NEW PACIFIC ANNOUNCES STOCK OPTION GRANTS

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VANCOUVER, British Columbia - February 22, 2019 - New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) has granted an aggregate of 1,955,000 incentive stock options to certain directors, officers, employees, and consultants of the Company in accordance with the Company’s stock option plan today.

The options are exercisable at a price of $2.15 per share, being the closing price of the shares on the TSX Venture Exchange on February 21, 2019, for a period of five years from the date of grant.  The options will vest in equal six-month instalments over 36 months and are subject to the approval of the TSX Venture Exchange.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.  Its largest shareholders are Silvercorp Metals Inc., and Pan American Silver Corp., one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of Bolivia.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE AND SIX MONTHS ENDED DECEMBER 31, 2018

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VANCOUVER, BRITISH COLUMBIA – February 21, 2019: New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX-V:NUAG) (OTCQX:NUPMF) today announced its unaudited condensed consolidated interim financial results for the three and six months ended December 31, 2018. 

This news release should be read in conjunction with the Company's management discussion & analysis, financial statements and notes to financial statements for the corresponding period, which have been posted under the Company’s profile on SEDAR at www.sedar.com and are also available on the Company's website at www.newpacificmetals.com.  All figures are expressed in Canadian dollars unless otherwise stated.


FINANCIALS

Net income attributable to equity holders of the Company for the three months ended December 31, 2018 was $473,838 or $0.00 per share (three months ended December 31, 2017 - net loss of $1,096,699 or $0.01 per share).  The Company’s financial results were mainly impacted by the following: (i) income from investments of $65,926 compared to income of $68,533 in the prior year quarter, (ii) operating expenses of $592,796 compared to $1,162,214 in the prior year quarter, and (iii) foreign exchange gain of $1,065,279 compared to gain of $59,635 in the prior year quarter.

For six months ended December 31, 2018, net loss attributable to equity holders of the Company was $278,745 or $0.00 per share compared to net loss of $2,647,798 or $0.02 per share for six months ended December 31, 2017.  

Income from investments for the three months ended December 31, 2018 was $65,926 (three months ended December 31, 2017 – income of $68,533).  Within the income from investments, $150,525 was gain on the Company’s equity investments and $125,677 was loss from fair value change on bonds offset by interest earned.

For the six months ended December 31, 2018, income from investments was $183,123 compared to loss of $508,411 for the six months ended December 31, 2017.

Operating expenses for the three and six months ended December 31, 2018 were $592,796 and $1,006,872, respectively (three and six months ended December 31, 2017 - $1,162,214 and $2,246,608, respectively).  

Foreign exchange gain for the three months ended December 31, 2018 was $1,065,279 (three months ended December 31, 2017 - $59,635).  The Company holds a large portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is Canadian dollar.  The fluctuation in exchange rates between the US dollar and the Canadian dollar will impact the financial results of the Company.  During the three months ended December 31, 2018, the US dollar appreciated by 5.4% against the Canadian dollar (from 1.2945 to 1.3642) while in the prior year period the US dollar appreciated by 0.5% against the Canadian dollar (from 1.2480 to 1.2545).

For the six months ended December 31, 2108, foreign exchange gain was $720,437 (six months ended December 31, 2017 – foreign exchange loss of $409,669).

 

SILVER SAND PROPERTY

The Company started the preparation work for the planned exploration program after the acquisition of the Silver Sand Property.  In October 2017, the Company successfully received exploration permits required by the relevant Bolivian government authorities and immediately commenced its exploration drilling program on the property.  By mid-December 2018, a total of 55,010 metres in 195 HQ size diamond core drill holes had been completed.  On January 22 and February 20, 2019, through two separate news releases, the Company released the results of 195 drill holes that had assay results received and analyzed, of which 190 holes intercepted silver mineralization.  For details of the drill program, please follow the links at https://newpacificmetals.com/news-and-media/2019/1/22/new-pacific-reports-first-results-from-2018-drill-program-at-silver-sand-bolivia and https://newpacificmetals.com/news-and-media/2019/2/20/new-pacific-reports-remaining-drill-results-from-2018-drill-program-at-silver-sand-bolivia.  For the three and six months ended December 31, 2018, total expenditures of $3,413,976 and $6,593,939, respectively (three and six months ended December 31, 2017 - $966,651 and $1,354,399, respectively) were capitalized under the property.  These expenditures were mainly related to the drilling program, site and camp preparation, maintaining a regional office in La Paz, and building a competent management team and workforce for the property. 

As part of the Silver Sand Property’s expansion plan, on January 11, 2019, the Company announced that through its wholly-owned subsidiary, Empresa Minera Alcira S.A., it had entered into a Mining Production Contract (the ”MPC”) with Corporación Minera de Bolivia (“COMIBOL”) granting the Company the right to carry out exploration, mining, and production activities in the area of up to 56.9098 square kilometres adjoining the Silver Sand Property.  In addition, in July 2018, the Company entered into agreements with private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver Sand Property.  For the six months ended December 31, 2018, the Company acquired total mineral concessions valued at $2,631,200 (US$2,000,000) by cash payments of $1,315,600 (US$1,000,000) and issuance of 832,000 of its common shares.

 

ABOUT NEW PACIFIC

New Pacific Metals Corp. is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia, the Tagish Lake Gold Project in Yukon, Canada and the RZY Project in Qinghai Province, China. 

 

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian provincial securities laws.  Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information.  Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2018 under the heading “Risk Factors”.  Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended.  Accordingly, readers should not place undue reliance on forward-looking statements or information. 

 The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.  For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.

NEW PACIFIC REPORTS REMAINING DRILL RESULTS FROM 2018 DRILL PROGRAM AT SILVER SAND, BOLIVIA

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Near Surface Silver Mineralization Intercepted in 190 out of total 195 holes;
Numerous Significant Intercepts include 99.91 metres grading 244 g/t Ag

VANCOUVER, British Columbia – February 20, 2019 -- New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (“New Pacific” or the “Company”) is pleased to announce the second batch of drill results from its wholly-owned Silver Sand Project in Potosí Department, Bolivia.

