VANCOUVER, October 19, 2022 – New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG) (NYSE American: NEWP), in collaboration with its local Bolivian partner, announces the research effects of 21 boreholes at its Carangas Silver-Gold Project, Department of Oruro, Bolivia (the “Carangas Project” or the “Project”). With the first five wells submitted on July 13, 2022 and the seven wells submitted on August 8, 2022, the investigation The effects of the 33 wells of the 2022 drilling program continue to cross a broad silver horizon near the surface measuring approximately 1,000 meters (“m”) long, 800 m wide and up to two hundred m thick. stacked in an area of giant bulk gold.
To date, 76 drilling wells have been completed and the testing effects of the remaining 43 boreholes are pending, adding several deep Carangas gold mineralization wells (fire test samples). Detailed effects and drill hole specifications are provided in Tables 1 and 2.
Of the 21 wells detailed in this press release, 19 were drilled in the Central Valley and West Dome, all of which intersected a broad silver horizon near the surface. In addition, two wild wells, DCAr0055 and DCAr0058, were drilled approximately 1200 m north of the Central Valley and intersected a narrow silver-containing mineralization.
HIGHLIGHTS OF THE SILVER HORIZON NEAR THE SURFACE
Well DCAr0077: consisting diameter of 163. 04 m (67. 71 m to 230. 75 m) with 109 gram grade consisting of tonne (“g/t”) silver (“Ag”), 0. 34% (“%”) lead (“Pb”) and 0. 8% zinc (“Zn”), of which 47. 09 m (67. 71 m to 114. 8 m) grade 288 g/t Ag, 0. 85% Pb and 1. 76% Zn;
Drilling DCAr0056: from 180. 14 m (from 25. 09 m to 205. 23 m) to 71 g/t Ag, 0. 23% Pb and 0. 75% Zn, adding 50. 6 m (from 25. 09 m to 75. 69 m) to 166 g/t Ag, 0. 43% Pb and 1. 5% Zn;
Drill DCAr0057: 127. 41 m (9. 7 m to 137. 11 m) at 60 g/t Ag, 0. 35% Pb and 0. 68% Zn, of which 33. 24 m (47. 8 m to 81, 04 m) at 165 g/t Ag, 0. 54% Pb and 1. 0% zinc;
Well DCAr0063: 100. 4 m (29. 0 m to 129. 4 m) at 104 g/t Ag, 0. 26 % Pb and 0. 45 % Zn, adding 18. 94 m (107. 6 m to 126. 54 m) at 247 g/t Ag, 0. 48 % PbArray 0. 21 % Zn ;
Drilling DCAr0064: 220. 85 m (16. 7 m to 237. 55 m) at 50 g/t Ag, 0. 34% Pb and 0. 88% Zn, adding 50. 9 m (16. 7 m to 67. 6 m) at 97 g/t Ag, 0. 52% Pb and 0. 83% zinc;
Well DCAr0070: period of 128. 53 m (11. 32 m to 139. 85 m) with grade of 83 g/t Ag, 0. 4% Pb and 0. 83% Zn, 64. 0 m (44. 0 m to 108. 0 m) with grade of 149 g/t Ag, 0. 56% Pb and 1. 33% Zn. The gap also intersected a deeper period of 8. 13 m (207. 8 m to 215. 93 m) with a grade of 629 g/t Ag, 0. 58% Bp and 0. 18% Zn; and
Drilling DCAr0076: 127. 82 m (29. 0 m at 156. 82 m) at 63 g/t Ag, 0. 68% Pb and 0. 53% Zn, adding 21. 03 m (48. 32 m to 69. 35 m) at 150 g/t Ag, 0. 87% Pb and 0. 72% Zn, and 7. 13 m (98. 57 m at 105. 7 m) grade of 315 g/t Ag, 2. 5% Pb and 1. 11% Zn.
