New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp told investors that an initial 2,000 metre (m) exploration drilling program has started at its wholly-owned Jisas prospect.
Jisas is a satellite concession in the north block and sits around 3 kilometres (km) north of the company's Silver Sand project.
"As the infill and step-out drilling at the Silver Sand project for mineral resource update to be incorporated into the preliminary economic assessment (PEA) due by the end of 2022 has been concluded in mid-May, 2022, the company has now deployed one rig to carry out an initial 2,000 metre (m) exploration drilling program at the Jisas prospect," New Pacific said in a brief statement.
The Jisas prospect was host to small scale underground mining before it was bought by the company, and the silver mineralization in bleached sandstones is similar to that at Silver Sand, said the company.
READ: New Pacific Metals releases more results from Silver Sand drilling ahead of resource update
Chip samples from surface outcrops and underground workings as well as grab samples from mining dumps taken by New Pacific returned silver grades ranging from tens of grams up to 900 grams per ton (g/t), it added.
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 in Bolivia.
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