Earlier in January, Nicola announced that it had entered into a profit-sharing agreement with Osisko Development under which Osisko can supply its material to Nicola's Merritt processing plant. The Merritt mill site is unique in that the company owns the industrially suitable land. Not to mention, it is the only facility in the Canadian province of British Columbia that has approval to accept third-party gold and silver material from across the province for processing. According to Nicola Minig, gold production can start in March.
Not only that, but the Company expects to receive results from a soil sampling program conducted last year on the New Craigmont property. These results, along with the results of a Z-axis tipper geophysical electromagnetics ("ZTEM") flown over the district, are expected to serve as the basis of an extensive exploration program at New Craigmont to occur this year and be used to define final drill locations.
Nicola Mining CEO Peter Espig stated, "We are very pleased to resume gold production and use operating cash flow to fund exploration at New Craigmont, which we consider our flagship project. The 2023 exploration program will cover known but never before drilled locations on the property, which we can now explore after receiving the multi-year area-based exploration permit with permit number MX-4-697 on November 3, 2022."
Conclusion: After the company seemed to be a kind of "Sleeping Beauty sleep" for a long time, Nicola Mining is now apparently really waking up - and not only behind the scenes. We are eagerly awaiting the start of production in March and the figures that will subsequently be published. Progress on exploration at the New Craigmont copper project could also provide momentum, in our view. Recently, Nicola shares have already made significant gains. We are curious to see where the journey will take this exciting company in 2023.
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