New Pacific Metals Corp (TSX:NUAG) has reported the assay results from the initial 21 boreholes of their Q1 2023 drilling project at the Carangas Silver-Gold Project in Bolivia. The first quarter of 2023 saw the successful completion of the drilling project, a follow-up to the previous year’s initiative at the Carangas site. Initially expected to involve 15,000 meters of diamond core drilling, the project was expanded to fill in and reach beyond areas drilled from 2021 to 2022. The operation kicked off as planned in January 2023, concluding with an impressive total of 17,623 meters drilled across 39 boreholes by the end of April. Each borehole intersected mineralization, with assay results from 21 holes available so far, and results from the remaining holes on the way.
For its premier mineral resource estimate, New Pacific teamed up with RPMGlobal Canada Limited, a consultancy providing technical services related to National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A qualified expert from RPMGlobal visited the site in March 2023, and with assay results from all boreholes soon to be available, the resource estimation is set to begin. The completed resource estimate is projected for release in Q3 2023.
The technical team is currently conducting in-depth surface geological mapping and sampling to sharpen drill targets beyond the previously drilled areas, focusing on the induced polarization (“IP”) chargeability anomalies. This interim mapping project is a strategic move in anticipation of the drilling project’s next phase, slated for H2 2023. The IP chargeability anomalies have shown a geophysical signature that aligns with the central valley’s drilled-off area, which is known to be rich in silver-gold mineralization—further solidifying the potential of the Carangas Project.
Highlights from the results are as follows:
DCAr0171 intersected a wide interval of silver mineralization measuring 205.6 m (76.8 m to 282.4 m) grading 123 g/t Ag, 0.44% Pb and 0.84% Zn, including 77.6 m (126.1 m to 203.7 m) grading 242 g/t Ag, 0.71% Pb and 1.30% Zn. This step-out hole was drilled through fluvial sediment cover to the southwest of the South Dome and implies that shallow silver mineralization remains open to the southwest, beyond the previously drilled West Dome-Central Valley-East Dome corridor.
DCAr0170 was drilled at the western limit of the Central Valley near the West Dome and intersected a wide interval of silver mineralization measuring 292.8 m starting near surface (9.2 m to 302 m) grading 58 g/t Ag, 0.39% Pb and 0.84% Zn, including 80.39 m (9.2 m to 89.59 m) grading 173 g/t Ag, 0.77% Pb and 1.08% Zn.
DCAr0154 intersected an interval of silver mineralization measuring 93.7 m (69.5 m to 163.2 m) grading 50 g/t Ag, 0.20% Pb and 0.53% Zn, including 13.05 m (72.4 m to 84.45 m) grading 280 g/t Ag, 0.36% Pb and 0.83% Zn. To depth, multiple intervals of gold mineralization were intersected, represented by 233.66 m (500.24 m to 733.9 m) grading 0.65 g/t Au and 107.1 m (774.24 m to 881.34 m) grading 0.84 g/t Au. This hole was drilled to test the eastern extension of gold mineralization at depth and the gold intervals in this hole indicate that gold mineralization remains open to the east.
DCAr0151 intersected an interval of silver mineralization measuring 66.76 m starting near surface (6.14 m to 72.9 m) grading 55 g/t Ag and 0.31% Pb, and a second silver interval of 3.63 m (266.13 m to 269.76 m) grading 215 g/t Ag, 0.45% Pb and 0.54% Zn. This hole was drilled in the upper portion of the East Dome.
