New Pacific Metals signs 30-year mining contracts in Bolivia

New Pacific Metals Corp. (NYSE-A: NEWP) signed Administrative Mining Contracts (AMCs) for its Carangas Silver-Gold Project in Bolivia's Oruro Department on Aug. 21, 2026, according to a company statement.

The AMCs cover approximately 39 km² and carry a 30-year fixed term. They were finalized by Bolivia's Administrative Mining Jurisdictional Authority (AJAM) following the conversion of the project's existing Prospecting and Exploration Licences. The signed contracts will next be submitted to Bolivia's Plurinational Legislative Assembly for ratification.

The company also announced a 2026 drill program at the Carangas project set to begin the week of Sept. 8, 2026. The campaign will total approximately 30,000 metres, with around 25,000 metres aimed at upgrading mineral resources in both the silver and gold zones. The remaining metres will focus on step-out drilling and testing new targets, including standalone chargeability anomalies identified in induced polarization surveys completed in 2023. Site preparation and equipment mobilization are underway.

The program will also collect data for a planned feasibility study, including metallurgical samples and geotechnical and hydrological drilling.

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