- New Pacific Metals (TSX:NUAG) announced assay results from its Silver Sand Project
- The results include the final 53 drill holes from the company’s 2022 resource infill and step-out drilling program
- New Pacific Metals said all assays from the 2022 drill program have been received
- A mineral resource estimate update with all drill hole data will be done before the end of October 2022
- A maiden preliminary economic assessment report for Silver Sand is expected to be done by the end of the year
- Shares of New Pacific Metals are up 13.43 per cent, trading at C$3.21 at 3:26 pm EDT
New Pacific Metals has received assay results from the final 53 drill holes from its 2022 drill program at the Silver Sand Project.
The company said all assays from the 2022 drill program have been received, while a mineral resource estimate with all resource data is expected to be done by October of this year.
The drill program included 19,323 meters in 86 drill holes. With the holes drilled in 2021, the drill program was intended to expand and improve the confidence in the geological model and Mineral Resource Estimate previously released in 2020 and for use in a preliminary economic assessment (PEA).
As such, the company’s PEA report is expected to be completed before the end of the year.
Highlights from the 2022 drill program include:
- Step-out Drill hole DSS582501 intersected an interval of 44.77 m grading 214 grams per tonne (“g/t”) silver (“Ag”) from 30.57 m to 75.34 m, and an interval of 25.04 m grading 143 g/t Ag from 151.46 to 176.50 m.
- Step-out Drill hole DSS542505 intersected an interval of 34.25 m grading 121 g/t Ag from 33.90 m to 68.15 m, including 5.57 m grading 428 g/t Ag from 37.85 m to 43.42 m.
- Step-out Drill hole DSS325001 intersected an interval of 7.64 m grading 448 g/t Ag from 147.66 m to 155.30 m, and an interval of 19.76 m grading 150 g/t Ag from 163.00 m to 182.76 m.
- Step-out Drill hole DSS305002 intersected an interval of 16.00 m grading 315 g/t Ag from 7.83 m to 23.83 m.
- Step-out Drill hole DSS687502 intersected an interval of 16.66 m grading 147 g/t Ag from 26.87 m to 43.53 m, and multiple narrow mineralized intervals at depth.
- Step-out Drill hole DSS7002 intersected an interval of 15.26 m grading 285 g/t Ag from 25.28 m to 40.54 m, and multiple narrow mineralized intervals at depth.
- Infill Drill hole DSS542507 intersected an interval of 20.86 m grading 108 g/t Ag from 9.06 m to 29.92 m.
- Infill Drill hole DSS545015 intersected an interval of 30.60 m grading 119 g/t Ag from 94.82 m to 125.42 m.
- Infill Drill hole DSS5427 intersected an interval of 36.08 m grading 210 g/t Ag from 131.68 m to 167.76 m This infill hole was drilled in the core area of Silver Sand deposit and confirmed the continuity of high-grade mineralization.
- Infill Drill hole DSS702501 intersected an interval of 54.19 m grading 132 g/t Ag from 84.90 m to 139.09 m.
- Infill Drill hole DSS547504 intersected an interval of 95.22 m grading 106 g/t Ag from 49.68 m to 144.90 m.
- InfillDrill hole DSS685002 intersected an interval of 31.30 m grading 171 g/t Ag from 11.66 m to 42.96 m, including 14.71 m grading 298 g/t Ag from 26.75 m to 41.46 m, and multiple narrow mineralized intervals at depth.
- Infill Drill hole DSS487505 intersected an interval of 19.48 m grading 337 g/t Ag from 32.45 m to 51.93 m, including 8.63 m grading 715 g/t Ag from 38.53 m to 47.16 m, and multiple narrow mineralized intervals at depth.
- Infill Drill Hole DSS502506 intersected an interval of 17.11 m grading 144 g/t Ag from 22.5 m to 39.61 m, an interval of 19.2 m grading 409 g/t Ag from 60.3 m to 79.5 m, and an interval of 3.5 m grading 224 g/t Ag from 104.5m to 108.0 m.
In addition to the drilling results, a geotechnical drill program began in August 2022 and is expected to be completed before the end of the month.
Shares of New Pacific Metals are up 13.43 per cent, trading at C$3.21 at 3:26 pm EDT.