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6-K

NEW PACIFIC METALS CORP (NEWP)

6-K 2023-07-07 For: 2023-07-06
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Added on April 09, 2026

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

July 6, 2023

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 ]

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: July 6, 2023 NEW PACIFIC METALS CORP.
/s/ Jalen Yuan
Jalen Yuan
Chief Financial Officer

EXHIBIT INDEX

EXHIBIT DESCRIPTION OF EXHIBIT
99.1 News<br> Release dated July 6, 2023

Exhibit 99.1

****

New Pacific Intersects 183 Meters Grading 92 GramsPer Tonne Silver in Step-out Drilling at the Carangas Project, Bolivia

VANCOUVER, BC, July 6, 2023 /CNW/ - New Pacific Metals Corp. ("New Pacific" or the "Company") (TSX: NUAG) (NYSE American: NEWP), together with its local Bolivian partner, reports assay results of the final 18 drill holes from its 2023 Q1 drill program at its Carangas Silver-Gold Project, Oruro Department, Bolivia (the "Carangas Project" or the "Project"). Assay results of all 39 holes totaling 17,623 meters have now been received and released. Detailed results and drill hole specifications are listed in Tables 1 and 2, and Figure 1.

HIGHLIGHTS OF DRILLRESULTS (ALL INTERVALS ARE CORE LENGTHS)

Hole DCAr0184 intersected 92 g/t Ag, 0.25% Pb and 0.46% Zn over a 183.2 m interval (106.8 m to 290 m), including 272 g/t Ag, 0.50% Pb and 0.89% Zn over a 14.5 m interval (123.5 m to 138 m) and 173 g/t Ag, 0.33% Pb and 0.43% Zn over a 18.65 m interval (149.45 m to 168.1 m). Hole DCAr0184 was a fifty meter step-out from hole DCAr0171 which intercepted 123 g/t Ag over a 205.6 m interval (see News Release of May 30, 2023). These two holes were drilled into areas without any surface showings or old diggings, yielding a new target area for expansion drilling.

Hole DCAr0175 intersected 55 g/t Ag, 0.26% Pb and 0.47% Zn over a 298.04 m interval (5.5 m to 303.54 m), including 235 g/t Ag, 0.65% Pb and 1.30% Zn over a 41.66 m interval (94.6 m to 136.26 m).

Hole DCAr0182 intersected 72 g/t Ag, 0.30% Pb and 0.59% Zn over a 182 m interval (66.5 m to 248.5 m), including 132 g/t Ag, 0.49% Pb and 0.93% Zn over a 64.5 m interval (116.5 m to 181 m).

Hole DCAr0173 intersected 51 g/t Ag, 0.57% Pb and 1.37% Zn over a 72.7 m interval (29 m to 101.7 m).

Hole DCAr0189 intersected 90 g/t Ag, 1.14% Pb and 1.22% Zn over a 45.81 m interval (42.26 m to 88.07 m), 71 g/t Ag, 0.32% Pb and 0.75% Zn over a 25.66 m interval (105.24 m to 130.9 m) and 0.95 g/t Au and 9 g/t Ag over a 184.5 m interval (532 m to 716.5 m), including 11.21 g/t Au, 94 g/t Ag and 0.17% Cu over a 7.5 m interval (651.5 m to 659 m).  This hole shows broad silver mineralization stacked above broad gold mineralization near the north end of the Central Valley. Drill results from this hole indicate that deep gold mineralization remains open to the northeast in the Central Valley.

The assay results of these final holes continue to demonstrate a significant shallow horizon of silver mineralization that has been extended to the southwest of the previously drilled area. Drill results from the step-out hole to the northeast in the Central Valley demonstrate a broad shallow silver zone stacked over broad gold mineralization, and gold remains open to the northeast.

PROGRESS OF INAUGURALMINERAL RESOURCE ESTIMATE

The Company is working closely with RPMGlobal to complete a technical report on the mineral resource estimate of the Carangas Project in accordance with the National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").  The technical work is progressing well and on schedule with the outcome of the mineral resource estimate expected by August 2023.

