Nova Pacific Metals Extends the Strike Length of the Lara Project to 17 KM
Nova Pacific Metals (NVPCF) has expanded its Lara Project by staking two additional claims (B&B 4 and 5) totaling 912.38 hectares. The expansion extends the company's control of highly prospective stratigraphy to 17 kilometers along the McLaughlin Ridge Formation, host to the Lara VMS deposit.
Historical exploration data reveals significant findings in the newly acquired area, including samples with up to 2.34 g/t Au and 2.000% Cu. The company has submitted a drill permit application for up to 10,000 meters in 50 diamond drill holes, with recent completion of a flow-through financing of $2,640,540 to fully fund the program.
Nova Pacific aims to establish an updated Mineral Resource Estimate by mid-summer, focusing initially on drill confirmation of the Lara deposit while developing targets for future drill programs.
Nova Pacific Metals (NVPCF) ha ampliato il suo Progetto Lara registrando due ulteriori concessioni (B&B 4 e 5) per un totale di 912,38 ettari. L'espansione estende il controllo dell'azienda su una stratigrafia altamente prospettica per 17 chilometri lungo la Formazione McLaughlin Ridge, che ospita il deposito VMS di Lara.
I dati storici di esplorazione rivelano scoperte significative nell'area recentemente acquisita, inclusi campioni con fino a 2,34 g/t Au e 2,000% Cu. L'azienda ha presentato una domanda per un permesso di perforazione fino a 10.000 metri in 50 fori di perforazione a diamante, con il recente completamento di un finanziamento flow-through di $2.640.540 per finanziare completamente il programma.
Nova Pacific mira a stabilire una stima aggiornata delle risorse minerarie entro metà estate, concentrandosi inizialmente sulla conferma della perforazione del deposito di Lara mentre sviluppa obiettivi per futuri programmi di perforazione.
Nova Pacific Metals (NVPCF) ha ampliado su Proyecto Lara registrando dos concesiones adicionales (B&B 4 y 5) que totalizan 912.38 hectáreas. La expansión extiende el control de la compañía sobre una estratigrafía altamente prospectiva a lo largo de 17 kilómetros de la Formación McLaughlin Ridge, que alberga el depósito VMS de Lara.
Los datos históricos de exploración revelan hallazgos significativos en el área recién adquirida, incluidos muestras con hasta 2.34 g/t Au y 2.000% Cu. La empresa ha presentado una solicitud de permiso de perforación para hasta 10.000 metros en 50 agujeros de perforación de diamante, con la reciente finalización de un financiamiento flow-through de $2,640,540 para financiar completamente el programa.
Nova Pacific tiene como objetivo establecer una estimación de recursos minerales actualizada para mediados del verano, centrándose inicialmente en la confirmación de perforación del depósito de Lara mientras desarrolla objetivos para futuros programas de perforación.
노바 퍼시픽 메탈스 (NVPCF)는 라라 프로젝트를 확장하여 두 개의 추가 청구권(B&B 4 및 5)을 등록하여 총 912.38 헥타르에 이릅니다. 이 확장은 17킬로미터에 걸쳐 맥클라우린 리지 형성의 높은 잠재력을 가진 지층에 대한 회사의 통제를 확대합니다. 이곳은 라라 VMS 매장층이 있습니다.
역사적인 탐사 데이터는 새로 인수한 지역에서 2.34 g/t Au 및 2.000% Cu에 이르는 샘플을 포함한 중요한 발견을 보여줍니다. 회사는 10,000미터에 걸쳐 50개의 다이아몬드 드릴 홀에 대한 시추 허가 신청을 제출했으며, 최근 $2,640,540의 흐름을 통한 자금 조달을 완료하여 프로그램을 완전히 자금 지원할 예정입니다.
노바 퍼시픽은 여름 중반까지 업데이트된 광물 자원 추정치를 수립하는 것을 목표로 하며, 초기에는 라라 매장층의 시추 확인에 집중하고 향후 시추 프로그램을 위한 목표를 개발할 예정입니다.
Nova Pacific Metals (NVPCF) a élargi son Projet Lara en enregistrant deux revendications supplémentaires (B&B 4 et 5) totalisant 912,38 hectares. L'expansion prolonge le contrôle de l'entreprise sur une stratigraphie hautement prospective sur 17 kilomètres le long de la Formation McLaughlin Ridge, qui abrite le gisement VMS de Lara.
Les données historiques d'exploration révèlent des découvertes significatives dans la zone nouvellement acquise, y compris des échantillons contenant jusqu'à 2,34 g/t Au et 2,000% Cu. L'entreprise a soumis une demande de permis de forage pour jusqu'à 10 000 mètres dans 50 trous de forage diamant, avec l'achèvement récent d'un financement par flux de 2 640 540 $ pour financer entièrement le programme.
Nova Pacific vise à établir une estimation mise à jour des ressources minérales d'ici la mi-été, en se concentrant initialement sur la confirmation par forage du gisement de Lara tout en développant des cibles pour de futurs programmes de forage.
Nova Pacific Metals (NVPCF) hat sein Lara-Projekt erweitert, indem es zwei zusätzliche Ansprüche (B&B 4 und 5) mit insgesamt 912,38 Hektar registriert hat. Die Erweiterung erstreckt sich über 17 Kilometer entlang der McLaughlin Ridge Formation, die das Lara VMS-Lager beherbergt.
Historische Erkundungsdaten zeigen bedeutende Funde im neu erworbenen Gebiet, darunter Proben mit bis zu 2,34 g/t Au und 2.000% Cu. Das Unternehmen hat einen Antrag auf eine Bohrgenehmigung für bis zu 10.000 Meter in 50 Diamantbohrlöchern eingereicht, mit dem kürzlichen Abschluss einer Flow-Through-Finanzierung von 2.640.540 $, um das Programm vollständig zu finanzieren.
