New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp continues to report encouraging results from its Phase 1 drill program at the Carangas discovery in Bolivia, which is increasing the footprint of silver-rich polymetallic mineralization.
The latest assays come from five holes at the Central Valley Zone, which sits between the West and East Domes, all of which hit mineralization starting near-surface and continued to depth.
Highlights included 125 grams per ton (g/t) of silver equivalent in an intercept of 40.13 metres (m) starting from a depth of 45.54m. Another hole showed 64 g/t silver equivalent over 236.81m starting from just 13.57m depth.
"Ongoing drilling continues to increase the size of the silver-rich polymetallic mineralization at the emerging Carangas discovery," said CEO Dr Mark Cruise in a statement.
"We are encouraged by the most recent intercepts in the Central Valley Zone which confirm the presence of a large mineralized system. The Phase II drill program, which is expected to be completed by year-end, will continue to test this area."
READ: New Pacific Metals well positioned with $41.7M to advance its flagship Silver Sand and Carangas projects in Bolivia
Earlier in November, the firm revealed that six holes, which tested the West Dome target had defined a mineralized area measuring around 1,000 meters (m) long by 700 meters wide and up to 400 meters in depth.
Highlights from those holes included an intercept of 228.3m at 73 grams per ton (g/t) silver-equivalent starting from surface.
As reported in October, 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 on the back of the encouraging assays.
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