As announced previously on the Company’s news release dated January 22, 2019, the drilling program commenced in mid-October 2017.  A total of 55,010 metres in 195 HQ size diamond core drill holes had been completed by mid-December 2018.  The drill program covers an area of approximately 1,600 m long in the north-south direction and up to 800 m wide in the east-west direction.  The holes were drilled along northeast 60 degree oriented sections with a 50 m spacing between the sections.  Most drill holes are drilled at a dip angle of 45 degrees to penetrate the principal trend of the mineralized structure zones with an average hole length of approximately 285 m.  The results for the first batch of 98 drill holes were released on January 22, 2019.  This news release discloses the assay results of the remaining 97 holes, of which 96 holes intercepted silver mineralization.  These 97 holes were drilled mainly to the north of the section 60 covering an area of approximately 1,100 m long north-south and 800 m wide in the east-west direction.

Highlights of significant drill intersections are summarized as follows (for a detailed list, please refer to Table-1 – Composited Drill Intersections of Mineralization below):

·         Drill hole DSS505003, 225.82m @ 116g/t Ag from 59.85m to 285.67m,

incl. 99.91m @ 244g/t Ag from 185.76m to 285.67m;

·         Drill hole DSS5203, 6.41m @ 290g/t Ag from 21.09m to 27.5m, and

      192.93m @ 123g/t Ag from 100.77m to 293.7m,

incl. 17.43m @ 329g/t Ag from 100.77m to 118.2m, and

incl. 74.06m @ 191g/t Ag from 219.64m to 293.7m;

·         Drill hole DSS505004, 95.2m @ 162g/t Ag from 73.5m to 168.7m,

incl. 16.7m @ 703g/t Ag from 117.7m to 134.4m, and

incl. 7.30m @ 291g/t Ag from 161.4m to 168.7m;

·         Drill hole DSS4402, 144.85m @ 86g/t Ag from 69.85m to 214.7m,

incl. 48.5m @ 211g/t Ag from 129.5m to 178.0m

·         Drill hole DSS5604, 79.48m @ 135g/t Ag from 39.92m to 119.4m,

incl. 22.73m @ 330g/t Ag from 39.92m to 62.65m;

·         Drill hole DSS425001, 118.46m @ 88g/t Ag from 63.18m to 181.64m,

incl. 15.14m @ 244g/t Ag from 63.18m to 78.32m, and

incl. 17.27m @ 333g/t Ag from 85.88m to 101.15m;

·         Drill hole DSS4204, 68.4m @ 148g/t Ag from 86.6m to 155.0m;

·         Drill hole DSS425002, 35.86m @ 277g/t Ag from 97.23m to 133.09m;

·         Drill hole DSS5204, 12.56m @ 119g/t Ag from 62.5m to 75.06m, and

      12.7m @ 261g/t Ag from 110.71m to 123.41m, and

      39.62m @ 116g/t Ag from 180.73m to 220.35m;

·         Drill hole DSS5411, 192.5m @ 50g/t Ag from 4.5m to 197.0,

incl. 1.25m @ 1865g/t Ag from 18.75m to 20.0m;

·         Drill hole DSS565003, 63.27m @ 141g/t Ag from 21.95m to 85.22m;

·         Drill hole DSS5408, 114.64m @ 76g/t Ag from 18.36m to 133.0m,

incl. 2.0m @ 2099g/t Ag from 131.0m to 133.0m;

·         Drill hole DSS4609, 83.92m @ 103g/t Ag from 63.38m to 147.3m,

incl. 10.4m @ 398g/t Ag from 84.3m to 94.7m, and

incl. 8.9m @ 414g/t Ag from 138.4m to 147.3m;

·         Drill hole DSS5201, 123.7m @ 64g/t Ag from 79.6m to 203.3m,

incl. 26.85m @ 135g/t Ag from 85.15m to 112.0m, and

incl. 7.65m @ 201g/t Ag from 124.7m to 132.35m;

·         Drill hole DSS505001, 124.02m @ 63g/t Ag from 60.9m to 184.92m,

incl. 32.65m @ 116g/t Ag from 60.9m to 93.55m;

·         Drill hole DSS445001, 99.61m @ 75g/t Ag from 95.82m to 195.43m

incl. 10.41m @ 199g/t Ag from 151.46m to 161.87m, and

incl. 2.0m @ 1930g/t Ag from 193.43m to 195.43m;

·         Drill hole DSS5807, 48.63m @ 148g/t Ag from 7.0m to 55.63m;

·         Drill hole DSS545003, 84.06m @ 80g/t Ag from 37.24m to 121.3m,

incl. 17.15m @ 172g/t Ag from 37.24m to 54.39m, and

incl. 18.7m @ 174g/t Ag from 102.6m to 121.3m;

·         Drill hole DSS485004, 116.15m @ 53g/t Ag from 54.43m to 170.58m,

incl. 23.57m @ 152g/t Ag from 54.43m to 78.0m, and

·         Drill hole DSS5210, 143.74m @ 39g/t Ag from 70.84m to 214.58m,

incl. 3.69m @ 1190g/t Ag from 70.84m to 74.53m;

·         Drill hole DSS405002, 47.24m @ 117g/t Ag from 99.22m to 146.46m

·         Drill hole DSS5006, 140.51m @ 39g/t Ag from 23.18m to 163.69m,

incl. 4.07m @ 343g/t Ag from 89.38m to 93.45m;

·         Drill hole DSS545002, 68.67m @ 79g/t Ag from 13.1m to 81.77m;

·         Drill hole DSS5207, 93.02m @ 55g/t Ag from 56.19m to 147.78m,

incl. 6.0m @ 266g/t Ag from 129.88m to 135.88m, and

incl. 4.93m @ 256g/t Ag from 142.85m to 147.78m;

·         Drill hole DSS505005, 33.47m @ 141g/t Ag from 31.83m to 65.3m;

·         Drill hole DSS465001, 36.38m @ 117g/t Ag from 70.39m to 106.77m,

incl. 17.36m @ 212g/t Ag from 70.39m 87.75m;

·         Drill hole DSS5001, 15.16m @ 152g/t Ag from 104.4m to 119.56m, and

       16.2m @ 119g/t Ag from 196.1m to 197.23m;

·         Drill hole DSS5002, 13.65m @ 308g/t Ag from 262.1m to 275.75m;

·         Drill hole DSS5208, 48.25m @ 87g/t Ag from 64.5m to 112.75m,

incl. 28.0m @ 110g/t Ag from 64.5m to 92.5m;

·         Drill hole DSS425003, 35.2m @ 118g/t Ag from 200.7m to 235.9m;

·         Drill hole DSS465005, 59.75m @ 69g/t Ag from 64.25m to 124.0m,

incl. 24.15m @ 154g/t Ag from 99.85m to 124.0m;

·         Drill hole DSS505008, 35.15m @ 117g/t Ag from 90.0m to 125.15;

·         Drill hole DSS5608, 9.31m @ 423g/t Ag from 76.0m to 85.31m;

·         Drill hole DSS5007, 53.35m @ 66g/t Ag from 89.39m to 142.74m, and

     25.1m @ 261g/t Ag from 273.7m to 298.9m;

·         Drill hole DSS5402, 63.6m @ 49g/t Ag from 141.4m to 205.5m,

(True width of mineralization zones is estimated at about 80% of drill intervals based on current understanding of the relationship between drill direction and the mineralized structures.  Please refer to Table-1 – Composited Drill Intersections of Mineralization below for details.)

