Market Herald logo

Subscribe

Be the first with the news that moves the market

New Pacific Metals’ (TSX:NUAG) Founder and CEO, Dr Rui Feng, spoke to The Market Herald’s Brieanna McCutcheon at PDAC 2022 about the start of drilling at its Silverstrike Project in Bolivia.

The company is testing broad gold zones through a planned 6,000 m program. A standout channel chip sample in the area came in at 4.7 m, grading 14.76 g/t gold and 27 g/t silver.

An additional company highlight includes a recent intercept from ongoing exploration at its Carangas Project of 596.7 m grading 1.3 g/t gold from a new discovery. Four drill rigs are on-site testing a shallow silver horizon and gold at depth over a 40,000 m program.

Challenges that are top of mind for New Pacific include educating the international investment community about Bolivia’s underexplored mineral riches, as well as minimizing uncertainty and stigma about its politically unstable past.

The company’s most significant opportunity is exploring Bolivia’s gold and copper resources found underneath the silver and tin the country is known for.

Feng is bullish on metals into the future but highlights how New Pacific is financially conservative with US$36M in cash on hand, which is enough to continue its programs for two years even in a down market.

More From The Market Herald

" PDAC 2022: The Real New Age of Metals and Mining

In its 90-year history, the Prospectors & Developers Association of Canada (PDAC) has brought together the most important players in one of the
The Market Herald Video

" And that’s a wrap: The Market Herald at PDAC 2022

The world’s premier mineral exploration and mining convention, the Prospectors and Developers Association of Canada (PDAC) welcomed a massive crowd of more than
The Market Herald Video

" The Market Herald celebrates its gala launch at PDAC 2022

It was a balmy night on June 14th, 2022 in Toronto when The Market Herald Canada officially introduced itself to the country’s capital
The Market Herald Video

" Asante Gold (CSE:ASE) soon to pour gold at Bibiani Gold mine

Asante Gold (CSE:ASE) is preparing to pour gold in the next two to three weeks at its Bibiani Gold mine in Ghana.