Figure 1 Simplifiedgeology and drill plan map of the Carangas Project

Table 1    Summary of drill intercepts
Hole_ID Depth_to Interval_m Ag_g/t Au_g/t Pb_% Zn_% Cu_% AgEq_g/t
DCAr0172 42.10 22.62 17 0.27 0.18 0.01 32
141.87 60.74 36 0.33 0.84 74
153.43 2.56 30 0.29 0.64 0.17 77
228.50 15.45 20 0.12 0.48 1.09 0.01 80
252.00 7.00 26 0.25 1.07 1.31 0.03 122
387.25 123.25 4 0.15 0.36 0.78 0.01 53
420.70 19.00 11 0.46 0.44 0.68 0.06 85
709.20 216.57 5 0.12 0.37 1.05 0.01 61
DCAr0173 101.70 72.70 51 0.57 1.37 0.02 115
207.18 94.54 10 0.34 0.90 0.03 53
DCAr0174 210.45 4.15 7 0.66 1.19 0.01 67
233.00 15.45 8 0.41 1.00 0.02 55
318.00 70.70 4 0.37 0.90 46
355.32 25.96 7 0.24 0.95 0.04 50
DCAr0175 303.54 298.04 55 0.26 0.47 0.01 79
incl. 136.26 41.66 235 0.65 1.30 0.02 300
DCAr0176 252.00 242.00 14 0.26 0.75 0.03 49
DCAr0177 70.60 64.60 24 0.39 0.78 0.01 62
162.40 75.73 13 0.33 1.28 0.02 67
213.60 17.50 15 0.36 0.70 0.01 55
DCAr0178 236.43 1.20 54 0.17 0.34 70
329.70 1.21 29 0.24 0.42 0.06 56
DCAr0179 23.35 9.45 39 0.18 0.18 50
35.62 5.17 53 0.04 0.87 83
132.13 36.69 25 0.17 0.51 47
229.75 77.75 16 0.02 0.29 0.51 0.01 43
425.10 1.40 11 1.93 0.01 0.21 155
523.70 13.00 3 1.41 0.03 0.16 0.02 109
537.20 6.40 14 0.81 0.09 0.13 0.15 79
606.20 13.90 26 0.47 0.06 0.03 0.15 62
802.50 133.30 5 0.77 0.08 0.22 0.06 69
DCAr0180 118.90 5.28 59 0.08 0.10 0.01 66
131.70 1.22 83 0.08 0.14 90
212.25 41.87 26 0.20 0.40 0.01 46
247.73 25.53 20 0.43 0.83 0.01 61
270.90 4.05 31 0.19 0.45 0.03 54
346.80 2.63 19 0.70 1.05 0.03 77
DCAr0181 119.00 117.46 31 0.34 0.59 0.01 61
incl. 36.80 24.80 83 0.88 1.13 0.02 148
151.00 8.58 30 0.12 0.34 45
185.40 4.50 21 0.23 0.61 0.01 49
206.00 4.50 62 0.11 0.29 0.01 77
220.50 2.70 65 0.44 1.31 0.01 123
DCA0182 60.50 44.79 30 0.05 0.12 0.01 36
248.50 182.00 72 0.30 0.59 0.01 101
incl. 181.00 64.50 132 0.49 0.93 0.01 179
278.75 24.25 10 0.50 0.88 0.01 55
DCAr0183 276.60 17.35 36 0.15 0.40 0.01 54
304.55 4.30 20 0.07 0.03 0.08 31
317.57 1.17 401 0.30 0.61 0.03 433
DCAr0184 87.30 1.30 332 0.16 0.29 0.01 347
99.30 3.00 95 0.10 0.20 0.01 104
290.00 183.20 92 0.25 0.46 0.01 117
incl. 138.00 14.50 272 0.50 0.89 0.03 320
incl. 168.10 18.65 173 0.33 0.43 0.02 198
311.50 10.30 40 0.30 0.54 0.01 68
338.30 5.80 27 0.32 0.89 0.08 75
DCAr0185 116.94 1.06 32 0.16 0.43 0.01 51
156.35 1.50 57 0.05 0.10 0.01 63
187.75 1.50 56 0.08 0.16 0.00 64
228.36 15.98 51 0.11 0.24 0.01 64
238.30 1.30 187 0.38 0.67 0.06 226
249.60 4.20 40 0.02 0.07 0.06 49
276.70 1.50 33 0.07 0.13 0.01 41
328.60 1.30 41 0.33 0.47 0.09 76
DCAr0186 17.00 17.00 36 0.34 0.03 0.01 48
311.80 282.80 34 0.47 0.99 0.01 83
360.50 5.12 13 0.71 1.76 0.01 94
DCAr0187 186.03 1.48 84 0.28 0.55 0.01 111
205.20 2.90 26 0.02 0.03 0.09 36
259.12 1.39 49 0.04 0.03 0.03 54
324.70 1.30 15 0.43 0.95 0.01 61
DCAr0188 48.23 13.23 45 0.12 0.21 0.00 56
69.10 7.20 32 0.10 0.23 0.00 43
310.15 179.35 24 0.24 0.49 0.01 49
DCAr0189 88.07 45.81 90 1.14 1.22 0.03 167
130.90 25.66 71 0.32 0.75 0.05 110
156.00 2.80 66 0.12 0.09 73
169.80 4.80 48 0.29 0.28 0.02 68
178.07 1.15 112 0.27 0.19 126
212.39 9.49 205 0.25 0.33 0.47 248
460.66 1.36 4 3.36 0.03 0.14 0.06 254
716.50 184.50 9 0.95 0.03 0.04 0.02 81
incl. 659.00 7.50 94 11.21 0.17 910
797.50 42.00 4 0.95 0.10 0.02 76
876.10 1.50 1 1.65 0.08 0.05 122
Notes:
1. Drill location, altitude, azimuth, and dip of drill holes are provided in Table 2
2. Drill intercept is core length, and grade is length weighted. True width of mineralization is unknown due to early stage of exploration without adequate drill data.
3. Calculation of silver equivalent ("AgEq") is based on the long-term median of the August 2021 Street Consensus Commodity Price Forecasts, which are US22.50/oz for Ag, US0.95/lb for Pb, US1.10/lb for Zn, US3.40/lb for Cu, and US1,600/oz for Au. The formula used for the AgEq calculation is as follows: AgEq = Ag g/t + Pb g/t * 0.0029 + Zn g/t * 0.00335 + Cu g/t * 0.01036 + Au g/t * 71.1111. This calculation assumes 100% recovery.
4. A cut-off of 20 g/t AgEq is applied to calculate the length-weighted intercept. At times, samples lower than 20 g/t AgEq may be included in the calculation of consolidation of mineralized intercepts.

