Nicola Mining Inc. reports mineral exploration, milling activity and capital-market developments tied to its Canadian mining assets. Company updates focus on the New Craigmont Copper Project near Merritt, British Columbia, including drilling, geophysical targets and geological work related to skarn and porphyry-style copper mineralization. Nicola also reports ownership of the Treasure Mountain Property and operating updates from its fully permitted Merritt Mill.
Recurring news also covers gold and silver concentrate processing, investor communications, market-making arrangements and U.S. trading structure developments, including American Depositary Shares and warrant offerings associated with its Nasdaq Capital Market listing under NICM.
Nicola Mining (OTCQB: HUSIF) has commenced gold and silver production at its $33.0 million Merritt Mill facility in British Columbia. The company has started receiving ore from Talisker Resources and is undergoing pre-production adjustment, with full capacity expected in Q3. The Merritt Mill is uniquely positioned as BC's only facility permitted to accept third-party gold and silver mill feed province-wide.
The company has multiple strategic developments: a new Milling Agreement with Talisker Resources, partnership with Blue Lagoon Resources for their Dome Mountain Mine, and plans to process ore from their own Dominion Creek Project (75% owned) starting July 2025. Additionally, Nicola is preparing for copper exploration at its New Craigmont Copper Project and has hired Vicente García as Senior Geologist.
Nicola Mining (TSXV: NIM) (OTCQB: HUSIF) has secured the Final Permit for its high-grade Dominion Creek Mineral Project, allowing for a 10,000-tonne gold and silver ore bulk sample extraction. The permit, valid until February 27, 2030, covers the project located 43 kilometers northeast of Wells and 110 kilometers east-southeast of Prince George.
The company owns a 75% economic interest in the project and plans to commence ore extraction in July 2025. Additionally, a Free Use Permit was issued for upgrading the haul road for ore transportation.
In parallel, Nicola has completed a non-brokered private placement, raising $1,130,907.40 through the issuance of 4,038,955 units at $0.28 per unit. After paying $63,827.36 in finder's fees, the net proceeds amount to $1,067,080.00. The company decided on a smaller financing amount due to its current cash position.
Nicola Mining (OTCQB: HUSIF) has received a draft bulk sample permit for the Dominion Creek Mineral Project, allowing extraction of 10,000 tonnes of gold and silver ore. The project, located 43km northeast of Wells and 110km east-southeast of Prince George, is 75% owned by Nicola.
Recent sampling results showed impressive grades from the Number 16 Vein, with a 9.7 kg sample yielding 62.1 g/t Au, 320 g/t Ag, 23.4% Pb, and 12.4% Zn. A separate 26.4 kg historical sample from 1989-1992 returned 58.7 g/t Au, 130 g/t Ag, 7.7% Pb, 4.2% Zn.
The company has already paid the required reclamation deposit and plans to begin ore extraction in July 2025. The extracted ore will be processed at Nicola's wholly owned mill facility.
Nicola Mining (HUSIF) has completed its 2024 Drilling Exploration Program at the New Craigmont Copper Project, totaling 4,874m across 14 holes. The program revealed significant copper findings in the previously unexplored MARB/CAS Zones, with notable intercepts including:
- 52.90m of 1.03% copper in the Embayment Zone (including 13m of 3.46% Cu)
- 75.0m of 0.36% copper in hole NC-24-001
- 40.5m of 0.10% copper in near-surface mineralization
The drilling program confirmed near-surface chalcopyrite mineralization and the presence of faults and dykes within Guichon host rock, suggesting Craigmont mineralization is part of a larger copper system. The company plans follow-up drilling in 2025 to target deeper mineralization beneath the MARB outcrop and explore the WP showing, which features significant malachite and chalcopyrite mineralization.
Nicola Mining Inc. (HUSIF) has released its 2024 Year in Review, highlighting key achievements and 2025 outlook. The company prepaid $1.17M in debentures, leaving a $4.13M balance. Major developments include:
- Completion of a 3D IP survey at New Craigmont Copper Project
- Execution of milling agreement with Talisker Resources
- Construction of a cement plant with secured 2025 contracts
- Extensive drilling program with 14 holes totaling 4,878 metres
- Ten-year mining lease extension for Treasure Mountain through April 2032
The company's 2025 priorities focus on copper exploration at New Craigmont, expanding gold and silver production through mill upgrades, and developing the Treasure Mountain project following its permit extension.
Nicola Mining (TSXV: NIM) has completed its 2024 drilling exploration program at the New Craigmont Copper Project, totaling 4,872m across 14 holes. The program covered three phases: the West Craigmont-WP target (~1,829.70m), the unexplored MARB-CAS Zones, and a step-out towards the Embayment Zone.
The company has made a $137,700 deposit for a Notice of Work and Reclamation Program at the Dominion Creek Gold/Silver Project, where it owns a 75% economic interest and plans a bulk sample in 2025.
Additionally, Nicola has completed a flow-through private placement offering, selling 1,641,790 shares at $0.335 per share for gross proceeds of $550,000. The proceeds will be used to follow up on the 2024 Program.
Nicola Mining has shipped approximately 55 dry tonnes (64 wet tonnes) of concentrate produced jointly with Talisker Resources, containing an estimated grade of 97.75 grams gold per tonne. The concentrate grades have improved during the milling process due to enhanced gold capture through gravity and tabling processes. The processing occurs at Nicola's Merritt Mill, a $30.0 million facility that is uniquely positioned as the only facility in British Columbia permitted to accept third-party gold and silver mill feed province-wide. The Company has secured an offtake agreement with Ocean Partners UK for concentrate sales. Additionally, Nicola is currently conducting drilling operations at the Embayment Zone, following drilling at West Craigmont-WP and MARB-CAS targets.