New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) has taken a significant step forward in the development of its Carangas Silver-Gold Project in Bolivia by signing Administrative Mining Contracts covering the approximately 39-square-kilometre project area. The 30-year contracts, signed with the Bolivia Administrative Mining Jurisdictional Authority on Aug. 21, 2026, are now set to be submitted to the Plurinational Legislative Assembly of Bolivia for ratification and approval. This process is the next step toward formally obtaining mining tenure for the project.
The signing of these contracts marks a crucial milestone for New Pacific Metals, as it moves the Carangas project closer to becoming a fully permitted mining operation. The project, located in the Oruro department, is one of two permitting stage precious metals projects in Bolivia that New Pacific is advancing. The other is the Silver Sand project in Potosí, which has the potential to become one of the world’s largest silver mines.
In addition to securing the mining contracts, New Pacific has announced that its approximately 30,000-metre 2026 Carangas drill program is scheduled to begin the week of Sept. 8. The program will focus on upgrading mineral resources in the silver and gold zones, with approximately 25,000 metres dedicated to this objective. The remaining metres will target potential extensions and new targets. The drill program will also gather essential data for the planned feasibility study, including metallurgical samples and geotechnical and hydrological drilling.
The Carangas project is a key part of New Pacific’s portfolio, offering scale, robust economics, and regional exploration potential. With nearly a decade of operating experience in Bolivia, the company has earned the confidence of its stakeholders and shareholders. The signing of the 30-year contracts and the upcoming drill program underscore New Pacific’s commitment to advancing the Carangas project and its other assets.
The approval of the mining contracts by the Plurinational Legislative Assembly is a critical step in the process. Once ratified, New Pacific will have the formal mining tenure needed to proceed with further exploration and development activities. The drill program will provide valuable data to support the feasibility study, which is essential for making informed decisions about the project’s future.
This development is significant for the mining industry, particularly for silver and gold exploration in Bolivia. The Carangas project has the potential to become a major producer, contributing to the global supply of these precious metals. For investors, the progress at Carangas could enhance the value of New Pacific Metals’ portfolio and provide opportunities for growth.
For more information about New Pacific Metals and its projects, visit the company’s newsroom at http://ibn.fm/NEWP. The full press release about the mining contracts is available at https://ibn.fm/bOLji.