All values are in US Dollars.

Table 2 Summary of drill hole details
Hole_id Easting Northing Altitude Depth_m Azimuth (°) Dip (°) Target
DCAr0172 539349.02 7905238.86 3929.60 850.00 253 -66 ED
DCAr0173 538924.50 7905230.73 3905.50 302.00 20 -45 WD
DCAr0174 539186.31 7905072.00 3906.83 401.00 20 -62 CV
DCAr0175 538687.16 7905137.40 3906.07 452.00 46 -57 SW
DCAr0176 538899.47 7905162.68 3905.34 252.00 20 -55 SD
DCAr0177 539389.94 7905338.18 3928.27 801.00 244 -72 ED
DCAr0178 538487.32 7905011.21 3906.36 401.00 45 -50 SW
DCAr0179 539463.00 7905396.00 3945.00 851.00 255 -76 ED
DCAr0180 538604.00 7905129.00 3900.00 401.00 44 -57 SW
DCAr0181 538906.00 7905327.00 3923.00 251.00 20 -45 WD
DCAr0182 538714.00 7905100.00 3906.00 401.00 48 -63 SW
DCAr0183 538414.00 7905294.00 3906.00 401.00 50 -50 SW
DCAr0184 538600.00 7905062.00 3906.00 401.00 47 -55 SW
DCAr0185 538532.00 7905197.00 3906.00 401.00 45 -50 SW
DCAr0186 538838.00 7905141.00 3922.00 431.00 20 -45 SD
DCAr0187 538599.00 7905002.00 3905.00 431.00 48 -68 SW
DCAr0188 538852.00 7905033.00 3911.00 450.00 20 -52 SD
DCAr0189 539302.00 7905627.00 3908.00 930.00 203 -73 CV
Note: 1. Drill collar coordinate system is WGS1984 UTM Zone 19S
2. Coordinate of drill collar is picked with Real Time Kinematics (RTK) GPS
3. CV - Central Valley; WD - West Dome; ED - East Dome; SW - Southwest step-out

