NUAG.TO · 2020-08-06 12:00:00

NEW PACIFIC INTERCEPTS MULTIPLE ZONES OF SILVER MINERALIZATION AT SNAKE HOLE ZONE, SILVER SAND PROJECT, BOLIVIA Highlights include 30.9 m at 159 g/t silver including 12.2 m at 354 g/t silver — system remains open for expansion

Drill Results

NEWS REL

Trading Sy

NEW P

Vancouve

(“New Pac

continues

The Snake

Sand depo

517 g/t Ag

During the

of the dri l

the >1,0 0

mineraliza

with pend

mineraliza

LEASE

ymbol: TSX ‐

OTCQ

PACIFIC INTE

Highligh

er, British Col u

cific” or the “

to intersect b

e H o l e Z o n e p

os i t , w a s d i s co

g over 32.96 m

e first quarter

ll program w a

00 m minera

ation, of whic h

ding assay r e

ation between

able 1: Summ

rillhole ID

SS525022

SS525023

SS5227

SS5228

SS5229

SS5230

‐V: NUAG

QX: NUPMF

RCEPTS MUL

hts include 30

umbia – Aug u

“Company”) is

broad zones of

prospect, loca

overed in late

m in discovery

of 2020, eigh

as to confirm

lized trend.

h assay result

esults for th e

n the holes on

ary of Snake H

Target

Snake Hole

LTIPLE ZONES

SILVER SAN

0.9 m at 159 g

system remai

ust 6, 2020 –

s p l e a s e d t o a

f silver minera

ted approxim

e 2019 and re

hole DSS5218

t new drill hol

the continuit

Seven of t

s of six holes

e remaining t

section 52, w

Hole Zone pro

Zone 1 3

incl 1 3

Zone

Zone 4

and 1 2

Zone 5

incl 6

incl 7

and 1 3

incl 1 5

Zone 1 3

Zone 8

and 1 3

S OF SILVER M

D PROJECT, B

/t silver inclu

ins open for e

New Pacific M

announce tha

alization and c

mately 600 me

eturned result

8 (see news re

les were comp

y of silver mi

he eight hol

have been r e

two holes. D

where the initia

ospect drill ass

From T o

37.50 154

37.50 145

45.06 75. 4

22.53 136

57.91 97.

66.37 97.

78.33 90.

39.00 163

51.47 163

34.50 144

86.15 95. 0

31.11 150

MINERALIZAT

BOLIVIA

ding 12.2 m a

expansion

Metals Corp. (

at exploration

confirms mine

etres (“m”) ea

ts such as 279

elease from Ja

pleted for a to

neralization a

es intersect e

eceived and a r

Drill results c

al discovery at

say results fro

o L e n g t h

.03 16.5 3

.30 7.80

o significant re

46 30.4 0

.80 14.2 7

30 39.3 9

30 30.9 3

59 12.2 6

.60 24.6 0

.60 12.1 3

.17 9.67

00 8.85

.15 19.0 4

TION AT SNAK

at 354 g/t silve

(TSX‐V: NUAG

drilling at th

eral continuity

ast of the core

9 g / t A g o v e r

anuary 13, 202

otal of 1,589.7

as well as to c

ed structurall y

re summarize

confirm the c

t Snake Hole w

m Q1 2020 dr

h Weigh

Grade Ag

3 1 0 7

216

esults

0 1 7 2

7 1 3 8

9 1 2 6

3 1 5 9

6 3 5 4

0 1 0 2

3 1 4 8

166

4 3 2

KE HOLE ZON

er –

G) (OTCQX: N U

e Snake Hole

e a r e a o f t h e

72.44 m, inc

20).

75 m. The obj

continue to e x

y controlled

d in Table 1 b

continuity of

was made in 2

rilling.

hted

g (g/t)

NE,

UPMF)

e Z o n e

Silver

luding

ective

xplore

silver

below,

silver

2019.

DSS5231 assay pending

DSS505020 assay pending

Notes:

1. T r u e w i d t h i s e s t i m a t e d a t 8 0 % of drill intercepts based on the current understanding of the relationship

between drill direction and mineralized structures. Grade is length weighted.

2. Drill location, azimuth and dip of drill holes provided in Table 2 below

SNAKE HOLE ZONE

The Snake Hole Zone prospect consists of near‐surface artisanal underground workings and related surface

dumps which follow several NNW‐SSE trending silver‐mineralized s t r u c t u r e s . A s i s t h e c a s e w i t h t h e S i l v e r

Sand deposit, historical mining at Snake Hole began during the Spanish colonial era and has continued

s p o r a d i c a l l y t o r e c e n t t i m e s . T h e w o r k i n g s a r e d e v e l o p e d i n a l tered (bleached) quartz sandstones and are

traceable for more than 1,000 m in strike with widths varying f rom a few metres to locally up to 100 m wide.

