Dominion Creek bulk sample one step closer
Nicola Mining (TSX.V: NIM, FSE: HLI, WKN: A14T7S) has successfully completed the first drilling on the previously undeveloped Marb and Cas target areas of the New Craigmont copper project. A total of 14 holes were drilled, totalling 4,872 metres.
The drill core is currently being split and prepared for shipment to a certified assay lab – and Nicola is working on getting the results back as soon as possible. This year, Nicola Mining has successfully completed all three planned phases of its exploration programme.
The first phase, which comprised a total of 1,829 metres of drilling, was completed in August. With this, the previously uninvestigated target area West Craigmont-WP had been subjected to an initial investigation, including drilling.
The second phase then targeted the previously unexplored Marb and Cas zones. Both are approximately 3.5 kilometres in diameter and contain smaller mineralised outcrops. However, Nicola Mining’s drilling was not aimed at these outcrops, but rather at penetrating specifically into the area below them in order to determine the mineralisation potential here more precisely.
In the third phase of this year’s drilling programme, both Marb and Cas advanced drilling towards the Embayment Zone from both directions. The aim was to determine whether the mineralisation also continues in this direction.
$137,700 deposit paid for Dominon Creek
Nicola Mining, also on behalf of High Range Exploration Ltd., has in addition paid a deposit of 137,700 Canadian dollars (CAD) for the Dominion Creek gold-silver project for a Notice of Work and Reclamation programme. This is a key component on the way to final approval for the collection of a bulk sample.
If the project is approved by the authorities, a bulk sample will be taken at Dominion Creek next year and then processed at Nicola Mining’s Merritt Mill. The fully permitted mill can process both gold and silver ore using gravity and flotation processes. Nicola Mininig has an economic interest of 75 per cent in the Dominion Creek project. The remaining 25 per cent is held by High Range Exploration.
Nicola has raised additional capital to finance the activities planned for the coming year. This was raised through a placement of tax-advantaged flow-through shares. For gross proceeds of 550,000 Canadian dollars, 1,641,790 new common shares were issued at a price of 0.335 CAD per share.
This activity marks the end of an exciting year of exploration, and shareholders now have every reason to look forward with keen interest to the first results from the laboratory and the approval of the large-scale sampling planned for next year.
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