New Pacific Metals Corp. (TSX: NUAG) (NYSE American: NEWP) has signed Administrative Mining Contracts for its approximately 39-square-kilometre Carangas Silver-Gold Project in Bolivia. The 30-year contracts were signed with the Bolivia Administrative Mining Jurisdictional Authority on Aug. 21, 2026, and will now be submitted to the Plurinational Legislative Assembly of Bolivia for ratification and approval as the next step toward formally obtaining mining tenure. The company announced the signing in a press release, which can be viewed at https://ibn.fm/bOLji.
The Carangas project is located in the Oruro department of Bolivia and is one of two precious metals projects the Canadian company is advancing in the country. New Pacific also said its approximately 30,000-metre 2026 Carangas drill program is scheduled to begin the week of Sept. 8, with approximately 25,000 metres focused on upgrading mineral resources in the silver and gold zones and the balance targeting potential extensions and new targets. The program will also gather data for the planned feasibility study, including metallurgical samples and geotechnical and hydrological drilling.
This development matters for several reasons. The signing of the 30-year contracts represents a significant milestone for New Pacific, moving the project closer to formal mining tenure. If ratified by Bolivia’s Plurinational Legislative Assembly, the contracts would provide long-term security for the project, which is essential for attracting further investment and advancing development. The drill program is equally important, as it aims to upgrade existing mineral resources and test new targets, potentially expanding the scale and economics of the project. The data collected will feed into a feasibility study, a critical step in determining whether the project can be developed into a producing mine.
For the broader mining industry, the announcement underscores Bolivia’s potential as a jurisdiction for precious metals exploration and development. New Pacific’s near-decade of operating experience in Bolivia has earned the confidence of stakeholders and shareholders, according to the company. The Carangas project strengthens New Pacific’s portfolio through scale, robust economics, and regional exploration potential. The company’s Silver Sand project in Potosí has the potential to become one of the world’s largest silver mines.
Investors and industry observers will be watching the ratification process and the results of the drill program closely, as they could have implications for New Pacific’s growth trajectory and for Bolivia’s mining sector more broadly. The latest news and updates relating to NEWP are available in the company’s newsroom at http://ibn.fm/NEWP.
