Nicola Mining and High Range Exploration Receive Draft Permit for High Grade Dominion Creek Mineral Project
Nicola Mining and High Range Exploration
Receive Draft Permit for High Grade Dominion
Creek Mineral Project
Vancouver, British Columbia--(Newsfile Corp. - March 6, 2025) - Nicola Mining Inc.
(TSXV: NIM) (FSE:
HLIA) (OTCQB: HUSIF)
(the
"
Company
" or "
Nicola
"
) is pleased to announce that it has received the
draft bulk sample permit
1
("
Draft Permit
") for its Dominion Creek Mineral Project ("
Dominion
"), a high
grade gold and silver project, of which Nicola owns a 75% economic interest.
The draft permit, issued by the British Columbia Ministry of Mining and Critical Minerals, outlines the
regulatory framework to extract 10,000 tonnes of gold and silver ore at Dominion, which is located 43
kilometers northeast of the Town of Wells and approximately 110 kilometers east-southeast of Prince
George.
As announced in its
August 3, 2023, news release
, Nicola conducted due diligence, which included a
site visit and sampling.
Results from a 9.7 kg sample of outcropping sulfide mineralization taken from the
Number 16 Vein returned 62.1 g/t Au, 320 g/t Ag, 23.4% Pb, and 12.4% Zn.
Additionally, the owner of
the property provided 26.4 kg of mineralized material selected from a bulk sample extracted between
1989 and 1992. The 26.4 kg sample had the following grades: 58.7 g/t Au, 130 g/t Ag, 7.7% Pb, 4.2%
Zn, 1.49% Fe, and 4.65% S
2
.
Nicola has already paid the required reclamation deposit
3
on behalf of itself and High Range Exploration
Ltd. ("
High Range
") for a Notice of Work and Reclamation Program while the latter has been actively
prepping towards ore extraction, which is targeted to commence in July of 2025.
Ore from the bulk
sample will be transported to Nicola's wholly owned mill for processing.
Receipt of the Draft Permit is the culmination Nicola and High Range working closely together to
complete environmental requirements, mine plan and consultation.
The milestone is attributable to
behind-the-scenes hard work from the two teams, both of whom remain committed to meeting the
highest environmental, safety, and community standards
"The two parties have worked closely together for three years to garner this milestone," said Peter
Espig, President & CEO of Nicola. "High Range President, Alan Raven, has been associated with the
project for over two decades and first submitted the application in 2018.
To finally be able to move
forward with a mine plan is another step forward for Nicola's goal of creating shareholder value and we
are fortunate to have Alan's knowledge, experience, and passion solidify the partnership."
Alan Raven, President of High Range, commented, "Nicola and its team are not only professional, but
also exemplify integrity and passion.
High Range is fortunate to have found such a partner and we look
forward to making the project a success for all."
Qualified Person
William Whitty, P. Geo., VP of Exploration for the Company, is the Qualified Person as defined by
National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
has reviewed and approved
the technical disclosure contained in this news release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that
maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has signed
Mining and Milling Profit Share Agreements with high grade gold projects. Nicola's fully permitted mill
can process both gold and silver mill feed via gravity and flotation processes.
The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an
area of over 10,800 hectares along the southern end of the Guichon Batholith and is adjacent to
Highland Valley Copper, Canada's largest copper mine. The Company also owns 100% of the Treasure
Mountain Property, which include 30 mineral claims and a mineral lease, spanning an area exceeding
2,200 hectares.
On behalf of the Board of Directors
"
Peter Espig
"
Peter Espig
CEO & Director
For additional information
Contact:
Peter Espig
Phone: (778) 385-1213
Email:
Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
1
Bulk Sample:
An exploration and development activity conducted on a mineral claim to investigate the metallurgical properties of an ore body, to test
extractive milling methods, mill equipment, and potential markets.
2
It should be noted that 80 tonnes of concentrate were shipped and processed at the Cominco smelter in Trail in 1992, which is a lower grade than
samples taken. The mill head grade determined for the bulk sample was 14.1 g/t Au and the average gold recovery was 93%.
3
Nicola announced on
December 4, 2024
, that it had paid the $137,000 reclamation bond.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/243457