Nicola Mining Finalizes Preparations to Begin Gold and Silver Extraction at Dominion Project
Nicola Mining Inc. is set to commence gold and silver extraction at its Dominion Project in British Columbia, with mill feed extraction expected in early July, signaling potential cash flow growth from high-grade material processed at its fully permitted Merritt Mill.
Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) announced it is in the final stages of preparation to begin gold and silver extraction operations at its Dominion Gold Project in British Columbia. Mill feed extraction is expected to begin during the first week of July, with material from the high-grade project to be processed at the company’s wholly owned Merritt Mill, the only fully permitted milling facility in British Columbia authorized to process gold and silver material from across the province.
The company has completed several key infrastructure and operational initiatives in preparation for production, including installation of a 14-person operational camp, acquisition of mining equipment, and hiring of operational crews and contractors. Additionally, Nicola strengthened its reclamation profile with an additional $251,000 payment toward reclamation bonding requirements. Management said Dominion has demonstrated strong mineralization with vein systems open in all directions and grades of up to 113 grams of gold per tonne, highlighting the project’s potential to become a significant source of high-grade mill feed and support future cash flow growth.
The Dominion Project’s development is a critical step for Nicola Mining, which owns a 100% interest in the Merritt Mill and tailings facility near Merritt, British Columbia. The mill is fully permitted to process both gold and silver mill feed via gravity and flotation processes. The company also holds a 100% interest in the New Craigmont Project, a high-grade copper property covering 10,913 hectares adjacent to Highland Valley Copper, Canada’s largest copper mine, and the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.
This announcement comes as Nicola Mining continues to expand its operational footprint. The company has signed Mining and Milling Profit Share Agreements with high-grade gold projects, leveraging its mill’s unique permitting status. The start of extraction at Dominion could mark a turning point for the junior miner, providing a steady stream of high-grade material to process and potentially improving its financial position.
For more information on the full press release, visit https://ibn.fm/AWGFu. Updates on NICM are available in the company’s newsroom at https://ibn.fm/NICM.