6-K
NEW PACIFIC METALS CORP (NEWP)
UNITED STATESSECURITIES AND EXCHANGE COMMISSION****Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OFTHE SECURITIES EXCHANGE ACT OF 1934
September 19, 2022
Commission File No. 0001-34184
NEW PACIFICMETALS CORP.(Translation of registrant's name into English)
Suite 1750 - 1066 W. Hastings Street
Vancouver BC, Canada V6E 3X1
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]
Form 20-F [ ] Form 40-F [ X ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) [ ]
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is "submitting" the Form 6-K in paper as permitted by Regulation S-T "Rule" 101(b)(7) [ ]
**Note:**Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Dated: September 19, 2022 | NEW PACIFIC METALS CORP. |
|---|---|
| /s/ Jalen Yuan | |
| Jalen Yuan | |
| Chief Financial Officer |
EXHIBIT INDEX
| EXHIBIT | DESCRIPTION OF EXHIBIT |
|---|---|
| 99.1 | News<br> Release dated September 19, 2022 |
Exhibit 99.1
****
New Pacific Reports Drill Hole Assay Results and Remains On Schedule to Complete the PEA For the Silver Sand Project
VANCOUVER, BC, Sept. 19, 2022 /CNW/ - New Pacific Metals Corp. ("New Pacific" or the "Company") (TSX: NUAG) (NYSE American: NEWP) is pleased to announce the assay results of the final 53 drill holes from the 2022 resource infill and step-out drilling program completed at the Silver Sand Project. All assays from the 2022 drill program have now been received, and a mineral resource estimate update with all drill hole data is expected to be completed by October 2022. In addition, Silver Sand's maiden Preliminary Economic Assessment ("PEA") report is on track for completion by the end of 2022 as planned (please refer to the Company's new release on February 8, 2022).
The 2022 drill program of 19,323 metres in 86 drill holes, together with those holes drilled in 2021, intended to expand and improve the confidence in the geological model and Mineral Resource Estimate released in April 2020 and to be used for the PEA. Assay results for the first 33 holes were released on April 6, 2022, and May 31, 2002. Assay results for the final 53 drill holes are summarized in Table 1 with drill hole specifications given in Table 2.
HIGHLIGHTS
- Step-out Drill hole DSS582501intersected 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 DSS687502intersected 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 DSS7002intersected 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 DSS542507intersected an interval of 20.86 m grading 108 g/t Ag from 9.06 m to 29.92 m.
- Infill Drill hole DSS545015intersected an interval of 30.60 m grading 119 g/t Ag from 94.82 m to 125.42 m.
- Infill Drill hole DSS5427intersected 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.
- Infill Drill hole DSS685002intersected 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 DSS487505intersected 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.
GEOTECHNICAL DRILLING
A geotechnical drill program commenced in August 2022 and is expected to be completed by the end of September. This 11-hole (2,460 m) program was designed and supervised by an independent specialist consulting firm for optimizing pit slope design in the PEA. Geotechnical logging is carried out on oriented drill cores at drill sites.
