Table 1 – As Notes: 1. True w directio 2. Drill loc In additi o approxim metallurg QUALITY HQ‐size d between town loca facility in
NEWS REL LEASE
Trading Sy ymbol: TSX‐ ‐V: NUAG OTCQ QX: NUPMF
NEW PA ACIFIC INTER RCEPTS 282.01 1 METRES OF F MINERALIZA ATION GRAD DING 104 GRA AMS PER TON NNE SILVER FRO OM THE SILVER SAND PRO OJECT METAL LLURGICAL DRILLING PROGRAM
Vancouve er, British Col lumbia – July
y 13, 2020 – N New Pacific M Metals Corp. ( (TSX‐V: NUAG G) (OTCQX: NU UPMF) he assay resu (“New Pacific” or the “Company”) is pleased to
- announce th ults from the e four in‐fill d drilling
holes at the Silver Sa and Project. Holes were e drilled to o obtain repres sentative sam mples for de etailed metallurg gical work req quired by a Preliminary Eco onomic Asses ssment (PEA) study.
gical holes, as summarized in Table 1 below, comp pare favourably to Assay results from the ese metallurg by holes in intervals and those pre eviously rele eased near‐b d silver grad des and furt ther demons strate continuity y of silver mineralization. Highlight of f the results i includes 282.01 m interse ection grading 104 g/t silver in hole DSS52 25021T.
Table 1 – As ssay results for t the metallurgica al drill holes at S Silver Sand
| Met Hol | e | Fro | m (m) | To (m) | Interval | (m) | A | g (g/t) |
| DSS4225 | 01T | 7 | 2.64 | 143.96 | 71 | .32 | 149 | |
| DSS5225 | 01T | 6 | 5.78 | 187.70 | 121 | .92 | 180 | |
| DSS5250 | 21T | 6.90 | 288.91 | 282 | .01 | 104 | ||
| DSS6425 | 01T | 2 | 3.28 | 128.40 | 105 | .12 | 152 |
Notes:
1. True w width is estimate ed at 80% of dr rill intercepts ba ased on the cur rrent understand ding of the rela ationship betwee en drill directio on and mineraliz zed structures.
2. Drill loc holes provided in Table 2.
cation, azimuth and dip of drill h
In additio on, the Com mpany has a also develop ped a comp posting and sampling pr rogram to c collect approximately 1,500 k kg of drill co ore and coars se reject sam mples from p previous drilling campaign ns for metallurg gical testing.
QUALITY ASSURANCE AND QUALIT TY CONTROL
th an average HQ‐size drill core samp ples are split into equal ha alves by diam mond saw, wit e sample leng gth of between one to one a and a half metres at the Company’s c core processing facility in Betanzos, a small town loca ated 20 kilom metres from the project s site. Half co ore samples a are stored in n a secure storage facility in Betanzos fo or future refe erence, with the other ha alf shipped in securely se ealed bags to
- ALS
Global in Oruro, Boliv via for preparation, and A ALS Global in n Lima, Peru for geochem mical analysis
s. All samples a are first analyzed by a multi‐element ICP package (ALS code M ME‐MS41) wi ith ore grade e over limits for silver, lead and zinc further analyzed using ALS code OG46. Further silver over limits are analyzed by gravimetric analysis (ALS code of GRA21).
A standard quality assurance and quality control (“QAQC”) protocol is employed to monitor the quality of sample preparation and analysis. Standards of certified reference materials and blanks are inserted into the normal core sample sequences prior to shipping to the lab at a ratio of 20:1 (i.e., every 20 samples contain at least one standard sample and one blank sample). In general, duplicate samples of coarse rejects at a ratio of 20:1 are sent to a second internationally accredited lab for check analysis. The assay results of QAQC samples of standards and blanks do not show any significant bias of analysis or contamination during sample preparation.
Technical information contained in this news release has been reviewed and approved by Alex Zhang, P. Geo., Vice President of Exploration, who is a Qualified Person for the purposes of NI 43‐101.
About New Pacific
New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake gold project in Yukon, Canada.
For further information, contact:
New Pacific Metals Corp.
Gordon Neal President Phone: (604) 633‐1368 Fax: (604) 669‐9387 [email protected] www.newpacificmetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
CAUTIONARY NOTE REGARDING FORWARD‐LOOKING INFORMATION
Certain of the statements and information in this news release constitute “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.
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: fluctuating equity prices, bond prices, commodity prices; calculation of resources, reserves and mineralization, foreign exchange risks, interest rate risk, foreign investment risk; loss of key personnel; conflicts of interest; dependence on management and others.
This list is not exhaustive of the factors that may affect any of the Company’s forward‐looking statements or information. Forward‐looking statements or information are statements about the future and are inherently uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the forward‐looking statements or information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in the Company’s Annual Information Form for the year ended June 30, 2019 under the heading “Risk Factors”. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward‐ looking statements or information.
The Company’s forward‐looking statements or information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward‐looking statements or information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward‐looking statements or information.
CAUTIONARY NOTE TO US INVESTORS
This news release has been prepared in accordance with the requirements of NI 43‐101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. Securities laws. NI 43‐101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects
Table 2 – Location, azimuth and dip of metallurgical drill holes and the original twinned holes
| Hole ID _ | Easting | Northing | Elevation | Length (m) | Azimuth (°) | Dip (°) |
|---|---|---|---|---|---|---|
| DSS422501T | 234816.41 | 7857102.12 | 4107.90 | 151.70 | 60 | ‐45 |
| DSS522501T | 234865.91 | 7856554.70 | 4079.18 | 211.70 | 60 | ‐45 |
| DSS525021T | 234577.94 | 7856362.00 | 4051.04 | 292.80 | 50 | ‐47 |
| DSS642501T | 234817.79 | 7855836.81 | 4021.52 | 142.70 | 60 | ‐45 |
Note: Coordinate system is WGS84, UTM20 South.