02:20 PM EDT, 05/16/2025 (MT Newswires) -- Nova Pacific Metals ( NVPCF ) on Friday said that it began its phase 1 diamond drill program at the Lara Volcanogenic Massive Sulfide (VMS) Project, located on Vancouver Island, British Columbia.

A statement noted that the aim of the phase 1 program is to verify and expand upon the extensive historical drilling along the Coronation Trend and to support the development of an updated mineral resource estimate (MRE) on the Lara Project.

The company also said that it appointed its founder, Sam Eskandari, as chief executive officer, effective May 16, following the retirement of J. Malcolm Bell. Bell is retiring from his executive and directorial roles but will continue to serve Nova Pacific as chair of the advisory board, said the company.

Eskandari, who has nearly a decade of senior executive experience across the public mining sector, has served as a founding director since the company's inception, added Nova Pacific Metals ( NVPCF ).

"This is a pivotal moment for Nova Pacific," said Eskandari. "With drilling underway at Lara, we finally have the opportunity to validate a compelling historical dataset and unlock the project's full potential. I'm honored to lead the Company at this stage and grateful to Mr. Bell for his guidance and continued support as Chair of our Advisory Board."

The company's shares were last seen up $0.015 to $0.15 on the Canadian Securities Exchange.

Price: 0.15, Change: +0.02, Percent Change: +11.11