.
- Open Pit: Mineralization starts at or near surface and is amenable to potential open-pit mining extraction. Approximately 70 percent of the resources are within 200 meters of the conceptual open-pit surface.
- Recovery Rates: Favorable initial metallurgical test work indicates laboratory-based recoveries of up to 97 percent for the various oxide – transition and sulfide mineral domains (see news release dated August 23, 2019). Updated metallurgical work is underway.
- Quality Leadership: Board and management consist of former top executives from mining majors such as Anglo American, Trevali Mining, Eldorado Gold, Silvercorp Metals and MAG Silver. Experienced in bringing projects from exploration and development to production.
- Capital Structure: As of June 2020, the treasury stands at C$68.6 million. On June 9, 2020, New Pacific closed a second Bought Deal Financing C$25 million.
- Exploration Progress: PEA for Silver Sand is currently underway and due for release in Q1, 2021. More results are expected from open targets in Silver Sand.
- Graduation: On August 12 New Pacific Metals graduated from the Toronto Venture Exchange (TSXV) to the Toronto Stock Exchange (TSX).
- Another Asset for New Pacific Metals: New Pacific Metals acquired the Silverstrike project from an arm’s length private Bolivian corporation in December 2019. The Silverstrike project includes three distinct zones of mineralization: Silverstrike North, Central and South.