Nova Pacific Provides Drilling Update at Lara Project
- Addition of second drill rig to accelerate exploration program
- Visible massive sulphide and sulphide vein mineralization identified in drill cores
- 58% completion of Phase 1 drilling program (21 of 39 planned holes)
- Four drill holes sent for rush assaying, indicating potential significant findings
- None.
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) ("Nova Pacific" or the "Company") is pleased to provide a further update on the Company's ongoing 8,500-metre Phase 1 exploration drill program at its Lara Volcanogenic Massive Sulphide (VMS) Project located on Vancouver Island, British Columbia.
Highlights:
Drilling continues: 21 out of 39 planned drillholes have now been completed (4,953m).
Second drill rig added: A second rig has been added to accelerate the program.
Assay results are pending: 7 drillholes have been sampled and shipped to ALS.
Sam Eskandari, the Company's CEO, stated, "We're pleased with the continued progress of our Phase 1 drill program at Lara and the momentum we've built by adding a second rig. Our team is working hard to advance the program efficiently, and while we await assays from the initial holes, the additional drilling will help us refine our understanding of the mineralized zones and target extensions to known mineralization. We look forward to updating shareholders as more results come in."
Phase 1 Drill Program Continues at the Coronation Area of the Lara Project
Nova Pacific's Phase 1 program is focused on completing approximately 8,500 metres of drilling across 39 holes. Drilling commenced in May 2025, with 4,953 metres completed in 21 NQ-sized diamond drillholes to date. Drilling continues, and the addition of a second drill rig is expected to accelerate the program. In logged drill cores, sections of visible massive sulphide and sulphide vein mineralization have been identified within altered felsic volcanics of the Sicker Group.
Assay Results Pending
The 7 drillholes have been sampled and shipped to ALS Geochemistry in North Vancouver, 4 of which were sent for rush assaying. Core processing is ongoing with a third sample shipment being prepared.
Phase 1 Program
The Phase 1 drill program has two primary objectives:
Confirming Historical Drilling: The Company plans to confirm the presence and extent of the mineralization that was included in historical resource estimates. This drilling will provide additional geological data, incorporating comprehensive assay techniques and quality control measures to align with industry standards.
Demonstrating Expansion Potential: Beyond confirmation drilling, the Company is also testing recently identified high-priority potential extensions to the known mineralization along the Coronation Trend.
Figure 1: Second drill rig on site at the Lara Project.
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Stock Option Grants
In addition, Nova Pacific announces that the Company has granted an aggregate of 650,000 incentive stock options to certain consultants and advisory board members, each of which vests immediately, is exercisable into one common share of the Company at a price of
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by David Nelles, P.Geo., who is a consultant to the Company and a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Rights of Indigenous Communities Statement
Nova Pacific pursues early and meaningful engagement with First Nations communities to ensure that the Company's mineral exploration and development activities are well co-ordinated and broadly supported by addressing local priorities and concerns, while optimizing opportunities for collaboration. In particular, the Company seeks to establish mutually beneficial partnerships with indigenous groups within whose traditional territories the Company's projects are located. All work programs are carefully planned to achieve high levels of environmental and social performance.
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. Nova Pacific holds an option to acquire a
For additional information please visit: www.novapacificmetals.com
On behalf of the Board of Directors
Sam Eskandari, CEO
For investor inquiries, or for further information, please contact:
Nova Pacific Metals Corp.
+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 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. The Company's actual results could differ materially from those anticipated in this forward‐looking information.
Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans; statements regarding exploration results, potential mineralization, or verification of historical drilling results; the Company's plans to execute and complete its Phase 1 drill program including the completion of a current mineral resource estimate; exploration and mine development plans; and the timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to intersect potentially economic intervals of mineralization; failure to identify mineral resources; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; inability to fulfill the duty to accommodate First Nations and other Indigenous peoples; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; capital and operating costs varying significantly from estimates; and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. 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
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