Nova Pacific Metals Initiates Call for Drill Bids on Proposed 8,000 Meter Drill Program at the Lara Project
Nova Pacific Metals is preparing for a proposed 2025 exploration program at its Lara VMS Project near Duncan, BC. The company has submitted a permit application for a 40-hole infill drill program and paid an $11,000 reclamation bond. The program aims to confirm historical drill results and support an updated mineral resource estimate. The property, accessible via logging roads, has been previously explored with approximately 470 drill holes, with 180 holes testing the significant Coronation Zone. The company plans to conduct engineering studies, update environmental baseline studies, and commission a Preliminary Economic Assessment once drilling is completed.
Nova Pacific Metals si sta preparando per un programma di esplorazione proposto nel 2025 presso il suo Progetto Lara VMS vicino a Duncan, BC. L'azienda ha presentato una domanda di permesso per un programma di perforazione di infill con 40 fori e ha pagato un deposito per il ripristino di 11.000 dollari. Il programma mira a confermare i risultati storici delle perforazioni e a supportare una stima aggiornata delle risorse minerarie. La proprietà, accessibile tramite strade forestali, è stata precedentemente esplorata con circa 470 fori di perforazione, di cui 180 hanno testato la significativa Zona Coronation. L'azienda intende condurre studi ingegneristici, aggiornare gli studi di base ambientale e commissionare una Valutazione Economica Preliminare una volta completate le perforazioni.
Nova Pacific Metals se está preparando para un programa de exploración propuesto para 2025 en su Proyecto Lara VMS cerca de Duncan, BC. La empresa ha presentado una solicitud de permiso para un programa de perforación de relleno de 40 pozos y ha pagado un depósito de restauración de $11,000. El programa tiene como objetivo confirmar los resultados históricos de perforación y respaldar una estimación actualizada de recursos minerales. La propiedad, accesible por caminos de tala, ha sido explorada previamente con aproximadamente 470 pozos de perforación, de los cuales 180 han puesto a prueba la significativa Zona Coronation. La empresa planea realizar estudios de ingeniería, actualizar estudios de línea de base ambiental y encargar una Evaluación Económica Preliminar una vez que se completen las perforaciones.
노바 퍼시픽 메탈스는 BC주 던컨 근처의 라라 VMS 프로젝트에 대한 2025년 탐사 프로그램을 준비하고 있습니다. 이 회사는 40개의 구멍을 포함한 인필 드릴 프로그램에 대한 허가 신청서를 제출했으며, 11,000달러의 복구 보증금을 지불했습니다. 이 프로그램은 과거 드릴 결과를 확인하고 업데이트된 광물 자원 추정치를 지원하는 것을 목표로 합니다. 이 재산은 벌목 도로를 통해 접근 가능하며, 약 470개의 드릴 홀로 이전에 탐사되었습니다. 그 중 180개의 홀은 중요한 코로나이션 구역을 테스트했습니다. 회사는 굴착이 완료된 후 엔지니어링 연구를 수행하고 환경 기초 연구를 업데이트하며 예비 경제 평가를 의뢰할 계획입니다.
Nova Pacific Metals se prépare pour un programme d'exploration proposé en 2025 au sein de son Projet Lara VMS près de Duncan, en Colombie-Britannique. L'entreprise a soumis une demande de permis pour un programme de forage de 40 trous et a payé un dépôt de restauration de 11 000 $. Ce programme vise à confirmer les résultats historiques de forage et à soutenir une estimation mise à jour des ressources minérales. La propriété, accessible par des routes forestières, a été précédemment explorée avec environ 470 trous de forage, dont 180 ont testé la zone significative de Coronation. L'entreprise prévoit de réaliser des études d'ingénierie, de mettre à jour les études de référence environnementales et de commander une Évaluation Économique Préliminaire une fois le forage terminé.
Nova Pacific Metals bereitet ein vorgeschlagenes Explorationsprogramm für 2025 bei ihrem Lara VMS Projekt nahe Duncan, BC vor. Das Unternehmen hat einen Genehmigungsantrag für ein Infill-Bohrprogramm mit 40 Löchern eingereicht und eine Rekultivierungsanleihe von 11.000 Dollar bezahlt. Das Programm zielt darauf ab, historische Bohrergebnisse zu bestätigen und eine aktualisierte Schätzung der Mineralressourcen zu unterstützen. Das Grundstück, das über Forststraßen erreichbar ist, wurde bereits mit etwa 470 Bohrlöchern erkundet, wobei 180 Löcher die bedeutende Coronation-Zone getestet haben. Das Unternehmen plant, Ingenieurstudien durchzuführen, Umweltgrundstudien zu aktualisieren und nach Abschluss der Bohrungen eine vorläufige Wirtschaftlichkeitsanalyse in Auftrag zu geben.
