Tagish Lake Gold Property
Mt. Skukum Project
Skukum Creek Project
New Pacific Metals Corp.’s recently acquired Tagish Lake Gold Property is a near-term gold and silver opportunity in Yukon, Canada. Silvercorp Metals Inc. (TSX: SVM), the primary silver producer in China, is the major shareholder. With a strong balance sheet, no debt and experienced management, the Company is well positioned to build shareholder value through discovery and resource development.
Dr. Rui Feng — CEO & Director, Chairman & CEO of Silvercorp Metals Inc. (SVM: TSX/NYSE).
The Hon. Jack Austin — Chairman: Over 40 years of experience in law, business, public service and politics. Mr. Austin has had a diversified career and has expertise in cross-cultural communications and business development.
Greg Hawkins — Director: Involved in the mining exploration and investment industry since 1969. He has been the founding project consultant and/or founding director of seven public and private exploration/development ventures.
David Kong — Director: Chartered Accountant designation in BC and was a partner of Ellis Foster Chartered Accountants, between 1981 and 2004, and a partner of Ernst & Young LLP from 2005 to 2010.
Dr. Robert Kerrich — Director: 30 years consulting experience in the mineral industry on gold and base metals and has been the George McLeod research chair at the Department of Geological Sciences of the University of Saskatchewan.
Xianda (Sander) Wang, Ph.D., Geology
Dr. Wang is responsible for all of New Pacific Metals' exploration and development activities. Dr. Wang has extensive experience in managing exploration and mining development projects as a Vice President of Exploration for Canadian public traded companies and for Chinese controlled private companies. Dr. Wang obtained a PhD in Structural Geology and Petrology from the University of Salzburg (Salzburg, Austria) having obtained a Bachelor of Sciences in Geology and Masters of Sciences in Structural Geology from the China University of Geosciences located in Wuhan City, Hubei Province, China.
Albert Siega, P.Eng., MBA
Mr. Siega has 20 years of experience in the mining industry with Golder Associates, Century Mining, Hunter Dickinson, Areva, and Syncrude. His experience includes all aspects of underground and open pit mine engineering, economic analysis, and reserve estimation.
Alex Zhang, M.Sci., M.Eng.
Chief Exploration Geologist
Mr. Zhang has 20 years of experience and has worked with Eldorado Gold, Afcan Mining, and Sino Gold. He supervised the exploration activities of two major gold projects from exploration through development to production, and brings a full range of technical and managerial skills related to exploration project, data collection and validation, drill database setup, 3D modeling of geology bodies, block modeling, and other technical aspects of exploration projects.
Maria Tang, C.A., C.P.A.
Chief Financial Officer
Ms. Tang earned a Bachelor of Science degree from the Nankai University, China, holds both a CA and US CPA designation, and has five years audit experience, most recently with Ernst & Young LLP where she focused on public company audits with China operations and was in charge of SOX 404 audits for U.S. public companies.
Peter Torn, MBA, LL.B.
Peter Torn has 20 years working with various companies in Europe, Asia and the US. He is a securities and corporate commercial lawyer and a current member of the British Columbia Law Society. Mr. Torn has been involved in a wide range of corporate and securities matters, including mergers and acquisitions, takeovers, corporate reorganizations, joint ventures, cross-border transactions, stock exchange listings, initial public offerings, public and private financings, and securities regulatory issues. He has a MBA and LLB from the University of British Columbia.
Through 2011, the Company plans to initiate an aggressive program to move the newly acquired Tagish Lake Gold (TLG) Property towards timely gold and silver production. A highly experienced team with expertise in gold exploration, mine development, mining and metallurgy, as well as community development and the environment, is being assembled to bring the Company’s existing gold and silver resources to development and discover new ones. High priority will be given to compiling, reviewing, and synthesizing the vast amount of drill core and surface exploration results amassed from three decades of exploration and underground development. This work will underpin a major surface and underground drilling campaign to explore the priority targets generated during the data review. The Company also intends to file for additional permits to support on-going exploration and development on the TLG Property, and will initiate a major program directed to permitting a mine and mill, including First Nations consultations, community, government and stakeholder engagement, and a wide variety of hydrological, wildlife socio-economic and other studies necessary to support a mining application.
Why Yukon, Canada
- World class gold/silver deposits
- Under-explored mineral potential
- Stable, mining-friendly jurisdiction
- 100 years of metal mining history
- First Nations and regulatory certainty
New Pacific acquired the Tagish Lake Gold Property in 2010 through the 100% acquisition of Tagish Lake Gold Corp., which is continuing as a wholly owned subsidiary of New Pacific. The Tagish Lake Gold Property is located 80 kilometres by road south of Whitehorse, Yukon, Canada, and consists of 982 mineral claims covering about 178 square kilometres.
Three geographically distinct projects have been identified within the property:
- Mt. Skukum
- Skukum Creek
- All-weather access road, extensive underground workings and roads to each project
- 300 tonne per day mill, a tailings reclamation site, service buildings and an all-weather 50-person camp
The Mt. Skukum Project includes the past-producing Mt. Skukum Mine where gold is associated with epithermal quartz-carbonate veining occurring in three main zones within the Mt. Skukum Volcanic Complex. The Main Cirque Zone occurs within a 200 metre length of the Main Cirque Fault and was mined from 1986 to 1988, producing 77,796 ounces of gold. The Main Cirque Zone narrows at depth and bottoms out in a quartz-carbonate stockwork. The Lake Zone is located 500 metres northwest of the Main Cirque Zone and consists of three steeply dipping sub-parallel veins that contain abundant breccia overgrown by calcite and quartz and, locally, sulphide minerals including sphalerite, galena and chalcopyrite.
- Gold-Silver mineralization related to the quartz-sulphide breccia zones developed in granite
- High grade gold-silver ore bodies pinch & swell in the breccia zone down dip and along strike
- Mineralization extends over 400 m down dip and is open at depth
Six zones of mineralization have been identified and these occur as veins in faults and/or shear zones associated with the northeast trending Berney Creek Fault. These zones typically attain widths of 1 to 10 metres, although they can be 20 up to metres wide where two or more zones intersect. Gold and silver mineral resources have been developed in the Ridge, Kuhn, Rainbow, Rainbow 2 and Berg zones at Skukum Creek. Measured plus indicated NI 43-101 mineral resources for Skukum Creek are 1,066,000 tonnes grading 6.4 g/t gold and 187 g/t silver with an inferred mineral resource of 206,000 tonnes grading 6.8 g/t gold and 157 g/t silver.
- Gold mineralization formed along two rhyolite dykes (G.G. Zone and P.D. Zone)
- New interpretation of drill hole cross sections suggests that the P.D. Zone and G.G. Zone merge at depth
- Gold mineralization intensifies in the “Merged Zone”, yielding a thicker mineralized interval
- Both the upper P.D. Zone (above G.G. Zone) and the “Merged Zone” remain largely untested and open in all directions
For further information:
New Pacific Metals Corp.
Phone (604) 633-1368, or send inquiries to:
Corporate Profile on Stockhouse