|
Table 1 Summary of Drill Intercepts |
||||||||||
|
Hole_ID |
Depth_from |
Depth_to |
Interval_m |
Ag_g/t |
Au_g/t |
Pb_% |
Zn_% |
Cu_% |
AgEq_g/t |
|
|
DCAr0151 |
6.14 |
72.90 |
66.76 |
55 |
0.31 |
0.04 |
0.01 |
67 |
||
|
233.25 |
234.49 |
1.24 |
130 |
0.03 |
0.03 |
0.02 |
134 |
|||
|
266.13 |
269.76 |
3.63 |
217 |
0.45 |
0.54 |
0.06 |
254 |
|||
|
DCAr0152 |
6.00 |
47.78 |
41.78 |
42 |
0.40 |
0.25 |
0.01 |
63 |
||
|
69.25 |
125.28 |
56.03 |
21 |
0.38 |
0.94 |
63 |
||||
|
140.14 |
148.35 |
8.21 |
11 |
0.37 |
0.92 |
53 |
||||
|
177.30 |
213.11 |
35.81 |
9 |
0.03 |
0.44 |
0.82 |
0.03 |
54 |
||
|
242.70 |
302.00 |
59.30 |
16 |
0.18 |
0.21 |
0.58 |
0.03 |
57 |
||
|
311.78 |
315.92 |
4.14 |
1 |
0.97 |
0.01 |
0.07 |
73 |
|||
|
325.27 |
365.29 |
40.02 |
6 |
0.51 |
0.08 |
0.27 |
0.03 |
56 |
||
|
378.20 |
422.32 |
44.12 |
5 |
0.59 |
0.01 |
0.04 |
0.04 |
53 |
||
|
436.71 |
483.92 |
47.21 |
2 |
0.61 |
0.01 |
0.04 |
0.02 |
49 |
||
|
510.00 |
517.50 |
7.50 |
0 |
0.78 |
0.03 |
58 |
||||
|
523.50 |
531.90 |
8.40 |
6 |
1.15 |
0.01 |
0.04 |
0.09 |
99 |
||
|
576.10 |
597.17 |
21.07 |
1 |
0.01 |
0.03 |
0.82 |
31 |
|||
|
650.00 |
682.82 |
32.82 |
25 |
0.22 |
0.05 |
0.02 |
0.08 |
51 |
||
|
697.84 |
748.00 |
50.16 |
3 |
0.89 |
0.01 |
0.03 |
0.13 |
81 |
||
|
787.50 |
802.42 |
14.92 |
10 |
0.87 |
0.01 |
0.41 |
115 |
|||
|
DCAr0153 |
2.14 |
138.37 |
136.23 |
26 |
0.22 |
0.56 |
0.01 |
53 |
||
|
150.80 |
165.36 |
14.56 |
7 |
0.62 |
1.19 |
0.02 |
67 |
|||
|
191.45 |
356.50 |
165.05 |
6 |
0.27 |
0.34 |
0.80 |
0.01 |
63 |
||
|
380.74 |
386.00 |
5.26 |
6 |
0.61 |
0.01 |
0.07 |
0.06 |
59 |
||
|
409.00 |
422.00 |
13.00 |
19 |
0.14 |
0.15 |
0.28 |
0.15 |
58 |
||
|
440.70 |
464.00 |
23.30 |
8 |
0.40 |
0.02 |
0.04 |
0.16 |
55 |
||
|
482.22 |
610.15 |
127.93 |
5 |
0.59 |
0.02 |
0.03 |
0.04 |
53 |
||
|
659.52 |
720.90 |
61.38 |
6 |
0.30 |
0.04 |
0.21 |
0.17 |
53 |
||
|
755.70 |
833.67 |
77.97 |
4 |
0.08 |
0.07 |
0.51 |
0.02 |
31 |
||
|
DCAr0154 |
16.30 |
43.16 |
26.86 |
14 |
0.37 |
0.09 |
28 |
|||
|
69.50 |
163.20 |
93.70 |
50 |
0.20 |
0.53 |
0.02 |
75 |
|||
|
incl. |
72.40 |
85.45 |
13.05 |
280 |
0.36 |
0.83 |
0.01 |
319 |
||
|
209.50 |
219.25 |
9.75 |
6 |
0.09 |
0.97 |
0.60 |
61 |
|||
|
289.95 |
368.36 |
78.41 |
4 |
0.17 |
0.22 |
0.40 |
36 |
|||
|
378.10 |
408.00 |
29.90 |
5 |
0.16 |
0.17 |
0.33 |
32 |
|||
|
452.00 |
460.12 |
8.12 |
5 |
0.10 |
0.13 |
0.36 |
28 |
|||
|
500.24 |
733.90 |
233.66 |
8 |
0.65 |
0.01 |
0.13 |
59 |
|||
|
747.00 |
756.50 |
9.50 |
2 |
0.41 |
0.00 |
0.01 |
32 |
|||
|
774.24 |
881.34 |
107.10 |
