Business
Nicola Mining Inc. Moves Towards Commencing Milling Operations in April of 2016
(via Thenewswire.ca) VANCOUVER, B.C. / TheNewswire / March 1, 2016 - Nicola Mining ...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Inc. Moves Towards Commencing Milling Operations in April of 2016(via Thenewswire.ca)\n \n \nVANCOUVER, B.C. / TheNewswire / March 1, 2016 - Nicola Mining Inc. (the \"Company\" or \"Nicola\") is pleased to announce that it plans to recommence milling operations at its Merritt Mill property in April, 2016. Nicola's mill property is located on the historic Craigmont Mines site, located in south central British Columbia (10 kilometers west of Merritt, BC).\n\n\n \nNicola's 200 tonne per day mill will undergo modifications that will allow it to gravity separate fine free gold, prior to floating the remaining material in floatation tanks. Nicola's mill is situated on 900 acres of freehold land, was constructed to allow floatation expansion, and is fed by a primary crushing circuit that has a 500 tonne per day capacity. The large mill building allows scalability for additional flotation tanks and gold screening units. Since May, 2010, the investment in the mill property consisted of $8.0 MM for the cost of land, $21.6 MM for the cost of the mill and related infrastructure, and $1.8 MM for the cost of the construction of a fully lined tailings facility.\n\n\n \nThe Company is also exploring options to purchase equipment that will enable it to pour dore bars onsite. Initial production is expected to commence with the processing of material from Siwash Materials Inc.'s property located in the Siwash Creek Area, located approximately 8 km northeast of Yale, B.C. and approximately 90 minutes from Nicola's mill property located near Merritt, BC. The Company announced the Siwash Mining and Milling Profit Share Agreement in a November 2, 2015 news release. \n\n\n \nUnder the Siwash Agreement, the miner is required to use its best efforts to transport mill feed with greater than 7.08738 g/t Au to the Company's processing facility. Shipping of previously stockpiled material is expected to commence in early April. \n\n\n \nThe date of commencing production will be subject to the receipt of the required amendment to Nicola's mining permit.\n\n\n \nPeter Espig, Chief Executive Officer, commented, \"The modifications to the mill enabling it to accept and process gold mill feed and the ability to utilize both gravity and floatation processes that will allow it to produce dore bars and gold concentrate are significant value-added servic...