Nicola Mining Secures Five-Year Lease Extensions at New Craigmont Property and Reports Gold Shipment Revenue
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.
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Nicola Mining Inc. (TSX.V: NIM) (FSE: HLIA) (OTCQB: HUSIF) has received a five-year extension 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. This extension provides long-term security for exploration and development activities at the high-grade copper property, which spans 10,913 hectares along the southern end of the Guichon Batholith.
The company also commenced a 4,000-to-5,000-meter diamond drill program at New Craigmont on June 1, signaling active exploration efforts to define and expand the mineral resource potential of the property. This drilling initiative represents a significant step forward in evaluating the copper deposits that could contribute to future production.
Earlier this month, Nicola reported shipping 707 ounces of gold concentrate in partnership with Talisker Resources Ltd. (TSX: TSK, OTCQX: TSKFF), generating gross proceeds of approximately US$2.3 million. This revenue stream was supported by recent upgrades to the company's Merritt Mill, a fully permitted facility capable of processing both gold and silver mill feed through gravity and flotation processes. The mill and tailings facility, located near Merritt, British Columbia, is 100% owned by Nicola Mining and represents critical infrastructure for the company's operations.
The 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 at https://ibn.fm/WedjL. The company's news and updates are available in its newsroom at https://ibn.fm/HUSIF.
These developments demonstrate Nicola Mining's progress in both exploration and revenue generation. The lease extensions provide stability for long-term planning at a property adjacent to Canada's largest copper mine, suggesting potential for significant mineral discoveries. The successful gold shipments and mill upgrades indicate operational capabilities that could support future production from both partner projects and company-owned properties. For the mining industry, these achievements highlight the importance of maintaining modern processing facilities and securing long-term access to mineral rights for junior mining companies seeking to advance projects toward production.
Curated from InvestorBrandNetwork (IBN)
