Nicola Mining (TSXV: NIM) has begun receiving gold and silver ore from Talisker Resources (TSX: TSK) as prepares its mill in British Columbia to hit full capacity after June.
Nicola’s $33-million milling and processing facility, located near Merritt, 27o km by road northeast of Vancouver, underwent several upgrades last year. Now the company has applied for a permit amendment to increase mill throughput.
The Merritt Mill is B.C’s only facility permitted to accept third-party gold and silver mill feed from across the province. The company signed a milling agreement with Talisker last July. The two companies have started working with Ocean Partners UK Limited on the sale of gold and silver concentrate.
The mill operator also working with Blue Lagoon Resources (CSE: BLLG; US-OTC: BLAGF), which plans to start the Dome Mountain mine in July.
Copper exploration
In addition to gold and silver production, Nicola is preparing to begin copper exploration at its New Craigmont project — a property spanning over 108 sq. km along the southern end of the Guichon Batholith. The project is beside Teck Resources (TSX: TECK.A, TECK.B; NYSE: TECK) Highland Valley Copper, Canada’s largest copper mine.
Nicola also owns the fully permitted Treasure Mountain silver mine, which includes 30 mineral claims and a mineral lease covering more than 22 sq. km.
Shares in Nicola Mining have gained around 45% this year to 42¢ apiece in Toronto, giving the company a market capitalization of $73.2 million.
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