Vancouver, British Columbia--(Newsfile Corp. - July 31, 2024) - Nova Pacific Metals Corp. (CSE: NVPC) (OTCQB: NVPCF) (FSE: YQ10) (WKN: A40GFH) (the "Company," or "Nova Pacific") is pleased to announce that it has received results from a recent Mobile Metal Ion (MMI) orientation survey at the Lara volcanogenic massive sulphide (VMS) deposit located 15 km west of the port of Chemainus, British Columbia, Canada. The Lara Property comprises 4 mineral claims (~1848.1 ha) and is road accessible year-round via a network of logging roads throughout the claims.
MMI Soil Sampling
MMI is an innovative, high-resolution soil geochemistry exploration tool that is especially well-suited for deeply buried mineral deposits. The advantages of MMI soil geochemistry include the definition of sharp anomalies with few false anomalies, repeatability, defined metal zones and associations and low noise and limits of detection.
MMI orientation sampling was carried out on a small grid over known mineralization, namely the Coronation Zone, within the Lara Property. The mineralization is defined as a Kuroko style of massive zinc-lead-copper sulphides containing significant values of gold and silver. The purpose of the survey was to test the effectiveness of this technique in responding to this type of mineralization for future exploration on the Lara Property.
"Results of the MMI survey were successful in establishing correlation between underlying mineralization and the surface signature presented by MMI assay data when plotted for each element analysed. This will be extremely valuable when evaluating known mineralizing trends outside of the Main Coronation Zone, the Coronation Extension Zone, and the Hanging Wall zone where the existing mineral resource was established prior to the downturn in mineral prices in the late 1980's. Additional MMI surveys will be incorporated into Nova's exploration plans in the near future "commented Nova Pacific's CEO, Mr. Malcolm Bell.
The sampling was carried out along four survey lines with a 100-meter separation and a sampling interval of 25 meters. Each line was 500 meters long for a total survey length of 2,000 meters. This resulted in 84 samples which were taken into the laboratory at SGS Canada located in Burnaby, BC, with the testing including a 53-element MMI-M package. These results have now been received and colour contour plan maps were then created for 15 of the elements, five of which namely silver, gold, copper, nickel, zinc, and lead (Figure 1).
The main feature of the MMI survey results is a strong multi-element anomaly that strikes easterly for 125 meters and then southerly for 200 meters with it being open to the west and to the south. Importantly, the anomaly correlates well with the massive sulphide mineralization of the Coronation Zone and thus MMI soil sampling appears to be an effective exploration tool on the Lara property.
Qualified Person
The technical information in this news release has been reviewed and approved by David Nelles, P.Geo., a consultant to the company and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI43-101").
About Nova Pacific
Nova Pacific is a Canadian exploration and development company focused on pursuing projects with a significant mineral discovery thus providing a viable pathway to potential development. The key projects owned by the Company are its recently acquired Lara VMS project located on Vancouver Island, British Columbia and its Deer Musk West Lithium project located in Clayton Valley, Nevada. The Company intends to continue its exploration and development efforts on its mineral projects with a view towards maximizing shareholder value.
Nova Pacific Metals recognizes the Rights of all Indigenous Peoples of Canada. Nova 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 [email protected] +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.
