• Source: Nicola Mining

Nicola Mining (TSX.V: NIM) (FSE: HLIA) (OTCQB: HUSIF) is a Canadian junior mining company headquartered in Vancouver, British Columbia. Established as Huldra Silver Inc. on March 31, 1980, the company was reorganized as Nicola Mining Inc. on May 29, 2015.




Business model and operations


Nicola Mining maintains multiple synergistic assets within British Columbia. These include two permitted mine properties: the historic Craigmont Copper Mine (Permit M-68) and the Treasure Mountain Silver Mine (Permit M-239). Additionally, the company owns the Merritt Mill, the only site in the province permitted to process gold and silver ore from sources throughout British Columbia.
The company's operations include a gravel pit, a rock quarry, and a ready-mix concrete plant. Nicola Mining holds a 75% economic stake in the Dominion Creek Property and has partnered with Lower Nicola Site Services to operate its gravel pit and rock quarry.




Projects






= New Craigmont Copper Project

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Nicola Mining's flagship project, the New Craigmont Copper Project, is in the Quesnel Trough, a historically significant copper belt in British Columbia. The property spans over 10,900 hectares and includes the Craigmont Mine, one of Canada's highest-grade former copper producers. Recent exploration activities have included drilling, geophysical surveys, mapping, sampling, and resource estimation of historic waste piles.
New Craigmont Copper Project is surrounded by five copper mines, including the three largest in Canada. The 10.900+ land package includes one of Canada's highest grade former producing copper mines, the Craigmont Mine, and despite this dense concentration of current and historical production, as of 2024, none match the historic grades found at the former producing Craigmont Mine.
Nicola Mining received a multi-year area-based exploration permit in November 2022, allowing for extensive drilling and exploration over the next four years. Its CEO, Peter Espig, emphasized the significance of exploring previously undrilled areas of the property, noting the potential for discovering new copper deposits. The drilling commenced on July 3, 2024, about 6 Km west of the Craigmont Mine.
The Nicola Group volcanic and sedimentary rocks appear to be laterally the most extensive group within the southern portion of the Quesnel Trough. These are intruded by batholiths or large regionally extensive intrusions. The batholith in the southern Quesnel Trough hosts world-class porphyry deposits, like Teck Resources’ Highland Valley Copper Mine and New Gold Inc.’s New Afton Mine. Volcanic rocks belonging to the Spences Bridge Group, known to contain epithermal-style gold mineralization, predominate the west of the New Craigmont property. Large north-south trending faults with considerable displacement are intersected by regional-scale geophysical anomalies, potentially ideal structural environments for the emplacement of porphyries.




= Treasure Mountain Silver Project

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The Treasure Mountain mine property, under the full ownership of Nicola Mining Inc., is located within the Similkameen Mining Division in British Columbia, positioned 29 kilometers northeast of Hope, BC. The property consists of 31 mineral tenures, which include 30 mineral claims and a single mineral lease, spanning an area exceeding 2,200 hectares.
The Treasure Mountain property hosts polymetallic veins, including those of the historic Treasure Mountain silver-lead-zinc mine. It is situated in the northward continuation of the Cascade Mountains of Washington State, which contain sedimentary and volcanic rocks of Late Paleozoic to Cretaceous age plus younger intrusions and sediments. Predecessor Company "Hudra Silver Inc.” prior to the 2015 name change to Nicola Mining Inc., put Treasure Mountain on care and maintenance on June 25, 2013.




= Merritt Mill and Tailings Facility

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This facility is critical to Nicola Mining's operations, serving as a gold and silver ore processing site. The Merritt Mill and its tailings site span roughly 980 acres of fee simple land and can process 200 tones of ore per day through crushing, grinding, and flotation. It is authorized for custom milling and is situated 10 kilometers northwest of Merritt, BC. It is the only facility in British Columbia permitted to process third-party gold and silver mill feed from across the province.




= Dominion Creek Property

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Nicola Mining holds a 75% economic interest in the Dominion Creek Property, a gold exploration project. The company is focused on advancing exploration activities on the property, leveraging its cash flow from other operations.




Partnerships and collaboration


Nicola Mining has established a mutually beneficial partnership with Lower Nicola Site Services, a joint venture between the Lower Nicola Indian Band Corporation and Infracon Construction of Kamloops. This partnership enables the operation of the company's gravel pit and rock quarry.
The company also has a relationship with Ocean Partners UK Limited, a global trader of precious metals, which supports Nicola Mining's sales of gold and silver concentrate.
As of 2024, Nicola Mining is exploring copper in the Quesnel Trough with ongoing drilling campaigns and exploration programs. The company's MYAB permit allows for significant expansion of exploration activities, targeting areas that have not previously been drilled. The company's collaboration with the University of British Columbia's Mineral Deposit Research Unit (MDRU) further supports its exploration efforts.




References

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