Nicola Mining Secures Five-Year Lease Extensions at New Craigmont Property While Advancing Exploration and Revenue Generation
TL;DR
Nicola Mining secured a five-year lease extension and began drilling at New Craigmont, positioning it advantageously near Canada's largest copper mine for potential gains.
Nicola Mining extended six leases over 10,800 hectares, initiated a 4,000-5,000m drill program, and upgraded its mill to process gold and silver via gravity and flotation.
Nicola Mining's operations and partnerships support local economies and advance sustainable resource extraction, contributing to regional development and responsible mining practices.
Nicola Mining recently shipped 707 ounces of gold concentrate, generating $2.3 million, while exploring a high-grade copper property adjacent to Canada's largest copper mine.
Found this article helpful?
Share it with your network and spread the knowledge!
Nicola Mining Inc. has secured five-year extensions for six mining leases at its New Craigmont Property, covering more than 10,800 hectares adjacent to Teck Resources' Highland Valley Copper Mine, the largest copper operation in Canada. The lease extensions provide long-term security for the company's exploration and development activities in this strategically important mining region. This development is particularly significant given the property's location along the southern end of the Guichon Batholith, a geological formation known for its mineral richness.
Concurrently, Nicola Mining reported shipping 707 ounces of gold concentrate in partnership with Talisker Resources Ltd., generating gross proceeds of approximately US$2.3 million. This revenue stream has been supported by recent upgrades to the company's Merritt Mill facility, enhancing its processing capabilities for both gold and silver mill feed through gravity and flotation processes. The company's fully permitted mill and tailings facility near Merritt, British Columbia, provides critical infrastructure support for current and future operations, creating a sustainable foundation for ongoing mineral processing activities.
The company has also initiated a substantial 4,000-to-5,000-meter diamond drill program at New Craigmont, which began on June 1. This exploration program represents a significant investment in defining the property's mineral potential, particularly given its location along the southern end of the Guichon Batholith and adjacency to Canada's largest copper mine. The combination of extended mineral leases, active drilling programs, and revenue generation from gold shipments demonstrates Nicola Mining's progress in advancing its portfolio of mining assets.
Coverage of these developments was provided by Mark Reichman, Managing Director and Equity Research Analyst at Noble Capital Markets. Investors seeking detailed analysis can access the full report through https://ibn.fm/WedjL for comprehensive market insights. Additional information and updates relating to Nicola Mining are available through the company's newsroom at https://ibn.fm/HUSIF, providing stakeholders with ongoing access to corporate developments and operational milestones.
Curated from InvestorBrandNetwork (IBN)
