Nicola begins processing Talisker’s B.C. gold mill feed
Nicola Mining Inc. [NIM-TSXV] said it has commenced processing gold mill feed from Talisker Resources Ltd.’s [TSX-TSK, TSKFF-OTCQB] Bralorne Gold Project in British Columbia.
Nicola shares advanced on the news, rising 1.3% or $0.005 to 39 cents. The shares trade in a 52-week range of 44 cents and 17 cents. Talisker was unchanged at 49 cents.
Under an agreement announced in April, 2024, Nicola will process up to 6,300 tonnes of stockpiled material mined from the Bralorne project. That material will be processed at Nicola’s Craigmont mill, which is located in Merritt, B.C.
Talisker’s flagship asset is the high-grade, fully permitted Bralorne Gold Project where the company is currently transitioning into underground production at the Mustang Mine.
Talisker recently signed an ore hauling agreement, which Talisker President and CEO Terry Harbort described as a critical part of the company’s operations.
In November 2015, Nicola became the first group in decades to consolidate ownership of the New Craigmont Project, a high-grade copper property, which covers 10,800-hectares and is located in the Highland Valley porphyry district. The project is adjacent to Highland Valley Copper, Canada’s largest copper mine. New Craigmont contains the former Craigmont Mine, which produced 34 million tonnes, grading 1.3% copper between 1961 and 1982 from underground and open pit operations. It ranked as one of North America’s highest grade copper mines.
Nicola’s other key asset is the 200-tonne-per day Merritt Mill and tailings facility. It is currently the only facility in B.C. that is permitted to accept third party gold and silver feed from throughout the province. The Merritt Mill is a unique $30 million plus milling and processing facility constructed on free-hole industrial-zoned land owned 100% by the company.
In a press release Thursday, Nicola said it has completed further upgrades to the mill that include installing a water recirculation system between the mill and lined tailings facility that significantly decreases water consumption. The company has also installed automated processes in inside the mill, which streamlines processes, decreases production costs, and facilitates employee safety.
Meanwhile, the company said it has launched its 2024 drilling program at the New Craigmont Copper project following the completion of a 3D induced polarization survey, which was designed to better define two principal exploration areas: the MARB-CAS Zone and West Craigmont Zone.
The company said a total of 5,000 metres is planned for the 2024 exploration program. Drilling will primarily be focused on the West Craigmont Zone initially, with the possibility of also drilling at MARB/CAS later in the summer.
With the first holes being drilled at the WP Zone. The 2024 program is targeting both copper porphyry and skarn mineralization, Nicola said Thursday.