Nova Pacific Metals Highlights the History and Revitalization Plans for the Lara VMS Deposit
Nova Pacific Metals reports on the history and revitalization plans for its Lara VMS deposit located on Vancouver Island, British Columbia. The deposit, discovered in 1984, showed significant historical drilling results, including a high-grade trend averaging 6.80 g/t gold, 189.94 g/t silver, 14.9% zinc, 1.5% copper, and 3.1% lead. The company's revitalization plan includes confirmation sampling, a 40-hole diamond drilling program, First Nations consultation, and mineral resource estimate preparation. Nova Pacific has also engaged Kingfisher Consulting for European marketing services for €60,000 over three months starting December 2024.
Nova Pacific Metals riporta sulla storia e i piani di revitalizzazione per il suo deposito VMS di Lara situato sull'Isola di Vancouver, in Columbia Britannica. Il deposito, scoperto nel 1984, ha mostrato risultati storici di perforazione significativi, includendo una tendenza ad alta legge che media 6,80 g/t di oro, 189,94 g/t di argento, 14,9% di zinco, 1,5% di rame e 3,1% di piombo. Il piano di revitalizzazione dell'azienda include campionamenti di conferma, un programma di perforazione con diamante di 40 fori, consultazione con le Prime Nazioni e preparazione di una stima delle risorse minerali. Nova Pacific ha inoltre ingaggiato Kingfisher Consulting per servizi di marketing europei per €60.000 per tre mesi a partire da dicembre 2024.
Nova Pacific Metals informa sobre la historia y los planes de revitalización de su depósito VMS de Lara ubicado en la Isla de Vancouver, en Columbia Británica. El depósito, descubierto en 1984, mostró resultados históricos de perforación significativos, incluyendo una tendencia de alta ley que promedia 6,80 g/t de oro, 189,94 g/t de plata, 14,9% de zinc, 1,5% de cobre y 3,1% de plomo. El plan de revitalización de la compañía incluye muestreo de confirmación, un programa de perforación de diamantina de 40 agujeros, consulta con las Primeras Naciones y preparación de una estimación de recursos minerales. Nova Pacific también ha contratado a Kingfisher Consulting para servicios de marketing europeo por €60,000 durante tres meses a partir de diciembre de 2024.
노바 패시픽 메탈스는 브리티시 컬럼비아의 밴쿠버 섬에 위치한 라라 VMS 광맥의 역사와 재활 계획에 대해 보고합니다. 1984년에 발견된 이 광맥은 평균 6.80 g/t의 금, 189.94 g/t의 은, 14.9%의 아연, 1.5%의 구리, 3.1%의 납을 포함하는 고급 트렌드를 기록했습니다. 회사의 재활 계획에는 확인 샘플링, 40개의 다이아몬드 시추 프로그램, 원주민과의 상담, 광물 자원 추정 준비가 포함됩니다. 노바 패시픽은 또한 2024년 12월부터 시작되는 3개월 동안 유럽 마케팅을 위해 킹피셔 컨설팅을 €60,000에 고용했습니다.
Nova Pacific Metals fait état de l'historique et des plans de revitalisation de son dépôt VMS de Lara situé sur l'île de Vancouver, en Colombie-Britannique. Le dépôt, découvert en 1984, a montré des résultats de forage historiques significatifs, y compris une tendance à haute teneur moyenne de 6,80 g/t d'or, 189,94 g/t d'argent, 14,9% de zinc, 1,5% de cuivre et 3,1% de plomb. Le plan de revitalisation de l'entreprise comprend des échantillonnages de confirmation, un programme de forage à diamant de 40 trous, une consultation avec les Premières Nations et la préparation d'une estimation des ressources minérales. Nova Pacific a également engagé Kingfisher Consulting pour des services de marketing européens pour 60 000 € sur trois mois à partir de décembre 2024.
Nova Pacific Metals berichtet über die Geschichte und die Revitalisierungspläne für sein Lara VMS-Vorkommen, das sich auf Vancouver Island in British Columbia befindet. Das Vorkommen, das 1984 entdeckt wurde, zeigte signifikante historische Bohrergebnisse, einschließlich eines Hochgradetrends mit einem Durchschnitt von 6,80 g/t Gold, 189,94 g/t Silber, 14,9% Zink, 1,5% Kupfer und 3,1% Blei. Der Revitalisierungsplan des Unternehmens umfasst Bestätigungsprobenahme, ein 40-Bohrlöcher-Diamantbohrprogramm, Konsultationen mit den First Nations und die Vorbereitung einer Schätzung der Mineralressourcen. Nova Pacific hat auch Kingfisher Consulting für europäische Marketingdienstleistungen für 60.000 € über drei Monate ab Dezember 2024 engagiert.
- Historical high-grade mineralization with significant precious and base metals content
- Extensive historical drilling data with 323 holes totaling 58,262m
- Comprehensive revitalization plan in place with pending drill permits
- Recent financing completed to support development plans
- No current NI 43-101 compliant resource estimate
- Required permits still pending for drilling program
- Additional expenditure of €60,000 for marketing services
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to report on the history and revitalization plans for its Lara Volcanogenic Massive Sulphide (VMS) deposit. The Lara property is located 15 km west of Chemainus on southern Vancouver Island, British Columbia, in a prospective belt of uplifted Sicker Group volcanics which hosts a number of former VMS mines and mineral occurrences.
The following has been excerpted from "1980-1994 FINDING LARA" by Albert Reeve, former President, Laramide Resources Ltd., April 2020, with minor changes made for consistency and clarity.