| Table 1 Summary of Drill Hole Intercepts | ||||||||
|---|---|---|---|---|---|---|---|---|
| Hole_ID | Depth_from | Depth_to | Interval_m | Ag_g/t | Pb_% | Zn_% | ||
| DSS542505 | 23.66 | 27.75 | 4.09 | 65 | 0.01 | |||
| 33.90 | 68.15 | 34.25 | 121 | 0.04 | 0.08 | |||
| incl. | 37.85 | 43.42 | 5.57 | 428 | 0.02 | 0.01 | ||
| 86.05 | 88.59 | 2.54 | 138 | 0.01 | 0.01 | |||
| DSS6611 | 35.64 | 50.30 | 14.66 | 169 | 0.18 | 0.11 | ||
| DSS6610 | 50.60 | 65.21 | 14.61 | 56 | 0.01 | |||
| 92.00 | 96.80 | 4.80 | 86 | 0.15 | 0.21 | |||
| 118.19 | 125.75 | 7.56 | 23 | 0.21 | 0.89 | |||
| 151.46 | 163.25 | 11.79 | 86 | 0.35 | 0.14 | |||
| 193.41 | 201.79 | 8.38 | 40 | 0.23 | 0.15 | |||
| 262.06 | 263.21 | 1.15 | 251 | 0.13 | 0.04 | |||
| DSS542508 | 5.55 | 20.42 | 14.87 | 48 | 0.16 | 0.87 | ||
| DSS542506 | 16.68 | 30.84 | 14.16 | 75 | 0.03 | 0.02 | ||
| DSS305001 | 95.70 | 99.23 | 3.53 | 40 | 0.02 | |||
| DSS687501 | 86.70 | 100.70 | 14.00 | 147 | 0.13 | 0.41 | ||
| 130.01 | 132.50 | 2.49 | 64 | 1.27 | 3.25 | |||
| 139.80 | 140.92 | 1.12 | 163 | 0.63 | 0.93 | |||
| 196.28 | 199.87 | 3.59 | 42 | 0.07 | 0.04 | |||
| DSS2801 | 69.00 | 70.00 | 1.00 | 54 | 0.01 | |||
| DSS3001 | 64.90 | 66.31 | 1.41 | 58 | 0.02 | |||
| 166.50 | 167.98 | 1.48 | 65 | 0.03 | ||||
| DSS542507 | 9.06 | 29.92 | 20.86 | 108 | 0.08 | 0.22 | ||
| DSS7401 | No Significant Intercept | |||||||
| DSS542509 | 79.72 | 82.30 | 2.58 | 85 | 0.02 | 0.02 | ||
| 107.95 | 109.00 | 1.05 | 1020 | 0.88 | 0.02 | |||
| 115.22 | 118.90 | 3.68 | 334 | 0.18 | 0.01 | |||
| 134.33 | 137.70 | 3.37 | 88 | 0.16 | 0.02 | |||
| 170.40 | 179.00 | 8.60 | 145 | 0.07 | 0.01 | |||
| DSS705001 | 43.60 | 44.70 | 1.10 | 77 | 0.07 | |||
| 81.40 | 82.85 | 1.45 | 117 | 2.06 | ||||
| 99.23 | 106.58 | 7.35 | 111 | 0.09 | ||||
| 171.88 | 177.45 | 5.57 | 58 | 0.03 | ||||
| DSS545015 | 65.60 | 75.65 | 10.05 | 51 | 0.04 | |||
| 94.82 | 125.42 | 30.60 | 119 | 0.06 | 0.01 | |||
| DSS325002 | 96.17 | 97.67 | 1.50 | 86 | 1.30 | 0.43 | ||
| 154.91 | 156.36 | 1.45 | 132 | 0.03 | ||||
| DSS7601 | 105.32 | 106.76 | 1.44 | 60 | 0.01 | |||
| 111.08 | 121.13 | 10.05 | 76 | 0.01 | ||||
| DSS545017 | 20.05 | 29.60 | 9.55 | 48 | 0.07 | 0.47 | ||
| DSS5427 | 20.14 | 22.46 | 2.32 | 74 | 0.11 | |||
| 96.54 | 100.06 | 3.52 | 53 | 0.05 | ||||
| 119.81 | 123.32 | 3.51 | 93 | 0.07 | ||||
| 131.68 | 167.76 | 36.08 | 210 | 0.04 | 0.02 | |||
| incl. | 146.70 | 164.00 | 17.30 | 339 | 0.03 | 0.03 | ||
| DSS325004 | No Significant Intercept | |||||||
| DSS345002 | 96.37 | 97.50 | 1.13 | 84 | ||||
| 126.89 | 128.28 | 1.39 | 144 | 0.04 | 0.01 | |||
| 143.17 | 147.40 | 4.23 | 102 | 0.01 | 0.03 | |||
| DSS545016 | 18.00 | 43.41 | 25.41 | 82 | 0.05 | 0.16 | ||
| DSS325003 | 32.38 | 33.55 | 1.17 | 35 | 0.01 | |||
| DSS325001 | 147.66 | 155.30 | 7.64 | 448 | 0.09 | |||