Based on the drilling results, the drill holes usually penetrate first through a few metres up to more than 70 m thick layer of reddish siltstone and mudstone units of Cretaceous Tarapaya Formation, then into massive altered white colour arenites or sandstones units of the Cretaceous La Puerta Formation where silver mineralization is hosted.   At the contact of these two units, massive or densely disseminated pyrite mineralization of a few metres wide in thickness typically occurs.  Tin mineralization in the district is often associated with massive pyrite, locally called “Bolivia manto type of tin mineralization”.   At depth, many drill holes end at the unaltered reddish sandstone units of the Cretaceous La Puerta Formation.  The Cretaceous Formations sit unconformably on a basement of tightly folded and faulted Paleozoic marine clastic sediments.

The mineralized sandstone and siltstone units of the Cretaceous Formations are shallow dipping or sub-horizontal and gently folded into open synclines and anticlines with their hinges shallowly plunging to North-North-West (“NNW”) direction.   To the north of Silver Sand Project, numerous porphyrytic dacitic sills and dykes of Miocene age intrude and cut the Cretaceous sediments which are believed to be closely associated with silver mineralization in the district.

Silver mineralization is observed to be associated with fractures as sheeted veins, stockwork veinlets, crackle veins and breccia zones of sulfosalts and sulfides containing silver (Figure-1) in altered sandstones units which were bleached white due to sericite alteration of original reddish sandstones resulting in a sub-horizontal mineralized zone of up to more than 200 m in thickness beneath the Tarapaya red siltstone and mudstone (Figure-2).  The most common silver-containing sulfosalt is freibergite associated with small amounts of miargyrite, polybasite, bournonite, boulangerite, andorite and bismuthinite.

The mineralized fractures generally extend NNW sub-vertically and slightly dipping west.   The mineralized bodies within the Silver Sand Project were detected by drilling within an area of up to 1,600 m long in north-south direction and 800 m wide in east-west direction within the property limit and remain open to both the north and the west.   Mineralized bodies were oxidized to various extents to depth and could extend from near surface to a depth of up to more than 250 m. 

2019 Drilling Program

Assay results of surface sampling of hundreds of artisanal mining dumps and continuous chip-sampling from artisanal underground mining tunnels reveal the silver mineralized fracture zones could extend at least by 3,000 m to the north and 500 m to the west and the east, as well as extending up to 1,000 m to the south of the areas drilled in 2018.  These newly identified extensions of the mineralized fracture zones will be the targets of the continuing drilling program in 2019 once the rainy season ends by the end of March.

In addition, the Company is currently applying for permits to drill the areas covered under the Mining Production Contract (“MPC”) executed with COMIBOL in January 2019.  The drilling program for the MPC areas will commence once the drilling permits are granted by local authorities in two to three months.

Quality Assurance and Quality Control

HQ size drill core samples from altered and mineralized intervals were split into halves by diamond saw cutting with an average sample interval of one to one and half metres long at the Company’s core processing facility located in Betanzos, a local town 20 km away from the project site.  Half core samples are stored in secured core storages for future reference and the other half core samples are shipped in security sealed bags to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis with the code of OG46 for elements of silver, lead and zinc.  Silver overlimits further go to gravimetric analysis with the code of GRA21.

A standard quality assurance and quality control (“QAQC”) protocol is employed to monitor the quality of sample preparation and analysis.  Standards of certified reference materials, blanks and duplicates are inserted in normal core sample sequences prior to shipment to lab at a ratio of 20:1 (i.e., every 20 samples contain at least one standard sample, one blank sample, and one duplicate sample).  The assay results of QAQC samples did not show any significant bias of analysis or contamination during sample preparation.

Technical information contained in this news release with respect to New Pacific has been reviewed and approved by Alex Zhang, P.Geo., Vice President of Exploration, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí, Bolivia.  The Company is actively carrying out drilling activities at the Silver Sand Project and is looking for acquisition opportunities in Bolivia.  The Company’s non-active assets include the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.  The Company’s largest shareholders are Silvercorp Metals Inc. (TSX/NYSE American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS), one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in Potosí, Bolivia.  Pan American Silver Corp. became a shareholder of the Company in 2017.

For further information, contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2018 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

This news release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. Securities laws.  NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

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Figure-1

Figure-1

Figure-2

Figure-2

NEW PACIFIC REPORTS HIGH RECOVERY OF SILVER ACHIEVED FOR SULPHIDES AND TRANSITIONAL MINERALIZED MATERIALS FROM SILVER SAND, BOLIVIA

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VANCOUVER, British Columbia – February 7, 2019 – New Pacific Metals Corp. (TSX-V:NUAG) (OTCQX:NUPMF) (the “Company”) is pleased to announce the preliminary results of the  first metallurgical test work for its Silver Sand project in Potosi, Bolivia.  Metallurgical sampling and test work commenced in September 2018 – the flotation recovery and bottle roll leaching test works for the transition and sulphide mineralized materials have been completed and test work on the oxides is under way.  All tests, including column leaching test works, are expected to be completed by the end of April 2019.  Positive recovery results have been achieved in the extraction of silver by the processes of flotation and direct cyanidation from the initial metallurgical test work.  

Highlights of the Preliminary Results of Completed Test Works

· Sulphide materials have reported 96.0% silver recovery by rougher-scavenger flotation and the high silver extraction of 96.7% when leached in a bottle-roll with cyanide solution.

· Transition materials achieved 86.8% recovery of silver by flotation and the high extraction of 97.0% by cyanidation in bottle roll test.

· Test results indicate that the sulphide and transition type mineralized materials are non-refractory as per the high silver recoveries achieved during the direct cyanidation at atmospheric pressure.