Table 1 Summary of drilling joints
Hole_ID
Profundidad_desde
Profundidad_hasta
Intervalle_m
Ag_g/t
Au_g/t
Pb_%
Zn_%
Cu_%
AgEq_g/t
DCAr0050
26:00
193. 30
167,30
41
n/A
0,27
0,72
0,01
74
included
78,49
103. 19
24. 70
132
n/A
0,38
0,92
0,01
175
222,60
223,72
1. 12
148
n/A
0,01
0,08
0,01
152
DCAr0051
67,78
236,00
168. 22
47
n/A
0,24
0,55
0,02
73
DCAr0053
6,77
286,84
280. 07
37
n/A
0,42
0,73
0,02
76
16. 92
87,22
70. 30
96
n/A
0,98
1. 09
0,02
163
312,80
323,78
10,98
5
n/A
0,30
0,64
0,00
35
335,20
347,45
12:25
Seven
n/A
0,64
1. 14
0,01
64
DCAr0054
43. 45
217. 27
173,82
57
n/A
0,34
1. 04
0,01
103
78,67
89,57
10. 90
136
n/A
0,59
1,59
0,02
209
172,55
189,40
16. 85
193
n/A
0,51
0,69
0,01
231
DCAr0055
No interceptions
DCAr0056
25. 09
205. 23
180. 14
71
n/A
0,23
0,74
0,01
103
included
25. 09
75,69
50,60
166
n/A
0,43
1,50
0,02
227
DCAr0057
9. 70
137. 11
127,41
60
n/A
0,35
0,68
0,01
94
included
47,80
81. 04
33. 24
165
n/A
0,54
1,00
0,01
215
DCAr0058
214,60
215,90
1h30
52
n/A
0,11
0,11
0,01
77
DCAr0061
1. 39
138,68
137,29
57
n/A
0,41
0,51
0,01
87
included
49,80
65,00
15:20
272
n/A
1. 20
0,87
0,03
339
DCAr0063
29. 00
129,40
100,40
104
n/A
0,26
0,45
0,01
127
included
107,60
126,54
18. 94
247
n/A
0,48
0,21
0,02
270
DCAr0064
16:70
237,55
220,85
50
n/A
0,34
0,88
0,01
90
included
16:70
67,60
50,90
97
n/A
0,52
0,83
0,01
140
included
194,85
221. 10
26. 25
106
n/A
0,28
0,57
0,01
134
245. 50
274,70
29. 20
5
n/A
0,31
0,51
0,00
31
293,70
301. 25
7,55
21
n/A
0,34
0,63
0,00
52
324,35
328,30
3,95
13
n/A
0,71
1h30
0,01
78
DCAr0065
27. 05
35,70
8,65
31
n/A
0,08
0,06
0,00
36
64,85
103,40
38,55
33
n/A
0,23
0,58
0,01
60
DCAr0066
53,87
281,00
227. 13
22
n/A
0,32
0,86
0,01
62
included
220,90
241. 36
20. 46
68
n/A
0,33
0,66
100
DCAr0068
25,65
221. 52
195,87
39
n/A
0,41
1. 19
0,01
92
DCAr0069
64. 33
287,42
223. 09
17
0,01
0,50
1. 29
0,02
77
included
64. 33
108,56
44. 23
50
0,59
0. 91
0,01
98
300,60
345. 08
44,48
6
0,05
0,42
0,72
0,01
47
370. 19
380,54
10:35
4
0,36
0,70
0,00
37
DCAr0070
11:32
139,85
128,53
83
n/A
0,40
0. 83
0,01
123
included
44. 00
108. 00
64,00
149
n/A
0,56
1. 33
0,01
211
158,00
169. 33
11:33
22
n/A
0,09
0. 16
0,00
30
207,80
215,93
8. 13
629
n/A
0,58
0,18
0,02
653
DCAr0072
7,70
162,65
154,95
42
n/A
0,33
0,69
0,01
76
included
55. 19
74,70
19. 51
134
n/A
0,50
1. 05
0,01
185
included
105,90
110. 30
4. 40
374
n/A
0,83
0,69
0,02
422
233,47
238,60
5. 13
52
n/A
0,06
0,13
0,00
58
DCAr0073
67,20
147,00
79,80
31
n/A
0,44
1,67
0,02
101
164,81
223. 24
58. 43
30
n/A
0,14
0,36
0,01
47
234,90
251,68
16. 78
23
n/A
0,34
0,55
0,00
51
DCAr0076
29. 00
156,82
127,82
63
n/A
0,68
0,53
0,02
102
included
48. 32
69. 35
21. 03
150
n/A
0,87
0,72
0,02
202
included
98,57
105,70
7. 13
315
n/A
2,50
1. 11
0,04
429
212. 25
222,56
10. 31
66
n/A
0,02
0,01
0,02
69
DCAr0077
67,71
230,75
163. 04
109
n/A
0,34
0,80
0,02
147
included
67,71
114,80
47. 09
288
n/A
0,85
1,76
0,04
376
DCAr0079
80,66
95,30
14. 64
55
n/A
0,37
0,30
0,01
76
151,67
161. 42
9,75
22
n/A
0,04
0,28
0,01
34
Remarks:
1. La location, altitude, azimuth and dip of the well are found in Table 2.
2. La intersection of the well will correspond to the duration of the core and the grade will be weighted according to the duration. The actual thickness of the mineralization is unknown due to the initial level of exploration without sufficiently good drilling data.
3. The calculation of silver equivalent (“AgEq”) is based on the long-term median August 2021 commodity value forecast of $22. 50/oz for Ag, $0. 95/lb for Pb, $1. 10/lb for Zn, $3. 40/lb for Cu and $1600/oz for Au. The formula used for the calculation of AgEq is: AgEq = Ag g/t Pb g/t * 0. 0029 Zn g/t * 0. 00335 Cu g/t * 0. 01036 Au g/t * 71. 1111 . This calculation assumes a recovery of one hundred percent. Due to the early level of the Project, the Company has not yet completed metallurgical testing of the mineralization found to date.
