Nova Pacific Metals Receives Drill Permit for 50 Hole Drill Program at the Lara VMS Project
Nova Pacific Metals (NVPCF) has secured a drilling permit from the British Columbia Ministry of Mining for its Lara VMS Project on Vancouver Island. The permit allows for a 10,000-meter diamond drill program comprising 50 drill holes, aimed at confirming historical mineral resources and completing an updated Mineral Resource Estimate (MRE) by September.
The Lara deposit, classified as Kuroko-type VMS, contains three mineralized zones along the Coronation Trend spanning 1.5 kilometers. Historical resource estimates at 1% zinc cut-off indicate 1,146,700 tonnes in the Indicated category with 3.01% zinc, 32.97 g/t silver, 1.05% copper, 0.58% lead, and 1.97 g/t gold. At 2% zinc cut-off, Indicated resources show 428,600 tonnes with higher grades of 5.65% zinc, 47.04 g/t silver, 2.25% copper, 1.18% lead, and 2.39 g/t gold.
The company recently completed a flow-through financing of $2,640,540 to support the project's advancement. Tripoint Geological Services will manage the drill program, which builds upon previous work including 50,000m of historical drilling and 650m of preproduction underground development.
Nova Pacific Metals (NVPCF) ha ottenuto un permesso di perforazione dal Ministero delle Miniere della Columbia Britannica per il suo Progetto Lara VMS sull'Isola di Vancouver. Il permesso consente un programma di perforazione con diamante di 10.000 metri composto da 50 fori, mirato a confermare le risorse minerarie storiche e completare una stima aggiornata delle Risorse Minerarie (MRE) entro settembre.
Il deposito Lara, classificato come VMS di tipo Kuroko, contiene tre zone mineralizzate lungo il Trend Coronation che si estende per 1,5 chilometri. Le stime storiche delle risorse con un taglio dell'1% di zinco indicano 1.146.700 tonnellate nella categoria Indicated con 3,01% di zinco, 32,97 g/t di argento, 1,05% di rame, 0,58% di piombo e 1,97 g/t di oro. Con un taglio del 2% di zinco, le risorse indicate mostrano 428.600 tonnellate con gradi più elevati di 5,65% di zinco, 47,04 g/t di argento, 2,25% di rame, 1,18% di piombo e 2,39 g/t di oro.
L'azienda ha recentemente completato un finanziamento flow-through di 2.640.540 dollari per supportare l'avanzamento del progetto. Tripoint Geological Services gestirà il programma di perforazione, che si basa su lavori precedenti, inclusi 50.000 metri di perforazioni storiche e 650 metri di sviluppo sotterraneo di pre-produzione.
Nova Pacific Metals (NVPCF) ha obtenido un permiso de perforación del Ministerio de Minería de Columbia Británica para su Proyecto Lara VMS en la Isla de Vancouver. El permiso permite un programa de perforación con diamante de 10,000 metros que comprende 50 pozos, destinado a confirmar los recursos minerales históricos y completar una estimación actualizada de Recursos Minerales (MRE) para septiembre.
El depósito Lara, clasificado como VMS tipo Kuroko, contiene tres zonas mineralizadas a lo largo de la Tendencia Coronation que se extiende por 1.5 kilómetros. Las estimaciones históricas de recursos con un corte del 1% de zinc indican 1,146,700 toneladas en la categoría Indicada con 3.01% de zinc, 32.97 g/t de plata, 1.05% de cobre, 0.58% de plomo y 1.97 g/t de oro. Con un corte del 2% de zinc, los recursos indicados muestran 428,600 toneladas con grados más altos de 5.65% de zinc, 47.04 g/t de plata, 2.25% de cobre, 1.18% de plomo y 2.39 g/t de oro.
La empresa ha completado recientemente un financiamiento flow-through de $2,640,540 para apoyar el avance del proyecto. Tripoint Geological Services gestionará el programa de perforación, que se basa en trabajos anteriores que incluyen 50,000 metros de perforaciones históricas y 650 metros de desarrollo subterráneo de preproducción.
