New Pacific Extends Broad Areas of Silver Mineralization at Its Silverstrike Project, Bolivia
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NEWS RELEASE
Trading Symbol TSX: NUAG / OTCQX: NUPMF
NEW PACIFIC EXTENDS BROAD AREAS OF SILVER MINERALIZATION AT ITS
SILVERSTRIKE PROJECT, BOLIVIA
Highlights 1,865 g/t Ag and 0.96% Pb over 2.0 m and
1,665 g/t Ag, 0.43% Pb and 1.42% Cu over 2.0 m
VANCOUVER, British Columbia – September 29, 2020 – New Pacific Metals Corp. (“New Pacific” or
the “Company”) is pleased to provide an update on its exploration activities at its Silverstrike Project,
Bolivia. New Pacific acquired a 98% interest in the Project in December 2019 (please refer to news
release dated December 4, 2019). Reconnaissance and detailed mapping and sampling programs
have been completed on the northern portion of the Project. The results to date indicate good to
excellent exploration potential for hosting narrow high-grade and near-surface broad-zones of silver
mineralization.
Summary highlights of the results received to date are tabulated below in Table 1 (1) (2) (3):
Table 1 – Summary Assay Results from the Silverstrike North (1) (2) (3)
Area/Zone Sample Type Highlight Assay Results Comment
Valley Zone
Channel Chip 689 g/t Ag and 0.63% Pb over 1.5 m Underground
Channel Chip 1,100 g/t Ag and 0.61% Pb over 1.1 m Underground
North Top Channel Chip 696 g/t Ag, 12.25% Pb and 0.14% Zn over 2.0 m Surface outcrop
Tarafaya Channel Chip 909 g/t Ag, 3.68% Pb and 0.12% Cu over 1.8 m Surface outcrop
South Top
Channel Chip 906 g/t Ag, 0.39% Pb and 0.57% Cu over 1.5 m Surface outcrop
Mine Dump Grab 1,185 g/t Ag, 10.55% Pb, 0.18% Zn, 1.15% Cu Surface mine dump
CP Zone
Channel Chip 1,665 g/t Ag, 0.43% Pb, 0.36% Zn, 1.42% Cu over
2.0 m
Underground
Channel Chip 1,865 g/t Ag, 0.96% Pb, 0.17% Cu over 2.0 m Surface outcrop
Mine Dump Grab 888 g/t Ag, 0.29% Pb, 1.86% Zn, 3.41% Cu Surface mine dump
West Top Channel Chip 960 g/t Ag, 0.43% Pb and 0.12% Cu over 0.8 m;
457g/t Ag, 0.27% Pb over 2.0 m
Surface mine dump
Breccia
Zone
Channel Chip 54 g/t Ag, 5.64% Pb, 19.5% Zn over 1.1 m Surface outcrop
Mine Dump Grab 713 g/t Ag, 7.66% Pb and 4.5% Zn Surface mine dump
San Luis
Mine
Channel Chip 178 g/t Ag and 2.91% Pb over 1.1 m Underground
Mine Dump Grab 504 g/t Ag, 10.6% Pb, 0.14% Zn and 0.81% Cu Surface mine dump
Lourdes
Ines Mine
Channel Chip 239 g/t Ag and 6.59% Pb over 0.5 m Surface outcrop
Mine Dump Grab 1,675 g/t Ag, 18.35% Pb, 2.03% Zn and 0.6% Cu Surface mine dump
Turini Zone
Channel Chip 257 g/t Ag, 4.64% Pb and 11.4% Zn over 0.9 m Surface outcrop
Mine Dump Grab 3,220 g/t Ag, 51.18% Pb, 14.95% Zn and 1.76% Cu Surface mine dump
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(1) The highlights are sourced from the assay results of 2,751 samples taken to date at Silverstrike North area.
(2) Grab samples are selective in nature and are not necessarily representative of in situ mineralization.
