VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) -- New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to announce it has expanded its Silver Sand land package by acquiring a 100% interest in a Special Temporary Authorization (“ATE”) located immediately to the north of the project by making a one-time cash payment of US$200,000 to arm’s length private owners. This newly acquired ATE currently consists of six hectares but will total approximately 0.50 square kilometres once it has been consolidated to concessions called “Cuadriculas” and converted to Mining Administrative Contract with Bolivia’s Autoridad Jurisdiccional Administrativa Minera (“AJAM”).
The property is located about four kilometres to the north of the Company’s Silver Sand discovery and immediately to the north of the Company’s 100% owned Jisas ATEs. Geologically, the property is comprised of outcropping, strongly altered, Miocene dacitic intrusions, which are cut by numerous northwest striking silver mineralized structures similar to those that host mineralization on the Silver Sand Project. Additionally, there are widespread mining dumps as a result of historic mining since the Spanish colonial time and more recent artisanal exploitation. The fracture controlled mineralization style is similar to that at Silver Sand. Due diligence sampling conducted by the Company returned silver grades ranging from tens of grams to a few hundreds of grams per tonne.
Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia and the Tagish Lake Gold Project in Yukon, Canada.
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|New Pacific Metals Corp. |
|Gordon Neal |
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