Nicola Mining Announces Partnership with the University of British Columbia to Explore for Porphyry Targets at New Craigmont Copper Project
Nicola Mining Announces Partnership with the
University of British Columbia to Explore for
Porphyry Targets at New Craigmont Copper
Project
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2022) - Nicola Mining Inc. (
TSXV: NIM
)
(
FSE:
HLI
), (the "
Company
" or "
Nicola
") is pleased to announce that it has entered into a funding agreement
with the University of British Columbia's ("
UBC
") and UBC Mineral Deposit Research Unit ("
MDRU
") to
research the potential and existence of copper porphyry systems.
MDRU is a partnership between UBC
Mineral Deposit Research Unit, Lakehead University and Universities of Alberta and Calgary, and 15
partner organizations, which includes Nicola Mining Inc., focused on improving the rate at which porphyry
copper deposits can be discovered.
On May 12, 2022, MDRU
announced the award of $2,700,000 from
the Natural Sciences and Engineering Research Council of Canada
(NSERC) Alliance program
(matching $1,350,000 in industry cash contributions).
The timing for Nicola bodes well as information from its recently completed 998-line kilometer Z-Tipper
Axis Electromagnetic survey ("
ZTEM Survey
") across the entirety of New Craigmont is to be received
soon and can be incorporated with the project.
The porphyry fertility and vectoring project, which has
received funding from private sector and government sources, plans to characterize alteration mineral
associations and inclusions, and LA-ICP-MS analyses on chlorite, epidote, pyrite, and carbonate
minerals, to provide an interpretation of potential vectors towards deposits.
Leveraging new
technologies could augment the ability to find porphyry systems in British Columbia.
Peter Espig, Chief Executive Officer, commented, "We are very excited to team with MDRU on this
project and feel that it is well suited for the New Craigmont project, which is Canada's highest grade
historic large copper mine. Leveraging newer technologies, such as ZTEM Survey, and working closely
with UBC's geological team could be very fruitful towards finding porphyry copper targets."
Qualified Person
Kevin Wells, P.Geo, a consulting geologist to the Company, is the independent qualified person as
defined by National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
for the technical
disclosure contained in this news release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX Venture and Frankfurt Exchanges 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 10,913 hectares along the southern end of the Guichon Batholith and is adjacent to Teck
Resources Ltd.'s Highland Valley Copper, Canada's largest copper mine. The Company also owns
100% of the Treasure Mountain Property, consisting of 30 mineral tenures covering 513 hectares (ha)
and a mining lease covering 335 ha.
On behalf of the Board of Directors
"
Peter Espig
"
Peter Espig
CEO & Director
For additional information
Contact:
Peter Espig
Phone: (778) 385-1213
Email:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/129320