New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp announced that it has appointed founder and former CEO Dr Rui Feng as the chair of its board of directors.
The company noted that Feng, who led the company from 2010 to April 2020, is also CEO and chair of Silvercorp Metals Inc (TSX:SVM, AMEX:SVM), its largest shareholder with ownership of 28.3%.
His appointment was made by the newly elected board of directors following its annual general meeting on December 3, 2021, the company added.
READ: New Pacific Metals announces election of two additional board directors, AGM voting results
While CEO of the company, Feng identified, financed and acquired its flagship Silver Sand Project in 2017 in Bolivia, New Pacific said in a statement.
“Under his leadership, the company made a significant discovery at the Silver Sand Project after over 100,000-metre drilling, which culminated in the inaugural Silver Sand Resource estimate on April 14, 2020,” the company said in a statement.
“With the knowledge gained from the Silver Sand project and first-mover advantage in Bolivia, he led the company to acquire the Silverstrike project and identify the Carangas project in 2019 and 2020. Recently, the first phase of drilling at Carangas has shown broad zones of silver mineralization starting at surface,” it added.
With his experience in company building and discovery, New Pacific said Feng's appointment as chair will provide direct leadership in advancing the flagship Silver Sand Project and Carangas silver discovery.
New Pacific is a Canadian exploration and development company with precious metal projects, including the flagship Silver Sand Project, the Silverstrike Project and the Carangas Project, all of which are located in Bolivia.
The company is focused on progressing the development of the Silver Sand Project while growing its mineral resources through the exploration and acquisition of properties in the Americas.
Contact the author at stephen.gunnion@proactiveinvestors.com