QUALITY ASSURANCE AND QUALITY CONTROL

The Company maintains tight sample security and quality assurance and quality control for all aspects of its exploration program at the Carangas Project. Drill core is logged, photographed and split on-site by the company and stored under secure conditions until being shipped in security-sealed bags by New Pacific staff in Company vehicles, directly from the project 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 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). Gold is assayed first by ICP and then by fire assay with AAS finish (ALS code of Au-AA25). Certified reference materials, various types of blank samples and duplicate samples are inserted into normal drill core sample sequences prior to delivery to the 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 has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration (the "Qualified Person"), who is a qualified person for the purposes of NI 43-101. The Qualified Person has verified the information disclosed herein using standard verification processes, including the sampling, preparation, security and analytical procedures underlying such information, and is not aware of any significant risks and uncertainties or any limitations on the verification process 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, has released its inaugural preliminary economic assessment (the "PEA") results in January 2023.  The PEA study shows a post-tax NPV (5% discount) of US$726 million with an IRR of 39%, underpinned by a total silver production of 171 million ounces over 14 years of mine life. At the recently discovered Carangas Silver-Gold Project, a resource drilling program of more than 80,000 meters in 189 holes was completed between 2021 to 2023. The third project, the Silverstrike Silver-Gold Project, had a 6,000 meter discovery drill program in June 2022.

For further information,please contact:

Andrew Williams, President

New Pacific Metals Corp.

Phone: (604) 633-1368 Ext. 236

U.S. & Canada toll-free: 1-877-631-0593

E-mail: invest@newpacificmetals.com

For additional information and to receive company news by e-mail, please register using New Pacific's website at www.newpacificmetals.com.

