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Nicola Mining Announces Filing of NI 43-101 Technical Report on Historic Mine Dumps
Vancouver, British Columbia--(Newsfile Corp. - June 2, 2020) - Nicola Mining Inc. (TSXV: NIM) ...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Announces Filing of NI 43-101 Technical Report on Historic Mine DumpsVancouver, British Columbia--(Newsfile Corp. - June 2, 2020) - 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.Table 1: Inferred Surface Material Copper Resource at a cutoff of 0.06% Cu1To view an enhanced version of Table 1, please visit:https://orders.newsfilecorp.com/files/4873/57014_8a1ddfdcd4e8fa6b_002full.jpgNotes and key assumptions:CIM definition standards were followed for the resource estimate.The inferred mineral resources that are not mineral reserves as the company has not yet demonstrated the economic viability.The southern dump material was assigned a density of 1.8 tonnes/meter3 and the portal area material was assigned a density of 2.15 tonnes/meter3. The variance in densities between these dumps is due to the variance in dump material type and size differences and include a ~30-25% \"void space\" factor.Inverse distance weighting was chosen as the most appropriate grade estimation approach due in part to the fact that the material being evaluated is not a naturally occurring mineral deposit.The southern dump material was estimated using 15x15x8 meter blocks with composites averaging 4 meter from 60 reverse circular (\"RC\") drill holes and the Portal Area was estimated using 5x5x4 meter blocks a...