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'Strong Infill Drill Results' from Mining Company's Silver Project in Bolivia
Research Report

Source:

The findings are presented and discussed in a BMO Capital Markets report.

Silver Sand

In an Aug. 27 research note, BMO Capital Markets analyst Ryan Thompson reported that "drill results continue to show the potential for New Pacific Metals Corp.'s (NUAG:TSX.V; NUPMF:OTCQX) Silver Sand to be a large open-pit project."

Thompson relayed the results from another 20 Silver Sand infill holes drilled to a density of 25 by 25 meters (25m by 25m) to confirm the continuity of mineralization in specific areas drilled last year. Results from those demonstrated wide zones of mineralization.

Highlight hole DSS525006, for instance, "intersected an impressive 166m grading 204 grams per ton (204 g/t) silver, with a subzone intersecting a very robust 45m grading 641 grams per ton," Thompson indicated.

He pointed out that the grades that came in were higher than BMO expected. It estimated that assay results from this latest set of holes returned a length-weighted average grade of 97 g/t silver over an average length of 71m. This compares to BMO's previously assumed resource grade of 85 g/t.

Looking forward, with a fourth rig now drilling at Silver Sand, the company aims to release an initial resource estimate for the project at year-end 2019, noted Thompson.

BMO has an Outperformer rating and a CA$3.75 per share price target on New Pacific Metals. This reflects about a 25% potential return as the stock is now trading at around CA$2.99 per share.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures from BMO Capital Markets, New Pacific Metals Corp., August 27, 2019

IMPORTANT DISCLOSURES

Analyst's Certification
I, Ryan Thompson, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.

Analysts employed by BMO Nesbitt Burns Inc. and/or BMO Capital Markets Limited are not registered as research analysts with FINRA. These analysts may not be associated persons of BMO Capital Markets Corp. and therefore may not be subject to the FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account.

Company Specific Disclosures
Disclosure 16: A research analyst has extensively viewed the material operations of New Pacific Metals Corp.
Disclosure 17: New Pacific Metals Corp has paid or reimbursed some or all of the research analyst's travel expenses.

For Important Disclosures on the stocks discussed in this report, please click here.

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