New Pacific Metals Corp. engages in the exploration and development of mineral properties in Bolivia. The company’s precious metal projects include the flagship Silver Sand project, the Carangas project and the Silverstrike project
Bolivian Licence Tenure
Exploration and mining rights in Bolivia are granted by the Ministry of Mines and Metallurgy through the Autoridad Jurisdictional Administrativa Minera (‘AJAM’).
Silver Sand Project
The Silver Sand Project is in the Colavi District of Poto...
New Pacific Metals Corp. engages in the exploration and development of mineral properties in Bolivia. The company’s precious metal projects include the flagship Silver Sand project, the Carangas project and the Silverstrike project
Bolivian Licence Tenure
Exploration and mining rights in Bolivia are granted by the Ministry of Mines and Metallurgy through the Autoridad Jurisdictional Administrativa Minera (‘AJAM’).
Silver Sand Project
The Silver Sand Project is in the Colavi District of Potosí Department in southwestern Bolivia at an elevation of 4,072 m above sea level, 33 kilometres (km) northeast of Potosí City, the department capital.
The Silver Sand Project consists of two claim blocks, the Silver Sand south and north blocks, which covers a total area of 5.42 km2. The Silver Sand south block, covering an area of 3.17 km2 hosts the Silver Sand deposit. In 2021, the company announced the receipt of an AMC for the Silver Sand south block from the AJAM. The Silver Sand north block covers an area of 2.25 km2 and consists of two AMCs (Jisasjardan and Bronce). The AMCs establish a clear title to the Silver Sand Project.
Carangas Project
In April 2021, the company signed an agreement with a private Bolivian company to acquire a 98% interest in the Carangas Project. The Carangas Project is located approximately 180 km southwest of the city of Oruro and within 50 km from Bolivia’s border with Chile. The private Bolivian company is 100% owned by Bolivian nationals and holds title to the three exploration licenses that cover an area of 40.75 km2. Under the agreement, the company is required to cover 100% of the future expenditures on exploration, mining, development and production activities for the Carangas Project.
Silverstrike Project
The Silverstrike Project is located approximately 140 km southwest of La Paz, Bolivia. In December 2019, the company signed a mining association agreement and acquired a 98% interest in the Silverstrike Project from a private Bolivian corporation. The private Bolivian corporation is owned 100% by Bolivian nationals and holds the title to the nine ATEs (covering an area of approximately 13 km2) that consists of the Silverstrike Project.
Under the mining association agreement, the company is required to cover 100% of future expenditures, including exploration, contingent on results of development and subsequent mining production activities at the Silverstrike Project.
Frontier Area – Carangas Project and Silverstrike Project
The Carangas Project and the Silverstrike Project are located within 50 km of the Bolivian border with Chile. In line with many South American countries, Bolivia does not permit foreign entities to own property within 50 km of international borders (the ‘Frontier Area’). Property owners in the Frontier Area are, however, permitted to enter into mining association agreements with third parties, including foreign entities, for the development of mining activities under Bolivian Law No. 535 on Mining and Metallurgy.
History
The company was formerly known as New Pacific Holdings Corp. and changed its name to New Pacific Metals Corp. in 2017.