07:50:46 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Nicola Mining Inc
Symbol NIM
Shares Issued 292,022,677
Close 2023-01-09 C$ 0.115
Market Cap C$ 33,582,608
Recent Sedar Documents

Nicola signs mining, milling deal with Osisko Dev

2023-01-09 10:49 ET - News Release

Also News Release (C-ODV) Osisko Development Corp (2)

Mr. Peter Espig of Nicola reports

NICOLA MINING INC. AND OSISKO DEVELOPMENT CORP. ENTER INTO A MINING AND MILLIING PROFIT SHARE AGREEMENT

Nicola Mining Inc. and Osisko Development Corp. have signed a mining and milling profit share agreement. Under the agreement, Osisko may transport material to Nicola's mill site, located near Merritt, B.C. Nicola's Merritt mill site is a unique milling and processing facility because the company owns the industrial-zoned site freehold.

The approximate $30-million facility is also the location of the historic Craigmont copper mine, which had a historic production grade of 1.3 per cent copper (Cu). The company is in the process of planning its 2023 exploration program, which will be announced at a later date.

The company had announced on Dec. 2, 2022, that the two parties had entered into memorandum of understanding for the processing of gold mill feed currently stock piled at Osisko's site, located in the Cariboo mining district in east-central British Columbia, east and southeast of Quesnel. Nicola's Merritt mill is the only facility in British Columbia permitted to accept third party gold and silver mill feed from throughout the province.

Qualified person

Kevin Wells, PGeo, a consulting geologist to the company, is the independent qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects) for the technical disclosure contained in this news release.

About Nicola Mining Inc.

Nicola Mining is a junior mining company that maintains a 100-per-cent-owned mill and tailings facility, located near Merritt, B.C. 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 through gravity and flotation processes.

The company owns 100 per cent of the New Craigmont project, a high-grade copper property, which covers an area of 10,084 hectares along the southern end of the Guichon batholith and is adjacent to Teck Resources Ltd.'s Highland Valley Copper, Canada's largest copper mine. The company also owns 100 per cent of the Treasure Mountain property, consisting of 29 mineral tenures covering 2,178 hectares (ha), and a mining lease covering 335 ha.

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