(3) Channel chip sample interval is close to true width as samples were collected across and normal to mineralized structures.
Detailed Mapping and Sampling Program
Silverstrike North is centred on the historic Berenguela Mining District and is characterized by
abundant historic mine adits, declines, shafts and spoil heaps scattered intermittently over an
approximately 3.5 by 2.2 km area. It includes the Valley Zone, North Top, Tarafaya Mine, South Top,
West Top, and CP Zone in addition to the former San Luis Mine, Lo urdes Ines Mine and the Turini
Mine which are discussed below (Figure 1).
In March 2020, the Company initiated an inte grated exploration program consisting of 1:5000 scale
reconnaissance and 1:500 scale detailed geological, structural and alteration mapping and
geochemical sampling programs. The program aimed to geologically define and sample the extents
of the hydrothermal system(s), including extensive Spanish Colonial-era historic workings to develop
drill targets.
The exploration team identified and sampled numerous mining adits, declines, shafts and surface
open pits. Historic mining operations were developed along steeply dipping fracture zones which
ranged from 0.5 -2 meters wide developed in altered / bleached Tertiary aged sandstones. In
addition, several new mineralized zones were identified as part of the field work.
A total of 2,751 samples were collected incl uding 2,607 channel chip samples and 144 mine dump
grab samples. Majority of the samples were taken from surface outcrops of alteration and
mineralization. All 2,751 assay results have been received of which, 56 samples have silver grades
>300 g/t (average 696 g/t Ag), 163 samples with >100 g/t (average 347 g/t Ag), and 236 samples >50
g/t (average 262 g/t Ag).
Representative channel chip samples were collected perpendicular to outcropping altered fractures,
however, in many areas historic mining activit ies and resultant waste dumps obscure the facture
zones. Underground channel chip sampling across mineralized zones typically returned grades
ranging from a few hundred to more than one thousand ppm Ag and associated base metals (Pb, Zn
and Cu – see tables for details).
DETAIL – see Figure 1 for locations
Valley Zone forms the core of the Berenguela Mining District and is defined by abundant historic
mine workings over an area of approximately 1,800 m long in an E -W direction and 300 m wide in a
N-S direction (Figure 1). Six adits were mapped and sampled and 20 channel chip samples of
mineralized veins were collected returning average grades of 306 g/t Ag, 1.06% Pb over 1.08 m with
the best interval of 1.1 m @ 1,100g/t Ag and 0.61% Pb from the San Jose Mine Adit #-4.
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North Top Zone located immediately north of the Valley Zone is comprised of sub -horizontal
sandstones cut by NWW striking mineralized fractures over an area 1 ,600 m long in E -W direction
and 300 m wide in a N -S direction (Figure 1). Channel chip sampling return ed grades up to 696 g/t
Ag and 12.25% Pb over 2 m.
Tarafaya Mine Zone is located approximately one kilometre to the north of Berenguela village
(Figure 1). The channel chip sampling across mineralized fractures returned grades of up to 909 g/t
Ag, and 3.68% Pb over 1.8 m, and 455 g/t Ag and 1.31% Pb over 1.4 m.
West Top Zone forms a topographic high of horizontal sandstone s adjacent to the Valley Zone
(Figure 1). Mine dump gr ab sampling return ed grades up to 265 g/t Ag and 0.53% Pb, and
channel chip sampling returned up to 960 g/t Ag and 0.43% Pb over 0.8 m, and 457 g/t Ag and 0.27%
Pb over 2 m.
South Top Zone is a flat area of sub -horizontal sandstones cut by numerous NWW striking
mineralized fractures defining a mineralized corridor 1 ,600 m long in E -W direction and 300 m wide
in N-S direction (Figure 1).
The team collected 448 samples of which grab sample results returned values up to 1 ,185 g/t Ag,
10.55% Pb and 1.15% Cu and the highest channel chip channel sample results of 906 g/t Ag, 0.39%
Pb and 0.57% Cu over 1.5 m. Table 2 summarizes assay results with silver grades higher than 300 g/t.
