{kanada_flagge}Together with Osisko Development, Nicola Mining (TSX.V: NIM, FSE: HLI) has begun shipping its first gold concentrate. On its way to the refineries were approximately 160 tonnes of concentrate with an estimated gold grade of 90 g/t.
{kanada_flagge}Together with Osisko Development, Nicola Mining (TSX.V: NIM, FSE: HLI) has begun shipping its first gold concentrate. On its way to the refineries were approximately 160 tonnes of concentrate with an estimated gold grade of 90 g/t.
The gold concentrate is being sold under an offtake agreement that Nicola Mining has also entered into with Ocean Partners UK Limited. Osisko Development in turn delivered the ore to Nicola’s gold processing plant located in the Canadian province of British Columbia, near the town of Merritt.
By sharing in the proceeds from the sale of the gold concentrate, Nicola Mining is able to generate revenues, which can then be used to further the company’s overall goals and exploration of its own projects.
First drilling completed at New Craigmont
The latter is now progressing well, with Nicola Mining having successfully completed the first four diamond drill holes of the 2023 Exploration Program. Initial drilling targets potential skarn mineralization that has yet to be explored with drilling. The area is located only 500 meters in eastern direction from the historic pit.
Regarding the objective of the drilling, Nicola Mining had already announced in early May that a better understanding of the lithologies of the Nicola Group was being sought. Based on currently available data, the skarn mineralization is expected to follow a trend associated with calcareous sediments within the Nicola Group sequence.
Now the drill cores are being prepared for shipment to the laboratory and will be shipped shortly. Kevin Wells will coordinate the work as the Company’s consulting geologist. He is also the independent Qualified Person responsible for the work and the reports on it in accordance with Canadian Mining Standard NI 43-101.
The University of British Columbia is also getting active at New Craigmont
Not only Nicola Mining’s geological team will be active on the project this summer. The Mineral Deposit Research Unit of the University of British Columbia has also announced its visit. It will be active on the property starting in early August to prove the existence of copper porphyry systems and determine their potential. The copper-bearing propylitic outcrops will be examined to identify possible porphyry centers on the deposit.
Conclusion: After spending a lot of time in the past months on the thorough planning of this year’s drill program, the drills are finally turning. Investors thus have two reasons to be happy, because firstly, the new drilling program has started well and secondly, Nicola Mining has stable and permanent income from the ore processing for Osisko Development available for the time being.
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