| 163.00 | 182.76 | 19.76 | 150 | 0.06 | 0.10 | |||
| DSS702501 | 84.90 | 139.09 | 54.19 | 132 | 0.38 | 0.54 | ||
| 178.80 | 184.00 | 5.20 | 46 | 0.04 | ||||
| DSS547506 | 23.00 | 61.62 | 38.62 | 68 | 0.06 | 0.02 | ||
| DSS547505 | 14.85 | 26.97 | 12.12 | 168 | ||||
| incl. | 23.45 | 25.70 | 2.25 | 738 | ||||
| 67.20 | 115.22 | 48.02 | 57 | 0.04 | 0.01 | |||
| incl. | 80.76 | 84.58 | 3.82 | 426 | 0.12 | |||
| DSS547510 | 11.00 | 24.00 | 13.00 | 111 | 0.02 | 0.01 | ||
| DSS547509 | 17.74 | 31.44 | 13.70 | 88 | 0.02 | 0.01 | ||
| DSS445006 | 97.90 | 117.50 | 19.60 | 68 | 0.02 | 0.01 | ||
| 125.30 | 126.50 | 1.20 | 212 | 0.07 | 0.57 | |||
| DSS305002 | 7.83 | 23.83 | 16.00 | 315 | 0.02 | |||
| 132.07 | 133.50 | 1.43 | 102 | 0.03 | 0.01 | |||
| DSS547504 | 49.68 | 144.90 | 95.22 | 106 | 0.06 | 0.04 | ||
| DSS562506 | 46.00 | 70.28 | 24.28 | 56 | 0.08 | 0.15 | ||
| DSS685002 | 11.66 | 42.96 | 31.30 | 171 | 0.02 | |||
| incl. | 26.75 | 41.46 | 14.71 | 298 | 0.03 | |||
| 92.38 | 98.15 | 5.77 | 65 | 0.03 | ||||
| 104.87 | 111.61 | 6.74 | 34 | 0.11 | 0.18 | |||
| 120.20 | 148.53 | 28.33 | 48 | 0.09 | 0.02 | |||
| 181.50 | 189.21 | 7.71 | 27 | 0.14 | 0.57 | |||
| 198.80 | 208.40 | 9.60 | 96 | 0.03 | 0.06 | |||
| DSS5427 | 20.14 | 22.46 | 2.32 | 74 | 0.11 | |||
| 96.54 | 100.06 | 3.52 | 53 | 0.05 | ||||
| 119.81 | 123.32 | 3.51 | 93 | 0.07 | ||||
| 131.68 | 167.76 | 36.08 | 210 | 0.04 | 0.02 | |||
| incl. | 146.70 | 164.00 | 17.30 | 339 | 0.03 | 0.03 | ||
| DSS325005 | 157.19 | 160.10 | 2.91 | 108 | 0.01 | |||
| DSS562507 | 29.52 | 35.93 | 6.41 | 110 | ||||
| 54.65 | 116.00 | 61.35 | 83 | 0.07 | 0.01 | |||
| DSS565010 | 13.89 | 18.15 | 4.26 | 115 | 0.01 | 0.01 | ||
| 44.17 | 46.22 | 2.05 | 80 | 0.07 | 0.05 | |||
| 58.40 | 61.00 | 2.60 | 56 | 0.04 | ||||
| DSS565011 | 42.57 | 46.80 | 4.23 | 75 | 0.04 | |||
| 85.90 | 88.75 | 2.85 | 104 | 0.10 | 0.01 | |||
| 98.76 | 100.23 | 1.47 | 81 | 0.04 | ||||
| DSS547507 | 52.23 | 60.09 | 7.86 | 57 | 0.05 | |||
| 67.30 | 84.12 | 16.82 | 88 | 0.03 | 0.01 | |||
| 104.00 | 115.07 | 11.07 | 56 | 0.04 | ||||
| DSS6804 | 16.80 | 20.30 | 3.50 | 98 | 0.01 | |||
| 161.78 | 164.25 | 2.47 | 57 | |||||
| 198.68 | 199.90 | 1.22 | 85 | 0.06 | 0.20 | |||
| 301.75 | 336.50 | 34.75 | 31 | 0.03 | 0.01 | |||
| DSS467504 | 95.90 | 113.32 | 17.42 | 360 | 0.03 | 0.01 | ||
| 191.97 | 198.75 | 6.78 | 76 | 1.80 | 0.02 | |||
| DSS547508 | 46.00 | 47.00 | 1.00 | 199 | 0.15 | 0.04 | ||
| 61.65 | 99.15 | 37.50 | 77 | 0.03 | 0.04 | |||
| 122.80 | 126.10 | 3.30 | 59 | 0.07 | 0.19 | |||
| DSS705002 | 21.66 | 32.06 | 10.40 | 279 | 0.12 | |||
| 90.68 | 100.20 | 9.52 | 324 | 0.22 | ||||
| DSS482502 | 79.10 | 100.37 | 21.27 | 60 | 0.47 | 0.01 | ||
| 124.38 | 126.85 | 2.47 | 83 | 0.48 | 0.01 | |||
| 133.10 | 134.12 | 1.02 | 440 | 2.19 | 0.02 | |||
| 149.00 | 158.87 | 9.87 | 32 | 0.43 | 0.03 | |||
