Bolivia's Andean metallogenic belt, long known for its silver bounty, has found few world-class copper and gold deposits such as those found in mineral-rich Peru and Chile to the west. According to metallogenic zoning, silver deposits are generally located in the upper part of the metallogenic system, while gold and copper deposits are mostly located in the deep. Geologists speculate that Bolivia's metallogenic system is not deep enough to denudate, the deep gold and copper deposits are not exposed, which is an important reason why Bolivia's deep gold and copper prospecting has not attracted the attention of many mining companies in history. That history is now set to be rewritten by NewPacific Metals' discovery of a large porphyry gold deposit deep inside the Carangas silver mine.
New Pacific Metals, a Canadian company, announced today that it has made a breakthrough in the exploration of its Colanga project in Oruro Province, Bolivia, with the discovery of a large porphyry gold deposit at a depth of 595 meters, 1.3 g/t gold. In 2021, the company conducted a mineral survey in an area of 1,000 meters long and 700 meters wide in the Koranga project, and completed 35 drilling holes totaling 13,000 meters of drilling engineering, achieving good results of ore discovery through holes. In the pyroclastic rock strata within 200 meters of the surface, drilling has revealed large silver and lead ore bodies with a near-horizontal thickness of 40-200 meters, while five drilling RIGS with a depth of over 500 meters have also discovered thick gold ore bodies associated with rhyolitic volcanic rocks beneath the silver ore beds.
