Vancouver, British Columbia--(Newsfile Corp. - April 3, 2025) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company", or "Nova Pacific") is pleased to announce the staking of two additional claims (B&B 4 and 5) totaling 912.38 hectares contiguous with the existing property outline (Figure 1), following the completion of Dr. Tom Setterfield's in-depth analysis of historical exploration results to the west of the Lara deposit.
Figure 1. Lara Project Location with the Two New Claims B&B 4 and 5
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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 km of this highly prospective stratigraphy. The northwest 7 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 (Figure 2):
- The northwest-trending McDougall Vein comes to within 500 m of the northwest part of the property; this vein has produced grab samples with up to 182 g/t Au and 86.5 g/t Ag (ARIS 13568). A jasper-rich ± magnetite iron formation, with up to 0.72 g/t Au, 0.51% 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 Cu, 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% and 1.845% 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 in a background of samples which were mostly below the detection level (5 ppb; ARIS 32850).
Figure 2. Features of the Northwest Part of the Lara Property
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Drill Permit Application: In July 2024, the Company announced the submission of a drill permit application for up to 10,000 meters 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 fund the intended drill program.
J. Malcolm Bell, Nova Pacific's CEO, 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 underway 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, 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 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. 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.