5 |
0.84 |
0.01 |
0.01 |
65 |
|||
|
DCAr0155 |
1.84 |
137.25 |
135.41 |
11 |
0.37 |
0.37 |
0.01 |
35 |
||
|
DCAr0156 |
24.00 |
28.28 |
4.28 |
22 |
0.82 |
0.07 |
0.07 |
56 |
||
|
44.58 |
48.60 |
4.02 |
38 |
1.87 |
0.07 |
0.01 |
97 |
|||
|
65.00 |
74.00 |
9.00 |
45 |
0.47 |
0.02 |
59 |
||||
|
81.37 |
88.10 |
6.73 |
25 |
0.61 |
0.02 |
0.01 |
44 |
|||
|
102.50 |
105.00 |
2.50 |
26 |
0.19 |
0.05 |
0.01 |
34 |
|||
|
150.85 |
173.50 |
22.65 |
4 |
0.48 |
0.12 |
0.01 |
23 |
|||
|
270.45 |
278.80 |
8.35 |
56 |
0.39 |
0.04 |
0.01 |
70 |
|||
|
DCAr0157 |
3.23 |
15.42 |
12.19 |
18 |
0.29 |
0.02 |
0.01 |
29 |
||
|
41.97 |
139.12 |
97.15 |
16 |
0.56 |
0.03 |
34 |
||||
|
159.50 |
172.32 |
12.82 |
1.01 |
1.34 |
0.01 |
76 |
||||
|
DCAr0158 |
125.00 |
129.50 |
4.50 |
31 |
0.14 |
0.50 |
0.01 |
52 |
||
|
172.45 |
187.38 |
14.93 |
27 |
0.21 |
0.30 |
0.01 |
44 |
|||
|
240.38 |
241.84 |
1.46 |
62 |
0.07 |
0.12 |
68 |
||||
|
273.50 |
275.00 |
1.50 |
57 |
0.15 |
0.15 |
0.06 |
72 |
|||
|
299.00 |
303.00 |
4.00 |
67 |
0.10 |
0.11 |
0.06 |
79 |
|||
|
DCAr0159 |
5.00 |
39.10 |
34.10 |
35 |
0.57 |
0.03 |
53 |
|||
|
DCAr0160 |
6.70 |
28.20 |
21.50 |
31 |
0.26 |
0.02 |
0.01 |
39 |
||
|
75.50 |
109.89 |
34.39 |
23 |
0.27 |
0.04 |
0.01 |
33 |
|||
|
125.00 |
152.00 |
27.00 |
19 |
0.36 |
1.32 |
0.02 |
77 |
|||
|
DCAr0161 |
6.90 |
57.90 |
51.00 |
59 |
0.16 |
0.05 |
0.01 |
67 |
||
|
153.50 |
155.00 |
1.50 |
116 |
0.09 |
0.06 |
0.04 |
125 |
|||
|
225.50 |
252.50 |
27.00 |
18 |
0.05 |
0.11 |
0.01 |
24 |
|||
|
DCAr0162 |
75.47 |
79.39 |
3.92 |
31 |
0.76 |
1.27 |
97 |
|||
|
97.20 |
125.35 |
28.15 |
31 |
0.21 |
0.65 |
0.02 |
61 |
|||
|
136.27 |
154.20 |
17.93 |
9 |
0.31 |
0.78 |
0.05 |
50 |
|||
|
207.50 |
225.00 |
17.50 |
5 |
0.04 |
0.47 |
0.54 |
39 |
|||
|
287.10 |
304.31 |
17.21 |
7 |
0.18 |
0.53 |
0.72 |
0.02 |
62 |
||
|
321.22 |
329.88 |
8.66 |
3 |
0.08 |
0.40 |
0.96 |
53 |
|||
|
392.87 |
399.50 |
6.63 |
18 |
0.56 |
0.13 |
0.19 |
0.08 |
77 |
||
|
427.45 |
600.35 |
172.90 |
14 |
0.97 |
0.06 |
0.02 |
0.09 |
94 |
||
|
631.12 |
645.17 |
14.05 |
6 |
0.81 |
0.01 |
0.02 |
0.06 |
70 |
||
|
658.20 |
663.95 |
5.75 |
0 |
1.29 |
0.01 |
93 |
||||
|
673.67 |
717.87 |
44.20 |
2 |
1.08 |
0.00 |
0.01 |
0.05 |
85 |
||
|
734.00 |
754.50 |
20.50 |
2 |
0.71 |
0.01 |
0.01 |
0.03 |
57 |
||
|
796.40 |
819.70 |
23.30 |
1 |
0.84 |
0.03 |
0.02 |
63 |
|||
|
DCAr0163 |
5.60 |
59.50 |
53.90 |
22 |
0.46 |
0.05 |
0.01 |
38 |
||
|
70.00 |
197.25 |
127.25 |
37 |
0.63 |
0.12 |
0.01 |
60 |
|||
|
incl. |
137.40 |
149.30 |
11.90 |
123 |
0.82 |
0.24 |
0.01 |
