Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) announced it is in the final stages of preparation to commence gold and silver extraction operations at its Dominion Gold Project in British Columbia, with mill feed extraction expected to begin during the first week of July. Material from the high-grade project will be processed at the company’s wholly owned Merritt Mill, the only fully permitted milling facility in British Columbia authorized to process gold and silver material from across the province.
In preparation for production, Nicola has completed several key infrastructure and operational initiatives, including installation of a 14-person operational camp, acquisition of mining equipment and hiring of operational crews and contractors. The company also strengthened its reclamation profile with an additional $251,000 payment toward reclamation bonding requirements. Management said Dominion has demonstrated strong mineralization with vein systems open in all directions and grades of up to 113 grams of gold per tonne, while highlighting the project’s potential to become a significant source of high-grade mill feed and support future cash flow growth.
The news is significant because it marks a step toward increasing domestic gold and silver production in Canada. The Dominion Project’s high-grade mineralization could provide a steady supply of mill feed for Nicola’s Merritt Mill, potentially generating revenue and cash flow for the company. This development also underscores the growing activity in British Columbia’s mining sector, which is a key economic driver for the region. For investors, the commencement of extraction could signal near-term production and financial performance improvements for Nicola Mining.
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