Nicola Mining Inc. and Osisko Development Corp. Enter into a Mining and Milliing Profit Share Agreement
Nicola Mining Inc. and Osisko Development
Corp. Enter into a Mining and Milliing Profit
Share Agreement
Vancouver, British Columbia--(Newsfile Corp. - January 9, 2023) - Nicola Mining Inc. (
TSXV: NIM
)
(
FSE: HLI
), (
the "
Company
" or "
Nicola
") is pleased to announce that it and Osisko Development Corp.
(
NYSE: ODV) (
TSXV: ODV) ("Osisko")
have signed a Mining and Milling Profit Share Agreement (the
"
Agreement
").
Under the Agreement, Osisko may transport material to Nicola's mill site, located near
Merritt, British Columbia.
Nicola's Merritt Mill site is a unique milling and processing facility because the
Company owns the industrial-zoned site free-hold.
The approximate $30.0 million facility is also the location of the historic Craigmont Copper Mine, which
had an historic production grade of 1.3% Cu.
The Company is in the process of planning its 2023
Exploration Program, which will be announced at a later date.
The Company had announced on
December 2, 2022
, that the two parties had entered into Memorandum
of Understanding for the processing of gold mill feed currently stock piled at Osisko's site, located in the
Cariboo Mining District in east-central BC, east and southeast of the City of Quesnel.
Nicola's Merritt Mill is the only facility in the Province of British Columbia permitted to accept
third party gold and silver mill feed from throughout the province.
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 10,084 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 29 mineral tenures covering 2178 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/150564