- Nova Pacific Metals (CSE:NVPC) published an independent mineral resource estimate for the Coronation deposit at its Lara volcanogenic massive sulphide project near Nanaimo, British Columbia
- The deposit is estimated at 181,000 ounces of gold equivalent indicated and inferred
- Nova Pacific Metals stock has given back 78.26 per cent year-over-year
Nova Pacific Metals (CSE:NVPC) published an independent mineral resource estimate for the Coronation deposit at its Lara volcanogenic massive sulphide (VMS) project near Nanaimo, British Columbia. Here’s a breakdown:
- Pit-constrained indicated: 1.944 million tons (Mt) grading 1.50 grams per ton (g/t) gold equivalent (AuEq), containing 94,000 ounces AuEq.
- Pit-constrained inferred: 2.024 Mt grading 1.11 g/t AuEq, containing 72,000 ounces AuEq.
- Underground indicated: 0.042 Mt grading 2.86 g/t AuEq, containing 4,000 ounces AuEq.
- Underground inferred: 0.124 Mt grading 2.73 g/t AuEq, containing 11,000 ounces AuEq.
- The consolidated total of 181,000 ounces AuEq, at the current price of US$5,027.38, according to ADVFN, comes to more than US$909 million, leaps and bounds ahead of Nova’s C$2.16 million market capitalization.
Lara spans a 17-kilometre belt of the McLaughlin Ridge Formation, a volcanic sequence that hosts the past-producing Myra Falls VMS mine, a long-life operation located about 140 km to the northwest.
The polymetallic Coronation is one of several mineralized zones identified on the project, granting leadership conviction in being able to expand the resource through further evaluation.
Mineral resource for the Coronation deposit
| Pit- Constrained | Cut-off (g/t AuEq) | Tons | Ag (oz) | Au (oz) | Cu (tons) | Pb (tons) | Zn (tons) |
| Indicated | 0.3 | 1,944,000 | 1,180,000 | 58,000 | 3,000 | 3,000 | 19,000 |
| Inferred | 0.3 | 2,024,000 | 955,000 | 46,000 | 3,000 | 2,000 | 12,000 |
| Underground | Cut-Off (g/t AuEq) | Tonnes | Ag (oz) | Au (oz) | Cu (tons) | Pb (tons) | Zn (tons) |
| Indicated | 2.0 | 42,000 | 37,000 | 3,000 | 80 | 240 | 490 |
| Inferred | 2.0 | 124,000 | 67,000 | 7,000 | 1,000 | 320 | 1,000 |
According to Tuesday’s news release, next steps will include metallurgical and other technical studies at Coronation, in addition to the next phase of drilling on the high-priority Lady A, Lady C and Anita zones.
Management commentary
“This initial mineral resource for our Coronation deposit represents an important milestone for Nova Pacific and supports our 2025 phase-1 drill program. We are particularly encouraged by the open-pit potential of the resource, which we believe warrants further evaluation. In 2026, we also plan to assess additional mineralized zones across the Lara project, including the Lady A and Lady C prospects, which we believe offer strong potential to expand the project’s resource base,” Sam Eskandari, Nova Pacific Metals’ chief executive officer, said in a statement.
About Nova Pacific Metals
Nova Pacific Metals is a Canadian exploration and development company advancing the Lara VMS project on Vancouver Island, British Columbia.
Nova Pacific Metals stock (CSE:NVPC) opened with a gain of 11.11 per cent trading at C$0.05. The stock has given back 78.26 per cent year-over-year.
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