| 191.96 | 193.03 | 1.07 | 124 | 3.34 | 0.02 | |||
| DSS687502 | 26.87 | 43.53 | 16.66 | 147 | 0.03 | |||
| 97.55 | 107.37 | 9.82 | 67 | 0.05 | 0.06 | |||
| 120.80 | 122.05 | 1.25 | 104 | 0.13 | 0.14 | |||
| 132.96 | 147.77 | 14.81 | 56 | 0.14 | 0.05 | |||
| DSS7002 | 25.28 | 40.54 | 15.26 | 285 | 0.02 | |||
| 101.10 | 110.60 | 9.50 | 80 | 0.09 | 0.01 | |||
| 131.59 | 144.70 | 13.11 | 62 | 0.11 | 0.14 | |||
| 160.70 | 166.01 | 5.31 | 40 | 0.26 | 0.50 | |||
| 180.47 | 183.15 | 2.68 | 215 | 0.19 | 0.14 | |||
| 191.25 | 193.83 | 2.58 | 55 | 0.30 | 0.13 | |||
| DSS425007 | 127.50 | 137.00 | 9.50 | 130 | 0.01 | 0.02 | ||
| 152.37 | 153.52 | 1.15 | 132 | 0.06 | 0.10 | |||
| DSS482501 | 62.20 | 63.55 | 1.35 | 423 | ||||
| 70.37 | 75.53 | 5.16 | 44 | 0.03 | ||||
| 81.95 | 97.24 | 15.29 | 84 | 0.01 | ||||
| 167.72 | 179.13 | 11.41 | 43 | 0.10 | ||||
| 192.16 | 206.13 | 13.97 | 100 | 1.14 | 0.01 | |||
| 230.66 | 233.12 | 2.46 | 75 | 0.51 | ||||
| DSS487505 | 32.45 | 51.93 | 19.48 | 337 | ||||
| incl. | 38.53 | 47.16 | 8.63 | 715 | ||||
| 91.83 | 103.88 | 12.05 | 160 | 0.03 | ||||
| 138.57 | 150.57 | 12.00 | 42 | 0.04 | ||||
| 162.96 | 180.87 | 17.91 | 78 | 0.48 | 0.01 | |||
| 238.10 | 239.44 | 1.34 | 404 | 0.09 | 0.43 | |||
| 251.75 | 255.63 | 3.88 | 180 | 0.13 | 0.06 | |||
| DSS565013 | 143.00 | 201.50 | 58.50 | 52 | 0.04 | |||
| DSS582501 | 30.57 | 75.34 | 44.77 | 214 | 0.10 | |||
| 151.46 | 176.50 | 25.04 | 143 | 0.07 | 0.11 | |||
| incl. | 151.46 | 154.00 | 2.54 | 823 | 0.07 | |||
| incl. | 169.00 | 171.12 | 2.12 | 536 | 0.31 | 0.17 | ||
| DSS565012 | 139.80 | 149.00 | 9.20 | 147 | 0.15 | 0.01 | ||
| 198.90 | 212.62 | 13.72 | 104 | 0.53 | 0.01 | |||
| DSS502506 | 22.50 | 39.61 | 17.11 | 144 | 0.04 | 0.01 | ||
| 60.30 | 79.50 | 19.20 | 409 | 0.12 | 0.02 | |||
| 104.50 | 108.00 | 3.50 | 224 | 0.03 | ||||
| Notes: | ||||||||
| 1. | Location, altitude, azimuth, and dip of drill holes are provided in Table 2. | |||||||
| 2. | Drill intercept is core length, and grade is length weighted. Length of drill intercept is close to true width of mineralization as drilling is normal to both strike and dip of mineralized zones. | |||||||
| 3. | A cut-off grade of 20 g/t Ag is applied for calculation of length-weighted intercept. At times, samples lower than 20 g/t Ag may be included in the calculation of consolidation of mineralized intercepts. | |||||||
| Table 2 Summary of Drill Hole Specifications | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Hole_id | Easting | Northing | Altitude | Depth_m | Azimuth (°) | Dip (°) | Year | Note |
| DSS542505 | 235013.95 | 7856522.93 | 4101.23 | 155.15 | 60 | -45 | 2022 | Step-out |
| DSS6611 | 234876.13 | 7855780.03 | 4029.97 | 54.80 | 60 | -45 | 2022 | Resource Infill |
| DSS6610 | 234834.02 | 7855759.60 | 4029.10 | 311.00 | 60 | -55 | 2022 | Resource Infill |
