Nova Pacific Metals Announces Major Expansion of Drill Program at Lara VMS Property Following Comprehensive Database Updates
Nova Pacific Metals (NVPCF) has announced a significant expansion of its drill program at the Lara VMS Project in British Columbia, increasing from 19 to 49 holes totaling 10,000 meters. This expansion follows a comprehensive database update that compiled historical data from 226 drill holes, including drill logs, surveys, and assays for zinc, silver, gold, barium, copper, and lead.
The company is fully funded with a $2.6 million budget for the expanded program, scheduled to commence in Q2 2025. The program aims to validate historical results and expand mineralization within the Coronation, Coronation Extension, and Hanging Wall Zones. The project benefits from its strategic location in British Columbia with access to infrastructure and major ports.
Nova Pacific Metals (NVPCF) ha annunciato un'importante espansione del suo programma di perforazione presso il Progetto VMS Lara in Columbia Britannica, aumentando da 19 a 49 fori per un totale di 10.000 metri. Questa espansione segue un'aggiornamento completo del database che ha compilato dati storici da 226 fori di perforazione, inclusi log di perforazione, sondaggi e analisi per zinco, argento, oro, bario, rame e piombo.
L'azienda è completamente finanziata con un budget di 2,6 milioni di dollari per il programma ampliato, previsto per iniziare nel Q2 2025. Il programma ha l'obiettivo di convalidare i risultati storici e di espandere la mineralizzazione all'interno delle zone di Coronation, Coronation Extension e Hanging Wall. Il progetto beneficia della sua posizione strategica in Columbia Britannica con accesso a infrastrutture e porti principali.
Nova Pacific Metals (NVPCF) ha anunciado una expansión significativa de su programa de perforación en el Proyecto VMS Lara en Colombiana Británica, aumentando de 19 a 49 pozos con un total de 10,000 metros. Esta expansión sigue una actualización integral de la base de datos que compiló datos históricos de 226 pozos de perforación, incluidos registros de perforación, encuestas y ensayos de zinc, plata, oro, bario, cobre y plomo.
La empresa está completamente financiada con un presupuesto de 2.6 millones de dólares para el programa ampliado, programado para comenzar en el Q2 de 2025. El programa tiene como objetivo validar los resultados históricos y expandir la mineralización dentro de las zonas de Coronation, Coronation Extension y Hanging Wall. El proyecto se beneficia de su ubicación estratégica en Colombiana Británica, con acceso a infraestructura y puertos principales.
노바 퍼시픽 메탈스 (NVPCF)는 브리티시컬럼비아의 라라 VMS 프로젝트에서 드릴 프로그램을 19개에서 49개 홀로 확대하여 총 10,000미터로 증가한다고 발표했습니다. 이번 확대는 226개의 드릴 홀에서 수집된 이력 데이터를 포함한 종합 데이터베이스 업데이트를 따른 것으로, 드릴 로그, 조사 및 아연, 은, 금, 바륨, 구리 및 납의 분석이 포함되어 있습니다.
회사는 확장된 프로그램을 위해 260만 달러의 예산으로 완전히 자금을 조달받았으며, 2025년 2분기에 시작될 예정입니다. 이 프로그램은 역사적인 결과를 검증하고 Coronation, Coronation Extension 및 Hanging Wall Zones 내에서의 광물화를 확장하는 것을 목표로 하고 있습니다. 이 프로젝트는 인프라와 주요 항구에 대한 접근성으로 인해 브리티시컬럼비아에서의 전략적 위치에서 혜택을 보고 있습니다.
Nova Pacific Metals (NVPCF) a annoncé une expansion significative de son programme de forage au Projet VMS Lara en Colombie-Britannique, passant de 19 à 49 trous pour un total de 10 000 mètres. Cette expansion fait suite à une mise à jour complète de la base de données qui a compilé des données historiques de 226 trous de forage, y compris des journaux de forage, des sondages et des analyses de zinc, d'argent, d'or, de baryum, de cuivre et de plomb.
L'entreprise est entièrement financée avec un budget de 2,6 millions de dollars pour le programme élargi, prévu pour commencer au Q2 2025. Le programme vise à valider les résultats historiques et à élargir la minéralisation au sein des zones de Coronation, Coronation Extension et Hanging Wall. Le projet bénéficie de son emplacement stratégique en Colombie-Britannique avec accès à des infrastructures et à des ports majeurs.
