Nova Pacific Metals Corp Stock Price, News & Analysis

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has engaged Mineit Consulting Inc. and Sacré-Davey Engineering Inc. to conduct a comprehensive analysis of its Lara polymetallic volcanogenic massive sulfide (VMS) property. The project aims to analyze data from 323 drill holes, create a geological model, and design an exploration program to increase tonnage and grade of the Lara Project resource.

The project will be carried out in two phases, with the first phase including a review of existing data, recommendations for improving the mineral resource estimate, and identification of areas for additional exploration drilling. Up to 40 new drill hole locations will be recommended to further identify the deposit's potential.

Nova Pacific has also announced that it will not renew the claims for its Deer Musk West lithium project in Nevada, making the Lara Project its sole property. The company intends to focus all its efforts and resources on advancing the Lara Project.

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has appointed geoscientist David Mark, P. Geo., as a director of the Company. Mr. Mark brings over 56 years of experience in mining exploration, geotechnical, and environmental geophysics. He is currently the head of Geotronics Consulting Inc., which offers various services including seismic surveys, induced polarisation, and project management.

CEO Malcolm Bell expressed excitement about Mark's addition to the Board, citing his expertise in the mineral exploration sector. David Mark believes he can contribute significantly to the exploration and development of the Lara Project, which he considers analogous to the notable Myra Falls deposit. In connection with the appointment, Nova Pacific granted Mr. Mark 125,000 incentive stock options, exercisable at $0.37 per share for five years.

Nova Pacific Metals has announced a non-brokered private placement to raise up to $2,000,000. This offering involves issuing up to 8,000,000 units at $0.25 per unit, each consisting of one common share and one warrant. Each warrant allows purchase of an additional share at $0.40 within two years. An acceleration clause is included, enabling Nova Pacific to shorten the exercise period if shares trade at or above $0.90 for 10 consecutive days. CEO J. Malcolm Bell noted that funds will support an infill drilling program for the Lara project, potentially leading to a prefeasibility study. Proceeds will also be used for general purposes and working capital. Securities are subject to a four-month statutory hold period. Finder's fees up to 8% and broker warrants may be issued.

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has provided an update on its Lara Gold-Silver-Zinc-Copper Project. A compilation of historic drill hole data from the Coronation Zone has revealed high-grade precious metal assays associated with significant base metal intersections. The Lara deposit is modeled as six discrete zones with a total strike length of approximately 1,180 meters.

Key highlights include:

• Over 323 drill holes totaling 58,262 meters from 1980s work by Laramide Resources
• High-grade intersections of up to 17.46 meters with significant gold, silver, zinc, copper, and lead content
• Plans for a 40-hole in-fill drill program to calculate a measured and indicated mineral deposit
• Goal to revitalize the Lara project and bring it into production, subject to studies and permitting

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has announced the results of its Annual General Meeting (AGM) held on August 8, 2024. Shareholders re-elected all five directors with over 99% approval and reappointed De Visser Grey LLP as the company's auditor. The company's audited financial statements for the year ending June 30, 2023, were received without objection.

Additionally, Nova Pacific has launched a new website at www.novapacificmetals.com to provide timely information about its operations and value proposition. CEO J. Malcolm Bell emphasized the importance of presenting a clear overview of exploration activities at their flagship Lara project to help stakeholders assess the company's assets and potential.

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has completed a Mobile Metal Ion (MMI) orientation survey at the Lara volcanogenic massive sulphide (VMS) deposit in British Columbia, Canada. The survey, conducted over the Coronation Zone, aimed to test MMI's effectiveness in detecting deeply buried mineral deposits.

Key points:

• The Lara Property comprises 4 mineral claims (~1848.1 ha) and is road accessible year-round.
• MMI sampling was carried out on a small grid over known mineralization.
• Results showed a strong correlation between underlying mineralization and surface MMI data.
• A strong multi-element anomaly was detected, striking easterly for 125 meters and southerly for 200 meters.
• The anomaly correlates well with the massive sulphide mineralization of the Coronation Zone.

Nova Pacific's CEO, Malcolm Bell, stated that these results will be valuable for evaluating known mineralizing trends outside of existing zones.

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has filed an NI 43-101 compliant technical report on its Lara project, a polymetallic VMS deposit in British Columbia, Canada. The report validates the 2007 resource estimates and highlights significant mineralization in the Coronation Zone. Key findings include:

- Indicated resource: 1,146,700 tonnes at 3.01% Zinc, 32.97 g/t Silver, 1.05% Copper, 0.58% Lead, and 1.97 g/t Gold (1% Zinc cut-off)

- Extensive exploration history: 323 drill holes totaling 58,262.69 meters

- High-grade mineralization: One massive sulphide lens graded 24.58 g/t Au, 513.6 g/t Ag, 3.04% Cu, 43.01% Zn, and 8.30% Pb across 3.51 m

The report recommends 40 short drill holes totaling 6,000m to initiate a modern resource estimate and enable pre-feasibility studies.

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) has submitted a Notice of Work application for a multi-year, area-based permit to construct up to 50 drill pads on its Lara VMS property. The target is the Coronation Zone, where historic drilling found significant massive to semi-massive sulphide mineralization across widths up to 16 meters. CEO Malcolm Bell emphasized the importance of this step for shareholders.

The company also announced a 3-month marketing agreement with Echo Elite Ads for $40,000 per month to enhance Nova Pacific's online visibility and investor reach. The agreement can be extended monthly and the advertising budget increased. Echo is at arm's length to Nova Pacific and owns no company securities.

Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) began trading on the OTCQB Venture Market, emphasizing its aim to broaden its investor base and enhance visibility in the U.S. market. The company's shares will also continue to trade on the Canadian Securities Exchange under the symbol 'NVPC'. CEO J. Malcolm Bell highlighted the strategic importance of the U.S. market for companies in the critical and precious metal exploration sector.

The OTCQB market provides a transparent trading environment for entrepreneurial and development-stage companies, requiring them to be current in their reporting and undergo annual verification. Additionally, Nova Pacific granted 210,000 incentive stock options to certain directors, each priced at $0.25 per share and valid for five years.