Bolivian Property Offers Potential to Be a District Scale Silver Project

"Important development pieces have come together at the Silver Sand project in Bolivia."

Read a recent article from Streetwise Reports on New Pacific Metals →

New Pacific Metals Corp. (NUAG:TSX.V, NUPMF:OTCQX) recently announced several key developments. Two major ones were obtaining exploration permits from the Bolivian government in October of 2017 and subsequently beginning a 30,000-meter exploration drilling program. The company also completed a private placement with Pan American Silver Corp. and Silvercorp Metals Inc. to raise $26,980,000 in order to boost its financial base. Another significant event was that it ended Q2 of 2018 with working capital of $37,531,285.

Joe Reagor, an analyst for ROTH Capital Partners, commented on the developments in a Feb. 15 report, "We believe the Silver Sand project has the potential to be a district scale silver project that could attract a potential buyout in the next few years."

Going more in-depth, he added, "With funding in hand, New Pacific has embarked on a 30,000 meter drill program, which we believe could be expanded to 50,000 meters by the end of 2018 depending on the company's initial success. The company stated in January that it planned to receive initial drill results by the end of February 2018, but given recent delays in assay results at a number of mining companies, we anticipate drill results will be released by the end of March 2018."

Reagor also went into some details about Silver Sand's potential value, "We are initiating coverage of New Pacific Metals with a Buy rating and CAD$3.00 price target. We note NUAG is at an earlier stage than the other mining companies we cover, but believe the company's Silver Sand asset is too unique to ignore until further information becomes available. Our use of a CAD $3.00 price target is based on the expectation that the company spends over CAD $25 million advancing the asset through drilling over the next two years, which we believe could outline an initial resource north of 200 million ounces of silver."

Commenting on the extent of the project so far he said, "Given the early-stage nature of the Silver Sand project, we conducted a site visit in December 2017. We came away impressed with the scale and high-grade nature of the Silver Sand project."
The Silver Sand Project in Bolivia is New Pacific Metals' most important property. It became part of the company's portfolio when it acquired the previous owner, Alcira, in July 2017. Silver Sand is located near Potosi, Bolivia, at about 4,000 meters above sea level.