High Grade Gold Mineralization Intersected by Underground Tunneling at the HNK Gold-Polymetallic Project, Guangdong Province, China
Feb 16, 2009
VANCOUVER, BRITISH COLUMBIA - February 16 2009 - New Pacific Metals Corp. (TSX-V: NUX) reports assay results from its tunnel exploration program at the HNK Gold-Polymetallic Project located in Guangning County, Guangdong Province, China. The HNK Project permit covers an area of approximately 56.5 square kilometers. To date, the Company has completed a total of 14,925 meters diamond drilling in 51 holes and has completed 1,033 meters of underground tunneling in two adits PD 220 and PD 260 and a Decline XJ195 from the 220 m to the 195 m level.Tunneling Program and Results
The objective of the tunneling program was to access and expose the V9 and R1 veins intersected by the drill program as reported in the December 8, 2008 News release. The V9 vein was exposed at elevation 260 and 220 with over 100 meters of drifting tunnel and R1 vein at elevation 195 with over 30 meters of drifting. In addition to the two noted veins, several new mineralized veins have also been intersected. Table 1 below lists the major tunneling sampling results. The most significant intervals are:
125.83 grams per tonne (g/t) Au over 1.10 m at elevation 260 on vein V9
44.51 (g/t) Au and 10 g/t Ag over 1.25 m at elevation 260 on vein V9
31.10 (g/t) Au and 29 g/t Ag over 0.60 m at elevation 220 on vein V9
22.71 (g/t) Au and 4 g/t Ag over 1.20 m at elevation 220 on vein V9
35.23(g/t) Au and 90 g/t Ag over 1.10 m at elevation 195 on vein R1
12.56 (g/t) Au and 26 g/t Ag over 1.47 m at elevation 195 on vein R1
Please refer to Company's website www.newpacificmetals.com for additional maps including a plan view map of the tunnels and a cross section at Line Zero.
Table 1: HNK Tunnel Sampling Results
Major Assay results from channel sampling completed on the V9, R1, and other veins
Note: 1 ounce/ton = 34.285 grams/tonne, 1 meter = 3.28 feet. Unless otherwise noted, all widths are true widths. Where more than one sample was taken, results are weighted averages.
Continuing Work
The underground tunneling program will continue drifting on V9 and R1 veins as well as accessing V9 vein at elevation 180 meters to define mineral resources. A 2000 metre diamond drill program will also start to test the West Area of the HNK permit, where large soil geochemical anomalies, gold mineralized veins, and numerous artisanal tunnels have identified mineralization. In addition, the Company will continue its technical studies required for a pre-feasibility study (under Chinese mining regulations) in order to apply for a Mining Permit.
Quality Control
The Company maintains a quality control program to ensure best practice in sampling and analysis of the samples. All samples are shipped directly in security bags to ALS Chemex (Guangzhou) Co. Ltd., a laboratory certified by China Bureau of Quality Control and Quality Assurance. In the laboratory, samples are dried, crushed, split, pulverized to 200 mesh, and then assayed using a standard 30 g nominal sample weight gold by fire assay with AAS finish.
According to ALS Chemex, for the Fire Assay – AA process, a prepared sample is fused with a mixture of lead oxide, sodium carbonate, borax, silica and other reagents are required, inquarted with gold –free silver and then cupelled to yield a precious metal bead. The bead is digested in dilute nitric acid in the microwave oven, and then concentrated hydrochloric acid is added and the bead is further digested in the microwave at a low power setting. The digested solution is cooled, diluted with de-mineralized water and analyzed by atomic absorption spectroscopy against matrix-matched standards.
The exploration work is carried out by Silvercorp Metals Inc's wholly owned subsidiary, Yunnan Jin Chang Jiang Mining Co. Ltd., and is directly supervised by Mr. Jigui Sun (B.A. & M.Sc., Geology), the General Manager of Jin Chang Jiang and by Dr. Rui Feng (Ph.D., Geology), Director of New Pacific Metals.
Barry J. Price, M.Sc., P. Geo. Consulting Geologist has reviewed the contents of this News Release as the Qualified Person for the company.
About New Pacific Metals Corp.
New Pacific Metals Corp is engaged in the acquisition and exploration, of gold and polymetallic properties in the People's Republic of China ("China"). Currently, the Company is focusing on exploring and defining gold mineral resources in the Guangdong Province.
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration, development, and mining. Production and revenue projections are based not on mineral reserves but on mineral resources which do not have demonstrated economic viability. As a result, actual results may vary materially from those described in the forward-looking statements. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. The Company does not undertake any obligation to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. The Company expressly disclaims any obligation to update any forward-looking statements. We seek safe harbour.
For Further Information:
New Pacific Metals Corp.
Lou Duarte, President & CEO
Phone: +1 (604) 633-1368
Fax: +1 (604) 669-9387
Email: [email protected]
Website: www.newpacificmetals.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the release.
PLAN OF UNDERGROUND WORKINGS AT HNK PROPERTY
CROSS SECTION OF UNDERGROUND WORKINGS AT HNK PROPERTY
