New Pacific Metals Corp. (“New Pacific” or the “Company”) (TSX: NUAG) (NYSE American: NEWP) is pleased to announce that Bolivia’s Jurisdictional Mining Administrative Authority (Autoridad Jurisdiccional Administrativa Minera or “AJAM”) has granted an Administrative Mining Contract (Contrato Administrativo Minero or “AMC”) for the Company’s Silver Sand Project. All required registration, notarization and publication steps to perfect the title of the AMC in favour of Empresa Minera Alcira S.A., the Company’s wholly-owned Bolivian subsidiary, are complete.
The AMC establishes a clear title to the Silver Sand Project mineral rights. In accordance with Bolivia’s Mining Laws, as summarized below, New Pacific submitted all required documents for the consolidation and conversion of the original seventeen ATEs that comprised the Silver Sand Project to cuadriculas and an AMC to AJAM. The AMC for the Silver Sand Project was signed with AJAM in 2020, registered and notarized before Bolivia’s National Mining Registry on June 17, 2021, and published in AJAM’s Mining Gazette on July 15, 2021.
The AMC for the Silver Sand Project, which hosts the Silver Sand deposit, covers an area of 3.17 km2. The total area under full control of the Company will be 5.42 km2 after completing the consolidation and conversion procedures for the North Block, which is comprised of three ATEs (Jisas, Jardan and El Bronce).
Dr. Mark Cruise, CEO of New Pacific said, “We are very pleased by the receipt of the AMC and mineral rights for the Silver Sand Project. In addition to our 2021 drill program and the advancement of the PEA work, the AMC unequivocally establishes title for the Project.”
