Nicola Mining Inc. Outcrop Chip Sampling at the Dominion Property Returns Grades of 34.9 Grams Au and 176 Grams Ag per Tonne
Nicola Mining Inc. Outcrop Chip Sampling at
the Dominion Property Returns Grades of 34.9
Grams Au and 176 Grams Ag per Tonne
Vancouver, British Columbia--(Newsfile Corp. - October 26, 2020) -
Nicola Mining Inc. (
TSXV: NIM
)
(
FSE: HLI
) (the "
Company
" or "
Nicola
") is pleased to announce results from chip samples taken
during a due diligence site
1
visit to the Dominion Property. Four chip samples across mineralization
exposed in a historical trench comprising vein material and adjacent rock, and one grab sample
representative of vein material from both exposed veins were taken (Figure 1 and Map 1). The samples
were sent to ALS Metallurgy Laboratory
2
("
ALS Labs
") located in Kamloops, BC and returned the
following grades (Table 1):
Table 1:
Chip Sample and Vein Representative Grab Sample Results.
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/4873/66820_nicolatable1enhanced.jpg
Samples A00204491 and A0024489 were taken directly from the footwall and hanging wall portion of
the Number 16 Vein outcrop; Samples A00204490 and A00204488 were taken from material adjacent
to the hanging wall vein. The sample marked Surface Chip (no tag) was a composite sample
representative of the footwall and hanging wall vein material (Figure 1).
In addition to mineralization grades, material is currently undergoing metallurgical test work at ALS Labs.
Testing includes creating a sulfide-based gold / silver concentrate via flotation processes similar to the
Company's fully permitted flotation mill located near Merritt, BC to calculate gold recovery. The Company
will issue a separate news release on concentrate grades and characteristics when analysis is
complete.
The Company announced in its September 23, 2020 news release that it had signed a Letter of Intent
with High Range Exploration Ltd. ("
High Range
") that provides Nicola a 75% economic interest in the
Dominion Creek Property. Upon satisfactory due diligence and execution of a Definitive Agreement,
High Range and Nicola plan to bring the project towards a 10,000-tonne bulk sample permit.
Figure 1.
Portion of the 16 Vein exposed in a historical trench with chip sample locations indicated by
the white lines. Sample numbers correspond with Table 1. Gold grades and sample lengths are shown.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4873/66820_fb326b41a426e92b_002full.jpg
Map 1:
Location of 16 vein sampled during due diligence visit.
To view an enhanced version of Map 1, please visit:
https://orders.newsfilecorp.com/files/4873/66820_fb326b41a426e92b_003full.jpg
Sample Preparation, Analysis and Quality Assurance/Quality Control
Nicola Mining applies a thorough quality assurance/quality control program at the Project, which is
compliant with industry best practices. Samples were collected and delivered to ALS Metallurgy in
Kamloops by Nicola Mining, where they were crushed, sub-sampled and pulverized in preparation for
analysis. ALS Metallurgy is an ISO 9001:2015 certified laboratory and ran certified reference materials
during the analyses, as per industry accepted QA/QC practices. Four high grade gold samples were
assayed in duplicate to confirm results.
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. The fully
permitted mill can process both gold and silver mill feed via gravity and flotation processes. The
Company also owns 100% of the New Craigmont Project, a high-grade copper property, and an active
gravel pit that is located adjacent to its milling operations.
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.
1
The site visit occurred on August 28, 2020 and was part of the Company's due diligence process.
2
ALS is the global leader in metallurgical testing and offers mineral processing testing by both bench
scale and pilot scale facilities, hydrometallurgical and mineralogical test services, and project
management by expert metallurgists.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/66820