Nova Pacific plant, bis zur Mitte des Sommers eine aktualisierte Schätzung der Mineralressourcen zu erstellen, wobei der Schwerpunkt zunächst auf der Bohrbestätigung des Lara-Lagers liegt, während Ziele für zukünftige Bohrprogramme entwickelt werden.
- Secured $2.64M in flow-through financing for drill program
- Property expansion adds 912.38 hectares to existing claims
- Historical samples show promising grades up to 2.34 g/t Au and 2% Cu
- Drill permit application for 10,000 meters progressing favorably
- Northwest 7km of strike length remains largely underexplored
- Drill permits still pending approval
- No current mineral resource estimate available
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce the staking of two additional claims (B&B 4 and 5) totaling 912.38 hectares contiguous with the existing property outline (Figure 1), following the completion of Dr. Tom Setterfield's in-depth analysis of historical exploration results to the west of the Lara deposit.
Figure 1. Lara Project Location with the Two New Claims B&B 4 and 5
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The northwest part of the property is predominantly underlain by the McLaughlin Ridge Formation, host to the Lara deposit and other volcanogenic massive sulphide (VMS) mineralization along strike. Nova Pacific now controls 17 km of this highly prospective stratigraphy. The northwest 7 km of strike length has received much less exploration attention than the southeast 10 km.
The prospectivity of the part of the property is highlighted by the following (Figure 2):
- The northwest-trending McDougall Vein comes to within 500 m of the northwest part of the property; this vein has produced grab samples with up to 182 g/t Au and 86.5 g/t Ag (ARIS 13568). A jasper-rich ± magnetite iron formation, with up to 0.72 g/t Au,
0.51% Cu and 2.9 g/t Ag (different samples) is within 250 m of the property to the west (ARIS 16802).
- In 1983, Canamin Resources explored a property straddling the northwest corner of the present Lara property. Canamin Resources collected 65 soil samples 15 of which were on the Nova Pacific property. One of the samples ran 309 ppm Cu, the highest value from the survey (ARIS 11401).
- A brief property visit in 2001 resulted in the collection and description of five samples. Two examples of quartz-sericite-pyrite schist were noted from the McLaughlin Ridge Formation, as was an outcrop of "quartz-magnetite-chlorite stockwork" (ARIS PF006208).
- In 2011, Rock-Con Resources collected five rock samples from the present property. One sample ran 2.34 g/t Au, and two other samples ran
2.000% and1.845% Cu respectively (ARIS 32279). All samples were from the newly staked ground and within the McLaughlin Ridge Formation. Also in 2011, Rock-Con conducted a soil survey covering parts of these western claims. The survey consisted of lines 100 m apart, with a sample spacing of 50 m along the lines. They noted two significant semi-coincident Cu-Zn anomalies and four, single-site gold anomalies; gold in these anomalies varied from 27 to 139 ppb in a background of samples which were mostly below the detection level (5 ppb; ARIS 32850).
Figure 2. Features of the Northwest Part of the Lara Property
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Drill Permit Application: In July 2024, the Company announced the submission of a drill permit application for up to 10,000 meters in 50 diamond drill holes. The application has progressed favourably, and the Company is optimistic that a permit will be issued in the near future. The Company recently completed a flow-through financing of
J. Malcolm Bell, Nova Pacific's CEO, commented, "Since the acquisition of the initial Lara claims, host to the historic Lara VMS deposit, the Company has continued to expand the project size which today represents a significant, 17 km long, land position within the highly favourable Sicker Group of rocks. While our current focus in the near term is to get underway with drill confirmation of the Lara deposit, we will continue to develop targets for future drill programs. Our drill program is intended to establish an updated Mineral Resource Estimate for presentation by mid summer."
Qualified Person
David Nelles, P.Geo., a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and verified the scientific and technical data contained in this news release.
Rights of Indigenous Communities Statement
Nova Pacific operates on the Traditional, Ancestral and Unceded Territory of the Stz'uminus and Hul'qumi'num Treaty Group, a politically unified group that represents six Hul'qumi'num-speaking First Nations: Cowichan, Penelakut, Lyackson, Halalt, and Lake Cowichan.
The Company's entire team is committed to establishing lasting relationships with local communities by fostering inclusion and contributing to a shared prosperity.
About Nova Pacific
Nova Pacific is a Canadian exploration and development company focused on the Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia. This brownfields development project boasts a significant historic resource rich in critical and precious metals situated in a prime location with excellent infrastructure. Nova Pacific's forward-looking strategy includes confirmation and infill drilling, completion of an updated mineral resource estimate (MRE) and preparation of a Pre-Feasibility Study if and as required. The Company is committed to creating value for its shareholders while maintaining environmental responsibility and strong community relationships.
For additional information please visit: www.novapacificmetals.com
On behalf of the Board of Directors
J. Malcolm Bell
Chief Executive Officer, Director
Investor inquiries, or for further information, please contact:
Nova Pacific Metals Corp.
info@novapacificmetals.com
+1-416-918-6785
The Canadian Securities Exchange has not in any way passed upon the merits of the matters referenced herein and has neither approved nor disapproved the contents of this news release.
Forward-Looking Information
Certain statements contained in this news release may constitute forward‐looking information including, without limitation, statements regarding the Company's exploration plans. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company's actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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FAQ
What is the new total strike length of Nova Pacific's (NVPCF) Lara Project after the recent expansion?
How much funding did NVPCF secure for their planned drill program at the Lara Project?
What are the highest gold and copper grades found in historical samples from NVPCF's newly staked ground?
When does NVPCF expect to complete the updated Mineral Resource Estimate for the Lara Project?
