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Nova Pacific Metals Corp
Symbol NVPC
Shares Issued 47,487,700
Close 2025-04-03 C$ 0.155
Market Cap C$ 7,360,594
Recent Sedar Documents

Nova Pacific stakes two claims near Lara

2025-04-03 17:18 ET - News Release

Mr. Malcolm Bell reports

NOVA PACIFIC METALS EXTENDS THE STRIKE LENGTH OF THE LARA PROJECT TO 17 KM

Nova Pacific Metals Corp. has staked two additional claims (B&B 4 and 5) totalling 912.38 hectares contiguous with the existing property outline, following the completion of Dr. Tom Setterfield's in-depth analysis of historical exploration results to the west of the Lara deposit.

The northwest part of the property is predominantly underlain by the McLaughlin Ridge formation, host to the Lara deposit and other volcanogenic massive sulphide (VMS) mineralization along strike. Nova Pacific now controls 17 kilometres of this highly prospective stratigraphy. The northwest seven km of strike length has received much less exploration attention than the southeast 10 km.

The prospectivity of the part of the property is highlighted by the following:

  • The northwest-trending McDougall vein comes to within 500 metres of the northwest part of the property; this vein has produced grab samples with up to 182 grams per tonne Au and 86.5 g/t Ag (ARIS 13568). A jasper-rich plus or minus magnetite iron formation, with up to 0.72 g/t Au, 0.51 per cent Cu and 2.9 g/t Ag (different samples) is within 250 m of the property to the west (ARIS 16802).
  • In 1983, Canamin Resources explored a property straddling the northwest corner of the present Lara property. Canamin Resources collected 65 soil samples, 15 of which were on the Nova Pacific property. One of the samples ran 309 ppm (parts per million) Cu (copper), the highest value from the survey (ARIS 11401).
  • A brief property visit in 2001 resulted in the collection and description of five samples. Two examples of quartz-sericite-pyrite schist were noted from the McLaughlin Ridge formation, as was an outcrop of quartz-magnetite-chlorite stockwork (ARIS PF006208).
  • In 2011, Rock-Con Resources collected five rock samples from the present property. One sample ran 2.34 g/t Au, and two other samples ran 2.000 per cent and 1.845 per cent Cu, respectively (ARIS 32279). All samples were from the newly staked ground and within the McLaughlin Ridge formation. Also in 2011, Rock-Con conducted a soil survey covering parts of these western claims. The survey consisted of lines 100 m apart, with a sample spacing of 50 m along the lines. They noted two significant semi-coincident Cu-Zn anomalies and four, single-site gold anomalies; gold in these anomalies varied from 27 to 139 ppb (parts per billion) in a background of samples which were mostly below the detection level (five ppb; ARIS 32850).

Drill permit application: In July, 2024, the company announced the submission of a drill permit application for up to 10,000 metres in 50 diamond drill holes. The application has progressed favourably, and the company is optimistic that a permit will be issued in the near future. The company recently completed a flow-through financing of $2,640,540, the proceeds of which will fully finance the intended drill program.

J. Malcolm Bell, Nova Pacific's chief executive officer, commented: "Since the acquisition of the initial Lara claims, host to the historic Lara VMS deposit, the company has continued to expand the project size which today represents a significant, 17 km long, land position within the highly favourable Sicker Group of rocks. While our current focus in the near term is to get under way with drill confirmation of the Lara deposit, we will continue to develop targets for future drill programs. Our drill program is intended to establish an updated mineral resource estimate for presentation by mid summer."

Qualified person

David Nelles, PGeo, 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 Metals Corp.

Nova Pacific is a Canadian exploration and development company focused on the Lara volcanogenic massive sulphide (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 prefeasibility study if and as required. The company is committed to creating value for its shareholders while maintaining environmental responsibility and strong community relationships.

We seek Safe Harbor.

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