New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp has released more encouraging drill results from four holes at its Phase 1 discovery program at the Carangas silver project in Bolivia.
The drill assays follow on from an initial two holes, reported in September this year, which also showed silver-rich polymetallic mineralization, including higher grades.
So far, these six holes, which tested the West Dome target at the project, have defined a mineralized area measuring around 1,000 meters (m) long by 700 meters wide and up to 400 meters in depth.
"Mineralization remains open in every direction, including at depth, beyond the current drill footprint," the company said in a statement.
READ: New Pacific announces expanded discovery drill program at the Carangas silver project
The latest highlights include an intercept of 228.3m at 73 grams per ton (g/t) silver-equivalent (AgEq) starting from surface in one hole. The length included an intersection of 18.06 m at 317 g/t AgEq and 182.5 m at 89 g/t AgEq, also starting from surface.
The Phase I program started in early June this year, and 3,790m were completed in 13 holes aimed at testing the depth extensions of the historically mined West and East Domes, as well the Central Valley target.
Assays for the remaining seven drill holes, which tested the East Dome and Central Valley targets are pending.
In late October this year, the company, together with its local Bolivian partner, announced that it has mobilized two additional drill rigs to Carangas as it expanded a Phase 2 drill program at the site.
That program will include three drill rigs and is expected to complete an additional minimum of 7,500 meters (m) of diamond drilling by the end of 2021.
Explorer New Pacific is focused on the Americas and its portfolio contains the Silver Sand project, the Silverstrike project, and the Carangas project, all of which are in Bolivia.
Contact the author at giles@proactiveinvestors.com