| DSS542508 | 235115.65 | 7856584.35 | 4115.41 | 101.00 | 60 | -45 | 2022 | Step-out |
| DSS542506 | 235050.43 | 7856544.89 | 4106.53 | 143.10 | 60 | -45 | 2022 | Step-out |
| DSS305001 | 234533.65 | 7857614.73 | 4193.84 | 313.50 | 60 | -45 | 2022 | Step-out |
| DSS687501 | 234932.96 | 7855613.73 | 4059.32 | 239.00 | 60 | -45 | 2022 | Resource Infill |
| DSS2801 | 234497.09 | 7857755.74 | 4195.51 | 277.00 | 60 | -45 | 2022 | Step-out |
| DSS3001 | 234520.83 | 7857653.93 | 4196.73 | 271.50 | 60 | -45 | 2022 | Step-out |
| DSS542507 | 235083.23 | 7856563.86 | 4110.97 | 120.00 | 60 | -45 | 2022 | Resource Infill |
| DSS7401 | 235069.74 | 7855434.22 | 4105.28 | 302.00 | 60 | -45 | 2022 | Step-out |
| DSS542509 | 234871.60 | 7856443.59 | 4071.77 | 311.00 | 60 | -45 | 2022 | Step-out |
| DSS705001 | 234971.30 | 7855546.97 | 4073.83 | 290.00 | 60 | -45 | 2022 | Resource Infill |
| DSS545015 | 234933.62 | 7856448.62 | 4089.75 | 176.15 | 60 | -46 | 2022 | Resource Infill |
| DSS325002 | 234728.92 | 7857595.66 | 4121.93 | 166.50 | 60 | -45 | 2022 | Step-out |
| DSS7601 | 235096.94 | 7855333.22 | 4120.60 | 305.10 | 60 | -45 | 2022 | Step-out |
| DSS545017 | 235087.94 | 7856539.28 | 4113.05 | 104.15 | 60 | -45 | 2022 | Step-out |
| DSS5427 | 234843.00 | 7856453.00 | 4065.00 | 236.00 | 60 | -45 | 2022 | Resource Infill |
| DSS325004 | 234728.51 | 7857595.98 | 4121.91 | 163.50 | 353 | -45 | 2022 | Step-out |
| DSS345002 | 234625.68 | 7857426.77 | 4156.70 | 241.50 | 86 | -45 | 2022 | Step-out |
| DSS545016 | 235053.28 | 7856517.60 | 4106.76 | 122.15 | 60 | -45 | 2022 | Resource Infill |
| DSS325003 | 234728.77 | 7857595.69 | 4121.96 | 127.70 | 26 | -40 | 2022 | Step-out |
| DSS325001 | 234606.08 | 7857524.97 | 4169.90 | 265.50 | 60 | -45 | 2022 | Step-out |
| DSS702501 | 234960.11 | 7855571.78 | 4069.02 | 287.00 | 60 | -45 | 2022 | Resource Infill |
| DSS547506 | 235045.38 | 7856482.58 | 4106.77 | 128.10 | 60 | -45 | 2022 | Step-out |
| DSS547505 | 234947.02 | 7856428.11 | 4091.60 | 200.00 | 60 | -47 | 2022 | Step-out |
| DSS547510 | 235083.07 | 7856504.52 | 4113.08 | 113.00 | 60 | -45 | 2022 | Step-out |
| DSS547509 | 235062.62 | 7856495.23 | 4109.23 | 113.00 | 60 | -45 | 2022 | Step-out |
| DSS445006 | 234380.80 | 7856704.49 | 4087.14 | 283.50 | 60 | -45 | 2022 | Resource Infill |
| DSS305002 | 234599.64 | 7857655.86 | 4169.55 | 268.50 | 60 | -45 | 2022 | Step-out |
| DSS547504 | 234976.40 | 7856444.99 | 4097.29 | 164.00 | 60 | -47 | 2022 | Resource Infill |
| DSS562506 | 235043.05 | 7856427.53 | 4104.86 | 137.15 | 60 | -45 | 2022 | Step-out |
| DSS685002 | 234889.98 | 7855614.42 | 4053.31 | 302.20 | 60 | -50 | 2022 | Resource Infill |
| DSS5427 | 234845.65 | 7856458.52 | 4065.96 | 236.00 | 60 | -45 | 2022 | Resource Infill |
| DSS325005 | 234729.44 | 7857595.50 | 4121.97 | 202.50 | 76 | -45 | 2022 | Step-out |
