Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) and Ocean Partners UK Limited have each committed $5 million, totaling $10 million, to Blue Lagoon Resources (CSE: BLLG). This financing aims to advance development and increase production at Blue Lagoon’s wholly-owned Dome Mountain Gold and Silver Project near Smithers, British Columbia, targeting a production rate of 150 to 200 tonnes per day.
Nicola’s investment was made through a private placement at $0.60 per share, acquiring 8,333,333 common shares. This follows Nicola’s previous $1 million investment in Blue Lagoon in January 2024. Ocean Partners has now invested a total of $8 million in Blue Lagoon, underscoring growing confidence in the project’s potential.
The financing is expected to strengthen the relationship among mine development, concentrate marketing, and milling infrastructure. Nicola’s wholly-owned Merritt Mill, located near Merritt, British Columbia, is anticipated to play an increasingly important role as Blue Lagoon progresses toward production. The mill is fully permitted and can process both gold and silver feed via gravity and flotation processes.
Nicola Mining is a junior mining company with a portfolio that includes the New Craigmont Project, a high-grade copper property covering 10,913 hectares adjacent to Canada’s largest copper mine, Highland Valley Copper. The company also owns the Treasure Mountain Property, consisting of 30 mineral claims and a mineral lease spanning over 2,200 hectares.
This investment highlights the strategic importance of partnerships in the mining sector, particularly in facilitating project development through shared resources and expertise. By aligning interests with Ocean Partners, Nicola is positioning itself to benefit from Blue Lagoon’s production ramp-up while leveraging its milling infrastructure. The collaboration is set to enhance the economic viability of the Dome Mountain project and could serve as a model for future joint ventures in the industry.
For more information on Nicola Mining, visit the company’s newsroom at https://ibn.fm/NICM. The full press release is available at https://ibn.fm/Wh0vf.
