New Pacific Metals Corp is a Canada-based company focused on exploring and developing precious metal properties, primarily in Bolivia.
The Vancouver-based firm's shares graduated from the Toronto Stock Venture Exchange to Toronto Stock Exchange in 2020, where it is listed as a mining issuer. The stocks trade under the symbol 'NUAG'.
On May 20, 2021, the mining issuer received approval for listing its common stocks for trading on the New York Stock Exchange under the symbol 'NWEP'.
New Pacific Metals has three development and exploration projects, including:
Silver Sand Project
It is located approximately 25 kilometers northeast of Cerro Rico Silver and base metal system near Potosi, Bolivia. The project comprises a total core mineral area of 3.17 square kilometers, with four concession areas of around six square kilometers in the North and South blocks.
The company also has interests in various prospective targets near the mining site, including Snake Hole prospect.
New Pacific Metals has a 100 percent stake in the Silver Sand Project through its wholly-owned subsidiary Minera Alcia S.A
Located in the La Paz' southwest region in Bolivia, the project is at an elevation of 4000-4500 meters from sea level. It comprises nine concessions areas in 13 square kilometers.
In December 2019, the company acquired 98 per cent stake in the project by paying in cash USD$1,350,000.
It is another principal Bolivian project located approximately 180 kilometers southwest of Oruro City. The Carangas project comprises two exploration concessions with a total area of 6.25 square kilometers.
In April 2019, New Pacific Metals entered into an agreement with a private company to acquire a 98 percent stake in the project.
New Pacific Metals is focused on regional exploration and development prospects and expansion of current mining assets.
The company has identified high-grade gold and silver mines at Silverstrike Project and multiple silver targets at Snake Hole Zone under Silver Sand Project.
The listed mining issuer's major shareholders are Pan America Silver Corp (TSX:PAAS) and Silvercorp Metals Inc (TSX:SVM).