4. Se implement a limit of 20 g/t AgEq to calculate the length-weighted intersection. Sometimes, samples below 20 g/t AgEq may be included in the mineralized intersection consolidation calculation.
5. N/A that no gold pyroanalysis has been performed.
2022 DRILLING PROGRAM PREVIEW
Five rigs are drilling in the Carangas allocation for the planned drilling program of 40,000 m in 2022 (36,012 m in 76 boreholes completed to date). The existing program, which is expected to be completed by mid-December, will constitute a 50m 50m to 100m through a 100m drilling grid and deserves to be able to make an initial estimate of mineral resources in 2023.
Table 2 Summary of wells for the Carangas 2022 drilling program
agujero_id
Abscissa
ordinate
Altitude
profundidad_m
Azimuth (°)
Hollow (°)
Target
DCAr0050
539182. 72
7905514. 58
3907. 40
300,00
20
-45
CV
DCAr0051
539217. 76
7905453. 94
3907. 94
500,00
20
-45
CV
DCAr0053
539013. 91
7905342. 94
3906. 16
401,00
20
-45
CV
DCAr0054
539052. 96
7905452. 20
3908. 93
302,00
20
-45
CV
DCAr0055
541548. 94
7906645. 91
3928. 74
425,00
20
-68
Regional
DCAr0056
539082. 78
7905520. 35
3910. 80
245,00
20
-45
CV
DCAr0057
539094. 02
7905553. 36
3911. 77
250,00
20
-45
CV
DCAr0058
540389. 97
7906058. 28
3920. 38
311,00
20
-45
Regional
DCAr0061
539106. 25
7905586. 53
3916. 75
250,00
20
-45
CV
DCAr0063
539120. 73
7905628. 36
3923. 75
300,00
20
-45
Wd
DCAr0064
539032. 73
7905374. 23
3906. 24
335,00
20
-45
CV
DCAr0065
539132. 59
7905668. 06
3933. 42
250,00
20
-45
Wd
DCAr0066
539085. 47
7905379. 05
3905. 93
324,00
20
-45
CV
DCAr0068
539106. 17
7905436. 16
3906. 79
302,00
20
-45
CV
DCAr0069
539063. 64
7905317. 93
3906. 26
400,00
20
-45
CV
DCAr0070
539127. 28
7905496. 87
3907. 29
260,00
20
-45
CV
DCAr0072
539148. 79
7905553. 29
3907. 11
251,00
20
-45
CV
DCAr0073
539153. 06
7905424. 34
3907. 89
300,00
20
-45
CV
DCAr0076
539270. 05
7905596. 70
3908. 23
270,00
20
-45
CV
DCAr0077
539203. 27
7905408. 07
3907. 69
272,00
20
-45
CV
DCAr0079
539290. 00
7905650. 10
3908. 29
250. 00
20
-45
CV
Note:
1. La coordinate of the drill is WGS1984 UTM Zone 19S
2. Bar mass coordinates are decided with GPS Real Time Kinematics (RTK)
3. CV – Central Valley; WD – West Dome
QUALITY ASSURANCE AND QUALITY CONTROL
The Company maintains strict safety and QA/QC standards for all facets of its exploration program on the Carangas assignment. Drill core is logged, photographed and split on site through the company and stored in secure conditions until shipped in sealed bags via New Pacific’s workforce in corporate vehicles, directly from assignment to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical investigation. ALS Global is an ISO 17025 accredited laboratory independent of New Pacific. All standards are first analyzed through a multi-element ICP suite (ALS code ME-MS41) with specified ore grade limits for silver, lead and zinc further analyzed using ALS code OG46. Other silver standards that exceed specified limits are analyzed by gravimetric investigation (ALS code of GRA21). Gold is analyzed first via ICP and then via an AAS-end stack assay (ALS code of Au-AA25). Certified reference materials, various types of blank patterns, and duplicate patterns are inserted into general sequences of drill core patterns before being sent to the laboratory for preparation and investigation. The overall ratio of quality patterns to pattern sequences is about twenty percent.
QUALIFIED PERSON
The clinical and technical data contained in this press release has been reviewed and approved by Alex Zhang, P. Geo. , Vice President of Exploration, who is a Qualified Individual for purposes of National Instrument 43-101 – Disclosure Standards for Mineral Projects (“NI 43-101”). The qualified user has verified the data disclosed herein, adding the sampling, preparation, protection and analysis procedures underlying such data, and is not aware of any significant hazards and uncertainties that may only be reliable or reliable. about the data discussed here.
