BOLIVIA —New Pacific Metals has secured 30-year Administrative Mining Contracts with Bolivia’s Administrative Mining Jurisdictional Authority for its 39-square-kilometer Carangas Silver-Gold Project in the Oruro Department. The approval transitions the asset from temporary prospecting status into a long-term legal framework following prior community consent. Legislative ratification remains the final step before the company completes its environmental impact assessments and technical feasibility studies.
Parallel to the legal progress, a 30,000-meter drilling initiative is set to begin in September 2026. Approximately 25,000 meters will focus on upgrading resource classifications across the site’s silver and gold zones, while the remaining exploratory drilling will evaluate step-out targets and geophysical anomalies identified in earlier surveys. The campaign will also collect critical metallurgical, geotechnical, and hydrological data to support ongoing project feasibility analysis.
The transition to formal administrative contracts significantly reduces regulatory and tenure risks for foreign mining operators in Bolivia. Obtaining local stakeholder consent and formal tenure provides a standardized blueprint for international resource firms navigating complex Latin American permitting pathways. Successful legislative approval will further establish regulatory predictability for resource extraction projects in the region.
Securing multi-decade mining rights enables long-term capital allocation for precious metals development in South America. The simultaneous advancement of resource expansion drilling and feasibility studies positioning the asset for eventual commercial production enhances project valuation and offers strategic clarity for institutional investors tracking silver and gold exploration assets.
New Pacific Metals is a Canadian mineral exploration and development company focused on precious metal properties in Bolivia. Its portfolio includes the Silver Sand project in Potosí and the Carangas Silver-Gold project in Oruro.