| DSS562507 | 234991.97 | 7856403.39 | 4094.17 | 176.00 | 60 | -45 | 2022 | Resource Infill |
| DSS565010 | 235083.07 | 7856418.72 | 4109.58 | 122.15 | 60 | -45 | 2022 | Resource Infill |
| DSS565011 | 234936.06 | 7856331.99 | 4048.68 | 155.10 | 60 | -45 | 2022 | Step-out |
| DSS547507 | 234931.80 | 7856420.45 | 4086.76 | 176.00 | 60 | -47 | 2022 | Step-out |
| DSS6804 | 234824.09 | 7855635.07 | 4046.53 | 350.30 | 60 | -64 | 2022 | Step-out |
| DSS467504 | 234474.14 | 7856614.29 | 4102.10 | 313.50 | 60 | -45 | 2022 | Step-out |
| DSS547508 | 234910.32 | 7856405.62 | 4076.84 | 185.20 | 60 | -47 | 2022 | Step-out |
| DSS705002 | 234939.39 | 7855529.69 | 4069.23 | 326.00 | 60 | -45 | 2022 | Step-out |
| DSS482502 | 234545.80 | 7856602.74 | 4102.01 | 304.50 | 60 | -45 | 2022 | Step-out |
| DSS687502 | 234897.79 | 7855589.97 | 4057.06 | 302.10 | 60 | -48 | 2022 | Step-out |
| DSS7002 | 234906.43 | 7855567.15 | 4060.03 | 302.10 | 60 | -48 | 2022 | Step-out |
| DSS425007 | 234319.92 | 7856788.69 | 4091.58 | 304.50 | 60 | -45 | 2022 | Step-out |
| DSS482501 | 234486.53 | 7856566.64 | 4105.60 | 283.50 | 60 | -45 | 2022 | Step-out |
| DSS487505 | 234508.20 | 7856525.21 | 4099.59 | 307.50 | 60 | -45 | 2022 | infill |
| DSS565013 | 234877.94 | 7856302.62 | 4024.03 | 401.00 | 245 | -50 | 2022 | infill |
| DSS582501 | 235144.90 | 7856373.38 | 4112.02 | 242.10 | 240 | -45 | 2022 | Step-out |
| DSS565012 | 234878.63 | 7856301.87 | 4024.01 | 404.00 | 218 | -50 | 2022 | infill |
| DSS502506 | 234541.91 | 7856481.35 | 4089.37 | 313.50 | 60 | -46 | 2022 | infill |
| Notes: | ||||||||
| 1. | Drill collar coordinate system is WGS1984 UTM Zone 20S. | |||||||
| 2. | Coordinate of drill collar is picked with Real Time Kinematics (RTK) GPS. |
QUALITY ASSURANCE AND QUALITY CONTROL
All samples in respect of the exploration program at the Silver Sand Project, conducted by the Company and discussed in this news release, are shipped in securely-sealed bags by New Pacific staff in the Company's vehicles, directly from the field to ALS Global in Oruro, Bolivia for preparation, and ALS Global in Lima, Peru for geochemical analysis. ALS Global is an ISO 17025 accredited laboratory independent from New Pacific. All samples are first analyzed by a multi-element ICP package (ALS code ME-MS41) with ore grade over specified limits for silver, lead and zinc further analyzed using ALS code OG46. Further silver samples over specified limits are analyzed by gravimetric analysis (ALS code of GRA21). Certified reference materials, various types of blank samples and duplicate samples are inserted to normal drill core sample sequences prior to delivery to laboratory for preparation and analysis. The overall ratio of quality control samples in sample sequences is around twenty percent.
