Business
Nicola Mining Provides Operational Update
(via Thenewswire.ca) VANCOUVER, B.C. / TheNewswire / May 31, 2016 - Nicola Mining I...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Provides Operational Update(via Thenewswire.ca)\n \n \nVANCOUVER, B.C. / TheNewswire / May 31, 2016 - Nicola Mining Inc. (the \"Company\") is pleased to provide the following key updates on corporate operations. \n\n\n \nThe Company has completed all upgrades to its fully-permitted, modern, 200 tonne per day mill facility (the \"Mill\"), located 14 kilometers from Merritt, British Columbia. On April 15, 2016, the Company received the required permit amendment to its mine permit M-68 (the \"Amendment\") that enables it to conduct custom milling of third party material. The Amendment allows the Company to accept mill feed from third parties and execute on milling and profit share agreements by processing material at the Mill. The Company purchased an I-3 industrial zoned property for $8,000,000 and subsequently constructed the $21.6 million Mill and a fully-lined tailings facility for $1.8 million on such property. The Mill was constructed with expansion capabilities and is supported by a 500 tonne per day crushing capacity and 1.7 kVA of hydro-power, of which the current Mill only requires 0.6 kVA and its 1,300,000 gallons per day water permit. The Company prides itself on minimal environmental impact and has installed a circulation system allowing it to reuse water from its lined tailings facility. Recent upgrades include installation of a gravity jig separation system that allows the Company to separate free gold from mill feed, as well as a tabling system that allows it to further separate fine gold from gold concentrate after floatation. The Mill is capable of producing free gold concentrate, gold flotation concentrate, and silver concentrate. The Mill is ready to recommence operations, which the Company expects to occur in June, 2016.\n\n\n \nIn connection with recommencing milling operations, the Company announces that it has received 1,879 tonnes of material from Siwash Minerals Inc. (\"Siwash\"). The Milling and Profit Share Agreement between Siwash and the Company was announced in a November 2, 2015 news release. The Company is currently conducting tests on the material to confirm grades. \n\n\n \nThe Company is also pleased to announce that it has entered into a Milling and Profit Share Agreement (the \"GMI Agreement\") with Gavin Mines Inc. (\"Gavin Mines\"). Under the terms of the GMI Agreement, the Comp...