New Pacific Metals (TSX:NUAG, NYSE:NEWP) Corp has announced, together with its local Bolivian partner, assay results for 21 drill holes at its Carangas silver-gold project in Bolivia, which included a 163.04 metre (m) interval grading 109 grams per tonne (g/t) silver from 67.7m.
The exploration and development company said assay results of the 33 holes from the 2022 drill program continue to intersect a broad, near-surface silver horizon measuring about 1,000m long, 800m wide, and up to 200m thick, stacked over a broad bulk gold zone.
New Pacific noted that to date, 76 drill holes have been completed and assay results for the remaining 43 drill holes, including several deep holes targeting Carangas' gold mineralization, are pending.
READ: New Pacific Metals announces assay results at Silver Sand Project; on schedule to deliver PEA by end 2022
It added that of the 21 holes reported, 19 were drilled in the Central Valley and West Dome, all of which intersected a broad, near-surface silver horizon.
As well, the company said five rigs are drilling at the Carangas project for the planned 40,000m drill program in 2022, and the current program, which is expected to wrap up by mid-December, will constitute a drill grid of 50m by 50m to 100m by 100m and should be able to support an inaugural mineral resource estimate in 2023.
New Pacific Metals (TSX:NUAG, NYSE:NEWP) 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 Preliminary Economic Assessment (PEA) by the end of 2022.
Contact Sean at sean@proactiveinvestors.com