QUALIFIED PERSON
The scientific and technical information contained in this news release have 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"). The Qualified Person has verified the information disclosed herein, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties that could be expected to affect the reliability or confidence in the information discussed herein.
ABOUT NEW PACIFIC
New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company's flagship Project, the Silver Sand Silver Project, is waiting for a new Mineral Resource Estimate Update and a PEA by the end of 2022. Recently discovered Carangas Silver-Gold Project is undergoing a 40,000 m drill program. The third project, the Silverstrike Silver-Gold Project, commenced a 6,000 m discovery drill program in June 2022 and discovered a near surface broad gold mineralization by drill hole.
For further information, please contact:
New Pacific Metals Corp.
Phone: (604) 633-1368
U.S. & Canada toll-free: 1-877-631-0593
E-mail: invest@newpacificmetals.com
To receive company news by e-mail, please register using New Pacific's website at www.newpacificmetals.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in thisnews release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation ReformAct of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. Anystatements 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", "isexpected", "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 ofthese terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. Suchstatements include, but are not limited to: statements regarding anticipated exploration, drilling, development, construction, and otheractivities or achievements of the Company; timing of receipt of permits and regulatory approvals; timing and content of the PEA, and estimatesof the Company's revenues and capital expenditures.
Forward-looking statements or information are subjectto a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from thosereflected in the forward-looking statements or information, including, without limitation, risks relating to: global economic and socialimpact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, generaleconomic conditions, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest;dependence on management, uncertainties relating to the availability and costs of financing needed in the future, environmental risks,operations and political conditions, the regulatory environment in Bolivia and Canada, risks associated with community relations and corporatesocial responsibility, and other factors described under the heading "Risk Factors" in the Company's Annual Information Formfor the year ended June 30, 2021 and its other public filings.
This list is not exhaustive of the factors thatmay affect any of the Company's forward-looking statements or information.
The forward-looking statements are necessarilybased on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that,while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties andcontingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related tothe Company's ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations andworkforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracyand reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projectionsand forecasts; the stabilization of the political climate in Bolivia; the Company's ability to obtain and maintain social license at itsmineral properties; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels; thetimely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract with COMIBOLby the Plurinational Legislative Assembly of Bolivia; the ability of the Company's Bolivian partner to convert the exploration licensesat the Carangas Project to AMC; the ability to meet current and future obligations; the ability to obtain timely financing on reasonableterms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associatedwith the mining industry.
Although the forward-looking statements containedin this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual resultswill be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by thesecautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically requiredby applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-lookingstatements whether as a result of new information, future events or otherwise except as may be required by law. These forward-lookingstatements are made as of the date of this news release.
CAUTIONARY NOTE TO US INVESTORS
The technical and scientific information containedherein has been prepared in accordance with NI 43-101, which differs from the standards adopted by the U.S. Securities and Exchange Commission(the "SEC"). Accordingly, the technical and scientific information contained herein, including any estimates of mineral reservesand mineral resources, may not be comparable to similar information disclosed by U.S. companies subject to the disclosure requirementsof the SEC.
Additional information relating to the Company,including the Company's Annual Information form, can be obtained under the Company's profile on SEDAR at www.sedar.com, on EDGAR at www.sec.gov,and on the Company's website at www.newpacificmetals.com.
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SOURCE New Pacific Metals Corp.
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%CIK: 0001369085
CO: New Pacific Metals Corp.
CNW 05:00e 19-SEP-22