Geochemical sampling of the workings and mine dumps returned consistent results typically ranging from

100 g/t Ag to 300 g/t Ag.

Surface mapping suggests the mineralized fracture zone remains open to north where it potentially trends

undercover towards the Company’s Jisas prospect located approxi m a t e l y t w o k i l o m e t r e s ( “ k m ” ) t o t h e

northwest.

COVID‐19 & FUTURE WORK

New Pacific’ commitment to the health and safety of its teams a nd the communities in which it operates is

one of the core values of the Company. In response to the COVI D‐19 pandemic and based on guidance and

directives from relevant public health authorities, the Company elected to temporarily suspend all field‐

based operations in Bolivia in mid‐March. The Company’s Health & Safety Team has implemented Company‐

wide safety protocols such as 14‐day self‐isolation where neces sary, travel restrictions, remote working and

e n h a n c e d h y g i e n e c o n t r o l s . N e w P a c i f i c c o n t i n u e s t o m o n i t o r t he situation and will return to operations

when it is deemed safe to do so by international health authorities.

In the interim, the Company is actively completing detailed ge ological – structural and geochemical studies

o n t h e S i l v e r S a n d d e p o s i t a s w e l l a s i t s o t h e r e x p l o r a t i o n p r operties to support future advanced technical

studies.

QUALITY ASSURANCE AND QUALITY CONTROL

HQ‐size drill core samples from altered and mineralized interva ls are split into halves by diamond saw, with

an average sample length of between one to one and a half metre s, at the Company’s core processing facility

l o c a t e d i n B e t a n z o s , a s m a l l t o w n l o c a t e d 2 0 k m f r o m t h e p r o j e ct s i t e . H a l f c o r e s a m p l e s a r e s t o r e d i n a

secure storage facility in Betanzos for future reference, with the other half shipped in securely sealed bags to

ALS Global in Oruro, Bolivia for preparation, and ALS Global in L i m a , P e r u f o r g e o c h e m i c a l a n a l y s i s . A l l

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. Fu rther silver over limits are analyzed by

gravimetric analysis (ALS 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 refere nce materials and blanks are inserted into the

normal core sample sequences prior to shipping to the lab at a ratio of 20:1 (i.e., every 20 samples contain at

least one standard sample and one blank sample). Duplicate sam ples of coarse rejects at a ratio of 20:1 are

s e n t t o a s e c o n d i n t e r n a t i o n a l l y a c c r e d i t e d l a b f o r c h e c k a n a l ysis. The assay results of QAQC samples of

standards and blanks do not show any significant bias of analysis or contamination during sample preparation.

Technical information contained in this news release has been r eviewed 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

Potosí Department, Bolivia and the Tagish Lake gold project in Yukon, Canada.

For further information, contact:

New Pacific Metals Corp.

Gordon Neal

President

Phone: (604) 633‐1368

Fax: (604) 669‐9387

[email protected]

www.newpacificmetals.com

Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (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 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 ph rases 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

o f t h e s e t e r m s a n d s i m i l a r e x p r e s s i o n s ) a r e n o t s t a t e m e n t s o f historical fact and may be forward‐looking

statements or information.

Forward‐looking statements or information are subject to a vari ety of known and unknown risks, uncertainties and

other factors that could cause actual events or results to diff e r f r o m t h o s e r e f l e c t e d i n t h e f o r w a r d ‐ l o o k i n g

statements or information, including, without limitation, risks relating to: social and economic impacts of COVID‐19;

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 stat ements about the future and are inherently

uncertain, and actual achievements of the Company or other futu re events or conditions may differ materially from

those reflected in the forward‐looking statements or informatio n due to a variety of risks, uncertainties and other

factors, including, without limitation, those referred to in the Company’s Annual Information Form under the

heading “Risk Factors”. Although the Company has attempted to i dentify important factors that could cause actual

results to differ materially, there may be other factors that ca u s e r e s u l t s n o t t o b e a s a n t i c i p a t e d , e s t i m a t e d ,

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 forw ard‐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 requ irements 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

Table 2– Location, Azimuth and Dip of Drill Holes

Hole ID Easting Northing Elev (m) Azimuth ( °) Dip (°) Length (m)

DSS525022 235611 7856958 3795 58.03 ‐62.8 220.15

DSS525023 235611 7856958 3795 54.45 ‐77.2 203.50

DSS5227 235592 7857001 3798 58.12 ‐53.9 175.80

DSS5228 235592 7857001 3798 55.41 ‐71.9 184.50

DSS5229 235592 7857001 3798 334.39 ‐89.2 212.50

DSS5230 235592 7857001 3798 90.36 ‐64.1 191.00

DSS5231 235592 7857001 3798 34.04 ‐63.6 181.60

DSS505020 235562 7857039 3806 60.71 ‐62.9 220.70

Notes: coordinate system is WGS84, UTM20 South

← Back to feed