VANCOUVER, BRITISH COLUMBIA – September 10, 2013: New Pacific Metals Corp. (“New Pacific” or the “Company”) is pleased to announce the diamond drilling program at the RZY silver-lead-zinc exploration project (the “Project”) in Qinghai province, China commenced on September 1, 2013.
The drilling program at the RZY project is designed to test the size and nature of the silver-lead-zinc mineralized structure and to confirm the assay results of historical trenching and drilling by previous owners. Currently four diamond drill rigs have been moved to site and drilling has started. Drilling activities will continue until the onset of freezing winter season in early-mid October, and about 5,000 metres of core is expected to be completed. This drill program will cover the western three kilometre long portion of the six kilometre long mineralized structure with a drill grid of 200 metre on strike by 100 metre down dip.
In addition to the drilling, trenching, and grid soil geochemistry, ground magnetic detailed topography surveys will also be conducted. The drill results are expected to be available in the later part of the year and the Company will release those results in a timely manner.
Alex Zhang, P.Geo., is the Qualified Person on the project as defined under National Instrument 43-101. He has reviewed and approved the technical contents of this news release.
About New Pacific
New Pacific is a Canadian gold and silver exploration and development company which owns the Tagish Lake gold project in Yukon, Canada, and also owns the majority interests of the RZY silver-lead-zinc exploration project in Qinghai Province, China.
For further information, contact:
New Pacific Metals Corp.,
Phone: (604) 633-1368
Fax: (604) 669-9387
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain of the statements and information in this press 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 relate to, among other things: the price of silver and other metals; the accuracy of mineral resource and mineral reserve estimates at the Company’s material properties; the sufficiency of the Company’s capital to finance the Company’s operations; estimates of the Company’s revenues and capital expenditures; timing of receipt of permits and regulatory approvals; availability of funds from production to finance the Company’s operations; and access to and availability of funding for future construction, use of proceeds from any financing and development of the Company’s properties.
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 commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports; permits and licenses; title to properties; First Nations title claims and rights; property interests; joint venture partners; acquisition of commercially mineable mineral rights; financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating expenditures and economic returns of future production; integration of future acquisitions into the Company’s existing operations; competition; operations and political conditions; regulatory environment in Canada; environmental risks; insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management.
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