Nova .(US:NVMI) Newsfileยท2024-08-21 12:30Core Viewpoint - Nova Pacific Metals Corp. has reported significant high-grade precious metal assays from the Lara Gold-Silver-Zinc-Copper Project, indicating the potential for further development and production of the site [2][3][7]. Geological Findings - Recent analysis of historic drill hole data from the Coronation Zone has revealed high-grade intersections of zinc, copper, and lead, with intersections reaching up to 17.46 meters [3]. - The Lara deposit is characterized as a polymetallic volcanogenic massive sulphide deposit, consisting of six discrete zones with a total strike length of approximately 1,180 meters [3]. Historical Context - The site has a history of exploration, with Laramide Resources conducting over 323 drill holes totaling 58,262 meters in the 1980s, although development was halted in 1989 due to economic downturns [4]. - A significant number of drill holes have returned high-grade results for various metals, including gold, silver, zinc, copper, and lead [5]. Drill Results - Select high-grade intersections from the Coronation Trend include: - LA84-012: 8.70m at 61.23 g/t silver, 3.26 g/t gold, 3.01% zinc, 0.68% copper, 0.45% lead - LA85-040: 4.80m at 263.03 g/t silver, 6.58 g/t gold, 8.94% zinc, 1.14% copper, 2.47% lead - LA86-135: 6.07m at 268.69 g/t silver, 8.78 g/t gold, 18.61% zinc, 2.11% copper, 3.93% lead [5][6]. Future Plans - The company plans to analyze historical drill data to optimize locations for a proposed 40-hole in-fill drill program, aiming to calculate a measured and indicated mineral deposit before proceeding with a prefeasibility study [7]. - The goal is to revitalize the Lara project and bring it into production, contingent upon completing necessary studies and obtaining permits [7]. Company Overview - Nova Pacific is a Canadian exploration and development company focused on significant mineral discoveries, with key projects including the Lara VMS project and the Deer Musk West Lithium project [9].