Nova Pacific Metals (NVPCF) hat eine bedeutende Erweiterung seines Bohrprogramms für das Lara VMS-Projekt in British Columbia angekündigt, das von 19 auf 49 Löcher mit einer Gesamtlänge von 10.000 Metern erhöht wird. Diese Erweiterung folgt auf ein umfassendes Datenbank-Update, das historische Daten aus 226 Bohrlöchern, einschließlich Bohrprotokollen, Erhebungen und Analysen von Zink, Silber, Gold, Barium, Kupfer und Blei, zusammengefasst hat.
Das Unternehmen ist vollständig finanziert mit einem Budget von 2,6 Millionen Dollar für das erweiterte Programm, das im Q2 2025 beginnen soll. Ziel des Programms ist es, historische Ergebnisse zu validieren und die Mineralisierung innerhalb der Zonen von Coronation, Coronation Extension und Hanging Wall auszudehnen. Das Projekt profitiert von seiner strategischen Lage in British Columbia mit Zugang zu Infrastruktur und wichtigen Häfen.
- Secured $2.6 million funding for expanded drill program
- Increased drill program scope from 19 to 49 holes
- Comprehensive database compilation of 226 historical drill holes completed
- Strategic location with access to infrastructure and ports
- None.
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce a significant expansion of its planned drill program at the Lara Volcanogenic Massive Sulphide (VMS) Project on southeast Vancouver Island, British Columbia. This decision follows a comprehensive compilation and analysis of the project's historical database, which has unveiled exciting new potential within the Coronation Zone.
Highlights:
Expanded drill program now encompasses 49 holes totaling 10,000 meters, up from the initially planned 19 holes.
Updated database incorporates abundant historical data, providing a more comprehensive foundation for future resource estimation.
Malcolm Bell, CEO of Nova Pacific, commented, "The results of this historical database compilation has exceeded our expectations and reinforced our belief in the exceptional potential of the Lara Project. By reevaluating the considerable drilling from surface and underground by previous operators and by adding the results obtained from an additional 49 drill holes that are both infill and confirmation holes, we're positioning Nova Pacific with the potential to redefine the future of this promising VMS system."
Database Update Unveils New Potential
A thorough review and update of the historical database, conducted by Mineit Consulting Inc., has incorporated a wealth of previously existing data from the British Columbia Ministry of Mining and Critical Minerals. This update has provided a near-complete dataset for 226 historical drill holes, including crucial information such as drill logs, downhole surveys, assays, and certificates.
The enhanced database now offers a comprehensive view of the property's potential, with assay values for zinc, silver, gold, barium, copper, and lead, as well as specific gravity measurements. This robust dataset meets CIM Best Practice standards and provides a solid foundation for the Company's upcoming drill program and any future resource estimation.
Expanded Drill Program to Unlock Value
Based on the encouraging results of the database update, Nova Pacific has expanded its planned drill program from 19 to 49 holes, totaling 10,000 meters. This comprehensive program aims to validate historical results and expand upon known mineralization within the Coronation, Coronation Extension, and Hanging Wall Zones.
The drill program will adhere to rigorous QA/QC standards, including the use of duplicates, blanks, and standards, as well as the collection of specific gravity measurements. This approach ensures the highest level of data integrity for future resource estimation and economic studies.
Project Potential and Market Factors
Untapped Potential: The Lara Property represents a significant opportunity in the VMS space, with historical drilling indicating mineralization that remains open for expansion.
Data-Driven Approach: The comprehensive database update provides a solid foundation for targeted exploration, potentially leading to more efficient resource definition and expansion.
Expanded Program: The significant increase in the planned drill program demonstrates the Company's confidence in the project and commitment to rapidly advancing its development.
Strategic Location: Situated in the mining-friendly jurisdiction of British Columbia, the Lara Property benefits from excellent infrastructure and proximity to major ports.
Commodity Outlook: With the current bullish outlook for base and precious metals, Nova Pacific is well-positioned to capitalize on the growing demand for copper, zinc, and other critical minerals.
Experienced Team: Nova Pacific's management and technical team have a proven track record of discovery and development in the mining industry.
Mr. Bell added, "We stand at the cusp of what could be a transformative period for Nova Pacific. The expanded drill program at Lara has the potential to enhance the previous historical resource estimate and demonstrate further potential of this VMS system. We're excited for this Project and its ability to deliver value to our shareholders."
Nova Pacific is fully funded for this expanded program with a budget of
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.
Our 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. We are committed to creating value for our 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237919
FAQ
What is the size of Nova Pacific's (NVPCF) expanded drill program at Lara VMS Project?
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How much funding has NVPCF secured for the Lara VMS Project drill program?
How many historical drill holes are included in NVPCF's updated Lara Project database?