156 |
||
|
incl. |
179.90 |
195.90 |
16.00 |
198 |
0.55 |
0.23 |
0.01 |
222 |
||
|
DCAr0164 |
7.50 |
19.50 |
12.00 |
14 |
0.13 |
0.22 |
25 |
|||
|
77.65 |
164.60 |
86.95 |
12 |
0.14 |
0.48 |
0.02 |
34 |
|||
|
187.00 |
252.97 |
65.97 |
4 |
0.03 |
0.31 |
0.48 |
31 |
|||
|
271.90 |
308.60 |
36.70 |
5 |
0.15 |
0.44 |
0.74 |
0.01 |
54 |
||
|
373.80 |
406.63 |
32.83 |
6 |
0.07 |
0.12 |
0.48 |
0.02 |
33 |
||
|
423.40 |
628.10 |
204.70 |
8 |
0.64 |
0.03 |
0.08 |
0.04 |
61 |
||
|
683.50 |
713.75 |
30.25 |
2 |
0.61 |
0.01 |
0.02 |
0.05 |
52 |
||
|
767.00 |
821.24 |
54.24 |
6 |
1.61 |
0.00 |
0.01 |
0.14 |
135 |
||
|
DCAr0165 |
72.27 |
144.80 |
72.53 |
21 |
0.21 |
0.76 |
53 |
|||
|
170.20 |
180.70 |
10.50 |
7 |
0.05 |
0.45 |
0.01 |
24 |
|||
|
235.56 |
263.40 |
27.84 |
6 |
0.30 |
0.81 |
42 |
||||
|
DCAr0166 |
1.00 |
53.10 |
52.10 |
13 |
0.25 |
0.27 |
30 |
|||
|
65.00 |
69.00 |
4.00 |
56 |
0.18 |
0.55 |
80 |
||||
|
88.00 |
146.90 |
58.90 |
19 |
0.26 |
0.75 |
53 |
||||
|
162.01 |
236.80 |
74.79 |
10 |
0.03 |
0.29 |
0.50 |
0.01 |
38 |
||
|
251.50 |
314.87 |
63.37 |
6 |
0.16 |
0.53 |
0.96 |
0.01 |
67 |
||
|
330.78 |
347.08 |
16.30 |
4 |
0.02 |
0.22 |
0.48 |
0.05 |
33 |
||
|
390.77 |
414.50 |
23.73 |
3 |
0.22 |
0.08 |
0.18 |
0.04 |
31 |
||
|
419.00 |
428.00 |
9.00 |
1 |
0.61 |
0.00 |
0.03 |
0.01 |
47 |
||
|
451.90 |
466.57 |
14.67 |
2 |
1.05 |
0.09 |
0.27 |
0.03 |
92 |
||
|
476.70 |
485.65 |
8.95 |
10 |
2.54 |
0.05 |
0.07 |
0.04 |
199 |
||
|
511.70 |
515.56 |
3.86 |
14 |
1.49 |
0.03 |
0.03 |
0.14 |
136 |
||
|
611.50 |
620.90 |
9.40 |
7 |
0.15 |
0.03 |
0.76 |
0.06 |
50 |
||
|
700.70 |
709.15 |
8.45 |
1 |
0.10 |
0.01 |
1.01 |
0.01 |
43 |
||
|
774.75 |
785.80 |
11.05 |
4 |
0.72 |
0.00 |
0.03 |
0.18 |
75 |
||
|
791.20 |
798.10 |
6.90 |
2 |
0.32 |
0.00 |
0.02 |
0.24 |
51 |
||
|
DCAr0167 |
5.00 |
73.30 |
68.30 |
25 |
0.56 |
0.06 |
44 |
|||
|
98.30 |
119.00 |
20.70 |
10 |
0.66 |
0.11 |
33 |
||||
|
140.00 |
143.91 |
3.91 |
9 |
1.16 |
0.09 |
0.01 |
46 |
|||
|
DCAr0168 |
62.75 |
104.80 |
42.05 |
18 |
0.30 |
0.58 |
47 |
|||
|
120.80 |
138.60 |
17.80 |
33 |
0.16 |
0.61 |
59 |
||||
|
175.87 |
186.00 |
10.13 |
19 |
0.12 |
0.35 |
34 |
||||
|
197.30 |
219.44 |
22.14 |
8 |
0.36 |
0.71 |
0.01 |
44 |
|||
|
237.70 |
269.80 |
32.10 |
28 |
0.97 |
1.37 |
0.08 |
109 |
|||
|
DCAr0169 |
14.80 |
74.67 |
59.87 |
31 |
0.82 |
0.06 |
57 |
|||
|
DCAr0170 |
9.20 |
302.00 |
292.80 |
58 |
0.39 |
0.84 |
0.02 |
99 |
||
|
incl. |
9.20 |
89.59 |
80.39 |
173 |
0.77 |
1.08 |
0.05 |
236 |
||
|
DCAr0171 |
76.80 |
282.40 |
205.60 |
123 |
