Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) announced it is in the final stages of preparation to commence gold and silver extraction operations at its Dominion Gold Project in British Columbia. Mill feed extraction is expected to begin during the first week of July, with material processed at the company’s wholly owned Merritt Mill, the only fully permitted milling facility in the province authorized to process gold and silver material from across British Columbia.
In preparation for production, Nicola has completed several key infrastructure and operational initiatives. These include installation of a 14-person operational camp, acquisition of mining equipment, and hiring of operational crews and contractors. The company also strengthened its reclamation profile with an additional $251,000 payment toward reclamation bonding requirements. Management noted that the Dominion project has demonstrated strong mineralization, with vein systems open in all directions and grades of up to 113 grams of gold per tonne. The project is positioned to become a significant source of high-grade mill feed and support future cash flow growth.
The announcement is important because it marks a step toward operational cash flow for Nicola Mining, which owns a 100% interest in the Merritt Mill and tailings facility. The mill can process both gold and silver feed via gravity and flotation processes. Additionally, the company holds 100% ownership of the New Craigmont Project, a high-grade copper property adjacent to Highland Valley Copper, Canada’s largest copper mine, and the Treasure Mountain Property, spanning over 2,200 hectares.
For investors, the progression of the Dominion project could signal near-term revenue generation and increased utilization of the Merritt Mill. The company has also signed Mining and Milling Profit Share Agreements with high-grade gold projects, further diversifying its processing portfolio. The latest news and updates relating to NICM are available in the company’s newsroom at https://ibn.fm/NICM.
The full press release can be viewed at https://ibn.fm/AWGFu.
