SAN FRANCISCO, March 06, 2019 (GLOBE NEWSWIRE) -- The company reported 190 out of 195 drill holes have shown near-surface silver mineralization.
Company mentioned: New Pacific Metals Corp. (NUAG:TSX.V; NUPMF:OTCQX)
We are barely into March, but New Pacific Metals Corp. has been moving nonstop, announcing major land expansion news and off-the-charts drill results.
In January, the company announced a major land expansion of its Silver Sand project in Bolivia though an agreement with Corporación Minera de Bolivia (COMIBOL) granting New Pacific the right to carry out exploration, mining and production on lands adjoining Silver Sand.
The Mining Production Contract (MPC) is for a total of 56.9 square kilometers, a many-fold increase from the original 3 square kilometer Silver Sand land package.
"It was the most significant mining transaction Bolivia has concluded in more than 10 years," Gordon Neal, president of New Pacific Metals, told Streetwise Reports. "The MPC is a first of its kind agreement between a public resource company and the Bolivian government."
New Pacific released drill results from Silver Sand. It has drilled 55,000 meters in 195 holes and has released assay results in stages. The first release covered 98 holes, and mineralization was found in 94 of the 98. This news was followed by the release of the remaining 97 holes; near-surface mineralization was found in 190 of the total 195 holes.
"The results have been impressive," Neal stated. "It's a recipe for a very large bulk-minable situation; it essentially starts at surface and goes down 300–350 meters."
Continue reading this article: Assay Results 'Give a Sense of the Tremendous Scope' of Bolivia Project
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