노바 퍼시픽 메탈스 (NVPCF)는 밴쿠버 섬에 있는 라라 VMS 프로젝트를 위해 브리티시컬럼비아 광업부로부터 드릴링 허가를 받았습니다. 이 허가는 50개의 드릴 홀로 구성된 10,000미터 다이아몬드 드릴 프로그램을 허용하며, 역사적인 광물 자원을 확인하고 9월까지 업데이트된 광물 자원 추정(MRE)을 완료하는 것을 목표로 하고 있습니다.
라라 매장지는 쿠로코형 VMS로 분류되며, 1.5킬로미터에 걸쳐 있는 코로나션 트렌드에 따라 세 개의 광물화된 구역이 포함되어 있습니다. 1% 아연 컷오프 기준의 역사적 자원 추정치는 1,146,700톤으로, 이는 3.01% 아연, 32.97 g/t 은, 1.05% 구리, 0.58% 납, 1.97 g/t 금이 포함된 Indicated 카테고리를 나타냅니다. 2% 아연 컷오프 기준에서는 Indicated 자원이 428,600톤으로, 5.65% 아연, 47.04 g/t 은, 2.25% 구리, 1.18% 납, 2.39 g/t 금의 더 높은 등급을 보여줍니다.
회사는 최근 프로젝트의 발전을 지원하기 위해 $2,640,540의 흐름을 통한 자금 조달을 완료했습니다. Tripoint Geological Services가 드릴 프로그램을 관리하며, 이는 50,000m의 역사적 드릴링과 650m의 사전 생산 지하 개발을 포함한 이전 작업을 기반으로 합니다.
Nova Pacific Metals (NVPCF) a obtenu un permis de forage du ministère des Mines de la Colombie-Britannique pour son Projet Lara VMS sur l'île de Vancouver. Le permis permet un programme de forage au diamant de 10 000 mètres comprenant 50 trous de forage, visant à confirmer les ressources minérales historiques et à compléter une estimation mise à jour des Ressources Minérales (MRE) d'ici septembre.
Le dépôt Lara, classé comme VMS de type Kuroko, contient trois zones minéralisées le long de la tendance Coronation s'étendant sur 1,5 kilomètres. Les estimations historiques des ressources avec un seuil de 1 % de zinc indiquent 1 146 700 tonnes dans la catégorie Indicated avec 3,01 % de zinc, 32,97 g/t d'argent, 1,05 % de cuivre, 0,58 % de plomb et 1,97 g/t d'or. Avec un seuil de 2 % de zinc, les ressources indiquées montrent 428 600 tonnes avec des grades plus élevés de 5,65 % de zinc, 47,04 g/t d'argent, 2,25 % de cuivre, 1,18 % de plomb et 2,39 g/t d'or.
L'entreprise a récemment complété un financement flow-through de 2 640 540 $ pour soutenir l'avancement du projet. Tripoint Geological Services gérera le programme de forage, qui s'appuie sur des travaux antérieurs, y compris 50 000 m de forages historiques et 650 m de développement souterrain de pré-production.
Nova Pacific Metals (NVPCF) hat eine Bohrgenehmigung vom Ministerium für Bergbau von British Columbia für sein Lara VMS-Projekt auf Vancouver Island erhalten. Die Genehmigung erlaubt ein 10.000-Meter-Diamantbohrprogramm, das aus 50 Bohrlöchern besteht und darauf abzielt, historische Mineralressourcen zu bestätigen und bis September eine aktualisierte Mineralressourcenschätzung (MRE) abzuschließen.
Das Lara-Vorkommen, das als Kuroko-Typ VMS klassifiziert ist, enthält drei mineralisierte Zonen entlang des Coronation-Trends, der sich über 1,5 Kilometer erstreckt. Historische Ressourcenschätzungen mit einem Cut-off von 1 % Zink zeigen 1.146.700 Tonnen in der Indicated-Kategorie mit 3,01 % Zink, 32,97 g/t Silber, 1,05 % Kupfer, 0,58 % Blei und 1,97 g/t Gold. Bei einem Cut-off von 2 % Zink zeigen die Indicated-Ressourcen 428.600 Tonnen mit höheren Gehalten von 5,65 % Zink, 47,04 g/t Silber, 2,25 % Kupfer, 1,18 % Blei und 2,39 g/t Gold.
