New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) has announced results from an updated preliminary economic assessment (PEA) for its Carangas project in Bolivia, revealing an after-tax net present value (5%) of $2.65 billion and a 35.9% internal rate of return. The updated study, which incorporates a higher processing throughput and the addition of the project's gold zone, outlines a 19-year mine life with average annual payable silver production of 10.6 million ounces. The economic analysis is based on metal prices of $45 per ounce silver, $3,400 per ounce gold, $1.20 per pound zinc, and $0.90 per pound lead.
The PEA estimates initial capital costs of $644.5 million and a post-tax payback period of 2.4 years, underscoring the project's robust economics. New Pacific said it will continue advancing the Carangas project through a planned 30,000-meter infill drilling program while progressing permitting activities, including conversion of exploration licenses to administrative mining contracts and initiation of the environmental impact assessment process. The company also plans to begin feasibility-level metallurgical, geotechnical, and hydrological work as it moves toward the next stage of development.
The Carangas project, located in the Oruro department of Bolivia, is one of two precious metals projects being advanced by New Pacific. The company's other project, Silver Sand in Potosí, has the potential to become one of the world's largest silver mines. According to New Pacific, the Carangas project strengthens the company's portfolio through its scale, robust economics, and regional exploration potential. With nearly a decade of operating experience in Bolivia, New Pacific has earned the confidence of its stakeholders and shareholders.
For more details on the full press release, visit https://ibn.fm/pAzOX. The latest news and updates relating to NEWP are available in the company's newsroom at http://ibn.fm/NEWP.
