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New Pacific Metals

New Pacific Metals continues to find wide intervals of silver at flagship Bolivia asset

The latest assays come from a further 20 holes, which were sunk to confirm continuity of mineralization in selected areas, which were drilled in 2018

New Pacific Metals -
Standout results included 165.5 metres (m) at 204 grams per ton (g/t) silver in one hole

New Pacific Metals Corp (CVE:NUAG) (OTCMKTS:NUPMF) has posted more encouraging drill results from its wholly-owned Silver Sand project in Bolivia, which continue to show wide intervals of silver.

Shares in the Vancouver-headquartered firm closed over 14.5% higher at $2.99 in Toronto on Tuesday.

READ: New Pacific reports second batch of success at Silver Sand project in Bolivia

The company's latest statement - released after the market close on Tuesday - comes after New Pacific earlier this month reported a second batch of 31 holes from the program, which started in April this year, showing positive assays.

The latest assays come from a further 20 holes, which were sunk to infill the drill grid to a density of 25 metres by 25 metres to confirm continuity of mineralization in selected areas, which were drilled in 2018.

Standout results include 165.5 metres (m) at 204 grams per ton (g/t) silver in one hole, which also included 93.5m at 336 g/t of the precious metal.

Another hole was home to an intercept of 75.8m at 128g/t silver, while another had 68.68 meters at 153g/t silver.

Another hole showed 109.75m at 96g/t silver, which included 14.15m at 250 g/t silver.

All holes continuously intercept significant wide silver mineralization in fractures developed in bleached quartz sandstones, the firm noted in the statement.

Good metallurgical results

Last week, New Pacific released "good" results from preliminary metallurgical test work at Silver Sand.

“This preliminary metallurgical program has demonstrated that good silver extraction rates are possible using these simple extraction methods and that further improvements and refinements should be possible in future programs after fine-tuning the various test parameters," it said then.

New Pacific Metals is exploring and developing precious and base metals properties in South America, Canada and China. Its flagship property is the Silver Sand project in the Potosí Department of Bolivia. New Pacific's largest shareholders are Silvercorp Metals Inc (TSE:SVM) and Pan American Silver Corp. (TSE:PAAS) (NASDAQ:PAAS).

Shares shed 1.67% to $2.94 in Toronto.

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Price: $2.88

Market: TSX-V
Market Cap: $410.21 m
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Full interview: New Pacific Metals releases metallurgical testing from...

New Pacific Metals (CVE: NUAG) President Gordon Neal sat down with Steve Darling from Proactive Vancouver to talk about the latest work that was done on their Silver Sand Project in Bolivia. Neal talked about some of the results from testing and also about their drill program. Neal telling...

3 weeks, 2 days ago

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