Nicola Mining Secures Five-Year Lease Extensions at New Craigmont Property and Reports Gold Shipment Revenue
TL;DR
Nicola Mining secured a five-year lease extension and began drilling at New Craigmont, positioning it advantageously near Canada's largest copper mine for potential gains.
Nicola Mining extended six leases over 10,800 hectares, initiated a 4,000-5,000m drill program, and upgraded its mill to process gold and silver via gravity and flotation.
Nicola Mining's operations and partnerships support local economies and advance sustainable resource extraction, contributing to regional development and responsible mining practices.
Nicola Mining recently shipped 707 ounces of gold concentrate, generating $2.3 million, while exploring a high-grade copper property adjacent to Canada's largest copper mine.
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Nicola Mining Inc. has secured five-year extensions for six mining leases at its New Craigmont Property, covering more than 10,800 hectares adjacent to Teck Resources' Highland Valley Copper Mine, Canada's largest copper operation. The lease extensions provide long-term security for the company's exploration and development activities in this strategically important mining region.
The company simultaneously launched a 4,000-to-5,000-meter diamond drill program at New Craigmont on June 1, signaling accelerated exploration efforts following the lease extensions. This drilling campaign represents a significant investment in defining the property's mineral potential and could lead to substantial resource expansion.
Earlier this month, Nicola Mining reported shipping 707 ounces of gold concentrate in partnership with Talisker Resources Ltd., generating gross proceeds of approximately US$2.3 million. This revenue stream demonstrates the operational capability of the company's Merritt Mill, which recently underwent upgrades to enhance processing efficiency.
The coverage provided by Mark Reichman, Managing Director and Equity Research Analyst at Noble Capital Markets, offers professional analysis of these developments. Investors can access the full report at https://ibn.fm/WedjL for detailed financial and technical assessment.
The New Craigmont Project represents a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith. Its proximity to Highland Valley Copper, Canada's largest copper mine, provides strategic advantages including established infrastructure and proven mineralization patterns in the region.
Nicola Mining maintains additional assets including the Treasure Mountain Property, which comprises 30 mineral claims and a mineral lease spanning over 2,200 hectares. The company's diversified portfolio positions it to capitalize on both copper and gold market opportunities.
The latest news and updates relating to Nicola Mining are available in the company's newsroom at https://ibn.fm/HUSIF, providing investors with ongoing information about corporate developments and operational progress.
These developments are significant for the mining industry as they demonstrate continued investment in Canadian mineral exploration despite market fluctuations. The lease extensions provide stability for long-term planning, while the successful gold shipments validate Nicola Mining's operational capabilities and revenue generation potential.
Curated from InvestorBrandNetwork (IBN)