· The mineralized materials were measured to be mostly in the soft to-medium competent level and abrasion from low-to medium values.  Consequently, a lower capital expenditure and operating cost would be required for the comminution circuit.

 

Programs of Metallurgical Tests

Half drilled core samples of oxides, transition and sulphides, representing naturally heterogeneous distribution of oxidation degree, silver grades and lithology of the mineralized materials at the Silver Sand minerals deposit, were collected to produce different composite samples.  Four geo-metallurgical test work programs (Mineral Characterization, Comminution, Flotation and Leaching) were developed on these samples.  Six metallurgical domains (MET1 to MET6) were identified for the flotation and leaching test work and also six geological domains (GEO1 to GEO6) were branded for the comminution test work.  This study methodology has allowed creating ore-specific test works that are producing high silver recovery results at this first stage of the metallurgical program.

Flotation

The test works of flotation were completed by SGS del Peru.  Half drilled-core samples were collected to produce three-master composite samples: oxides, transition and sulphides.  The flotation program was composed of rougher-scavenger tests at different sizes, a mixture of collectors, collector amount and pH.  Collectors from the chemical family of Xanthates, Hydroxamates and Dithiophosphates were tested.  They were: PAX (potassium amyl xanthate), SIPX (sodium isopropyl xanthate), DANA468, and OX100.

 Eighteen rougher-scavenger flotation tests for the transition (FLOATMET 5 composite) and sulphide (FLOATMET 6 composite) types have been completed.  Some of the results are presented in Table 1.  Figure 1 shows the flotation cells when transition and sulphide types were processing.  Table 1 presents silver and sulphide recoveries after floating for 20 minutes the sulphide and transition materials at specific process conditions.  The flotation for the oxide materials is under way.

Figure1.jpg

The best silver recoveries to the rougher-scavenger concentrate were achieved using PAX as the main collector for both sulphide and transition materials.  The silver recovery of 96% was the best result for sulphides materials and 86.8% was for the transition materials.  Results so far suggest the use OX100 as a secondary collector to improve silver extraction from transition materials.  Similar recoveries were obtained at natural pH and the higher pH of 9.  Though the flotation results are promising, they can be optimized at the second stage of the metallurgical test work program.

Table1.jpg

It is worth mentioning that similar silver recoveries were obtained for the sulphide materials at the particle size of P80 105µm and 74µm; being 92.8% at the biggest material size and 93.8% at 74µm for the flotation of 12 minutes long.  These results suggest that the silver minerals seem to be already liberated at the size of 105µm which would give the opportunity to use a smaller comminution circuit.

 

Bottle Roll Leaching

Four master composite samples were prepared from half drilled cores for the execution of leaching tests with sodium cyanide solution (NaCN) of which one composite sample comprises cores of sulphide materials (LEACHMET 6), the other is made of transition materials (LEACHMET 5) and two composites were composed of oxide materials (LEACHMET 1 and LEACHMET 4).

Direct cyanidation leaching in bottle-roll under conventional and intense conditions has been completed for the sulphide and transition materials.  Nineteen tests were carried out considering different materials sizes, cyanide solution strength, air or oxygen sparging and different temperatures.  Each bottle roll test was conducted at atmospheric pressure during 72 hours.  Some of these leach test results are presented in Table 2.

Bottle roll leaching of oxides is underway at SGS del Peru.

Table2.jpg

High silver extractions of up to 97% were achieved for sulphide and transition materials by intense cyanidation in bottle-rolls using oxygen at 56 – 57oC, as shown in Table 2.  None of the samples were pre-treated before the cyanidation; which is an indication of the liberation of the silver grains at the tested materails size and/or low-amount encapsulation in pyrite. Therefore, it can be claimed that the mineralized materials at Silver Sand are non-refractory. The texture and liberation will be confirmed with the QEMSCAN assays that are under way. These leaching results are very encouraging and they could be further improved in the next stage of the metallurgical program.

 

Column Leaching

The test works of column leaching are in progress at SGS del Peru and are expected to be completed by the end of April 2019.

Comminution

The test works of comminution were completed by SGS del Peru.  Four geological domains were tested for Crushing Work Index (CWi), Ball Work Index (BWi) and Abrassion Index (Ai). These domains represent the different rock lithology, type and intensity of alteration and material type that exist at the current drilled area of the Silver Sand deposit.

Twenty-one samples were tested.  CWi reported the energy consumption between 4.8 and 11.3kWh/t and the BWi measurements were from 4.8 to 15.9kWh/t, with only one sample above 14 KW/t.  Thus, the majority of the samples fell in the category of soft and medium competency level for crushing and grinding.  Consequently, a relatively low capital expenditure and operating cost could be expected for the comminution circuit.  The Ai reported values between 0.0595 and 0.5363.  Oxides and transition materials produced values below 0.3, which corresponds to low abrasion.  Sulphide materials reported the highest values in the range of medium abrasion behaviour.

 

Mineral Characterization

The test works of mineral characterization are being executed by the Research Centre for Mining and Metallurgy (CIMM) and Oruro Technical University (UTO), Bolivia.  The mineral characterization and Sink & Float tests are to assess the mineral response to gravity separation.  The tests are expected to be complete by the end of February 2019.

The Company is very pleased with the positive results achieved so far from the completed test works.  The results suggest that the mineralized materials from Silver Sand project could be amenable for extraction of silver by conventional flotation or direct-intense cyanidation at atmospheric pressure at large scale.  This is just the first stage of the metallurgical test work program and silver extraction rates can still be improved by further tuning the parameters of test works.

Technical information contained in this news release and the test programs have been designed and prepared by Mr. Alberto Galvez, an independent consulting metallurgist and a registered member of the Australasian Institute of Mining and Metallurgy (AusIMM) and reviewed and approved by Alex Zhang, P.Geo., Vice President of Exploration of the Company, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.  Its largest shareholders are Silvercorp Metals Inc. and Pan American Silver Corp., one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of Bolivia.

For further information, contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2018 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. 

The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

This news release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. Securities laws.  NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

NEW PACIFIC ANNOUNCES THE APPOINTMENT OF DR. PETER MEGAW AS A TECHNICAL ADVISOR TO THE COMPANY

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VANCOUVER, British Columbia – February 4, 2019 – New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the appointment of Dr. Peter Megaw, Ph.D., C.P.G., as a technical advisor to the Company with the primary objective of providing strategic and technical advice to senior management.

