New Pacific Metals Corp. (TSX: NUAG) has obtained high-grade assay results of the first 21 drill holes from its 2023 Q1 drill programme at its Carangas Silver-Gold Project, Oruro Department, Bolivia.
The 2023 Q1 drilling was a continuation of the 2022 drilling campaign at the Carangas Project. It was originally budgeted as 15,000m of diamond core drilling, infilling areas drilled in 2021-2022 and stepping out beyond these previously drilled areas.
This drilling programme started on schedule in January 2023 and was expanded based on encouraging results and is now complete. A total of 17,623m in 39 holes was drilled up to the end of April 2023. Each of the 39 holes intersected mineralization. To date, assay results of the first 21 holes have been received with the remaining holes pending.
DCAr0171 intersected a wide interval of silver mineralization measuring 205.6m (76.8m to 282.4m) grading 123 g/t Ag, 0.44% Pb and 0.84% Zn, including 77.6m (126.1m to 203.7m) grading 242g/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 292.8m starting near surface (9.2m to 302m) grading 58g/t Ag, 0.39% Pb and 0.84% Zn, including 80.39m (9.2m to 89.59m) grading 173g/t Ag, 0.77% Pb and 1.08% Zn.
- DCAr0154 intersected an interval of silver mineralization measuring 93.7m (69.5m to 163.2m) grading 50g/t Ag, 0.20% Pb and 0.53% Zn, including 13.05m (72.4m to 84.45m) grading 280g/t Ag, 0.36% Pb and 0.83% Zn. To depth, multiple intervals of gold mineralization were intersected, represented by 233.66m (500.24m to 733.9m) grading 0.65g/t Au and 107.1m (774.24m to 881.34m) grading 0.84g/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 66.76m starting near surface (6.14m to 72.9m) grading 55g/t Ag and 0.31% Pb, and a second silver interval of 3.63m (266.13m to 269.76m) grading 215g/t Ag, 0.45% Pb and 0.54% Zn. This hole was drilled in the upper portion of the East Dome.
A resource estimation will commence once assay results of all drill holes are available and the completed resource estimate is expected in the third quarter of 2023.
The project technical team is currently conducting detailed surface geological mapping and sampling to refine drill targets over the induced polarization (IP) chargeability anomalies beyond the previously drilled areas.
This mapping programme is planned for the interim period before the expected resumption of drilling activities in the second half of 2023. These IP chargeability anomalies demonstrate a geophysical signature similar to the one observed in the drilled-off area of the Central Valley which hosts the bulk silver-gold mineralization discovered at the Carangas Project.
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