{kanada_flagge}In a letter to Nicola Mining (TSXV:NIM;FRA:HLI) shareholders, CEO Peter Espig characterized the past year of 2022 as “exceptional.” It characterized the year as a bridge year that set the stage for an even more successful 2023, Espig said. He announced that Nicola is expected to restart production of gold concentrate in the first quarter of 2023. A letter of intent to that effect with Osisko Development Corp (NYSE: ODV, TSX.V: ODV) had been signed Dec. 2, 2022. Operations will be conducted at the Company’s processing plant, which is the only permitted mill facility in British Columbia capable of accepting gold and silver mill material from across the province.
{kanada_flagge}In a letter to Nicola Mining (TSXV:NIM;FRA:HLI) shareholders, CEO Peter Espig characterized the past year of 2022 as “exceptional.” It characterized the year as a bridge year that set the stage for an even more successful 2023, Espig said. He announced that Nicola is expected to restart production of gold concentrate in the first quarter of 2023. A letter of intent to that effect with Osisko Development Corp (NYSE: ODV, TSX.V: ODV) had been signed Dec. 2, 2022. Operations will be conducted at the Company’s processing plant, which is the only permitted mill facility in British Columbia capable of accepting gold and silver mill material from across the province.
Gravel and rock as the foundation for success
The foundation for 2022 success was laid through a rock and gravel mining agreement. Under the joint umbrella of Lower Nicola Site Services Ltd (“LNSS”), in which Nicola holds a majority interest, a partnership was reached between the Lower Nicola Indian Band Development Corporation and Infracon Construction Inc. The agreement demonstrates a desire to work closely with interested First Nations groups, Espig said. “Together with LNSS, we were able to play a critical role in rebuilding key infrastructure affected by the November 2021 floods.”
Since receiving a Notice of Departure (“NoD”) and subsequent approval from the Ministry of Forests, Nicola and LNSS have worked closely to provide gravel and crushed stone to local communities, for which the company receives a royalty. The creativity in finding revenue sources to fund reclamation and exploration is due to management’s ability to think outside the box. We remain true to our environmental commitments and are currently hiring a full-time environmental manager to facilitate communication with First Nations and communities and implement our environmental compliance initiatives.
Major milestones for the New Craigmont copper exploration project
At the same time, important progress was made on the New Craigmont property: On September 13, 2022, the Company announced the completion of a district-wide airborne geophysical survey and associated inversion modeling results completed across the property. Given the size, location and history of the property, the results of the ZTEM survey are very interesting: two large and prominent (>3×5 km and >3×10 km) NW-SE and WSW-ENE elongated intrusive magnetic high bodies defined in the northwest and east-central portions of the block. A large (>6 km x 6 km) magnetic low in the SW corner of the claim block. A prominent north-south conductive contact at the western edge of the claim block corresponding to the Lornex fault. An oval >6 x 3 km resistivity level corresponding with the western part of the >3 x 10 km magnetic high. A large WNW to EW to ENE trending 4 km long conductive contact corresponding with the eastern extent of the >3 x 10 km magnetic high.
The historic Craigmont Copper Mine was one of the highest grade historic copper mines in North America (average grade of 1.3% Cu) during its 20 years of operation. The project is adjacent to Canada’s largest copper mine, Highland Valley Copper, and holds a mining permit (M-68). Nicola Mining Inc. is the first consolidated owner of the property, having consolidated its shareholder structure in November 2015 for the first time in decades. Despite the historical grades and location of the property, there was no exploration work on the property prior to Nicola’s acquisition. The significant difference between maintaining a mining permit and an “exploration project” cannot be understated. In British Columbia, it takes approximately 13 years to move from the discovery phase to a mining permit.
Multi-year exploration permit issued
On November 3, 2022, Nicola was granted a multi-year area-based exploration permit with permit number MX-4-697 (the “MYAB Permit”). The MYAB Permit allows the Company to conduct the following key exploration activities: Geophysical survey with exposed electrodes; 190 diamond drill holes; and 12 km of prospecting/bulk sampling on a 6 ha fault.
He said Nicola would now move quickly to hire a full-time VP of Exploration and Diamond Drill Exploration Operations. Espig announced further updates in the near future on the planned exploration program, which is expected to commence in late spring 2023.
Disclaimer: The GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish comments, analyses and news on http://www.goldinvest.de. These contents serve exclusively the information of the readers and do not represent any kind of call to action, neither explicitly nor implicitly they are to be understood as an assurance of possible price developments. Furthermore, they do not in any way replace individual expert investment advice and do not constitute an offer to sell the stock(s) discussed or a solicitation to buy or sell securities. This is expressly not a financial analysis, but an advertising / journalistic text. Readers who make investment decisions or carry out transactions on the basis of the information provided here do so entirely at their own risk. There is no contractual relationship between the GOLDINVEST Consulting GmbH and its readers or the users of its offers, because our information refers only to the company, but not to the investment decision of the reader.
The acquisition of securities involves high risks, which can lead to a total loss of the invested capital. The information published by GOLDINVEST Consulting GmbH and its authors is based on careful research. Nevertheless, any liability for financial losses or the content guarantee for topicality, correctness, adequacy and completeness of the articles offered here is expressly excluded. Please also note our terms of use.
According to §34b WpHG and § 48f Abs. 5 BörseG (Austria) we would like to point out that GOLDINVEST Consulting GmbH and/or partners, principals or employees of GOLDINVEST Consulting GmbH may hold shares of Nicola Mining Inc. and therefore a conflict of interest could exist. GOLDINVEST Consulting GmbH also reserves the right to buy or sell shares of the company at any time. Under certain circumstances this can influence the respective share price of the company. GOLDINVEST Consulting GmbH currently has a commissioned relationship with the company or would like to enter into a commissioned relationship with the company, which is reported on in the context of the internet offer of GOLDINVEST Consulting GmbH as well as in the social media, on partner pages or in email messages, which also represents a conflict of interest. The above references to existing conflicts of interest apply to all types and forms of publication used by GOLDINVEST Consulting GmbH for publications on Nicola Mining Inc. We also cannot exclude that other stock letters, media or research firms discuss the stocks we discuss during the same period. Therefore, symmetrical information and opinion generation may occur during this period. No guarantee can be given for the correctness of the prices mentioned in the publication.
