Tag: Nicola Mining Inc

Impact: Positive

Nicola to recommence milling for Gavin Mines, positioning itself as the only permitted mill to process third party Au-Ag ore. The mine anticipates shipping up to 40ktpy (~11.2g/t Au & ~100.8g/t Ag) to the Merritt Mill, which only fills ~50% of the mill’s capacity, leaving the remaining capacity open to be fed by other mines. The announcement supports our thesis of custom milling being a sweetener to what we believe is a high-potential copper-focused exploration story.

Impact: Positive

Higher cut-off grades applied by historic operators appear to have left a potential bulk mineable copper resource. Following positive results from the Phase 1 RC drilling program, Nicola is proceeding with Phase 2, focused on the South Waste Piles and 3060 Ore Portal zones. The objective is to define a resource for the copper-magnetite bearing crushed materials left behind at surface by previous operators. We note that a Waste Pile processing operation could help kick start a larger copper mining project at New Craigmont or be of interest to Teck Resources operating the low-grade Highland Valley copper mine next door. We continue to view Nicola as a high-potential copper exploration story and await results from diamond drilling of the mineralized halo surrounding the existing pit and previously identified porphyry targets.

Impact: Positive

Nicola Mining has announced the intersection of 73.6m grading 1.05% Cu, within a wider interval of 150m grading 0.54% Cu (CC-18-02) ~100m north of the historic Craigmont open pit, within the company’s active Mine Permit M-68.

Impact: Mildly Positive

Nicola Mining has released results from its 20-hole Phase 1 Reverse Circulation (RC) drill program designed to test the 80-90Mt historic wastepile surrounding the Craigmont Mine Pit, at the New Craigmont Project in B.C.