The second hole, DSSk0002, intersected a broad interval of 223.52 m (from 8.62 m to 232.14 m) grading 0.97 grams per tonne ("g/t") gold ("Au") and 4 g/t silver ("Ag"), including an interval of 86.13 m (from 8.62 m to 94.75 m) grading 2.18 g/t Au and 7 g/t Ag, which also included a higher grade sub-interval of 3.98 m (from 68.6 m to 72.58 m) grading 29.75 g/t Au and 23 g/t Ag (Table 1).
DSSk0002 (drilled eastward at a -45 degree dip) and DSSk0001 (drilled westward at a -45 degree dip) are scissor holes collared approximately 80 m apart (Figure 1 and Figure 2). These two holes have extended a wide surface gold zone, discovered by chip samples to approximately 200 m from the surface and a width of at least 100 m (Figure 2).
Gold mineralization is hosted in volcanic clastic sediments (breccia or ignimbrites) and controlled by fractures that extend approximately to the North-East fractures and dip at high angles. High-grade gold intervals are shown to occur near the contacts of ignimbrites and rhyolitic dykes (Figure 3). The host rocks appear oxidized with brownish-reddish iron oxides and hydroxides filling in fractures.
Table 1 Summary of Drill Intercepts of the Silverstrike 2022 Discovery Drill Program | ||||||||||
Hole_ID | From_m | To_m | Length_m | Au_g/t | Ag_g/t | Pb_% | Zn_% | Cu_% | AgEQ_g/t | |
DSSk0002 | 8.62 | 232.14 | 223.52 | 0.97 | 4 | 0.13 | 0.08 | 0.02 | 81 | |
incl. | 8.62 | 94.75 | 86.13 | 2.18 | 7 | 0.12 | 0.05 | 0.02 | 169 | |
incl. | 68.60 | 72.58 | 3.98 | 29.75 | 23 | 0.18 | 0.04 | 0.04 | 2149 | |
incl. | 85.50 | 93.40 | 7.90 | 5.83 | 17 | 0.30 | 0.08 | 0.06 | 450 |
Notes: | |
1. | Drill intercepts are core lengths, and grades are distance weighted. True width of mineralization is unknown due to early stage of exploration without adequate drill data. |
2. | Calculation of silver equivalent ("AgEq") is based on the long-term median of the |
3. | A cut-off of 20g/t AgEq is applied to calculate length-weighted intercepts. |
Figure 1. A simplified geology plan map and drill holes of the Discovery Drill Program at Silverstrike Central
Figure 2. Drill cross-section of hole DSSk0001 and DSSk0002
Figure 3. High-grade gold mineralization occurs at the contacts with rhyolite dykes in hole DSSk0002
Table 2 Summary of Drill Holes of the Silverstrike 2022 Discovery Drill Program | ||||||||
Hole_ID | Easting | Northing | Altitude (m) | Depth (m) | Azimuth (°) | Dip (°) | Date_Completion | Target |
DSSk0001 | 477020 | 8085836 | 4448 | 340 | 302 | -45 | ||
DSSk0002 | 476948 | 8085860 | 4448 | 340 | 110 | -45 | ||
DSSk0003 | 477074 | 8085915 | 4494 | 150 | 295 | -45 | ||
DSSk0004 | 477131 | 8086343 | 4570 | 200 | 280 | -45 | ||
DSSk0005 | 477205 | 8086332 | 4570 | 400 | 280 | -45 | ||
DSSk0006 | 477125 | 8086404 | 4569 | 350 | 280 | -45 | ||
DSSk0007 | 477083 | 8086460 | 4551 | 250 | 270 | -45 | ||
DSSk0008 | 477178 | 8086276 | 4569 | 251 | 280 | -45 | ||
DSSk0009 | 477341 | 8085926 | 4437 | 419 | 276 | -45 | ||
DSSk0010 | 477086 | 8085834 | 4444 | 509 | 302 | -45 |
Notes: | |
1. | Drill collar coordinate system is |
2. | Coordinate of drill collar is picked with handheld GPS, subject to minor modification when resurveyed with RTK GPS upon completion of the drilling program. |
All samples in respect of the exploration program at Silverstrike, conducted by the Company and discussed in this news release, are shipped in securely-sealed bags by New Pacific staff in the Company's vehicles, directly from the field to ALS Global in
The scientific and technical information contained in this news release has been reviewed and approved by
New Pacific is a Canadian exploration and development company with precious metal projects in Bolivia. The Company's flagship Project, the Silver Sand Silver Deposit, is waiting for a PEA study by the end of 2022. Recently discovered
On behalf of
Dr.
Director and CEO
For further information, please contact:
Phone: (604) 633-1368 Ext. 222
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
Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities 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 negative of 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 exploration, drilling, development, construction, and other activities or achievements of the Company; timing of receipt of permits and regulatory approvals; timing and content of the PEA, and estimates of the Company's revenues and capital expenditures.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks relating to: global economic and social impact of COVID-19; fluctuating equity prices, bond prices, commodity prices; calculation of resources, 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 financing needed in the future, environmental risks, operations and political conditions, the regulatory environment in
This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information.
The forward-looking statements are necessarily based on a number of estimates, assumptions, beliefs, expectations and opinions of management as of the date of this news release that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates, assumptions, beliefs, expectations and options include, but are not limited to, those related to the Company's ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve estimates, projections and forecasts; the stabilization of the political climate in
Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. Accordingly, readers should not place undue reliance on such statements. Other than specifically required by applicable laws, the Company is under no obligation and expressly disclaims any such obligation to update or alter the forward-looking statements whether as a result of new information, future events or otherwise except as may be required by law. These forward-looking statements are made as of the date of this news release.
The technical and scientific information contained herein has been prepared in accordance with NI 43-101, which differs from the standards adopted by the
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-pacific-intersects-86-metres-of-near-surface-oxide-mineralization-grading-2-2-grams-per-tonne-gold-at-the-silverstrike-project-301664376.html
SOURCE
© Canada Newswire, source