Dr. Megaw has a Ph.D. in geology from the University of Arizona and more than 35 years of relevant experience focused on silver and gold exploration.  He has been instrumental in a number of mineral discoveries including MAG Silver's Juanicipio and Cinco de Mayo Properties,  Excellon Resources' Platosa Mine, and new ore bodies at existing mines.  He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences.  Dr. Megaw was also awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, Mexico.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.  Its largest shareholders are Silvercorp Metals Inc., and Pan American Silver Corp., one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of Bolivia.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal, President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NEW PACIFIC REPORTS FIRST RESULTS FROM 2018 DRILL PROGRAM AT SILVER SAND, BOLIVIA

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Near Surface Silver Mineralization Intercepted in 94 out of 98 holes;
Numerous Significant Intercepts include 76.63 metres grading 383 g/t

VANCOUVER, British Columbia – January 22, 2019
-- New Pacific Metals Corp. (TSX-V: NUAG) (OTCQX: NUPMF) (“New Pacific” or the “Company”) is pleased to announce the first batch of drill results from its wholly-owned Silver Sand Project in Potosí Department, Bolivia.

The drilling program commenced in mid-October 2017.  A total of 55,010 metres in 195 HQ size diamond core drill holes had been completed by mid-December 2018.  The drill program covers an area of approximately 1,600 m long in the north-south direction and up to 800 m wide in the east-west direction.  The holes were drilled along northeast 60 degree oriented sections with a 50 m spacing between the sections.  Most drill holes are drilled at dip angle of 45 degrees to penetrate the principal trend of the mineralized structure zones with an average hole length of approximately 285 m.  To date, assay results of drill core samples of 98 holes have been received and analyzed, of which 94 holes intercepted silver mineralization.

Highlights of significant drill intersections are summarized as follows (for a detailed list, please refer to Table-1 – Composited Drill Intersections of Mineralization below):

·         Drill hole DSS525001, 135.72m @ 240 g/t Ag from 50.8m to 186.52m,

incl. 76.63m @ 383g/t Ag from 50.8m to 127.43m, and

incl. 7.64m @ 406g/t Ag from 178.88m to 186.52m;

·         Drill hole DSS525002, 273.94m @ 84g/t Ag from 0.92m to 274.86m,

incl. 13.44m @ 205g/t Ag from 86.3m to 99.74m, and

incl. 56.3m @ 216g/t Ag from 148.5m to 204.8m;

·         Drill hole DSS5803, 172m @ 110g/t Ag from 18.0m to 190.0m,

incl. 83.5m @ 192g/t Ag from 18.0m to 101.5m;

·         Drill hole DSS525009, 178.99m @ 96g/t Ag from 59.9m to 238.89m,

incl. 18.03m @ 362g/t Ag from 126.49m to 144.52m;

·         Drill hole DSS525010, 106.4m @ 154g/t Ag from 12.0m to 118.4m,

incl. 38.75m @ 165g/t Ag from 12.0m to 50.75m, and

incl. 4.03m @ 2,366g/t Ag from 92.43m to 96.46m;

·         Drill hole DSS5407, 76.03m @ 205g/t Ag from 64.07m to 140.10m,

incl. 60.89m @ 251g/t Ag from 64.07m to 124.96m;

·         Drill hole DSS665001, 89.77m @ 115g/t Ag from 44.23m to 134.1m,

incl. 4.45m @ 394g/t Ag from 44.23m to 48.68m,

incl. 37.15m @ 149g/t Ag from 58.0m to 95.15m, and

3.52m @ 430g/t Ag from 213.82m to 217.34m;

·         Drill hole DSS6603A, 65.25m @ 181g/t Ag from 7.9m to 73.15m,

incl. 32.0m @ 304g/t Ag from 7.9m to 39.9m;

·         Drill hole DSS6402, 157.68m @ 66g/t Ag from 18.1m to 175.78m,

incl. 26.16m @ 252g/t Ag from 74.22m to 100.38m;

·         Drill hole DSS645001, 85.54m @ 119g/t Ag from 27.46m to 113.0m,

incl. 26.04m @ 189g/t Ag from 27.46m to 53.5m, and

incl. 31.16m @ 156g/t Ag from 81.84m to 113.0m;

·         Drill hole DSS5806, 146.69m @ 63g/t Ag from 13.96m to 160.65m,

incl. 9.34m @ 208g/t Ag from 13.96m to 23.3m;

·         Drill hole DSS5404, 106.5m @ 86g/t Ag from 87.0m to 193.5m,

incl. 28.5m @ 220g/t Ag from 87.0m to 115.5m;

·         Drill hole DSS525003, 102m @ 82g/t Ag from 47.3m to 149.3m,

incl. 13.36m @ 475g/t Ag from 100.5m to 113.86m;

·         Drill hole DSS645002, 173.34m @ 48g/t Ag from 23.21m to 196.55m,

incl. 54.49m @ 111g/t Ag from 23.21m to 77.7m;

·         Drill hole DSS6608, 188.79m @ 43g/t Ag from 58.7m to 247.49m;

·         Drill hole DSS6201, 69.67m @ 116g/t Ag from 119.93m to 189.6m;

·         Drill hole DSS6403, 191.35m @ 42g/t Ag from 82.15m to 273.5m;

·         Drill hole DSS525005, 102.65m @ 66g/t Ag from 28.35m to 131.0m,

incl. 5.2m @ 342g/t Ag from 93.92m to 99.12m;

·         Drill hole DSS4603, 159.71m @ 41 g/t Ag from 41.59m to 201.3m,

incl. 6.23m @ 223g/t Ag from 97.77m to 104.0m, and

incl. 2.0m @ 522g/t Ag from 174.62m to 176.62m;

·         Drill hole DSS4804, 23.1m @ 138g/t Ag from 123.9m to 147.0m,

incl. 1.06m @ 1,070g/t Ag from 145.94m to 147.0m, and

20.0m @ 164g/t Ag, 3.62% Pb from 249.5m to 269.5m;

·         Drill hole DSS525004, 79.16m @ 78g/t Ag from 45.92m to 125.08m,

incl. 22.32m @ 118g/t Ag from 73.54m to 95.86m;

