New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp has released encouraging new drill results from a program at the Carangas silver-gold project in Bolivia.
Together with its local Bolivian partner, New Pacific drilled 35 holes in 2021, with the final batch of 10 results revealed.
Highlights of the results include a 595.7 metre interval grading 1.25 grams per ton (g/t) gold and a 10.25 metre interval grading 1,213 g/t silver.
READ: New Pacific Metals reports working capital of US$34.7 million at end of 3Q to advance Bolivia assets
Carangas consists of two exploration concessions totaling 6.25 square kilometers, located approximately 180 km southwest of the city of Oruro, in southwest Bolivia. Nestled in a former silver mining district, the area contains broad zones of outcropping silver mineralization and historically exploited high-grade silver veins.
Additional assay results include an interval of 194.70 metres grading 33 g/t silver, including a high-grade interval of 14.43 metres grading 158 g/t silver, and 72.7 metres grading 116 g/t silver in the near-surface hydrothermal breccia horizon, including 35.73 metres grading 213 g/t silver.
2022 program
With all the assay results from the 2021 program now completed, New Pacific is now drilling up to an additional 40,000 metres as part of its 2022 campaign. Around 10,000 metres are completed so far.
New Pacific said it has attempted to drill beyond 1,000 metres depth to follow gold mineralization and has encountered thermal water at around 900 metres depth. The company is looking for a fifth rig capable of 1,500 metres depth to test potential mineralization of rhyolitic bodies.
Vancouver-based New Pacific is an 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.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas