Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has announced two significant developments: the extension of its Rock and Gravel Extraction and Preferential Engagement Agreement with Lower Nicola Site Services Ltd. (LNSS) through March 3, 2033, and the completion of its first diamond drilling program at the MB Zone of its Treasure Mountain Silver Project. The news, disseminated on behalf of Nicola Mining Inc., underscores the company's dual focus on near-term cash flow and long-term exploration potential.
The agreement extension grants LNSS exclusive rights to extract gravel and rock from the Craigmont Mine Site near Merritt, British Columbia. Nicola will receive per-tonne royalties, providing a steady revenue stream. The deal also maintains preferential engagement provisions for competitive services provided by LNSS, supporting continued collaboration and Indigenous economic participation. This extension secures a reliable source of income for Nicola while fostering local partnerships, a key factor for mining companies operating in British Columbia.
At the Treasure Mountain Silver Project, Nicola completed a four-hole diamond drilling program totaling approximately 800 meters. The program targeted a previously undrilled quartz-sulphide vein system at the MB Zone. Geological logging and core sampling are underway, with laboratory assays pending. Preliminary visual observations identified intervals of sulphide mineralization, including pyrite, pyrrhotite, and sphalerite. While these visual indicators are encouraging, analytical results are required to assess the economic significance of the findings. The company also anticipates assay results from its 2026 New Craigmont copper exploration program.
These developments matter because they signal progress on multiple fronts for a junior miner. The Craigmont extension provides a stable royalty base, while Treasure Mountain offers exploration upside. Investors will watch for assay results to gauge the potential of the MB Zone. Nicola's fully permitted mill near Merritt can process both gold and silver mill feed via gravity and flotation processes, and the company owns 100% of the New Craigmont Project, a high-grade copper property spanning 10,913 hectares adjacent to Highland Valley Copper, Canada's largest copper mine. It also owns 100% of the Treasure Mountain Property, covering over 2,200 hectares with 30 mineral claims and a mineral lease.
The announcement was distributed through NetworkNewsWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. Through InvestorWire, NetworkNewsWire provides wire solutions and editorial syndication to 5,000+ outlets, along with press release enhancement and social media distribution to millions of followers. For full terms, see the https://www.NetworkNewsWire.com/Disclaimer.