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Table 2 - Summary of Assay Results from the South Top Zone (1) (2)
Sample # Agg/t Pb_% Cu_% Sample type
SCH001898 428 0.37 0.03 2m chip
SHC000147 413 0.48 0.38 dump
SHC000148 368 0.07 0.07 dump
SHC000201 523 0.05 0.01 1m chip
SHC000202 307 0.76 1.45 dump
SHC000209 325 0.24 0.73 dump
SHC000213 1,185 10.55 1.15 dump
SHC000223 906 0.39 0.57 1.5m chip
SHC000225 687 1.36 0.66 dump
SHC000232 594 0.13 0.12 dump
SHC000233 797 0.29 0.29 dump
(1) Grab dump samples are selective in nature and are not necessarily representative of in situ mineralization.
(2) Channel chip sample interval is close to true width as chip samples were taken across and normal to mineralized
structures.
CP Zone, site of the former Nelly Mine, covers an area of 2 ,500 m long in E -W direction and 800 m
wide in N -S direction and is defined by extensive areas of talus material and widespread mining
dumps (Figure 1). This structural fairway extends into the West Top Zone.
Systematic dump grab sampling ( a total of 82 samples) returned average grades of 129 g/t Ag, 0.54
Pb%, 0.48% Zn and 0.34% Cu with the highest value of 888 g/t Ag, 0.29% Pb, 1.86% Zn and 3.41% Cu.
Underground channel chip sampling in five adits returned values up to 1,665 g/t Ag, 0.43% Pb, 0.36%
Zn and 1.42% Cu over 2 m. Surface channel chip sampling across mineralized fractures retur ned
values up to 1,865 g/t Ag, 0.96% Pb and 0.17% Cu over 2 m. Table 3 summarizes assay results with
silver grades higher than 300 g/t.
Table 3 - Summary of Assay Results from the CP Zone
Sample # Ag_ppm Pb_% Zn_% Cu_% Sample type
SCH001496 617 0.17 0.31 0.66 0.5m chip
SCH001497 315 0.05 0.44 0.28 0.7m chip
SHC000009 300 0.8 0.14 0.19 dump
SHC000014 346 0.34 0.22 0.35 dump
SHC000023 447 0.05 0.05 0.34 dump
SHC000040 374 0.44 0.34 0.51 dump
SHC000108 338 0.17 0.05 2.27 dump
SHC000110 1,865 0.96 0.02 0.17 2m chip
SHC000112 327 0.18 0.16 0.82 dump
SHC000113 527 4.36 1.07 0.42 dump
SHC000114 888 0.29 1.86 3.41 dump
SHC000133 434 0.62 0.54 0.48 dump
SHC000917 1,665 0.43 0.36 1.42 2m chip
(1) Grab dump samples are selective in nature and are not necessarily representative of in situ mineralization.
(2) Channel chip sample interval is close to true width as chip samples were taken across and normal to mineralized
structures.
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Breccia Zone is located to the west of Berenguela village (Figure 1). It is a sporadically outcropping,
NNW trending, tectonic-hydrothermal breccia zone of about 2 km long and up to 50 m wide. Historic
mine workings (adits, surface cuts and mine dumps) occur along its length. Two mine dump g rab
samples returned values of 713 g/t Ag, 7.66% Pb and 4.5% Zn and 223 g/t Ag, 0.41% Pb, 0.59% Zn
and 1.27% Cu, respectively. Channel chip samples from surface reported grades up to 54 g/t Ag, 5.64%
Pb and 19.5% Zn over 1.1 m.
