Nicola Mining (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) announced two significant developments this week: the extension of its Rock and Gravel Extraction and Preferential Engagement Agreement with Lower Nicola Site Services Ltd. (“LNSS”) through March 3, 2033, and the completion of its first diamond drilling program at the MB Zone of its Treasure Mountain Silver Project. The moves signal continued operational progress and exploration momentum for the junior mining company.
The agreement extension grants LNSS exclusive rights to extract gravel and rock from the Craigmont Mine Site near Merritt, British Columbia, with Nicola receiving per-tonne royalties. It also maintains preferential engagement provisions for competitive services provided by LNSS, supporting continued collaboration and Indigenous economic participation. This long-term extension provides Nicola with a stable revenue stream and reinforces its relationship with local Indigenous partners.
Separately, Nicola completed a four-hole diamond drilling program totaling approximately 800 meters at the MB Zone of its Treasure Mountain Silver Project. The program targeted a previously undrilled quartz-sulphide vein system. Geological logging and core sampling are underway, with laboratory assays pending. Preliminary visual observations identified intervals of sulphide mineralization, including pyrite, pyrrhotite and sphalerite, though analytical results are required to assess the findings. The company also anticipates assay results from its 2026 New Craigmont copper exploration program.
These developments matter because they demonstrate Nicola’s dual focus on near-term cash flow from its fully permitted mill and tailings facility and on long-term exploration potential at its copper and silver properties. The Craigmont extension secures a decade of royalty income, while the Treasure Mountain drilling could yield a new discovery. For investors, the pending assay results represent key catalysts that could significantly impact the company’s valuation.
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility near Merritt, British Columbia. It 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 via gravity and flotation processes. The Company owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith, adjacent to Highland Valley Copper, Canada’s largest copper mine. The Company also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.
For more information, the full press release is available at https://nnw.fm/Zq96r. The latest news and updates relating to NICM are available in the company’s newsroom at Nicola Mining Inc.
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