New Pacific is a Canadian exploration and development company with precious metals assignments in Bolivia. The company’s primary assignment, the Silver Sand Silver Project, is expected to provide a more up-to-date estimate of mineral resources and PEAs through the end of 2022. The recently found Carangas Silver-Gold allocation is on a 40,000 m drilling program. The third assignment, the Silverstrike Silver-Gold assignment, began a 6000m discovery drilling program in June 2022 and discovered a giant gold zone near the surface in its first drilled well.
For information, please contact:
Dr. Rui Feng, CEO and Director
New Pacific Metals Corp. Phone: (604) 633-1368 U. S. toll-free numberUSA & Canada: 1-877-631-0593 Email: invest@newpacificmetals. com
For more information and to get corporate news via email, sign up for New Pacific’s in www. newpacificmetals. com.
Some of the emails and settings contained in this news release constitute “forward-looking emails” within the meaning of the United States Private Securities Litigation Remodeling Act of 1995 and “forward-looking settings” within the meaning of applicable law. applicable Canadian provincial values. . Any way or manner that expresses or leads to discussions relating to long-term predictions, expectations, beliefs, plans, projections, goals, assumptions, or occasions or manner (often, but not always, using words or expressions such as “expects,” “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “supposes”, “intends”, “strategies”, “goals”, “goals”, “forecasts”, “objectives” , “assumptions”, “schedules”, “potentials” or diversifications thereof or indicating that certain actions, occasions or effects “could”, “could” Array “would”, “could” or “should” be taken, occur or be achieved Array or the negative form of any of those similar terms and expressions) are not ancient facts and would possibly be a prospective form. Such s include, but are not limited to: s identifying the Company’s exploration, drilling, development, structuring and other planned activities or achievements; time of receipt of authorizations and regulatory approvals; the timing and content of the PEA, and estimates of the Company’s revenues and capital expenditures; and other long-term plans, objectives or expectations of the Company.
Forward-looking statements or data are subject to a variety of known and unknown risks, uncertainties and other problems that may cause actual events or effects that differ from those reflected in the forward-looking statements or data, including, but not limited to, risks. similar to: global economic and social impact of COVID-19; fluctuations in inventory prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, general economic conditions, exchange rate hazards, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; management dependence, uncertainties similar to the availability and prices of mandatory financing in the future, environmental hazards, operations and political conditions, the regulatory environment in Bolivia and Canada; relevant dangers with network relations and corporate social responsibility, and other points described under the heading “Risk Factors” of the Annual Information Form of the Company for the year ended June 30, 2021 and its other public presentations.
This list is not exhaustive of items that are likely to be forward-looking statements or information of the Company.
Forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and revisions of control as of the date of this press release which, considered reasonable through control, are inherently subject to significant business, economic and competitive uncertainties. . . and contingencies. These estimates, assumptions, beliefs, expectations and characteristics include, but are not limited to, those that are similar to the Company’s ability to conduct its current and long-term business, and add: the duration and effects of COVID -19 in our business and our workforce; progression and exploration activities; the moment, the scope, the duration and the economic capacity of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and evaluations; the Company’s ability to meet or achieve estimates, projections and forecasts; stabilization of the political climate in Bolivia; the Company’s ability to discharge and hold a social license over its mining properties; availability and cost of supplies; production and market value; exchange rates; tax levels; the timely receipt of mandatory approvals or permits, adding the ratification and approval of the mining production contract with COMIBOL through the Plurinational Legislative Assembly of Bolivia; the ability of the Company’s Bolivian spouse to convert the Carangas Project exploration licenses to AMC; the ability to meet existing and long-term obligations; the ability to offload timely financing on moderate terms, if necessary; existing and long-term social, economic and political conditions; and other assumptions and points sometimes relevant to the mining industry.
Although the forward-looking statements contained in this press release are based on what control considers to be moderate assumptions, there can be no assurance that the actual effects will be consistent with such forward-looking statements. All forward-looking statements contained in this press release qualify through those cautionary statements. Consequently, readers deserve not to place undue reliance on those statements. Except as required by applicable law, the Company has no legal responsibility and expressly disclaims any legal responsibility to update or adjust any forward-looking statements, whether as a result of new information, long-term events or otherwise, as required by law. These forward-looking statements are made as of the date of this press release.
This press release, which adds the documents incorporated by reference herein, has been prepared pursuant to the requirements of applicable securities law in Canada, which differ from the requirements of U. S. securities law. All mining terms used herein but not explained differently have the meanings set forth in NI 43-101.
Accordingly, the data contained in this press release and the documents incorporated herein containing descriptions of the Company’s mineral deposits may not be comparable to data made public through U. S. corporations. The U. S. Securities and Security Department of State regarding the information and disclosure needs of U. S. federal securities legislationU. S. below.
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