Nicola Mining Commences Gold Concentrate Production, Commences Diamond Drilling and Engages Red Cloud Financial Services
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.
- Commenced processing gold mill feed from Talisker Resources
- Completed mill upgrades including water recirculation system and process automation
- Holds the only permit in British Columbia to accept third-party gold and silver mill feed
- Started 2024 diamond drilling program targeting copper porphyry and skarn mineralization
- Engaged Red Cloud Financial Services for investor awareness
- None.
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Nicola Mining Inc. (TSXV: NIM) (OTCQB: HUSIF) (FSE: HLIA) (the "Company" or "Nicola") is pleased to announce that it has commenced processing gold mill feed from Talisker Resources Ltd. (TSX: TSK) (OTCQX: TSKFF) ("Talisker"). The Company has also completed further upgrades to the mill that include:
- Water Recirculation System: Installation of a water recirculation system between the mill and lined tailings facility that significantly decreases water consumption.
- Process Automation: Installation of automated processes inside the mill, which streamlines processes, decreases production costs, and facilitates employee safety.
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The Company announced on April 9, 2024, that it had entered into an agreement with Talisker to process gold ore that was being stored at the latter's Bralorne project.
Nicola's Merritt Mill is the only facility in the Province of British Columbia permitted to accept third party gold and silver mill feed from throughout the province.
Nicola holds the following key permits:
Permit | Function |
M-68 | Craigmont Copper Mine |
Merritt Mill Permit | |
Rock Quarry (Turn 5 at New Craigmont) | |
M-239 | Treasure Mountain Silver Mine |
G-15-019 | Gravel Pit |
The Company has also commenced its 2024 diamond drilling program ("2024 Drill Program") with the first holes being drilled at the WP Zone. The 2024 Drill Program targets both copper porphyry and skarn mineralization.
To augment investor awareness, Nicola is pleased to announce that it has engaged Red Cloud Financial Services Inc. ("Red Cloud") to provide media and marketing services (the "Services") for a period of six months from June 28, 2024 (the "Initial Term") renewable on a month-to-month basis thereafter. In consideration for the Services provided during the Initial Term[1]. Nicola will also actively participate in Red Cloud sponsored events, both in person and virtually. The Company has filed a Form 3C concurrent to this news release.
Mr. Peter Espig, CEO of Nicola Mining Inc., commented, "We have seen a significant increase in operational activities, including our gravel pit and rock quarry and the commencement of milling. Interestingly, there has been surge of groups hoping to enter into milling agreements that, not only highlights the strength of our permit, but also indicates increased mining activity in the province."
Qualified Person
William Whitty, P. Geo., the Company's VP Exploration, is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and supervised the preparation of, and has reviewed and approved, the technical information in this release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that maintains a
The Company owns
On behalf of the Board of Directors
"Peter Espig"
Peter Espig
CEO & Director
For additional information
Contact: Peter Espig
Phone: (778) 385-1213
Email: info@nicolamining.com
URL: www.nicolamining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
[1] Nicola has agreed to pay Red Cloud a fee of
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216919
FAQ
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