New Pacific drills 1.1 g/t gold over 514.85 metres at Carangas, Bolivia

New Pacific Metals Corp. [NUAG-TSX; NEWP-NYSE American], together with its local Bolivian partner, report drill results for another seven drill holes of the 2022 drill program at the 98%-optioned Carangas silver-gold project, Oruro Department, Bolivia.

The assay results reported here continue to expand silver and gold mineralization for the Carangas project, where near surface silver horizons are stacked over a broad bulk gold mineralization.

To date in 2022, 21,980 meters in 43 drill holes have been completed at Carangas. Assay results for the twelve drill holes from the 2022 drilling program have now been received and released with the first five holes released on July 13, 2022. The results for the remaining 31 holes are pending. The 2022 drill program is currently advancing well with five drill rigs.

Deep hole DCAr0044 was the sixth hole drilled into the emerging gold zone and successfully intersected 514 metres grading 1.1 g/t gold. The remaining other six holes are relatively shallow holes that targeted near-surface silver mineralization in the northern portion of the Central Valley.

Drill highlights include Gold Hole DCAr0044 that returned 514.85 metres interval (from 266.35 m to 781.2 m) grading 1.10 g/t gold and 6 g/t silver, including higher grade intervals of 14.15 metres (from 436.2 m to 450.35 m) grading 3.8 g/t gold, 11 g/t silver and 0.12% copper; 87.51 metres interval (from 472.4 m to 559.91 m) grading 2.57 g/t gold, 9 g/t silver and 0.12% Cu.

Silver Hole DCAr0041 returned 78.68 metres interval (from 37.8 m to 116.48 m) grading 75 g/t silver, 0.71% Pb and 0.69% Zn. Silver Hole DCAr0042 returned a 79.2-metre interval (from 53 m to 132.2 m) grading 77 g/t silver, 0.73% Pb and 1.43% Zn.

Silver Hole DCAr0045 returned 170.64 metres interval (from 8.36 m to 179 m) grading 88 g/t silver, 0.38% Pb and 0.61% Zn, including 72.17 metres interval grading 150 g/t silver. Silver Hole DCAr0046 returned 74.67 metres interval (from 7.68 m to 82.35 m) grading 102 g/t silver, 0.9% Pb and 0.36% Zn.

Silver Hole DCAr0047 returned 19.95 metres interval (from 77.5 m to 97.45 m) grading 163 g/t silver, 0.41% Pb and 1.31% Zn. Silver Hole DCAr0048 returned a 33.96-metre interval (from 142.5 m to 176.46 m) grading 104 g/t silver, 0.42% Pb and 0.68% Zn.

New Pacific’s flagship project, the Silver Sand Silver Project, is waiting for a new Mineral Resource Estimate Update and a PEA by the end of 2022. The recently discovered Carangas Silver-Gold Project is undergoing a 40,000-metre drill program. The third project, the Silverstrike Silver-Gold Project, commenced a 6,000-metre initial test drilling program in June 2022.