FAQ: Nicola Mining Inc.'s Five-Year Mining Lease Extensions for New Craigmont Property
Summary
What is the main announcement from Nicola Mining Inc.?
Nicola Mining Inc. has received five-year extensions on six mining leases (237642 to 237647) for its wholly owned New Craigmont Property from the Ministry of Mining and Critical Minerals, securing tenure across the 10,800-hectare project.
Why are these mining lease extensions significant?
These extensions are significant because they secure long-term tenure for Nicola’s New Craigmont Property, which is the site of Canada’s highest-grade historic copper mine and adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine.
How do these lease extensions benefit Nicola Mining’s operations?
According to CEO Peter Espig, the extensions along with existing permits can expedite a transition from exploration toward potential operations as the company continues porphyry-focused exploration while maintaining environmental and consultation commitments.
Where is the New Craigmont Property located?
The New Craigmont Property is located along the southern end of the Guichon Batholith in British Columbia, adjacent to Highland Valley Copper, Canada’s largest copper mine, and covers an area of 10,913 hectares.
What other properties does Nicola Mining own?
Nicola Mining also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares, and maintains a 100% owned mill and tailings facility near Merritt, British Columbia.
What is Nicola Mining’s capability for processing minerals?
Nicola’s fully permitted mill can process both gold and silver mill feed via gravity and flotation processes, and the company has signed Mining and Milling Profit Share Agreements with high-grade gold projects.
Where can investors find more information about Nicola Mining?
The latest news and updates relating to Nicola Mining (OTCQB: HUSIF) are available in the company’s newsroom at https://ibn.fm/HUSIF, and the full press release can be viewed at https://ibn.fm/gbNgw.
What stock exchanges is Nicola Mining listed on?
Nicola Mining Inc. is listed on the TSX Venture Exchange (TSXV: NIM), Frankfurt Exchange (FSE: HLIA), and OTCQB (OTCQB: HUSIF) as a junior mining company.
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