Das Unternehmen hat kürzlich eine Flow-Through-Finanzierung von 2.640.540 $ abgeschlossen, um den Fortschritt des Projekts zu unterstützen. Tripoint Geological Services wird das Bohrprogramm leiten, das auf früheren Arbeiten basiert, einschließlich 50.000 m historischer Bohrungen und 650 m unterirdischer Vorproduktionsentwicklung.
- Secured drilling permit for major 10,000-meter program
- Recently raised $2.64M in flow-through financing
- Project has substantial historical infrastructure worth $30M
- Historical indicated resources show high-grade mineralization
- Project is drill-ready with contractor already secured
- Current resource estimate is historical and non-compliant
- Updated resource estimate pending until September 2025
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce that the British Columbia Ministry of Mining and Critical Minerals has issued an exploration drilling permit for the Company's flagship Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia.
The permit authorizes Nova Pacific to proceed with its planned 10,000-meter diamond drill program comprising 50 drill holes, which was initially announced in July 2024. The drill program is designed to provide both confirmation of the historical Lara VMS mineral resource estimate (2008, Table 1), as well as to provide infill drilling data necessary to complete an updated and current Mineral Resource Estimate (MRE). The Company estimates that the MRE may be completed by the end of September.
The Lara deposit is classified as Kuroko-type VMS, comprising volcanic-hosted, stratiform sulphide mineralization in three zones (collectively known as the Coronation Trend) at varying stratigraphic intervals over a strike length of approximately1.5 kilometers. The Coronation Trend is one of several mineralized zones hosted in a highly prospective belt of uplifted felsic volcanic rocks that form the core of the Lara Project.
| HISTORICAL RESOURCE ESTIMATE | ||||||
| Category | Tonnes | Zinc (%) | Silver (g/t) | Copper (%) | Lead (%) | Gold (g/t) |
| Indicated | 1,146,700 | 3.01 | 32.97 | 1.05 | 0.58 | 1.97 |
| Inferred | 669,600 | 2.26 | 32.99 | 0.9 | 0.44 | 1.9 |
| HISTORICAL RESOURCE ESTIMATE | ||||||
| Category | Tonnes | Zinc (%) | Silver (g/t) | Copper (%) | Lead (%) | Gold (g/t) |
| Indicated | 428,600 | 5.65 | 47.04 | 2.25 | 1.18 | 2.39 |
| Inferred | 207,900 | 3.99 | 37.57 | 1.73 | 0.84 | 2.3 |
Table 1. Historical, Non-Current, Mineral Resource Summary (Kelso & Wetherup, 2008)
J. Malcolm Bell, Nova Pacific's CEO, commented, "Our new drill permit achieves a significant milestone in the revitalization of the Lara Project. Current metal prices have substantially increased the potential value of the Lara deposit, the result of 50,000 m of historical drilling and 650 m of preproduction underground development at an expense of upwards of
In less than three weeks we will start drilling with the goal of updating and potentially expanding the historical Mineral Resource Estimate (Table 1). This permit is the culmination of diligent preparation by Ministry authorities, and we are grateful for their support throughout this process. Tripoint Geological Services Ltd. of Victoria, BC, has been contracted to manage the drill program on behalf of the Company. Both Mineit Consulting Ltd. and Greg Moser have been instrumental in evaluating historical drill profiles and with preparation of the overall drill plan for the upcoming program, and we wish to thank them for their exceptional work."
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.
The Company's 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 needed. The Company is committed to creating value for its shareholders while supporting 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/247720
FAQ
What is the size of Nova Pacific's (NVPCF) planned drill program at the Lara VMS Project?
What are the historical resource estimates for NVPCF's Lara Project at 1% zinc cut-off?
How much flow-through financing did NVPCF secure for the Lara Project in 2025?
When does NVPCF expect to complete the updated Mineral Resource Estimate for Lara?
What is the extent of historical development at NVPCF's Lara Project?