The Lara deposit, discovered in 1984 by Laramide Resources Ltd. in partnership with Abermin Corporation, was the subject of significant exploration efforts during the 1980's, only to languish as the result of depressed metal prices through the 1990's.
The Lara deposit's story began when geologist Gary Belik, an expert in volcanogenic base metal deposits, staked a mineralized outcrop on ground previously held by Cominco Ltd. This serendipitous find led to a series of exploration campaigns that have progressively unveiled the deposit's potential. Results of these efforts were highlighted by an 8.2-meter intersection of massive sulphides averaging 3.01 % zinc,
Extensive exploration followed, with 61 drill holes being completed in the 1985 exploration season and the definition of what became known as the Coronation Zone and its extensions. A further 75 diamond drill holes were drilled in 1986, resulting in the definition of a high-grade trend in the Coronation Zone that was 152.4 m in length and 3.35 m thick, averaging: 6.80 g/t gold, 189.94 g/t silver,
Over 10,000 m of infill drilling was completed by Minnova, an investing partner, on the Coronation Zone in 1989. The following year, Minnova completed an additional 49 exploration holes totaling 11,167 m. Twenty-six (6,188 m) of these holes tested the 262 Zone, a distal exhalite horizon, sub-parallel to and in the hanging wall of the Coronation Zone.
In 1994, renowned geologists Dr. Giles Peatfield and Richard Walker conducted a comprehensive reinterpretation of the property's geology. Their report, "Reinterpretation of Geological Relationships on the Cowichan Uplift Polymetallic Mineral Property" recommended a program of geological re-mapping and identified six drilling targets based on the concept that VMS base metal deposits typically occur in clusters.
Coronation Trench, Coronation Zone Portal
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Cautionary Statement: These results and estimates are historical and are used for reference purposes only. Nova Pacific has examined the historical drill data, sampling plans and exploration reports and believes that the historical estimates are relevant. The Company will need to complete additional drill holes to verify the historical resources in order to upgrade the estimates to make them compliant with the standards of National Instrument 43-101 ("NI 43-101").
To date, 323 diamond drill holes totalling 58,262 m have been drilled on the property. The Company is currently implementing a rapid revitalization plan for the Lara project that includes:
Confirmation sampling of mineralized outcrops and showings that includes some backpack drilling (results pending).
An in-depth evaluation of historical drill results enabling site selection for an upcoming program of 40 DD holes designed to confirm previous results as well as to target infill drill locations effectively. Phase one has already completed, and the final phase is expected to be completed by year end, pending approval of necessary permits.
Drill permits applications have been made and a reclamation bond is in place. The Company has received several drill bids; the selection will be announced once the necessary permits have been received.
Consultation with First Nations have been initiated and meetings have been scheduled.
Preparation of a mineral resource estimate that complies with CIM requirements once results from drilling are complete.
Conducting optimization trials using optical mineral sorting processes in Q1, 2025 utilizing crushed portions of drill core recovered from the drill program.
Nova Pacific's CEO, Mr. Malcolm Bell, stated: "From an examination of the existing historical data, the Company, in consultation with professional consultants, believes there is a significant opportunity to advance toward future development of the Lara deposit. A recent financing has closed and plans will soon be completed to conduct both confirmation and infill drilling within the Coronation Trend including along strike extensions. We are excited to build upon the Lara legacy and maximize the potential of this remarkable asset."
- Albert Reeve (2020): 1980-1994 FINDING LARA.
Kingfisher Agreement
In addition, Nova Pacific announces that the Company has entered into an investor relations consulting agreement with Kingfisher Consulting Ltd. ("Kingfisher") dated November 14, 2024, pursuant to which Kingfisher will assist the Company with its European marketing and communications strategy, including the creation of content, the coordination of press contacts and coverage, the management of social media channels and related services. The agreement is for a term of three (3) months commencing on December 1, 2024, may be extended by the mutual consent of the parties, and requires the Company to pay Kingfisher a total fee of €60,000 prior to services being rendered.
Kingfisher and the Company are unrelated and unaffiliated entities and neither Kingfisher nor its principals have an interest, directly or indirectly, in any securities of the Company. The agreement does not obligate the Company to issue any securities to Kingfisher and is subject to all necessary approvals of the Canadian Securities Exchange.
Kingfisher can be reached at Fairview Strand 23, Dublin 3, Ireland, telephone: +353-1-442-8061, email: weare@kingfisherconsulting.eu
Qualified Person
The technical information in this news release has been reviewed and approved by David Nelles, P.Geo., a consultant to the Company and a Qualified Person as defined by NI 43-101.
About Nova Pacific Metals
Nova Pacific is committed to advancing the Lara VMS deposit through responsible exploration and development. The Company believes that the property's location, combined with its geological characteristics and historical exploration data, positions it as a promising project in the mining industry.
For additional information please visit: www.novapacificmetals.com
Rights of Indigenous Communities Statement
Nova Pacific recognizes the Rights of all Indigenous Peoples of Canada. The Company is committed to consultation and accommodation with the Hul'qumi'num Treaty Group communities on whose Traditional, Ancestral and Unceded Territory the Lara Property is located. The Hul'qumi'num Treaty Group is a politically unified group that represents six Hul'qumi'num-speaking First Nations: Cowichan, Stz'uminus, Penelakut, Lyackson, Halalt, and Lake Cowichan.
On behalf of the Board of Directors
J. Malcolm Bell
Chief Executive Officer, Director
For Further Information, please contact:
Nova Pacific Metals Corp.
Investor Inquiries
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. 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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