CARANGAS PROJECT

Cementing our first mover status in an under-explored world-class silver district

The Carangas Project consists of two exploration concessions totaling 6.25 square kilometers, located approximately 180 km southwest of the city of Oruro, in southwest Bolivia. Situated in the Bolivian altiplano at an average elevation of 3,800 m, access to the Project is via paved Highway 12 and a municipally maintained 30 km gravel road.

Geologically, the Project is comprised of a Tertiary volcanic complex approximately 1.6 km long in east-west direction and 1.4 km wide in north-south direction, which stands 150 m above the surrounding fluvial plains.

Carangas Project Highlights

• Former silver mining district, located on La Ruta de la Plata (the Silver Road), containing broad zones of outcropping silver mineralization and historically exploited high-grade silver veins;
• An initial 5,000-metre discovery drill program underway;
• Identified four drill target areas for bulk tonnage and high-grade silver mineralization;
• Highlights of due diligence sampling include: 30 meters at an average grade of 101 g/t silver, 15 meters at an average grade of 252 g/t silver, and 8 meters at an average grade of 512 g/t silver;
• Leverages New Pacific’s exploration and project advancement expertise in Bolivia and cements the Company’s first mover status in an under-explored silver district

Ownership

In April 2021, the Company announced the acquisition of a 98% interest in the Carangas Project from a private Bolivian corporation. Under the agreement, the Company will cover 100% of the future expenditures of exploration, mining, development and production activities. The agreement has a term of 30 years and renewable for another 15 years.

Click here to access news releases related to the Carangas Project.