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Nicola Mining Announces Completion and Positive Results from Reverse Circulation Drilling on Portal-3060
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2019) - Nicola Mining Inc. (TSXV: NIM)...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Announces Completion and Positive Results from Reverse Circulation Drilling on Portal-3060Vancouver, British Columbia--(Newsfile Corp. - March 1, 2019) - Nicola Mining Inc. (TSXV: NIM) (the \"Company\") is pleased to announce final results on its 39-hole Reverse Circulation drill program on the 3060-Portal (\"3060 RC Program\" (Table 1). This program is designed to evaluate the copper equivalent grade and volume of historical material excavated from underground workings of the Craigmont Mine and piled at 3060-Portal (Figure 1). These results confirm significant grades of copper and magnetite, which are combined to create a copper equivalent (\"CuEq\")1. The historical mine terraces, which equate to approximately 80-90 million-tonnes, surrounding the Craigmont Mine Open pit (Figure 2) and 3060-Portal benefit from having previously incurred all costs associated with mining, which is greater than 50% of the cost of production2. The Company previously announced positive 3060-Portal RC drill results, however these results did not incorporate the CuEq contribution from magnetite3. The second phase of RC drilling, conducted in 2018, use an updated CuEq calculation4 for both 2017 and 2018 RC drill holes. The highlights of these results include:An average grade of 2424 ppm Cu and 0.4% CuEq for the 39 drill holesAn average grade of 9095 ppm Cu (1.03% Cu) and 1.08% CuEq for Hole CC-RC-18-63An average grade of 10,332 ppm Cu (1.03% Cu) and 1.27% CuEq for Hole P-34An average grade of 8632 ppm Cu (0.86% Cu) and 1.03% CuEq for Hole P-72Assay results from the drill program are summarized in Table 1. All results are calculated from surface. Table 1: Composite of Reverse Circulation (\"RC\") Drill Results at Portal 3060To view an enhanced version of Table 1, please visit:https://orders.newsfilecorp.com/files/4873/43140_e51408d4c4c55912_002full.jpg Figure 1: Map of Reverse Circulation (\"RC\") drill locations proximal to the 3060 Portal.To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4873/43140_e51408d4c4c55912_003full.jpg Figure 2: Map of completed RC Drill Program (Phase 1 and Phase 2) on historic terraces.To view an enhanced version of Figure 2, please visit:https://orders.newsfilecorp.com/files/4873/43140_e51408d4c4c55912_004full.jpgResults on the Phase 1 and Phase 2 targets of the histo...