New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp has announced assay results from the final 53 drill holes from its 2022 resource infill and step-out drilling program completed at the Silver Sand Project.
The company said all assays from the drill program have now been received and a mineral resource estimate update is expected to be completed by October 2022, noting that Silver Sand's maiden Preliminary Economic Assessment (PEA) report is on track to be completed by the end of 2022 as planned.
The 2022 drill program of 19,323 metres (m) in 86 drill holes, together with the holes drilled in 2021, intended to expand and improve the confidence in the geological model and Mineral Resource Estimate released in April 2020 and to be used for the PEA.
READ: New Pacific Metals announces encouraging assay results for first drill hole at Silverstrike Project in Bolivia
Drilling highlights include:
- Step-out Drill hole DSS582501 intersected an interval of 44.77m grading 214 grams per tonne (g/t) silver (Ag) from 30.57m to 75.34m, and an interval of 25.04m grading 143 g/t Ag from 151.46m to 176.50m.
- Step-out Drill hole DSS542505 intersected an interval of 34.25m grading 121 g/t Ag from 33.90m to 68.15m, including 5.57m grading 428 g/t Ag from 37.85m to 43.42m.
- Step-out Drill hole DSS325001 intersected an interval of 7.64m grading 448 g/t Ag from 147.66m to 155.30m, and an interval of 19.76m grading 150 g/t Ag from 163.00m to 182.76m.
- Step-out Drill hole DSS305002 intersected an interval of 16.00m grading 315 g/t Ag from 7.83m to 23.83m.
- Step-out Drill hole DSS687502 intersected an interval of 16.66m grading 147 g/t Ag from 26.87m to 43.53m, and multiple narrow mineralized intervals at depth.
- Step-out Drill hole DSS7002 intersected an interval of 15.26m grading 285 g/t Ag from 25.28m to 40.54m, and multiple narrow mineralized intervals at depth.
- Infill Drill hole DSS542507 intersected an interval of 20.86m grading 108 g/t Ag from 9.06m to 29.92m.
- Infill Drill hole DSS545015 intersected an interval of 30.60m grading 119 g/t Ag from 94.82m to 125.42m.
- Infill Drill hole DSS5427 intersected an interval of 36.08m grading 210 g/t Ag from 131.68m to 167.76m This infill hole was drilled in the core area of Silver Sand deposit and confirmed the continuity of high-grade mineralization.
- Infill Drill hole DSS702501 intersected an interval of 54.19m grading 132 g/t Ag from 84.90m to 139.09m.
- Infill Drill hole DSS547504 intersected an interval of 95.22m grading 106 g/t Ag from 49.68m to 144.90m.
- InfillDrill hole DSS685002 intersected an interval of 31.30m grading 171 g/t Ag from 11.66m to 42.96m, including 14.71 m grading 298 g/t Ag from 26.75m to 41.46m, and multiple narrow mineralized intervals at depth.
- Infill Drill hole DSS487505 intersected an interval of 19.48m grading 337 g/t Ag from 32.45m to 51.93m, including 8.63m grading 715 g/t Ag from 38.53m to 47.16m, and multiple narrow mineralized intervals at depth.
- Infill Drill Hole DSS502506 intersected an interval of 17.11m grading 144 g/t Ag from 22.5m to 39.61m, an interval of 19.2m grading 409 g/t Ag from 60.3m to 79.5m, and an interval of 3.5m grading 224 g/t Ag from 104.5m to 108.0m.
A geotechnical drill program started in August 2022 and is expected to be completed by the end of September. This 11-hole (2,460m) program was designed and supervised by an independent specialist consulting firm for optimizing pit slope design in the PEA. Geotechnical logging is carried out on oriented drill cores at drill sites.
New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The company's flagship Project, the Silver Sand Silver Project, is waiting for a new Mineral Resource Estimate Update and a PEA by the end of 2022.
Contact the author at jon.hopkins@proactiveinvestors.com