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, Ph.D. Geology
CEO & Director
Dr. Feng has worked as both a geologist and an executive in the mineral resource industry for over 17 years and is the current CEO, Chairman and director of Silvercorp Metals Inc. He is an entrepreneur with an extensive track record in successfully acquiring and exploring mineral properties and ultimately turning them into profitable mining operations. Dr. Rui Feng obtained his B.Sc. and M.Sc. degrees in Geology in China and his Ph.D. in Geological Sciences from the University of Saskatchewan in Canada in 1992. He was awarded a Post-Doctoral Fellowship from the National Engineering and Science Council of Canada from April 1992 to April 1993 to work as a Research Scientist at the University of Montreal. From 1993 to 1994, Dr. Feng worked for the Institute of Sedimentary and Petroleum Geology of the Geological Survey of Canada in Calgary as research scientist.
Hon. Jack Austin, P.C., Q.C., B.A., LL.B., LL.M., Doc: Soc.Sci.(Hon)
The Honourable Jack Austin has 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. He has been a barrister and solicitor in the Province of British Columbia since 1958, practiced law for over 20 years and served as legal counsel to various corporations. Mr. Austin served as a senator in the Senate of Canada, representing British Columbia from August 1975 to March 2007. Mr. Austin served in the Cabinets of each of Prime Minister Trudeau and Prime Minister Martin. Since May 2008, Mr. Austin has served as a director and Chairman of New Pacific. Mr. Austin was a director and Chairman of Naikun Wind Energy Group Inc. from April 1989 to December 2003 and a director of Allied Pacific Properties & Hotels Inc. from May 1996 to December 2003. Mr. Austin was also a director of Act 360 Solutions Ltd. from May 2003 to December 2003, a director of China Education Resources Inc. from July 2000 to December 2003 and director and President of Austpro Energy Corporation from November 1990 to December 2003. Each of these companies was listed on the TSX Venture Exchange. Mr. Austin obtained a degree in Economics (B.A.) in 1954 and a Bachelor of Laws (LL.B.) degree in 1955 from the University of British Columbia, and a Master of Laws (LL.M.) degree in 1957 from the Harvard Law School in International Trade Law.
Greg Hawkins, B.Sc. Geology, M.Sc. Mineral Economics
Greg Hawkins has been involved in the Mining Exploration and Investment industry since 1969. He has been variously responsible for the identification and/or delineation of 10 mineral deposits (Gilt Edge, Andacolla, Kubi Village, Tabakoto, Twangiza, Namoya, Skukum Creek, Goddell Gulley, Kobada and Harper Creek) in Canada, USA, Chile, Ghana, Mali and Zaire (DRC). In acting as Founding Project Consultant and/or Founding Director of seven public and private Exploration/Development ventures (Brohm Mining Inc., Dayton Mining Inc., Nevsun Resources Ltd., Banro Resource Corp., Tagish Lake Gold Corp., African Gold Group Inc. and Yellowhead Mining Inc.) he has participated in or been responsible for the definition of at least one reserve in every case with four cases that have resulted in production in the USA, Chile, Ghana and Mali. He has lived in Canada, Nigeria and Ghana while pursuing his career. In 1990 he started CME, an international full service consultancy and contracting network which included Spectral International Geophysics, Eagle Drilling and ATS Inc. The Network has served over 100 clients in 17 countries and has employed over 3000 people. He is the author and presenter of a number of exploration papers on exploration, exploration philosophy and mineral economics since 1979. In 2004 he was awarded the Frank Woodside Past Presidents Award by the British Columbia and Yukon Chamber of Mines in recognition of his outstanding contribution to the mining industry. He holds a BSc in Geology from the University of Alberta and an MSc in Mineral Economics from McGill University.
David Kong, CA, CPA (Illinois), ICD.D
Mr. Kong was born in Malaysia where he completed his high school education. He earned his Bachelor degree in Business Administration in Taiwan and spent two years working in Singapore. Mr. Kong immigrated to Canada in the mid 1970’s where he studied marketing in the University of British Columbia’s MBA program. Mr. Kong then earned his Chartered Accountant designation in British Columbia in 1978 and his U.S. CPA (Illinois) designation in 2002. From 1981 to 2004, he was a partner of Ellis Foster Chartered Accountants, the largest independent accounting firm in British Columbia. Ellis Foster merged with Ernst & Young LLP in 2005 and retained Mr. Kong as a partner of Ernst & Young LLP from 2005 to 2010 where he led its Chinese market practice in Canada and focused on serving Canadian public companies doing business in China and Chinese public companies listed on the North American stock exchanges. During his over 30 years of public accounting/auditing career, Mr. Kong focused mainly in mining companies listed on the North American exchanges. Currently, Mr. Kong is a director of Silvercorp Metals Inc., Hana Mining Ltd., IDM International Limited, Uranium Energy Corp., and Brazil Resources Inc. Mr. Kong is a certified director (ICD.D) of the Institute of Corporate Directors.
Mr. Yan was appointed to the Board of Directors of New Pacific Metals Corp in May 2013. A geologist by profession, Mr. Yan has over 30 years of experience and prior to his retirement in 2011 he was the Chief Geologist at The Gold Headquarters for 11 years. He holds a Bachelors Degree in Geology with a major in Mineral Exploration and a Masters Degree in Economic Geology from Changchun College of Geology as well as a MBA from Florida State University. Currently, Mr. Yan is Vice Chairman of the China Gold Association and Vice President of the Geological Society of China.
Hongen Ma, M.Sci.
Hongen Ma is President of New Pacific Metals Corp. He is leading the exploration and development projects at the RZY project in Qinghai Province, China. Before joining New Pacific Metals Corp. he worked at Silvercorp Metals Inc. for over six years assisting in the development of its properties in China. Mr. Ma has a Masters in Science and Bachelor of Science from Peking University, China.
Maria Tang, CA, CPA
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