A 10,000 metre surface diamond drilling program to test the extent of the known mineralized zone at New Pacific Metals’ newly acquired RZY Silver, Lead and Zinc Project has commenced.
The Canadian gold and silver company says this program is a major part of its 2013 exploration schedule which aims to develop a better understanding of the nature of mineralization at the site in Qinghai province.
Historical assay results of trench, pit sampling and limited drilling indicated the presence of high grade silver-lead-zinc mineralization at RZY. Multiple silver-lead-zinc mineralized zones are hosted in a broad altered structure zone with a strike extent of 6.5km and width of 25 to 100 metres.
The $3 million exploration program will also include a surface grid soil survey and a geophysics survey to define future drill targets. New Pacific is sourcing drilling equipment and preparing other resources necessary for the exploration.
Last year, seven trenches were completed by RZY’s previous owner and assay results from the trenches confirmed the presence of high grade silver-lead-zinc mineralization as indicated by the historical results. Five drill holes over 890 metres were drilled last year to test the potential depth of the mineralization exposed by surface workings.
The assay results of the drill core samples indicated that the mineralization occurs in the major east-west structural zones and continues at depth, although the width and grades of the drill intercepts were inferior to the results of the surface trenches and pits. Nevertheless, New Pacific believes there is enough evidence to justify continued exploration at the project in 2013.
RZY is an early stage silver-lead-zinc exploration project about 237km from the capital of Yushu Tibetan Autonomous Prefecture or 820km via paved highway from Qinghai’s capital city of Xining.