- Permit application submitted for 40-hole drill program
- Property has extensive historical exploration data from 470 drill holes
- Engagement with First Nation communities progressing favorably
- Plans for mechanical ore sorting study and PEA development
- Program contingent on pending permit approvals
- Requires additional funding for planned studies and drilling program
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2024) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FRA: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce that planning is underway for a proposed 2025 exploration program at the Company's Lara Volcanogenic Massive Sulfide (VMS) Project near Duncan, BC (the "Property"). Nova Pacific is currently soliciting and reviewing drill bids with a start date for the program anticipated following the receipt of all required permits.
In preparation for the program, a permit application for a proposed 40-hole infill drill program was submitted to the British Columbia Ministry of Energy, Mines and Low Carbon Innovation as part of the Company's Notice of Work in late June 2024. Following the Ministry's acknowledgement and acceptance of the application, Nova Pacific recently paid a reclamation bond of
The purpose of the program is to confirm historical drill results and tighten up the drill spacing in order to support the preparation of an updated mineral resource estimate (MRE) on the Property. The Company has retained Mineit Consulting Inc. of Vancouver BC, under the supervision of Shervin Teymouri, B.A.Sc., M.Eng., P.Eng., CEO & Principal Mining Engineer, to design the layout of the drill program which will provide sufficient new information to support a MRE that meets the requirements of National Instrument 43-101 and can be included in an updated technical report on the Property. The proposed layout for the drill program is presented in Figure 1.
Figure 1: Lara Property Proposed Drill Holes
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The Property is approximately 75 kilometres (km) north of Victoria, 15 km northwest of Duncan, and 12 km west of the village of Chemainus and is accessible via a network of logging and forestry roads. The Property was explored by geological mapping, geochemical and geophysical surveys, and diamond drilling between 1981 and 1999. In 2008, a MRE was completed for the Coronation Zone and five other zones.
The Property has been tested by approximately 470 drill holes, most of which were drilled between 1984 and 1990 (Figure 2). Numerous occurrences of mineralization were discovered, the most significant of which are the Coronation Zone and the nearby Coronation Extension and Hanging wall Zones. In 1988, the Coronation Zone was explored by 700 metres (m) of underground development. Of the 470 holes drilled, 180 tested the Coronation and adjacent zones (Figure 3).
Figure 2: Lara Property Historical Drill Hole Locations
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Several key aspects of the program will be to carry out internal engineering studies (e.g., trade-off and scoping studies) to determine the recovery and mining methods, and economic potentials for the project. Results from the recovery and mining methods, and economic potentials of the project may also be included into an updated technical report depending on the outcome of the scoping studies.
Figure 3: Lara Property Coronation Zone Historical Drill Hole Locations
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Mr. J. Malcolm Bell, CEO of Nova Pacific, commented: "As we wait for approval to commence the 2025 drill program we are actively planning for success and being proactive in our preparations for all aspects of the 2025 program. These activities will include contracting a highly competent drill contractor, carrying out an update to the Preliminary Environmental Baseline Study completed in 2015, and finalizing the engagement of Sacré-Davey Engineering Inc., which will undertake an in-depth mechanical ore sorting study utilizing selected drill core segments generated from initial drill holes. In addition, our plan is to commission a Preliminary Economic Assessment (PEA) once infill and confirmation drilling has been completed on the project. Our team is highly motivated, and we are eager to achieve the results we know are possible from this exciting opportunity."
Additional Matters
Further to Nova Pacific's news release dated October 29, 2024, the Company would like to confirm that certain insiders subscribed for
Further to Nova Pacific's news release dated October 31, 2024, the Company would like to confirm that it has engaged both Native Ads Inc. ("Native Ads") and Alphai News Corp. ("Alphai News") to conduct Promotional Activity (as that term is defined in the policies of the Canadian Securities Exchange) on the Company's behalf. Native Ads can be reached at 244 Fifth Avenue, Suite N-249, New York NY 10001, telephone: 1.866.773.3540, email: jon@nativeads.com, while Alphai News can be reached at 21475 102B Avenue, Maple Ridge, BC telephone: 778.988.5503, email: admin@alphainews.com.
Qualified Person Statement
The technical information in this news release has been reviewed and approved by Jeremy Hanson a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI43-101").
About Nova Pacific Metals Corp.
Nova Pacific Metals Corp. is a Canadian exploration and development company focused on high-potential mineral projects. Our key asset is the Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia. This brownfields development boasts a significant polymetallic deposit exhibiting good grades in gold, silver, copper, and zinc, situated in a prime location with excellent infrastructure.
Led by industry veterans with a track record of significant discoveries, Nova Pacific is well-positioned for growth. Nova Pacific's team, including J. Malcolm Bell and Dal Brynelsen, brings extensive experience in mineral exploration and mine development. With a clear pathway to production, including planned infill drilling and a feasibility study, the Company is committed to creating value while maintaining environmental responsibility and strong community relationships.
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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FAQ
What is Nova Pacific Metals' (NVPCF) planned drill program for 2025?
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What permits has Nova Pacific Metals (NVPCF) secured for the Lara Project?
