Silver Seeker Report: This Week in Mining Issue #9 – Unlike the Economy, Mining is Heading in the Right Direction as Mining Restarts Continue

New Pacific Metals: Reported an incredibly robust Inaugural resource estimate for its Silver Sands deposit in Bolivia. I was expecting a maiden resource estimate (MRE) of 225-250m oz. Ag @ 115 g/t Ag but the M&I resource was 156m oz. Ag @ 137 g/t Ag and an additional 36m oz. Ag Inferred @ 112 g/t Ag, or a total resource of 191m oz. Ag @ 132 g/t Ag. This was based on a 90% recovery rate and 45 g/t Ag cutoff. While a bit lower than expected, it is still robust. Furthermore, there is so much more potential waiting to be unlocked through additional drilling and the inclusion of drilling post-2019 i.e. the recently discovered Snake Hole Zone. Mineralization remains open to the north and south and at depth. Metallurgical test work had yielded recoveries of up to 97% for the various oxide – transition and sulphide ore, so the MRE could have been larger. There is still a strong probability this project ultimately becomes a 1B-2B+ oz. silver deposit. Lastly, technical studies to facilitate the PEA commenced in Q1-2020 and are ongoing using independent subject matter experts. No matter how the PEA turns out, the PFS and FS will most certainly outline a larger project as the resource increases several multiples relative to the MRE. This is without a doubt the most exciting silver exploration company in the world and for the time being, remains an excellent call option on silver. $AEM, $CXB.TO, $KOR.TO, $EGO, $AG, $FSM, $GCM.TO, $HL, $JAG.TO, $MUX, $NUAG.V, $OSK.TO, $ROXG, $RGLD, $SILV, $SSRM, $TXG.TO, $WDO.TO, $WPM, $AUY