·         Drill hole DSS5601, 62.87m @ 96g/t Ag from 85.43m to153.0m,

·         Drill hole DSS545001, 62.6m @ 95g/t Ag from 63.83m to 126.43m,

incl. 14.71m @ 212g/t Ag from 97.16m to 111.87m;

·         Drill hole DSS4802,  21.09m @ 269g/t Ag from 92.45m to 113.54m,

incl. 2.33m @ 1,099g/t Ag from 92.45m to 94.78m;

·         Drill hole DSS6607, 122.72m @ 46g/t Ag from 28.4m to 151.12m, and

incl. 1.0m @ 2,530g/t Ag, 1.19% Pb, 1.05% Zn from 204.52m to 205.52m;

·         Drill hole DSS4604, 5.06m @ 1,104g/t Ag from 107.07m to 112.13m;

·         Drill hole DSS5003, 65.99m @ 83g/t Ag from 62.46m to 128.45m,

incl. 19.81m @ 175g/t Ag from 108.64m to 128.45m;

·         Drill hole DSS6202, 64.26m @ 84g/t Ag from 306.14m to 370.4m,

incl. 17.43m @ 183g/t Ag from 323.57m to 341.0m;

·         Drill hole DSS665003, 81.68m @ 65g/t Ag from 71.6m to 153.28m,

incl. 6.84m @ 229g/t Ag from 93.76m to 100.6m;

·         Drill hole DSS6401, 84.79m @ 58g/t Ag from 12.32m to 97.11m,

·         Drill hole DSS5202, 59.6m @ 82g/t Ag from 4.2m to 63.8m,

incl. 4.3m @ 311g/t Ag from 4.2m to 8.5m;

·         Drill hole DSS525008, 63.1 m @ 75g/t Ag from 1.7m to 64.8m,

incl. 6.7m @ 213g/t Ag from 49.7m to 56.4m;

·         Drill hole DSS7001, 60.32m @ 76g/t Ag from 70.03m to 130.35m,

incl. 32.77m @ 113g/t Ag from 90.36m to 123.13m;

·         Drill hole DSS6603, 15.93m @ 265g/t Ag from 7.17m to 23.1m (hole failed in mineralization);

·         Drill hole DSS6802, 69.06m @ 50g/t Ag from 86.17m to 156.3m,

incl. 7.64m @ 164g/t Ag from 86.17m to 93.81m;

·         Drill hole DSS525013, 25.13m @ 136g/t Ag from 39.57m to 64.7m;

·         Drill hole DSS525011, 54.3m @ 60g/t Ag from 144.0m to 198.3m,

incl. 3.5m @ 433g/t Ag from 169.6m to 173.1m;

·         Drill hole DSS6604, 56.79m @ 56g/t Ag from 0.0m to 56.79m,

incl. 25.22m @ 113g/t Ag from 31.57m to 56.79m; and

incl. 3.0m @ 779g/t Ag from 50.0m to 53.0m;

·         Drill hole DSS6801, 75.4m @ 42g/t Ag from 55.5m to 130.9m,

incl. 10.0m @ 130g/t Ag from 55.5m to 65.5m.

(True width of the mineralization is unknown, but based on the current understanding of the relationship between drill direction and the mineralized structures it is estimated that true width will approximate 80% of the down hole interval length.  Please refer to Table-1 – Composited Drill Intersections of Mineralization below for details.)

Based on the drilling results, the drill holes usually penetrate first through an up to 50 m thick layer of reddish siltstone and mudstone units of Cretaceous Tarapaya Formation, then into massive altered white colour arenites or sandstones units of the Cretaceous La Puerta Formation, where silver mineralization occurs.  At the contact of these two units, massive pyrite mineralization of less than two metres in thickness, typically occurs.  Tin mineralization in the district is often associated with massive pyrite.  At depth, many drill holes end at the reddish sandstones units of the Cretaceous La Puerta Formation.  This Cretaceous Formations sit unconformably on a basement of tightly folded and faulted Paleozoic marine clastic sediments.

The mineralized sandstone and siltstone units of the Cretaceous Formations are shallow dipping or sub-horizontal, and gently folded into open synclines and anticlines with their hinges shallowly plunging to North-North-West (“NNW”) direction.  To the north of Silver Sand, the Cretaceous sediments were intruded and cut by numerous porphyrytic dacitic sills and dykes of Miocene age, which are believed to be closely associated with silver mineralization in the district.

Silver mineralization is observed to be associated with fractures and alterations in the sandstones units, which were bleached white due to sericite alteration of original reddish sandstones, resulting in a sub-horizontal mineralizing zone of up to more than two hundred metres in thickness beneath the Tarapaya red siltstone and mudstone.  The mineralized fractures generally extend NNW, sub-vertically and slightly dipping west.  The mineralized bodies were detected by drilling within an area of up to 1,600 m long in north-south direction and 800 m wide in east-west direction within the Silver Sand property limit and remain open to both the north and the west.  Mineralizing bodies were oxidized to various extents to depth.

Silver mineralization is characterized by sheeted veins, stockwork veinlets, crackle veins and breccia zones of sulfosalts and sulfides containing silver in altered sandstones.  The most common silver-containing sulfosalt is freibergite, associated with a small amount of miargyrite, polybasite, bournonite, boulangerite, andorite and bismuthinite.

Using the section 60 as a dividing line, to its south, Tarapaya red siltstones and mudstones were mostly eroded away and massive whitish altered and fractured sandstones of the La Puerta Formation exposed at surface.  Extensive mining remains of adits, drifts and stopes of colonial times exist at the steep slopes and cliffs that have more than 150 m relief with the workings extending into the mountain.  Drilling in this area has hit many of these ancient underground workings.  Silver mineralization to the south of section 60 was outlined by drilling an area of approximately 500 m long and 150 m wide the altered quartz sandstones of the La Puerta Formation, extending from surface to a depth of more than 300 m.

To the north of section 60, drilling covered an area of approximately 1,100 m long north-south and 800 m wide in the east-west direction.  Drilling in this area intercepted mineralized fracture zones right beneath the Tarapaya reddish siltstones and mudstones.  The mineralization could extend from near surface to a depth up to more than 250 m.  In comparison to the south of section 60, only a few ancient underground mining workings were encountered during drilling.  Mineralization remains open along strike and at depth in both the southern area and the northern area.

