Canadian Explorer Makes ‘Significant Silver Discovery’ in Bolivia30th January 2019
By The Gold Report
Source: Streetwise Reports 01/25/2019
A ROTH Capital Partners analyst reviewed the drill results and upcoming catalysts for the project.
In a Jan. 22 research note, analyst Joe Reagor reported maiden drill results were “worth the wait” as they confirm a “significant silver discovery” at New Pacific Metals Corp.’s (NUAG:TSX.V; NUPMF:OTCQX) Silver Sand project in Bolivia.
Of the first 98 holes reported from the company’s 2018 drill program, 94 hit silver mineralization. “A conversion ratio of this magnitude is uncommon in the mining industry and thus further supports our view that the Silver Sand project is a unique opportunity,” Reagor highlighted. Overall, the 94 holes intersected an estimated average of 58.3 meters (58.3m) of mineralization with an average grade of 83.8 grams per ton (83.8 g/t) silver. One highlight assay was 76.6m at a grade of 383 grams per ton silver.
Reagor concluded the drill results “increase our confidence in our valuation based on a hypothetical initial resource of 200 million ounces of silver.”
Results for 97 additional holes from last year’s program remain pending, release of which, Reagor wrote, is the next major catalyst for the company. After those results are announced, New Pacific will likely start working on an initial resource estimate, which could be completed by year-end 2019, he added. Simultaneously, the company is expected to continue drilling other targets at Silver Sand.
ROTH is maintaining its Buy rating and CA$3 per share price target on New Pacific Metals, whose stock is currently trading at around CA$1.90 per share.
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Disclosures from ROTH Capital Partners, New Pacific Metals Corp., Company Note, January 22, 2019
Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
An Associated Person owns debt or equity securities of New Pacific Metals Corp.
Shares of New Pacific Metals Corp. and Silvercorp Metals Inc. may be subject to the Securities and Exchange Commission’s Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
ROTH makes a market in shares of Silvercorp Metals Inc. and as such, buys and sells from customers on a principal basis.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.
( Companies Mentioned: NUAG:TSX.V; NUPMF:OTCQX,
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