New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) has announced a major milestone for its Carangas Silver-Gold Project in Bolivia with the signing of Administrative Mining Contracts covering the approximately 39-square-kilometre project area. The 30-year contracts, signed on August 21, 2026, with the Bolivia Administrative Mining Jurisdictional Authority, are now being submitted to the Plurinational Legislative Assembly of Bolivia for ratification and approval. This step is crucial for the company to formally obtain mining tenure and move the project forward.
The signing comes as New Pacific prepares to launch a significant 30,000-metre drill program at Carangas, scheduled to begin the week of September 8. The program will allocate approximately 25,000 metres to upgrading mineral resources in the silver and gold zones, with the remaining 5,000 metres targeting potential extensions and new targets. This drilling will also collect essential data for a planned feasibility study, including metallurgical samples and geotechnical and hydrological drilling.
The importance of this development cannot be overstated. Carangas is one of two permitting-stage precious metals projects in Bolivia that New Pacific is advancing, and it holds substantial potential. According to the company, the project’s scale, robust economics, and regional exploration potential strengthen its portfolio significantly. With near a decade of operating experience in Bolivia, New Pacific has built strong relationships with stakeholders, and this contract signing is a testament to the company’s commitment and credibility in the region.
The approval process by the Plurinational Legislative Assembly is a critical hurdle. Once ratified, the contracts will provide New Pacific with the security and legal framework needed to proceed with development and, ultimately, production. This is a positive signal for investors, as it reduces regulatory uncertainty and paves the way for the project’s advancement.
New Pacific Metals is a Canadian exploration and development company with a focus on precious metals. Its Silver Sand project in Potosí has the potential to become one of the world’s largest silver mines, and the Carangas project in Oruro adds further diversity and upside. The company’s progress in Bolivia demonstrates its ability to navigate complex permitting processes and its long-term vision for growth.
For more information on New Pacific Metals and its latest updates, visit the company’s newsroom at http://ibn.fm/NEWP. The full press release can be viewed at https://ibn.fm/bOLji.
