NUPMF - New Pacific Metals acquires silver project in Bolivia

New Pacific Metals (NUPMF) says it has entered into an agreement with private company to acquire its 98% interest in the Carangas silver project located in the Oruro Department, Bolivia. Financial details of the transaction not disclosed. The agreement has a term of 30 years and is renewable for an additional 15 years."The addition of the Carangas Project fits well with the Company's strategy to become a premier Latin American focused precious metal explorer and developer. Initial field work, including target generation, positions us well for a successful drill program and compliments our planned exploration programs at our Silverstrike Project, in addition to the advanced exploration and development studies currently in progress on our flagship Silver Sand project," says CEO Dr. Mark Cruise. The company expects to start the initial discovery drilling program upon receipt of the related permit from the local authorities.Press Release

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New Pacific Metals acquires silver project in Bolivia