SAN FRANCISCO, Nov. 29, 2017 (GLOBE NEWSWIRE) -- A potentially large silver project in Bolivia has caught the attention of Pan American Silver.
Included in this article is: New Pacific Metals Corp. (TSX-V:NUAG)
New Pacific Metals Corp. (TSX-V:NUAG) announced that it closed a private placement with Pan American Silver Corp. (PAAS) of 16 million units and Silvercorp Metals for 3 million units. According to the company, each unit was priced at $1.42, for gross proceeds of approximately $27 million. "The proceeds of the Private Placement will be used to further the Company's exploration and/or development program on its Silver Sand Project located in the Potosí Department of Bolivia and for general working capital purposes," New Pacific Metals stated in the release.
New Pacific acquired rights to the Silver Sand project in Potosí, Bolivia in July 2017. According to the company, the property "is one of the earliest silver discoveries in the district, having been made prior to the discovery of Cerro Rico in the mid-1500s. Small-scale, historic mining is evident from scattered shafts, pits, adits, declines and dumps. The property was explored previously by intermittent surface mapping and sampling, underground sampling and surface core drilling between 2012 and 2015."
Continue reading this article: Pan American Silver Buys 16% of Silver Explorer
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DISCLOSURE:
The following company mentioned in this article a sponsor of Streetwise Reports: New Pacific Metals Corp. Streetwise Reports does not accept stock in exchange for its services.
The full disclosure is provided at the end of the published article: Pan American Silver Buys 16% of Silver Explorer