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New Pacific Metals Reports Signing of Administrative Mining Contracts for Carangas Project in Bolivia

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New Pacific Metals (NUAG.TO) reported the signing of administrative mining contracts for its Carangas silver-gold project in Bolivia after securing consent from local communities.

The contracts have a fixed 30-year term and will be submitted for legislative approval, the mineral exploration company said Wednesday.

After that, New Pacific aims to advance the project's environmental impact assessment process and other permitting and technical work.

New Pacific expects to commence a 30,000-meter drill campaign at Caranga in September.

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