Vancouver, British Columbia - June 2, 2020 (Newsfile Corp.) (Investorideas.com Newswire) Nicola Mining Inc. (TSXV: NIM) (the "Company") is pleased to announce that it has filed an independent technical report (the "Technical Report") on SEDAR. The Technical Report was prepared in accordance with National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101") supporting the Inferred Copper Resource for the Southern Dump and 3060 Portal Dumps ("Portal Area") at its wholly-owned New Craigmont Copper Mine, located near Merritt, British Columbia.
The full Technical Report with an effective date of May 21, 2020 is entitled "NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dumps". It was prepared by Kevin Wells, P. Geo. of KWW Geoscience & Exploration Corporation and James N. Gray, P. Geo. of Advantage Geoservices Limited, both of whom are independent of the Company and are qualified persons.
The Technical Report can be found under the Company's issuer profile at www.sedar.com and the Company's website www.nicolamining.com.
The Inferred Copper Resource as at May 21, 2020 is presented in Table 1.
Notes and key assumptions:
Preliminary metallurgical testing and mineral processing of the dump material is reported to have produced very encouraging results2. Mineral processing of the dump material by the Tomra COM Series XRT sorter demonstrated the ability to:
Metallurgical testing of the Tomra sorted copper product demonstrated the ability to produce a final copper and magnetite concentrate5. The two concentrates were produced from a blend of material collected from the dumps that contained an initial grade of 0.34% Cu and 6.87% Fe:
The Technical Report recommends the Company to conduct additional work to further increase the confidence of this initial inferred copper resource. This work includes:
A total budget of C$199,500 is proposed to advance the confidence of this resource.
Kevin Wells, P.Geo, a consulting geologist to the Company is the independent qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release.
Kevin Wells (P. Geo) reviewed the sample preparation, analyses, and security6 as well as data verification7. The QA/QC manual and operating procedures developed by the Company were deemed to be adequate and in line with accepted industry practices and procedures. These procedures were examined prior to, and subsequent to, the commencement of the RC drilling. No quality control issues were discovered by the QP (Kevin Wells, P.Geo) for Nicola's RC Drilling programs (Phase I and II) upon which this inferred copper resource is based.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange and is in the process of recommencing mill feed processing operations at its 100% owned state-of-the-art mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill profit share agreements with high grade gold producers. The fully permitted mill can process both gold and silver mill feed via gravity and floatation processes. The Company also owns 100% of Treasure Mountain, a high-grade silver property, and an active gravel pit that is located adjacent to its milling operations.
About New Craigmont
The New Craigmont Project (the "Property") is a wholly owned copper property with an active mine permit (M-68), located within the world-class Highland Valley porphyry district. It benefits from excellent infrastructure. In November of 2015, Nicola became the first group in decades to consolidate ownership of the Property and has been actively conducting mineral exploration since.
CEO & Director
For additional information contact:
Telephone: (778) 385-1213
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 Wells, K & Gray, J.N., 2020. Prepared for Nicola Mining., NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dump. New Craigmont Mine, Merritt, British Columbia, Canada. Technical Report dated May 21, 2020. Section 14, p. 67-74
2 Wells, K & Gray, J.N., 2020. Prepared for Nicola Mining., NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dump. New Craigmont Mine, Merritt, British Columbia, Canada. Technical Report dated May 21, 2020. Section 13, p. 66
3 Nicola Mining. News Release (March 19, 2019). Nicola Mining announces positive results on copper X-Ray sorting as a first step to copper ore upgrading (https://nicolamining.com/nicola-mining-announces-positive-results-on-copper-x-ray-sorting-as-a-first-step-to-copper-ore-upgrading/)
4 Nicola Mining. News Release (November 27, 2019). Nicola Mining announces up to ten-fold copper upgrading and solid copper recovery from its ore sorting testing (https://nicolamining.com/nicola-mining-announces-up-to-ten-fold-copper-upgrading-and-solid-copper-recovery-from-its-ore-sorting-testing/)
5 Nicola Mining. News Release (February 11, 2020). Nicola Mining announces positive copper and magnetite recovery results on historic mine terraces material (https://nicolamining.com/nicola-mining-announces-positive-copper-and-magnetite-recovery-results-on-historic-mine-terraces-material/)
6 Wells, K & Gray, J.N., 2020. Prepared for Nicola Mining., NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dump. New Craigmont Mine, Merritt, British Columbia, Canada. Technical Report dated May 21, 2020. Section 11, p. 60
7 Wells, K & Gray, J.N., 2020. Prepared for Nicola Mining., NI 43-101 Technical Report on the Preliminary Copper Resource for the Southern Dump and 3060 Portal Dump. New Craigmont Mine, Merritt, British Columbia, Canada. Technical Report dated May 21, 2020. Section 12, p. 61-65
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