Nicola Mining Inc.
Nicola Mining Inc. is a public resource mining company with both cash flow and significant exploration upside. The Company is in the process of recommencing mill feed processing operations at its 100% owned modern mill and tailings facility, located near Merritt, British Columbia, Canada. The fully-permitted mill is able to process both gold and silver mill feed via gravity and floatation processes. The Company has 100% of the Thule Copper property covering 10,084 hectares along the southern end of the prolific copper-rich Guichon Batholith. In addition, the Company also owns 100% of Treasure Mountain, its high-grade silver property, and a gravel pit, which is located adjacent to its milling operations.
The Merritt Mill and the Thule Property have the potential of becoming British Columbia's leading milling hub and emerging copper play.
The Company's portfolio consists of high-potential assets:
Merritt Mill and Tailings Facility
The Company has continued to upgrade its approximate $22.0 million mill processing facility, which was completed in 2013, with the intention of increasing throughput capacity. The modern facility is constructed with the intention of minimal environmental impact.
Thule Copper Project
The Company continues to increase the emphasis on its wholly-owned Thule Copper property. It has submitted a notice of work for its 2017 drill program that will focus primarily on the Embayment and Titan Queen Zones. In its 2016 Exploration Program the Company intersected 1.11% copper over 85.92 metres in the Embayment Zone. Nicola also continues to prepare for exploration on its waste dumps and has entered into an Exploration and Material Purchase Agreement with Teck Highland Valley Copper Partnership, a wholly owned subsidiary of Teck Resources Limited, as announced in the Oct. 3, 2016 news release.
Treasure Mountain Project
Nicola continues to monitor the option of opening and commencing mining activity on its wholly-owned Treasure Mountain Mine. Mining activity would commence by extracting 14,000 tonnes of material from Level 1 Stope 2. Per the technical report entitled "Technical Report, Project Update Treasure Mountain Property, Tulameen River Area, BC, Canada" dated June 7, 2012, Level 1 Stope 2 contains a resource of 430,000 oz. Ag, 1,590,000 lbs. Pb, and 940,000 lbs. Zn. The Mill has the permit capacity to process the material from both Treasure Mountain and Gavin Mines and is considering further mill modifications to allow it to process two material sources concurrently.
Management and Directors
Peter Espig, MBA, B.A., President, Chief Executive Officer and Director
Mr. Espig is a global turnaround specialist that has spearheaded projects on a global scale. Over the past ten years, Mr. Espig has structured and raised funds for over US$2.5 billion in private equity and pre-IPO investment transactions from the principal side. Mr. Espig served as Vice-President of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan, and was Vice-President of Olympus Capital.
Warwick Bay, CA, Chief Financial Officer & Corporate Secretary
Mr. Bay practiced for over 10 years with one of the big four public accounting firms and is specialized in the audit of public mining companies. Prior to joining Nicola Mining Inc., he spent 17 years in the financial services industry where he focused on raising capital for junior mining companies and exploration projects.
Frank Hogel, Chairman & Director
Mr. Hogel is an Asset Manager actively involved in the financial evaluation of companies and convertible debenture restructuring, and sits on the advisory board of Concept Capital Management. He has more than 13 years of direct experience in the mining industry, expertise as an international financier/investor and successful track record stock consultant and stock broker in London, England.
Doug Robinson, Q.C., Director
Mr. Robinson has served as a Director of the Law Institute of B.C., founding director of the B.C. Mediation Society, and founding Chair of the Canadian Forum for Civil Justice. Mr. Robinson is recognized by LEXPERT as one of the leaders in construction and product liability litigation.
Dr. Paul Johnston, P.Geo., Director
Dr. Johnston is a geologist with more than 25 years experience in the mining industry. Since 1996 Dr. Johnston has worked in a variety of international positions at Teck Resources, including Regional Chief Geoscientist for South America. He has accumulated extensive international experience in early to advanced stage exploration for gold, copper, and zinc.
On January 12, 2018, Nicola Mining Inc. announced that it has received the required permitting to commence reverse circulation drilling on the approximate 80 million to 90 million tonnes of waste piles surrounding the historic Craigmont mine. The Company also announced that the 2017 Embayment zone exploration program has expanded the embayment skarn zone to 400 metres in strike length (east to west).
On December 27, 2017, Nicola Mining Inc. announced that it has completed its non-brokered private placement as further described in its news releases of Dec. 8, 2017, and Dec. 15, 2017. In connection with the closing of the financing, the Company sold an aggregate of 10,262,500 shares at a price of 20 cents per share for gross proceeds of $2,052,500.
On December 21, 2017, Nicola Mining Inc. has provided an update on its 2017 exploration program focused on copper exploration at its wholly owned New Craigmont property. The first four holes all successfully intersected skarn alteration. As a result, the strike length of the Embayment zone has increased by 150 metres, bringing the total strike length of the zone to over 250 metres and it remains open to the west and at depth.