Nova Pacific Metals Receives Drill Permit for 50 Hole Drill Program at the Lara VMS Project

Core Viewpoint - Nova Pacific Metals Corp. has received a drilling permit for its Lara VMS Project, allowing the company to conduct a 10,000-meter diamond drill program to confirm and update historical mineral resource estimates [1][2]. Group 1: Drilling Program Details - The permit authorizes a total of 50 drill holes as part of the planned program, which aims to provide confirmation of the historical mineral resource estimate from 2008 and gather infill drilling data for an updated Mineral Resource Estimate (MRE) expected by the end of September [2][4]. - The Lara deposit is classified as Kuroko-type VMS, featuring volcanic-hosted, stratiform sulphide mineralization across three zones over a strike length of approximately 1.5 kilometers [3]. Group 2: Historical Resource Estimate - The historical resource estimate includes: - Indicated: 1,146,700 tonnes with 3.01% Zinc, 32.97 g/t Silver, 1.05% Copper, 0.58% Lead, and 1.97 g/t Gold at a 1% Zinc block cut-off - Inferred: 669,600 tonnes with 2.26% Zinc, 32.99 g/t Silver, 0.9% Copper, 0.44% Lead, and 1.9 g/t Gold at a 1% Zinc block cut-off - Indicated: 428,600 tonnes with 5.65% Zinc, 47.04 g/t Silver, 2.25% Copper, 1.18% Lead, and 2.39 g/t Gold at a 2% Zinc block cut-off - Inferred: 207,900 tonnes with 3.99% Zinc, 37.57 g/t Silver, 1.73% Copper, 0.84% Lead, and 2.3 g/t Gold at a 2% Zinc block cut-off [4]. Group 3: Financial and Operational Context - The CEO of Nova Pacific highlighted that the current metal prices have significantly increased the potential value of the Lara deposit, which has undergone 50,000 meters of historical drilling and 650 meters of preproduction underground development, costing upwards of $30 million in today's dollars [4][5]. - The company has recently completed flow-through financing amounting to $2,640,540, positioning the project for rapid advancement [4][5]. Group 4: Community and Environmental Commitment - Nova Pacific operates on the Traditional, Ancestral, and Unceded Territory of the Stz'uminus and Hul'qumi'num Treaty Group, emphasizing the company's commitment to fostering relationships with local communities and contributing to shared prosperity [9][10].