Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has announced two significant developments: the extension of its Rock and Gravel Extraction and Preferential Engagement Agreement with Lower Nicola Site Services Ltd. (LNSS) through March 3, 2033, and the completion of its first diamond drilling program at the MB Zone of its Treasure Mountain Silver Project.
The agreement grants LNSS exclusive rights to extract gravel and rock from the Craigmont Mine Site near Merritt, British Columbia, with Nicola receiving per-tonne royalties. The extension also maintains preferential engagement provisions for competitive services provided by LNSS, supporting continued collaboration and Indigenous economic participation. This long-term extension provides Nicola with a stable revenue stream and strengthens its relationship with LNSS, which is partly owned by the Lower Nicola Indian Band. The move underscores the company's commitment to fostering economic partnerships with Indigenous communities while advancing its operational goals.
In addition to the agreement extension, Nicola has completed its first diamond drilling program at the MB Zone of its Treasure Mountain Silver Project. The four-hole program totaled approximately 800 meters and targeted a previously undrilled quartz-sulphide vein system. Geological logging and core sampling are underway, with laboratory assays pending. Preliminary visual observations identified intervals of sulphide mineralization, including pyrite, pyrrhotite and sphalerite, although analytical results are required to assess the findings. The company also anticipates assay results from its 2026 New Craigmont copper exploration program.
These developments are important for Nicola Mining as they demonstrate progress on multiple fronts. The Craigmont extension ensures ongoing royalty income and operational synergy, while the Treasure Mountain drilling represents a potential new discovery that could expand the company's resource base. For investors, the news signals active exploration and a focus on generating value from its portfolio of assets. The involvement of LNSS also highlights the company's engagement with local communities, which can enhance its social license to operate.
Nicola Mining is a junior mining company listed on the Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has signed Mining and Milling Profit Share Agreements with high grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed via gravity and flotation processes. The company owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith and adjacent to Highland Valley Copper, Canada's largest copper mine. It also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
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