Progress Report on Carangas Silver-Gold and Silver Sand Silver Projects, Bolivia and 2026 Work Plan
None
The December 4, 2025, press release provides a progress report on New Pacific's two key Bolivian projects, Carangas and Silver Sand, and outlines the 2026 work plan.
- Carangas Project (Silver-Gold): The company is advancing the conversion of its exploration licenses to an Administrative Mining Contract (AMC), a critical step for development. It has successfully completed a community consultation and vote ("Consulta Previa"), a major de-risking milestone. Negotiations for a long-term framework agreement are now underway. A 30,000-metre drilling campaign is planned for 2026 to support a future feasibility study.
- Silver Sand Project (Silver): Illegal mining activities by artisanal miners, a previously disclosed risk, ceased as of July 1, 2025, following a court-granted Amparo (protection order). The company has regained site access and is re-engaging with local communities to negotiate new agreements. The goal is to restart the environmental permitting process by mid-2026, with technical drilling for a feasibility study also planned.
The news is Materially Positive. It demonstrates tangible progress on the two most significant hurdles the company faced at the beginning of the year.
- De-risking in a Difficult Jurisdiction: In its February 10, 2025 update, the company explicitly stated its focus for the year was permitting and strengthening stakeholder relationships. The successful community vote at Carangas and the resolution of the illegal miner conflict at Silver Sand are direct and significant achievements against these stated goals. These are not minor operational updates; they are crucial steps in de-risking large-scale projects in Bolivia, a notoriously challenging jurisdiction.
- Unlocking Future Catalysts: The progress clears the path for the next phases of development. At Carangas, the successful community vote is a prerequisite for receiving the AMC, which in turn allows the large-scale 30,000m drill program and feasibility study to proceed. At Silver Sand, regaining site control is the first and most critical step to restarting the permitting process, which had been stalled.
- Validation of Strategy and recent Financing: The company raised C$40.4 million in October 2025. This news provides shareholders with confidence that the capital is being deployed effectively to advance the projects. The planned 30,000m drill program is a direct result of this strengthened financial position.
While Bolivia remains a high-risk jurisdiction and final permits are not yet in hand, this news confirms management is executing its strategy effectively. The removal of the illegal miner blockade at Silver Sand is particularly impactful, as it was a major overhang on the project's viability.
New Pacific Metals is a Canadian exploration and development company focused on its portfolio of silver and gold projects in Bolivia. The company is advancing two world-class, open-pittable silver deposits in parallel. - Carangas Project: A large silver-gold-lead-zinc project currently at the Preliminary Economic Assessment (PEA) stage. The PEA highlights a potential 16.2-year mine life producing an average of 6.6 Moz of silver annually, with significant gold and base metal by-products. - Silver Sand Project: A high-grade silver project at the Pre-Feasibility Study (PFS) stage. The PFS outlines a 13-year mine life producing an average of 12 Moz of silver annually.
The company's strategy is to become a major silver producer by developing these two assets, which have the combined potential to produce over 18.6 Moz of silver per year, making it one of the largest primary silver development pipelines globally.