Business
Nicola Mining Receives Rock Quarry Permit and Has Commenced Supplying the Ministry of Transport for Highway Infrastructure Repair
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2022) - Nicola Mining Inc. ( TSXV: NIM )...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Receives Rock Quarry Permit and Has Commenced Supplying the Ministry of Transport for Highway Infrastructure RepairVancouver, British Columbia--(Newsfile Corp. - May 2, 2022) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLI), (the \"Company\" or \"Nicola\") is pleased to announce that on March 29, 2022, it successfully received a Notice of Departure (\"NoD\") at the New Craigmont Project from the Ministry of Energy, Mines and Low Carbon Innovation (\"EMLI\"). The NoD on the Company's M-68 Permit allows for the extraction of up to 3.0 million tonnes (\"Mt\") of inert available rock material that may be used for the infrastructure reconstruction efforts at a production rate of approximately 1500 tonnes per day. Under the Mineral Tenure Act, receipt of the NoD permits mining and extraction of material; however, to export the material from the mine site for commercial purposes, the Company was required to engage with First Nations and receive separate approval from the Ministry of Forests[1] (\"FLNR\").On April 13, 2022, the Company received License Number 349184 from FLNR, which allows the site to produce and remove riprap and associated products from its rock quarry for five years. The Company is also pleased to announce that its rock quarry partner, Lower Nicola Site Services Ltd.[2] (\"LNSS\"), has subsequently entered into an agreement to supply the Ministry of Transport and Infrastructure (\"MOTI\") with riprap from the Company's site. Nicola receives a royalty for rock material transported from its site.The material supplied from the Company's quarry is expected to aid MOTI in its repairing of the Trans-Canada Highway, Highway 99, Highway 7, Highway 3, Highway 5, and Highway 8, which were damaged by the flooding events that occurred in November of 2021. Nicola is to receive a per tonne royalty for extracted material.Peter Espig, Chief Executive Officer, commented, \"The opportunity to work with LNSS on our rock quarry represents much more than a new revenue stream; it highlights our community relations initiatives and allows communities to benefit from our efforts. Currently, we are in the process of applying for a gravel quarry permit, which will further augment our revenues and benefit communities.\"Qualified PersonJames N. Gray, P.Geo, a consulting geologist to the Company, is the independent qualified person as de...