Trading
Symbol: TSX-V: NUX
December 8, 2008
Gold Mineralization Intersected by Drilling and Underground Tunneling at the
HNK Gold-Polymetallic Project, Guangdong Province, China
VANCOUVER, BRITISH COLUMBIA - December 8, 2008 - New Pacific Metals Corp. (TSX-V:
NUX) reports assay results for its exploration program at the HNK
Gold-Polymetallic Project located in Guangning County, Guangdong Province,
People�s 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 diamond drilling in 51 holes and has completed 700
meters of underground tunneling in two adits (PD 220 and PD 260) at 220 m and
260 m levels, and a Decline (XJ180) from the 220 m Level.
Drill Results
Through sampling of 189 old artisanal mine workings and diamond drilling, the
Company has to date identified 18 gold mineralized veins/zones within the East
Area of the HNK exploration permit. The most significant veins V9, V10 and V11
are NE-SW trending structures that cut across sedimentary host rocks. These
veins coincide with elongated soil geochemical anomalies and numerous artisanal
tunnels that were explored in the past by unauthorized miners.
Table 1 summarizes the new drill intercepts of 25 diamond drill holes and Table
2 summarizes results of previously-announced drill holes. Please refer to
Company�s website www.newpacificmetals.com for additional maps and sections
outlining the veins and location of the drill holes.
Vein V9
V9 is the most significant vein that has been intersected by drilling and is
the current focus of the underground tunneling program to define mineral
resources. The vein has been intersected by 24 drill holes along a strike
length of 820 m and to a depth of 400 m. Significant gold drill intersections,
as previously reported, include:
> 13.5 g/t over 3.1 m at an elevation of 180 meters in Drill hole ZK0001 and
46.06 g/t over 1.94 m at an elevation of 80 meters in Drill hole ZK0003.
(True widths are not known at this time)
The vein is near vertical with a dip angle of 72 to 88 degrees northward, with
thickness varying from 3.89 m to less than 1.0 m. Mineralized vein V9
cuts host rocks of thick-bedded sandstone and quartz sandstone of the upper
part of the Cambrian Shuisi Formation. The mineralization occurs within grey
silicification containing arsenopyrite, pyrite, sphalerite and
pyrrhotite. Fine-grained visible gold has been observed in some of the
high grade intersections.
Other veins
A multitude of additional veins have been identified parallel to V9. V10, like
V9, is NE-NW trending and steeply dipping. The vein is developed along the F10
fault. Gold mineralization intersected to date is lower grade than that in V9
but in wider zones. Additional work is required to better define the
mineralization in this vein.
The location and orientation of the very high gold grade R1 vein, (8.13 meters
averaging 55 grams/tonne gold), as intersected by drill hole ZK0003, could not
be defined by the additional drill holes completed in the area. The exploration
decline was designed to cut the mineralization at the 180 meter level that was
intersected in the R1 zone. This decline is in progress but has not yet reached
its target area.
Vein V11 has been traced for 1,200 meters on strike and has been intersected by
drill holes ZK0004 and ZK0005.
Vein V109 is located in the northeast part of the exploration permit and is
characterized by moderately high gold (6-11 g/t) and silver (330-340 g/t)
values with some associated Pb and Zn (Refer to drill holes ZK 11801 and
ZK1192). Like V11, further work is required to define the mineralization in
these and other veins.
Tunneling Program
To date 300 meters of underground tunnel, with dimensions of 2.2 m width by 2.0
m height, has been completed at PD 220, and 200 meters at PD 260. These tunnels
are designed to intersect vein V9 at elevations 220 meters and 260 meters
respectively. An additional 200 meters at decline PD 180 (from the 220 meter
level in PD 220) is oriented to access the high grade R1 vein intersected by
drill hole ZK0003 (55.04 g/t gold over 8.13 meters) at the 180 meter
level. The results from these tunnels are pending.
Continuing Work
While the underground tunneling is continuing, the Company is initiating
technical studies that could become part of a pre-feasibility study (under
Chinese mining regulations) in order to apply for a Mining Permit.
Independent professional contractors are being engaged to perform metallurgical
studies to determine the optimum processing method as well as hydrological,
environmental, and logistical studies for possible mill and tailings
sites.
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.
For Further Information: please contact New Pacific Metals Corp., Lou Duarte,
President, 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.
(For more detail about this news release, please visit
http://www.newpacificmetals.com)
This message was sent by: New Pacific Metals Corp., 200 Granville Street
Suite 1378, Vancouver, BC V6C 1S4, Canada
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