Nicola Mining Provides Updates on Exploration, Operations and Announces Closing of Flow-Through Non-Brokered Private Placement
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 (TSXV: NIM) ha completato il suo programma di esplorazione di perforazione per il 2024 presso il Progetto Copper di New Craigmont, per un totale di 4.872 metri distribuiti su 14 fori. Il programma ha coperto tre fasi: il target West Craigmont-WP (~1.829,70 metri), le Zone MARB-CAS inesplorate e un'espansione verso la Zona Embayment.
L'azienda ha effettuato un deposito di $137.700 per un Avviso di Lavoro e un Programma di Ripristino presso il Progetto Gold/Silver di Dominion Creek, dove possiede un interesse economico del 75% e prevede un campionamento di massa nel 2025.
Inoltre, Nicola ha completato un'offerta di collocamento privato con flusso, vendendo 1.641.790 azioni a $0,335 per azione, per proventi lordi di $550.000. I proventi saranno utilizzati per seguire il Programma 2024.
Nicola Mining (TSXV: NIM) ha completado su programa de perforación para la exploración de 2024 en el Proyecto de Cobre New Craigmont, totalizando 4,872 metros a través de 14 pozos. El programa abarcó tres fases: el objetivo West Craigmont-WP (~1,829.70 metros), las Zonas MARB-CAS inexploradas y una expansión hacia la Zona Embayment.
La compañía ha realizado un depósito de $137,700 para un Aviso de Trabajo y un Programa de Restauración en el Proyecto de Oro/Plata Dominion Creek, donde posee un interés económico del 75% y planea una muestra a granel en 2025.
Además, Nicola ha completado una oferta de colocación privada con flujo, vendiendo 1,641,790 acciones a $0.335 por acción, obteniendo ingresos brutos de $550,000. Los ingresos se utilizarán para continuar con el Programa de 2024.
니콜라 마이닝 (TSXV: NIM)은 뉴 크레이그몬트 구리 프로젝트에서 2024년 드릴링 탐사 프로그램을 완료했습니다. 총 4,872미터에 걸쳐 14개의 구멍을 뚫었습니다. 프로그램은 세 가지 단계로 나누어졌습니다: 웨스트 크레이그몬트-WP 목표(~1,829.70미터), 미탐사 MARB-CAS 구역, 및 엠베이먼트 존으로의 확장입니다.
회사는 도미니언 크릭 금/은 프로젝트에 대한 작업 알림 및 복원 프로그램에 대해 $137,700의 예치를 완료했으며, 이곳에서 75%의 경제적 지분을 보유하고 있으며 2025년에 대량 샘플링을 계획하고 있습니다.
추가로, 니콜라는 유동성을 갖춘 사모 배치 제공을 완료했으며, 주당 $0.335에 1,641,790주를 판매하여 총 $550,000의 수익을 올렸습니다. 수익금은 2024 프로그램을 추진하는 데 사용될 예정입니다.
Nicola Mining (TSXV: NIM) a achevé son programme de forage d'exploration 2024 au projet de cuivre New Craigmont, totalisant 4 872 mètres répartis sur 14 trous. Le programme a couvert trois phases : l'objectif West Craigmont-WP (~1 829,70 mètres), les zones MARB-CAS inexplorées et une extension vers la zone Embayment.
La société a effectué un dépôt de 137 700 $ pour un Avis de Travail et un Programme de Rétablissement au projet d'or/argent Dominion Creek, où elle détient un intérêt économique de 75 % et prévoit un échantillonnage en vrac en 2025.
De plus, Nicola a réalisé une offre de placement privé en flux, vendant 1 641 790 actions à 0,335 $ par action pour des recettes brutes de 550 000 $. Les recettes seront utilisées pour suivre le programme de 2024.
Nicola Mining (TSXV: NIM) hat sein Bohrprogramm für 2024 im New Craigmont Copper Project abgeschlossen, welches insgesamt 4.872 Meter in 14 Bohrlöchern umfasste. Das Programm deckte drei Phasen ab: das Ziel West Craigmont-WP (~1.829,70 Meter), die unerforschten MARB-CAS-Zonen und eine Ausdehnung zur Embayment Zone.