CAUTIONARY NOTE REGARDING RESULTS OFPRELIMINARY ECONOMIC ASSESSMENT

The PEA study resultsof the Silver Sand Project are preliminary in nature and are intended to provide an initial assessment of the project's economic potentialand development options. The PEA mine schedule and economic assessment includes numerous assumptions and is based on both indicated andinferred mineral resources. Inferred resources are considered too speculative geologically to have the economic considerations appliedto them that would enable them to be categorized as mineral reserves, and there is no certainty that the project economic assessmentsdescribed herein will be achieved or that the PEA results will be realized. The estimate of mineral resources may be materially affectedby geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Mineral resources are not mineralreserves and do not have demonstrated economic viability. Additional exploration will be required to potentially upgrade the classificationof the inferred mineral resources to be considered in future advanced studies. AMC Mining Consultants (Canada) Ltd. (mineral resource,mining, infrastructure and financial analysis) was contracted to conduct the PEA in cooperation with Halyard Inc. (metallurgy and processing),and NewFields Canada Mining & Environment ULC (tailings, water and waste management). The qualified persons (as defined in NI 43-101)for the PEA are Mr. Wayne Rogers P.Eng and Mr. Mo Molavi P.Eng both Principal Mining Engineers with AMC Mining Consultants (Canada) Ltd,Mr. Andy Holloway P.Eng, Process Director with Halyard Inc., and Mr. Leon Botham P.Eng., Principal Engineer with NewFields Canada Mining& Environment ULC. This is in addition to Ms. Dinara Nussipakynova, P.Geo., Principal Geologist with AMC Consultants (Canada) Ltd.who estimated the mineral resources. All such qualified persons have reviewed the technical content of the January 9, 2023, news releasefor the Silver Sand Project deposit and have approved its dissemination. The PEA is based on the updated mineral resource estimate inrespect of the Silver Sand Project, which was reported on November 28, 2022 and has an effective date October 31, 2022. The cut-off appliedfor reporting the pit-constrained mineral resources is 30 g/t silver. Assumptions made to derive a cut-off grade included mining costs,processing costs and recoveries and were obtained from comparable industry situations. The model is depleted for historical mining activities.Mineral resources are constrained by optimized pit shells at a silver price of US$22.50 per ounce, silver metallurgical recovery of 91%,silver payability of 99%, open pit mining cost of US$2.6/t, processing cost of US$16/t, G&A cost of US$2/t, and slope angle of 44-47degrees. Key assumptions used for pit optimization for the PEA mining pit include silver price of US$22.50 per ounce, silver metallurgicalrecovery of 91%, silver payability of 99%, open pit mining cost of US$2.6/t, incremental mining cost of US$0.04/t (per 10 m bench), processingcost of US$16/t, tailing storage facility operating cost of US$0.7/t, G&A cost of US$2/t, royalty of 6.00%, mining recovery of 92%,dilution of 8%, and cut-off grade of 30 g/t silver.

CAUTIONARY NOTE REGARDING FORWARD-LOOKINGINFORMATION

Certain of the statementsand information in this news release constitute "forward-looking statements" within the meaning of the United States PrivateSecurities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincialsecurities 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", "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 negativeof any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.Such statements include, but are not limited to statements regarding: anticipated timing for the commencement and outcome of the inauguralmineral resource estimation for the Project; anticipated timing for the mapping program for the Project; anticipated exploration, drilling,development, construction, and other activities or achievements of the Company; timing of receipt of permits and regulatory approvals;estimates of the Company's revenues and capital expenditures; and other future plans, objectives or expectations of the Company.

Forward-lookingstatements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actualevents or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risksrelating to: global economic and social impact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation ofresources, reserves and mineralization, general economic 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 financingneeded in the future, environmental risks, operations and political conditions, the regulatory environment in Bolivia and Canada; risksassociated with community relations and corporate social responsibility, and other factors described under the heading "Risk Factors"in the Company's Annual Information Form for the year ended June 30, 2022 and its other public filings. This list is not exhaustiveof the factors that may affect any of the Company's forward-looking statements or information.

The forward-lookingstatements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the dateof this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitiveuncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, thoserelated to the Company's ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operationsand workforce; 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 atits mineral properties; the availability and cost of inputs; the price and market for outputs; foreign exchange rates; taxation levels;the timely receipt of necessary approvals or permits, including the ratification and approval of the Mining Production Contract withCOMIBOL by the Plurinational Legislative Assembly of Bolivia; the ability of the Company's Bolivian partner to convert the explorationlicenses at the Carangas Project to AMC; the ability to meet current and future obligations; the ability to obtain timely financing onreasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generallyassociated with the mining industry.

Although the forward-lookingstatements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurancethat actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release arequalified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specificallyrequired by 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

This news releasehas been prepared in accordance with the requirements of the securities laws in effect in Canada which differ from the requirements ofUnited States securities laws. The technical and scientific information contained herein 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 technicaland scientific information contained herein, including any estimates of mineral reserves and mineral resources, may not be comparableto similar information disclosed by U.S. companies subject to the disclosure requirements of the SEC.

Additional informationrelating 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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2023/06/c6511.html

%CIK: 0001369085

CO: New Pacific Metals Corp.

CNW 17:05e 06-JUL-23

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