Quality Assurance and Quality Control

HQ size drill core samples from altered and mineralized intervals were split into halves by diamond saw cutting with an average sample interval of one to one and half metres long at the Company’s core processing facility located in Betanzos, a local town 20 kilometres away from the project site.  Half core samples are stored in secured core storages for future reference, and the other half core samples were shipped in security sealed bags to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis with the code of OG46 for elements of silver, lead and zinc.  Silver overlimits further go to gravimetric analysis with the code of GRA21.

A standard quality assurance and quality control (“QAQC”) protocol was employed to monitor the quality of sample preparation and analysis.  Standards of certified reference materials, blanks and duplicates were inserted in normal core sample sequences prior to shipment to lab at a ratio of 20:1, i.e., every twenty samples contain at least one standard sample, one blank sample and one duplicate sample.  The assay results of QAQC samples did not show any significant bias of analysis or contamination during sample preparation.

Technical information contained in this news release with respect to New Pacific has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.  Its largest shareholders are Silvercorp Metals Inc. (TSX/NYSE American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS), one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of Bolivia.

For further information, contact:

 New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

 CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2018 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. 

The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.

CAUTIONARY NOTE TO US INVESTORS

This news release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. Securities laws.  NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.

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NEW PACIFIC METALS EXPANDS LAND POSITION FOR SILVER SAND PROJECT THROUGH MINING PRODUCTION CONTRACT WITH COMIBOL

VANCOUVER, British Columbia – January 11, 2019 – Further to its press release of July 25, 2018, New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to announce that the Company, through its wholly-owned subsidiary, Empresa Minera Alcira S.A. (“Alcira”), has entered into a Mining Production Contract (the “MPC”) with Corporación Minera de Bolivia (“COMIBOL”) granting the Company the right to carry out exploration, mining, and production activities in the areas adjoining the Company’s Silver Sand Project located in the Potosí Department, Bolivia.  The MPC was approved by Bolivia’s Ministry of Mining and Metallurgy on January 7, 2019 and a signing ceremony is planned to be held in Potosí on January 14, 2019 where the Honourable César Navarro Miranda, the Minister of Bolivia’s Ministry of Mining and Metallurgy, Ing. Zelmar Andia, the President of COMIBOL, and Bernardo Peredo, Representative of the Embassy of Canada in Bolivia, among others, are anticipated to attend.  The MPC remains subject to ratification by the Plurinational Legislative Assembly of Bolivia which the parties expect to receive in due course.

Major Terms of the MPC

·         MPC covers an area of up to 56.9098 square kilometres, involving two separate areas.  The first area consists of 29 Special Temporary Authorizations (“ATEs”) located directly west of Silver Sand.  The second area may include an additional 201 mining grids or cuadrículas[1] to the north, the east and the south of Silver Sand.

·         MPC has a validity of 45 years which consists of three phases of 15 years each.  The first phase of the MPC will include five years of exploration, and, if applicable, environmental studies, engineering studies, pre-feasibility and feasibility studies as well as development and pilot production.  The second and third phases of the MPC will cover, full commercial production, environmental studies, and mine closure.

·         Alcira will commit to a minimum investment of USD 5,935,000 during the first five years of the MPC for mineral exploration and related activities.

·         If commercial production commences, COMIBOL will receive a 4% gross sales value of all minerals produced from the COMIBOL areas covered under the MPC.

“We are very pleased to have reached this historic agreement with COMIBOL,” said Dr. Rui Feng, CEO of New Pacific.  “This agreement adds significant exploration upside to our existing land holdings and raises the Silver Sand Project to a district scale operation.”

Gordon Neal, President of New Pacific said, “The MPC is a first of its kind agreement between a public resource company and the Bolivian government.  I commend the Minister of Mines and Metallurgy and the President of COMIBOL for committed focus to complete this transaction.  It is a benchmark achievement that shows that Bolivia is open to foreign investment.”

The Company is preparing information on the drilling program and work conducted on the Silver Sand project over the last several months and expects to announce results in stages over the next few weeks.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosí Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China.  Its largest shareholders are Silvercorp Metals Inc. (TSX/NYSE American: SVM), and Pan American Silver Corp. (TSX/NASDAQ: PAAS), one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosí Department of Bolivia.

For further information, please contact:

New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2018 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. 

The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.

NEW PACIFIC METALS REPORTS 2018 AGM RESULTS

NEW PACIFIC METALS REPORTS 2018 AGM RESULTS

VANCOUVER, British Columbia – December 11, 2018 – New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to report that all matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular, both dated October 25, 2018, were approved by the requisite majority of votes cast at the annual general meeting of the shareholders held on December 10, 2018 (the “AGM”).

The details of the voting results for the election of directors are set out below:

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Shareholders, at the AGM, voted 99.98% in favour of approving the stock option plan. Shareholders also approved the re-appointment of Deloitte LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors.  Final results for all matters voted on at the AGM will be filed on SEDAR at www.sedar.com and on the Company's website.

ABOUT NEW PACIFIC

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in the Potosi Department of Bolivia, the Tagish Lake gold project in Yukon, Canada and the RZY Project in Qinghai Province, China. Its largest shareholders are Silvercorp Metals Inc., and Pan American Silver Corp., one of the world's largest primary silver producers, which operates six mines, including the San Vicente mine located in the Potosi­ Department of Bolivia.

 

For further information, contact:

New Pacific Metals Corp.,

Gordon Neal

President

Phone: (604) 633-1368

Fax: (604) 669-9387

info@newpacificmetals.com

www.newpacificmetals.com

NEW PACIFIC REPORTS FINANCIAL RESULTS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2018

VANCOUVER, BRITISH COLUMBIA – November 20, 2018: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its unaudited condensed consolidated interim financial results for the three months ended September 30, 2018. 

 

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted under the Company’s profile on SEDAR at www.sedar.com and are also available on the Company's website at www.newpacificmetals.com.  All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.

 

FINANCIALS

 

Net loss attributable to equity holders of the Company for the three months ended September 30, 2018 was $752,583 or $0.01 per share (three months ended September 30, 2017 - net loss of $1,551,099 or $0.01 per share). The Company’s financial results were mainly impacted by the following: (i) income from investments of $117,197 compared to loss of $576,944 in the prior year quarter, and, (ii) operating expenses of $531,273 compared to $507,450 in the prior year quarter.

 

Income from investments for the three months ended September 30, 2018 was $117,197 (three months ended September 30, 2017 – loss of $576,944).  Within the income from investments, $364,957 was loss on the Company’s equity investments and $480,839 was income from fair value change on bonds along with interest earned.

