Nova .(US:NVMI) Newsfileยท2024-11-27 08:15Core Viewpoint - Nova Pacific Metals Corp. has announced promising initial results from its backpack drilling program at the Lara Project, indicating high-grade intersections of gold, silver, zinc, lead, and copper, which validate the company's exploration strategy and historical data [1][3]. Summary by Sections Drilling Program Results - The backpack drilling program involved six BQ-sized holes totaling 18.11 meters (59.4 feet) drilled to confirm historic grades and collect modern geochemistry data for massive sulphide mineralization in the Coronation Zone [1]. - Results from two boreholes have been obtained, with Hole 24BP01 intersecting 3.0 meters of massive sulphide layers, yielding a weighted average assay of 11.67 g/t Au, 373 g/t Ag, 21.33% Zn, 4.23% Pb, and 1.75% Cu [2][3]. - Hole 24BP02's first 0.9 meters intersected massive sulphides with assays of 3.16 g/t Au, 462 g/t Ag, and 46.03% Zn, while the remaining 1.5 meters showed lower grades [3][6]. Future Development Plans - The CEO of Nova Pacific expressed optimism about the initial results, stating they are a first step in revitalizing the Lara Project and increasing confidence in its future development [3]. - The company is awaiting results from the remaining four holes and plans to commence a 40 drill hole program once permitting is received [3]. Project Overview - The Lara Project is a brownfields development project located on Vancouver Island, British Columbia, known for its significant polymetallic resource rich in gold, silver, copper, and zinc [10]. - The Coronation Zone, along with the Coronation Extension and Hanging Wall zones, hosts most of the reserves and historic resource calculations of the Lara Project [4].