0.02 |
0.44 |
0.84 |
0.02 |
167 |
|
|
incl. |
126.10 |
203.70 |
77.60 |
242 |
0.01 |
0.71 |
1.30 |
0.03 |
310 |
|
|
311.35 |
406.35 |
95.00 |
9 |
0.36 |
0.92 |
0.02 |
57 |
|||
|
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 US$22.50/oz for Ag, US$0.95/lb for Pb, US$1.10/lb for Zn, US$3.40/lb for Cu, and US$1,600/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. |
|
Table 2 Summary of Drill Holes of Discovery Drill Program of Carangas Project |
|||||||
|
Hole_id |
Easting |
Northing |
Altitude |
Depth_m |
Azimuth (°) |
Dip (°) |
Target |
|
DCAr0151 |
539617.75 |
7905215.10 |
4013.81 |
300.00 |
20 |
-45 |
ED |
|
DCAr0152 |
539311.30 |
7905343.30 |
3911.21 |
821.00 |
252 |
-75 |
CV |
|
DCAr0153 |
539324.98 |
7905302.65 |
3917.54 |
836.00 |
252 |
-67 |
CV |
|
DCAr0154 |
539487.76 |
7905479.04 |
3921.69 |
900.00 |
249 |
-66 |
CV |
|
DCAr0155 |
538797.69 |
7905700.86 |
4063.33 |
140.00 |
120 |
-40 |
WD |
|
DCAr0156 |
539684.64 |
7905129.41 |
4036.00 |
302.00 |
20 |
-45 |
ED |
|
DCAr0157 |
538799.21 |
7905701.13 |
4063.35 |
206.00 |
60 |
-40 |
WD |
|
DCAr0158 |
539517.04 |
7905105.86 |
3969.15 |
323.00 |
20 |
-45 |
ED |
|
DCAr0159 |
538841.19 |
7905736.01 |
4068.83 |
152.00 |
7 |
-40 |
WD |
|
DCAr0160 |
538841.30 |
7905734.87 |
4068.79 |
152.00 |
156 |
-40 |
WD |
|
DCAr0161 |
539663.65 |
7905221.91 |
4023.46 |
293.00 |
20 |
-45 |
ED |
|
DCAr0162 |
539403.94 |
7905455.30 |
3924.08 |
848.00 |
252 |
-67 |
CV |
|
DCAr0163 |
538842.50 |
7905735.25 |
4068.85 |
200.00 |
110 |
-40 |
WD |
|
DCAr0164 |
539412.79 |
7905417.33 |
3930.76 |
821.00 |
252 |
-70 |
CV |
|
DCAr0165 |
539247.76 |
7905094.61 |
3908.82 |
302.00 |
20 |
-45 |
ED |
|
DCAr0166 |
539400.87 |
7905371.39 |
3935.30 |
848.00 |
247 |
-75 |
CV |
|
DCAr0167 |
538843.04 |
7905735.85 |
4068.79 |
152.00 |
81 |
-40 |
WD |
|
DCAr0168 |
539276.07 |
7905026.84 |
3910.53 |
302.00 |
20 |
-45 |
ED |
|
DCAr0169 |
538841.68 |
7905740.16 |
4068.79 |
152.00 |
50 |
-40 |
WD |
|
DCAr0170 |
538946.49 |
7905288.56 |
3905.72 |
302.00 |
20 |
-45 |
WD |
|
DCAr0171 |
538631.00 |
7905028.49 |
3905.09 |
420.00 |
48 |
-59 |
SD |
|
Note: |
1. Drill collar coordinate system is WGS1984 UTM Zone 19S |
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2. Coordinate of drill collar is picked with Real Time Kinematics (RTK) GPS except hole DCAr0036 which is by handheld GPS |
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|
3. CV – Central Valley; WD – West Dome; ED – East Dome; SD – South Dome |
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