Nicola Mining Secures Five-Year Extensions on Six Mining Leases for New Craigmont Property
Nicola Mining Inc. has received five-year extensions on six mining leases for its New Craigmont copper property, potentially accelerating its transition from exploration to operations near Canada's largest copper mine.
Nicola Mining Inc. (TSXV: NIM) (FSE: HLIA) (OTCQB: HUSIF) has secured five-year extensions on six mining leases from the Ministry of Mining and Critical Minerals for its wholly owned New Craigmont Property. The extensions, numbered 237642 to 237647, cover the company's 10,800-hectare project located adjacent to Teck Resources Ltd.'s Highland Valley Copper, which is Canada's largest copper mine.
The New Craigmont Property represents the site of Canada's highest-grade historic copper mine, positioning Nicola Mining in a strategically important mineral district. CEO Peter Espig stated that these lease extensions, combined with existing permits, could expedite the company's transition from exploration toward potential mining operations. This development comes as Nicola continues its porphyry-focused exploration activities while maintaining environmental and consultation commitments.
The company maintains additional assets including a 100% owned mill and tailings facility near Merritt, British Columbia, and has signed Mining and Milling Profit Share Agreements with high-grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed through gravity and flotation processes. The latest news and updates relating to HUSIF are available in the company's newsroom at https://ibn.fm/HUSIF.
Beyond the New Craigmont Project, which spans 10,913 hectares along the southern end of the Guichon Batholith, Nicola also owns 100% of the Treasure Mountain Property. This property includes 30 mineral claims and a mineral lease covering an area exceeding 2,200 hectares. The mining lease extensions provide Nicola with secured tenure across its extensive land package, enhancing the company's ability to advance its exploration and development programs in a critical minerals region.