 

Operating expenses for the three months ended September 30, 2018 was $531,273 (three months ended September 30, 2017 - $507,450). 

 

Foreign exchange loss for the three months ended September 30, 2018 was $344,842 (three months ended September 30, 2017 - $469,304). The Company holds a large portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is Canadian dollar. The fluctuation in exchange rates between the US dollar and Canadian dollar will impact the financial results of the Company.  During the three months ended September 30, 2018, the US dollar depreciated by 1.7% against Canadian dollar (from 1.3168 to 1.2945) while in the prior year the US dollar depreciated by 3.8% against Canadian dollar (from 1.2977 to 1.2480).     

 

SILVER SAND PROPERTY

 

The Company started the preparation work for the planned exploration program after the acquisition of the Silver Sand Property.  In October 2017, the Company successfully received exploration permits required by the relevant Bolivian government authorities and immediately commenced its exploration drilling program on the property.  For the three months ended September 30, 2018, total expenditures of $3,179,963 were capitalized under the property.  The accumulated expenditures on the property since acquisition were approximately $9.7 million.  These expenditures were mainly related to the drilling program, site and camp preparation, maintaining a regional office in La Paz, and building a competent management team and workforce for the property. 

 

The Company also entered into agreements with private owners to acquire their 100% interest in certain mineral concessions located adjacent to the Silver Sand Property as part of the Company’s expansion plan in the area.  For the three months ended September 30, 2018, the Company acquired total mineral concessions valued at $2,631,200 (US$2,000,000) by cash payments of $1,315,600 (US$1,000,000) and issuance of 832,000 of its common shares.

 

ABOUT NEW PACIFIC

 

New Pacific Metals Corp. is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia, the Tagish Lake Gold Project in Yukon, Canada and the RZY Project in Qinghai Province, China. 

 

For further information, contact:

New Pacific Metals Corp.,

Gordon Neal

President

Phone: (604) 633-1368

Fax: (604) 669-9387

info@newpacificmetals.com

www.newpacificmetals.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION


Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

 

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others. 

 

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2017 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. 

 

The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.

New Pacific Reports Financial Results For the Year Ended June 30, 2018

VANCOUVER, BRITISH COLUMBIA – September 13, 2018: New Pacific Metals Corp. (“New Pacific” or the “Company”) today announced its audited consolidated financial results for the year ended June 30, 2018.

This earnings release should be read in conjunction with the Company's Management Discussion & Analysis, Financial Statements and Notes to Financial Statements for the corresponding period, which have been posted under the Company’s profile on SEDAR at www.sedar.com and are also available on the Company's website at www.newpacificmetals.com.  All figures are expressed in Canadian Dollars (CAD) unless otherwise stated.

FISCAL 2018 HIGHLIGHTS

Completed the Alcira acquisition becoming owner of the Silver Sand Property in Bolivia for a total cash consideration of US$45,000,000;

Successfully received exploration permits for the Silver Sand Property in October 2017 and immediately commenced a 30,000 metre exploration drilling program; and

Raised US$57,002,700 through three private placements including strategic financing with Pan American Silver Corp. and Silvercorp Metals Inc. as a part of the funding source of the acquisition and exploration for the Silver Sand Property.

FISCAL 2018 FINANCIAL SUMMARY

Net loss attributable to equity holders of the Company for the year ended June 30, 2018 was $4,106,450 or $0.03 per share (year ended June 30, 2017 - net income of $1,372,544 or $0.02 per share). The Company’s financial results were mainly impacted by the following: (i) loss from investments of $1,539,759 compared to income of $3,032,548 in the prior year, and, (ii) operating expenses of $3,103,712 compared to $2,107,187 in the prior year.

Loss from investments for the year ended June 30, 2018 was $1,539,759 (year ended June 30, 2017 - income of $3,032,548).  Within the loss from investments, $1,081,767 was loss on the Company’s equity investments and $472,432 was loss from fair value change on bonds net of interest earned.

Operating expenses for the year ended June 30, 2018 was $3,103,712 (year ended June 30, 2017 - $2,107,187).  The increase in operating expenses was a result of the Company’s increased activity.

Foreign exchange gain for the year ended June 30, 2018 was $470,966 (year ended June 30, 2017 - foreign exchange loss of $78,944). The Company holds a large portion of cash and cash equivalents and bonds in US dollars while the Company’s functional currency is Canadian dollar. The fluctuation in exchange rates between the US dollar and Canadian dollar will impact the financial results of the Company.  During the year ended June 30, 2018, the US dollar appreciated by 1.5% against Canadian dollar (from 1.2977 to 1.3168) while in the prior year the US dollar depreciated by 0.2% against Canadian dollar (from 1.3009 to 1.2977).

FOURTH QUARTER FINANCIAL SUMMARY

For the quarter ended June 30, 2018 (“Q4 Fiscal 2018”), the Company reported net loss attributable to equity holders of $1.20 million or $0.01 per share, compared to net loss of $1.55 million or $0.02 per share for the quarter ended June 30, 2017 (“Q4 Fiscal 2017”).

Major financial items impacting the fourth quarter financial results were as follow: (i) loss from investments of $995,797 in Q4 Fiscal 2018 compared to loss from investments of $708,806 in Q4 Fiscal 2017; (ii) operating expenses of $616,622 in Q4 Fiscal 2018 compared to $756,523 in Q4 Fiscal 2017, and (iii) foreign exchange gain of $406,203 in Q4 Fiscal 2018 compared to foreign exchange loss of $524,096 in Q4 Fiscal 2017.

SILVER SAND PROPERTY

In October 2017, the Company successfully received exploration permits required by the relevant Bolivian government authorities and immediately commenced a 30,000 metre exploration drilling program on the Silver Sand Property.  For the year ended June 30, 2018, total expenditures of $6,553,301 were capitalized under the property.  These expenditures were mainly related to the drilling program, site and camp preparation, and building a competent management team and workforce for the property.

ABOUT NEW PACIFIC

New Pacific Metals Corp. is a Canadian exploration and development company which owns the Silver Sand Project, in the Potosi Department of Bolivia, the Tagish Lake Gold Project in Yukon, Canada and the RZY Project in Qinghai Province, China.

For further information, contact:

New Pacific Metals Corp.,
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
info@newpacificmetals.com
www.newpacificmetals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others.

This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Forward-looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward-looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2017 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company’s forward-looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements or information.