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 Inc. (TSXV: NIM) (OTCQB: HUSIF) provides updates on its operations and exploration activities:
1. Merritt Mill: Producing gold concentrate from Talisker Resources' mill feed, with initial sale expected in September. It's the only facility in BC permitted to accept third-party gold and silver mill feed province-wide.
2. New Craigmont Copper Project: 2024 exploration program underway with 1,500m of 5,000m planned drilling completed. Initial results show encouraging alteration and mineralization, aligning with expectations for a porphyry system's periphery.
3. Treasure Mountain Mine: Received a important 10-year mining lease extension until April 26, 2032. The mine has a history of silver, lead, and zinc production, with potential for reopening.
CEO Peter Espig expressed excitement about current operations and ongoing exploration, highlighting the synergy between Merritt Mill and Treasure Mountain.
Nicola Mining Inc. (TSXV: NIM) (OTCQB: HUSIF) has begun processing gold mill feed from Talisker Resources at its Merritt Mill, the only facility in British Columbia permitted to accept third-party gold and silver mill feed province-wide. The company has completed mill upgrades, including a water recirculation system and process automation, enhancing efficiency and safety.
Nicola has also started its 2024 diamond drilling program, targeting copper porphyry and skarn mineralization at the WP Zone. To boost investor awareness, the company has engaged Red Cloud Financial Services for media and marketing services. CEO Peter Espig noted a significant increase in operational activities and interest in milling agreements, indicating heightened mining activity in the province.
Nicola Mining has completed a 3D induced polarization (IP) survey at its New Craigmont Copper Project near Merritt, BC. The survey, conducted by Dias Geophysical, covered approximately 6.5 square kilometers and focused on the MARB-CAS and West Craigmont Zones. Key findings include significant resistivity and chargeability anomalies that indicate potential copper-rich areas. Based on these results, Nicola has commenced its 2024 diamond drilling program, targeting 5,000 meters of core drilling. Initial drilling will focus on the West Craigmont Zone, with possible expansion to the MARB/CAS areas later in the summer.
Nicola Mining and High Range Exploration have initiated work at the Dominion Creek Gold/Silver Project. Nicola Mining has provided $50,000 in funding to High Range Exploration for road construction, which will support bulk sample exploration after a permit is obtained. Nicola holds a 75% economic interest in Dominion. High Range received support from First Nations and submitted a revised 10,000-tonne bulk sample application to the Ministry of Energy, Mines and Low Carbon Innovation. Past sampling at Dominion revealed high-grade gold and silver results but progress was delayed due to COVID-19 and permit adjustments. Work began in early June 2024.
Nicola Mining has begun a 3D induced polarization (IP) survey at its New Craigmont Copper Project, located near Merritt, BC. Dias Geophysical is conducting this survey to refine two key exploration zones: MARB-CAS and WP-MARB 72. The survey spans approximately 6.5 square kilometers and aims to enhance the 2024 diamond drilling program. Historical IP surveys have shown strong correlations between chargeability anomalies and copper mineralization. This survey is expected to identify potential extensions and new drilling targets, particularly in areas with previously detected anomalies. Nicola Mining uses advanced 3D array technology to survey depths up to 700 meters, promising to improve the delineation of mineralized zones.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.