viewNew Pacific Metals

New Pacific Metals updates on flagship Silver Sand project in Bolivia and surrounding area

The project is owned by Alcira, which was bought by New Pacific in 2017

New Pacific Metals -
The firm's flagship project is the 3.17 sq km Silver Sand project in Bolivia

New Pacific Metals Corp (CVE:NUAG) (OTCMKTS:NUMPF) updated Monday on its agreement over land surrounding its flagship 3.17 sq km Silver Sand project in Bolivia. 

The project is owned by Alcira, which was bought by New Pacific in 2017. 

In January last year, New Pacific announced that Alcira had struck a mining production contract (MPC) with Corporación Minera de Bolivia (COMIBOL), granting Alcira the right to carry out exploration, mining, and production activities in the areas adjoining the Silver Sand project.  

READ: New Pacific Metals shares positive new drill results from high priority prospect on Silver Sands project

The MPC covers up to a huge 56.9098 sq km and involves two separate areas.

The first area lies to the south and west of the Silver Sand project, while the second area includes additional properties to the north, the east and the south.

The MPC was approved by Bolivia’s Ministry of Mining and Metallurgy in January last year, but remains subject to ratification and approval by the Plurinational Legislative Assembly of Bolivia, the firm noted.

The major terms of the MPC are:

  • Alcira will commit to a minimum US$5,935,000 risk exploration investment during the first five years of the MPC for mineral exploration and related activities and make a monthly cash payment of US$10,000 to COMIBOL.
  • If an economic mineral deposit is discovered, Alcira will cover all cost of further exploration, environmental studies, engineering studies, pre-feasibility and feasibility studies as well as development and production.
  • If commercial production commences, COMIBOL will receive a 4% gross sales value of all minerals produced from the areas covered under the MPC.

While waiting for the MPC being ratified, approved, or re-worked, New Pacific will focus on defining an economic resource at its 100%-owned Silver Sand project, it noted.

Contact the author at [email protected]

Quick facts: New Pacific Metals

Price: 7.44 CAD

Market: TSX
Market Cap: $1.14 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of New Pacific Metals named herein, including the promotion by the Company of New Pacific Metals in any Content on the Site, the Company receives...


New Pacific Metals provides update at their Silver Sand and Silverstrike...

New Pacific Metals (TSE: NUAG-OTCQX: NUPMF) President Gordan Neal joined Steve Darling from Proactive to provide an update on their two key projects that have seen some new developments. Neal talking about Silver Sands and the Silver Strike projects in Bolivia, which has seen reconnaissance and...

on 19/11/20

2 min read