Das Unternehmen hat eine Anzahlung von 137.700 $ für eine Arbeits- und Rekultivierungsbenachrichtigung im Dominion Creek Gold/Silber-Projekt geleistet, wo es einen ökonomischen Anteil von 75 % besitzt und 2025 eine Bulk-Probe plant.
Darüber hinaus hat Nicola ein Flow-Through-Private-Placement-Angebot abgeschlossen und 1.641.790 Aktien zu je 0,335 $ verkauft, was zu einem Bruttoertrag von 550.000 $ führte. Die Einnahmen werden verwendet, um das Programm 2024 weiter zu verfolgen.
- Completed extensive drilling program (4,872m across 14 holes)
- Made $137,700 deposit for Dominion Creek Project permit
- Successfully raised $550,000 through private placement
- Core analysis results pending, no confirmation of mineralization yet
Vancouver, British Columbia--(Newsfile Corp. - December 4, 2024) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF) (the "Company" or "Nicola"), has completed drilling (totaling 4872m and 14 holes) and is pleased to provide updates on its 2024 drilling exploration program (the "2024 Program")1 at its New Craigmont Copper Project, near Merritt, B.C.
The first phase of the 2024 Program at the never-before-drilled West Craigmont-WP target totaled ~1829.70m, with initial findings reported in the August 30, 2024 Operations and Exploration Update. The second phase targeted the unexplored MARB-CAS Zones, both of which are approximately 3.5 km in diameter. Drilling aimed to develop a subsurface geology framework and assess mineralization potential beneath two small mineralized outcrops, one at the MARB Zone and another at the CAS Zone. The third phase stepped out from the MARB-CAS Zones towards the Embayment Zone to see if there was a continuation of mineralization. (Fig. 1)
Figure 1. Collar locations of 2024 drilling campaign at the New Craigmont Project.
To view an enhanced version of this graphic, please visit:
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The Company is finalizing core cutting, which will then be sent to a certified laboratory for expedited analysis and looks forward to issuing a news release with grades upon receipt.
The Company is also pleased to announce that it has made a deposit of
Flow-Through Non-Brokered Private Placement
Nicola also announces that, further to its news release dated November 14, 2024, it has completed its flow-through private placement offering (the "Offering"), pursuant to which it sold an aggregate of 1,641,790 common shares (each, a "Share") in the capital of the Company at a price of price of
The Shares are issued on a "flow-through" basis pursuant to the Income Tax Act (Canada) and in accordance with the policies of the TSX Venture Exchange. The Company paid an aggregate of
The aggregate gross proceeds from the Offering are expected to be allocated towards following up on the 2024 Program. All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from date of issuance.
Peter Espig, the CEO and a director of the Company, subscribed for a total of 44,776 Shares under the Offering, which is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to Mr. Espig is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the Shares to be issued to Mr. Espig does not exceed
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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
Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation: statements with respect to the commencing of a bulk sample which will be processed at its Merritt Mill; the expectations of management regarding the use of proceeds of the Offering; and general statements regarding the Company's anticipated strategies and business plans going forward. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will support the viability of mining exploration; the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of its properties as well as in relation to the Offering, as applicable; the availability of the financing required for the Company to carry out its planned future activities, and the availability of and the ability to retain and attract qualified personnel. Other factors may also adversely affect the future results or performance of the Company, including general economic, market or business conditions, future prices of minerals, changes in the financial markets and in the demand for minerals, changes in laws, regulations and policies affecting the mineral exploration industry, as well as the risks and uncertainties which are more fully described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's SEDAR+ profile. The ongoing labour shortages, inflationary pressures, rising interest rates, the global financial climate and the conflicts in Ukraine and Palestine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The Company does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.
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 See the Company's news release dated July 3, 2024 for more information on the 2024 Program.
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FAQ
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