Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to provide a corporate update, highlighting recent achievements, strategic acquisitions, and future plans to position the Company for growth in the critical and precious metals markets.
Lara VMS Project: Cornerstone of Growth
Nova Pacific's flagship Lara Volcanogenic Massive Sulfide (VMS) Project on Vancouver Island, British Columbia, aims to leverage off its 2024 achievement. This includes:
Drill Permit Application: In July 2024, the Company announced submission of a drill permit application for up to 10,000 meters in 50 diamond drill holes. This application has progressed favourably, and the Company is optimistic that the permit will be issued in the very near future.
Expanded Drill Program: Following a detailed analysis of historical data the planned drill program has been expanded for up to 10,000 meters. This expansion underscores the Company's confidence in the project's potential.
Fully Funded Drill Program: On December 17th, 2024, the company completed a flow-through financing of $2,640,540, proceeds of which will fully fund the intended drill program.
Existing Database Enhancement: A comprehensive update of the historical database has incorporated data from 226 historical drill holes, and upon completion of the 2025 drill campaign will provide a robust foundation for future resource estimation and economic
Confirmation of High-Grade Zone: Recent man-portable drilling has confirmed the very high-grade nature of historical trench results, with intercepts including 2.2 m with 21.7 g/t Gold, 418 g/t Silver, 48.12% Zinc, 2.67% Copper and 4.95% Lead.
Strategic Expansion: The acquisition of the Anita Property, encompassing 658 hectares contiguous to the Lara Project, significantly enhances Nova Pacific's claim holdings. Additionally, on February 19th, 2025, the Company announced further expansion westward with the new acquisition comprising three contiguous mineral claims with a combined area of approximately 976 hectares (Figure 1).
Figure 1. Map of the Lara Project
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J. Malcolm Bell, CEO of Nova Pacific Metals, commented, "During the past months the team has been busy preparing our plans to unlock the potential of the Lara project. Our upcoming drill program is intended to establish an updated Mineral Resource Estimate with the aim of advancing a plan to move towards application for a mining permit."
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, polymetallic, 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 this spring, completion of an updated mineral resource estimate (MRE) and preparation of a Pre-Feasibility Study in late Q3, if and as required. The Company is committed to creating value for its 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 and the perceived benefits of the new member of the strategic advisory board. 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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SOURCE: Nova Pacific Metals Corp.
