Nova Pacific Metals Expands the Lara Project Westward

Core Viewpoint - Nova Pacific Metals Corp. has announced a strategic expansion of its flagship Lara Project on Vancouver Island, British Columbia, by acquiring three contiguous mineral claims totaling approximately 976 hectares [1][2]. Company Overview - Nova Pacific is a Canadian exploration and development company focused on the Lara Volcanogenic Massive Sulfide (VMS) Project, which is rich in critical and precious metals and benefits from excellent infrastructure [14]. Acquisition Details - The newly acquired mineral claims were obtained from two directors in exchange for the repayment of their nominal out-of-pocket expenses, and the claims were transferred free of any encumbrances [7]. - The acquisition is classified as a "related party transaction" under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority approval requirements [8]. Geological Potential - The newly acquired claims are considered a highly attractive geological target for large, massive sulphide deposits of precious metals, zinc, and copper within an established VMS district [5]. - Prior exploration by companies such as Falconbridge and Abermin has provided valuable structural, stratigraphic, and geochemical insights into the area [5]. Exploration Targets - Two developed prospects, Lady A and Lady C, are located within the newly acquired mineral tenure and are characterized as stratabound exhalative, banded iron deposits [5]. - The Chipman Creek Syncline target shows a significant alteration trend and is considered a favorable location for discovering large massive sulphide deposits similar to the "HW" type found at the Myra Falls mine [5][6]. Future Plans - The company plans to conduct a 10,000-meter targeted drilling program to delineate the extent of mineralization at the Lara Project, along with geophysical and geochemical surveys to identify new areas of interest [11][9]. - Initial metallurgical studies of the Lara deposit are also planned to inform future development strategies [11].