Vancouver, British Columbia--(Newsfile Corp. - March 6, 2025) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF) (the "Company" or "Nicola") is pleased to announce that it has received the draft bulk sample permit1 ("Draft Permit") for its Dominion Creek Mineral Project ("Dominion"), a high grade gold and silver project, of which Nicola owns a 75% economic interest.
The draft permit, issued by the British Columbia Ministry of Mining and Critical Minerals, outlines the regulatory framework to extract 10,000 tonnes of gold and silver ore at Dominion, which is located 43 kilometers northeast of the Town of Wells and approximately 110 kilometers east-southeast of Prince George.
As announced in its August 3, 2023, news release, Nicola conducted due diligence, which included a site visit and sampling. Results from a 9.7 kg sample of outcropping sulfide mineralization taken from the Number 16 Vein returned 62.1 g/t Au, 320 g/t Ag, 23.4% Pb, and 12.4% Zn. Additionally, the owner of the property provided 26.4 kg of mineralized material selected from a bulk sample extracted between 1989 and 1992. The 26.4 kg sample had the following grades: 58.7 g/t Au, 130 g/t Ag, 7.7% Pb, 4.2% Zn, 1.49% Fe, and 4.65% S2.
Nicola has already paid the required reclamation deposit3 on behalf of itself and High Range Exploration Ltd. ("High Range") for a Notice of Work and Reclamation Program while the latter has been actively prepping towards ore extraction, which is targeted to commence in July of 2025. Ore from the bulk sample will be transported to Nicola's wholly owned mill for processing.
Receipt of the Draft Permit is the culmination Nicola and High Range working closely together to complete environmental requirements, mine plan and consultation. The milestone is attributable to behind-the-scenes hard work from the two teams, both of whom remain committed to meeting the highest environmental, safety, and community standards
"The two parties have worked closely together for three years to garner this milestone," said Peter Espig, President & CEO of Nicola. "High Range President, Alan Raven, has been associated with the project for over two decades and first submitted the application in 2018. To finally be able to move forward with a mine plan is another step forward for Nicola's goal of creating shareholder value and we are fortunate to have Alan's knowledge, experience, and passion solidify the partnership."
Alan Raven, President of High Range, commented, "Nicola and its team are not only professional, but also exemplify integrity and passion. High Range is fortunate to have found such a partner and we look forward to making the project a success for all."
Qualified Person
William Whitty, P. Geo., VP of Exploration for the Company, is the Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects has reviewed and approved the technical disclosure contained in this news release.
About Nicola Mining
Nicola Mining Inc. 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, which covers an area of over 10,800 hectares along the southern end of the Guichon Batholith and is adjacent to Highland Valley Copper, Canada's largest copper mine. The Company also owns 100% of the Treasure Mountain Property, which include 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
On behalf of the Board of Directors
"Peter Espig"
Peter Espig
CEO & Director
For additional information
Contact: Peter Espig
Phone: (778) 385-1213
Email: info@nicolamining.com
Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Bulk Sample: An exploration and development activity conducted on a mineral claim to investigate the metallurgical properties of an ore body, to test extractive milling methods, mill equipment, and potential markets.
2 It should be noted that 80 tonnes of concentrate were shipped and processed at the Cominco smelter in Trail in 1992, which is a lower grade than samples taken. The mill head grade determined for the bulk sample was 14.1 g/t Au and the average gold recovery was 93%.
3 Nicola announced on December 4, 2024, that it had paid the $137,000 reclamation bond.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243457
