New Pacific Metals advances a project near 'one of the largest silver deposits in the world'

685 Views
Published

[SPONSOR CONTENT]

New Pacific Metals appreciates Bolivia's rich mining history, noted Silvercorp Metals' vice-president Lon Shaver.

Last week Shaver spoke to Kitco at the Gold Forum Americas. Silvercorp Metals has just under a one-third stake in New Pacific Metals (TSX: NUAG).

New Pacific's goal is to discover and develop "world-class silver and gold deposits in Bolivia." It has three projects with the main focus being its Silver Sand asset, a large, pure-silver deposit that is amenable to an open pit and heap leach operation. A 2020 mineral resource estimate showed measured and indicated at 155.86 million ounces at 137 g/t silver. The inferred resource is 35.55 million oz at 112 g/t silver.

As of May the company has drilled 20,000 meters. An updated mineral resource estimate is due this fall and a preliminary economic assessment is due by the end of the year.

Bolivia is embracing the resource sector and business investment after years of left-leaning governments. Mining was responsible for 47% of the country's exports in 2020, notes the company in its investor presentation, adding that Bolivia has been under-explored over the last 20 years. The country has realized the importance of foreign investment and is seeking the technical expertise to grow its mining industry.

"It's significant because of the long mining history," said Shaver, noting that the Cerro Rico mine is not far from New Pacific's Silver Sand project. Cerro Rico is one of the largest silver deposits in the world, adds Shaver. "It's estimated to have produced over 2 billion ounces of silver."

"Mining remains a deeply ingrained in the in the country's culture, and the government is familiar with mining and supportive of mining projects "

Follow Michael McCrae on Twitter: @michaelmccrae (https://twitter.com/michaelmccrae)
Follow Kitco Mining on Twitter: @KitcoMining (https://twitter.com/KitcoMining)
Instagram: https://www.instagram.com/kitcomining/
LinkedIn: https://www.linkedin.com/company/kitco-mining
Facebook: https://www.facebook.com/KitcoMining/

0:30 - Lon, maybe explain what makes Bolivia so significant to mining?
1:00 - So, what is New Pacific focused on?
1:38 - Now the country has had its challenges? What’s it like working in the country?
2:50 - What’s your funding?
3:30 - Talk about the management team at New Pacific Metals.
4:05 - What's are the milestones over the next 12 months?
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

Subscribe to our channel to stay up to date on the latest insights moving the metals markets.

For more breaking news, visit http://www.kitco.com/

Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
StockTwits - https://stocktwits.com/kitconews

Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/


Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.

Category
Mining
Be the first to comment