New Pacific Metals Corp (CVE:NUAG) (OTCQX:NUPMF) unveiled assay results Thursday, reporting "significant silver mineralization" from the first eight drill holes at its wholly-owned flagship Silver Sand project located in the Potosí Department of Bolivia.
The company's 2019 drill program kicked off in April, and there are currently three drill rigs on site, with the program expected to continue throughout the rest of the year. The first eight holes were part of an infill drilling program, aimed at producing a mineral resource estimate at the end of 2019.
"These first eight infill holes have intercepted significant silver mineralization similar to those reported from the 2018 drilling program, and adequately confirms the continuity of mineralization within the drilled extents," noted the company in a release on Thursday.
READ: New Pacific Metals poised at new silver exploration frontier in Bolivia
The company reported a number of drill results, including 144.2 metres, grading 169 g/t (grams per tonne) silver, including 73.1 meters at 243 g/t silver.
Other drill holes reported results that included 110.28 metres, grading 98 g/t silver, which included 9.05 metres at 609 g/t silver, from 149.3m to 158.35m.
Another drill hole highlight included 76.3 metres, grading 150 g/t silver.
The firm also noted that based off grab and chip samples, the company also found amounts of indium and gallium -- metals which have a variety of uses, including electronic circuits.
2019 drill program continues
The firm said that in addition to the infill drilling targets, the 2019 program will also aim to target prospects with good silver grades from historical artisanal mining dumps to expand mineralization zones, as well as those that show similar silver mineralization as shown by historical artisanal mining and drilling for samples in order to push metallurgical test work forward.
New Pacific Metals is exploring and developing precious and base metals properties in South America, Canada and China. Its flagship property is the Silver Sand project in the Potosí Department of Bolivia. New Pacific's largest shareholders are Silvercorp Metals Inc. (TSE:SVM) and Pan American Silver Corp. (TSE:PAAS) (NASDAQ:PAAS).
Contact Katie Lewis at katie@proactiveinvestors.com