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Further High
Grade Gold Mineralization Intersected by Underground Tunneling
at the HNK Gold-Polymetallic Project, Guangdong
Province, China
VANCOUVER, BRITISH COLUMBIA - April 29, 2009 - New
Pacific Metals Corp. (TSX-V: NUX) reports tunneling assay results from its exploration program at
the HNK Gold-Polymetallic Project located in Guangning County, Guangdong Province, Peoples Republic of
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 (m) of diamond
drilling in 51 holes and has completed 1,270 meters of underground tunneling in four levels in 40 m intervals: 260m, 220m,
and 180m Levels, mainly following the V9 vein. Previous drilling has traced
V9 from surface to elevation -30 meters or over 400 m from surface as
indicated in Cross Section Zero.
Tunneling Program
In the 27.6 metre newly developed drift along the V9 vein at the 180m Level,
the average grade over 27.6 m of drift is 294.8 gram/tonne (g/t) gold (Au),
123.8 g/t silver (Ag), 1.33% lead (Pb) and 1.93%
zinc (Zn) at an average width of 0.37 m. These grades are significantly
higher than those intersections in the previous drill holes nearby.
Please refer to Company's website www.newpacificmetals.com for February 16,
2009 News Release and 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 at Elevation 180
Sample
Number
|
Mineralized
Veins
|
Elevation
(m)
|
Distance
to Line 0(m)
|
Width
of Vein (m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb (%)
|
Zn
(%)
|
A177
|
V9
|
180
|
17.0
|
0.3
|
5.69
|
16
|
0.124
|
0.054
|
A176
|
V9
|
180
|
21.0
|
0.3
|
276
|
251
|
3
|
3.5
|
A175
|
V9
|
180
|
25.0
|
0.35
|
233
|
138
|
1.385
|
0.773
|
A170
|
V9
|
180
|
29.4
|
0.5
|
621
|
181
|
1.985
|
3.82
|
A168
|
V9
|
180
|
30.5
|
0.5
|
443
|
146
|
1.86
|
3.28
|
A171
|
V9
|
180
|
33.0
|
0.4
|
348
|
141
|
1.06
|
2.7
|
Sample
Number
|
Mineralized
Veins
|
Elevation
(m)
|
Distance
to Line 0(m)
|
Width
of Vein (m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb (%)
|
Zn
(%)
|
A172
|
V9
|
180
|
36.9
|
0.3
|
444
|
199
|
2.03
|
1.28
|
A173
|
V9
|
180
|
40.7
|
0.35
|
4.99
|
2
|
0.02
|
0.025
|
A174
|
V9
|
180
|
44.6
|
0.3
|
2.23
|
<1
|
0.016
|
0.019
|
Note: 1.0
ounce/tonne = 31.103 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. Adjustments have not been made for mining
width as this has not been determined at this time.
Continuing Underground Tunneling Program
Based on these significant drifting results, the Company plans to continue
with an extensive underground tunneling program totaling 3,260 m of drifting, cross cuts and raises on V9
vein from elevation 300 to elevation 180 on 40 m elevation intervals and on
R1 vein at elevation 195. The objective is to advance the mineralized zones
to mineral resources or reserves, if and where possible, between line 7 and
line 20 and to mine sufficient material for a bulk sample for metallurgical
testing that will be utilized in expediting the preparation of technical
reports to apply for a Mining Permit.
Metallurgical Testing
The Hunan Institute for Non-Ferrous Metal Research, a Qualified Chinese
Engineering firm, has completed a preliminary metallurgical testing program
consisting of crushing and floatation. The ore was crushed and ground to -200
mesh and three concentrates (gold-lead, gold-pyrite and Zinc) were produced
and metal recoveries were analyzed. The preliminary closed circuit tests
demonstrates that the process flow, including gold-lead-pyrite mix floatation
and then zinc floatation produces a good mineral recoveries and thus suitable
for this type of ore. The overall metal recoveries were 92% for gold, 91% for
silver, 96% for lead, and 92% for zinc.
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 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.
For Further Information:
Lou Duarte, Director, President & CEO
Phone: (604) 633-1368
Fax: (604) 669-9387
Email: info@newpacificmetals.com
Website: www.newpacificmetals.com
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.
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of the
release.
CROSS SECTION
OF UNDERGROUND WORKINGS AT HNK PROPERTY
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