San Luis Mine Zone forms the northernmost extent of the Silverstrike North area and is comprised of
mineralized fracture zones developed in sub -horizontal altered Tertiary sandstones. These fracture
swarms constitute a broad corridor approximately 1 km long in an east-west direction and up to 70
m wide in north -south direction. Mine dump g rab sampling of seven samples returned average
grades of 157 g/t Ag, 6.71% Pb and 9.52% Zn with the highest returning 504 g/t Ag, 10.6% Pb and
0.81% Cu. Channel chip sampling across an accessible underground drift returned grades up to 178
g/t Ag and 2.91% Pb over 1.1 m.
Lordes Ines Mine Zone is located 2 ,300 m to the southwest of the Berenguela village . The zone is
dominated by t wo sets of cross cutting mineralized fractures developed in sub -horizontal Tertiary
sandstones. Interaction between the crosscutting fractures forms a stockwork of veinlets and
crackle breccia mappable as a broad mineralized structur al corridor of circa 2 km long and 100 m
wide. Many of the former mine workings are inaccessible however mine dump g rab sampling
returned average grades of 635 g/t Ag, 18.43% Pb, 0.95% Zn and 0.79% Cu (n=5) with the highest
values of up to 1,675 g/t Ag, 18.35% Pb, 2.03% Zn and 0.6% Cu.
Seventy-five channel chip samples of surface fractures returned grades up to 239 g/t Ag and 6.59%
Pb over 0.5 m wide, and a channel chip sample from a breccia zone returned grades of up to 94 g/t
Ag, 2.62% Pb and 3.06% Zn over 1.5 m.
Turini Mine Zone is located 1.8 km to the west of Berenguela village . Mine dumps are distributed
along a corridor of 1 ,100 m long and up to 50 m wide. Five mine dump g rab sampl es returned
average grades of 886 g/t Ag, 18.88% Pb, 5.33% Zn, 0.72% Cu with the highest values up to 3,220 g/t
Ag, 51.18% Pb, 14.95% Zn and 1.76% Cu.
Forty channel chip samples were collected with the highest returning up to 257 g/t Ag, 4.64% Pb and
11.4% Zn over 0.9 m wide. No underground workings were accessible.
FUTURE WORK
New Pacific’s exploration team is currently completing mapping and sampling of the Silverstrike
Central and South areas summary results of which will be released upon receipt . Following
integration of the geochemical sample results and geological data , the Company will generate drill
targets for testing upon receipt of required drill permits which is tentatively anticipated in Q4 2020.
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Quality Assurance and Quality Control
The grab and chip samples with results released in the news release were shipped in securely sealed
bags by New Pacific staff in the Company’s vehicles directly from field to ALS Global in Oruro, Bolivia
for preparation, and ALS Global in Lima, Peru for geochemical analysis. All samples are first analyzed
by a multi -element ICP package (ALS code ME -MS41) with ore grade over limits for silver, lead and
zinc further analyzed using ALS code OG46. Further silver over limits are analyzed by gravimetric
analysis (ALS code of GRA21).
The assay results of the grab and chip samples are used for reconnaissance purpose, hence no
certified reference materials and blank materials were inserted to the normal sample sequence in
the field. However, internal QAQC results of ALS lab did not show any significant bias of analysis or
contamination during sample preparation.
Technical information contained in this news release has been reviewed and approved by Alex Zhang,
P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43-101.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and development company which owns the Silver Sand Project,
in the Potosi Department of Bolivia and the Tagish Lake Gold Project in Yukon, Canada.
For further information, please contact:
New Pacific Metals Corp.
Gordon Neal
President
Phone: (604) 633-1368
Fax: (604) 669-9387
www.newpacificmetals.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this news 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”,
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“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.
The Company cautions the reader that 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 lim itation,
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.
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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 u ncertain, 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, 2020 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 assum e 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 Canadian National
Instrument 43-101 - Standards of Disclosure for Mineral Projects (''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 Secu rities Administrators that establishes
standards for all public disclosure an issuer makes of scientific and technical information concerning
mineral projects.