- Nova Pacific Metals Corp. completes 58% of Phase 1 drilling at Lara Project with 21 out of 39 planned drillholes.
- A second drill rig has been added to accelerate exploration on the Coronation Trend.
- Visible massive sulphide and sulphide vein mineralization identified; assay results pending for four rush-assayed drill holes.
Nova Pacific Metals Corp. (NVPCF, Financial) has announced a significant update on its Phase 1 exploration drill program at the Lara Volcanogenic Massive Sulphide (VMS) Project, located on Vancouver Island, British Columbia. As of now, the company has successfully completed 21 of the 39 planned drillholes, which totals 4,953 meters out of a targeted 8,500 meters.
To expedite the exploration, a second drill rig has been deployed, which highlights Nova Pacific's commitment to efficiently advancing its drilling program. The company has sent seven drillholes for sampling to ALS Geochemistry in North Vancouver, with four prioritized for rush assaying, which could potentially yield significant findings.
The primary objectives of this Phase 1 program include confirming historical drilling data and exploring potential extensions of mineralization along the Coronation Trend. Visible massive sulphide and sulphide vein mineralization have been detected in the drill cores, suggesting potential high-value mineral deposits.
In a strategic move, Nova Pacific has also granted 650,000 incentive stock options to consultants and advisory board members. These options vest immediately and are exercisable at $0.14 per share for a period of up to five years, reflecting the company’s intention to motivate and retain key personnel while driving growth.