Nicola Mining Secures Five-Year Mining Lease Extensions for New Craigmont Copper Property
TL;DR
Nicola Mining secured five-year mining lease extensions, positioning it advantageously near Canada's largest copper mine for potential accelerated operations.
The extensions cover 10,800 hectares and existing permits streamline the transition from exploration to operations while maintaining environmental commitments.
This development supports sustainable copper production, essential for green technologies and economic growth in local communities.
Nicola Mining's New Craigmont was Canada's highest-grade historic copper mine, now revived with extended leases for modern exploration.
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Nicola Mining Inc. has received six mining lease extensions for five years from the Ministry of Mining and Critical Minerals, covering its wholly owned New Craigmont Property adjacent to Teck Resources Ltd.'s Highland Valley Copper, Canada's largest copper mine. The extensions secure tenure across the company's 10,800-hectare project, which represents the site of Canada's highest-grade historic copper mine. CEO Peter Espig stated that these extensions, combined with existing permits, could expedite the company's transition from exploration toward potential operations.
The New Craigmont Project covers an area of 10,913 hectares along the southern end of the Guichon Batholith and is strategically positioned adjacent to Highland Valley Copper. This development is significant as it provides long-term security for exploration and potential development activities at a historically productive copper property. The proximity to Canada's largest copper mine enhances the strategic value of the property, while the extended lease terms provide stability for investment decisions and operational planning.
Nicola Mining continues porphyry-focused exploration while maintaining its environmental and consultation commitments. The company maintains a 100% owned mill and tailings facility located near Merritt, British Columbia, and has signed Mining and Milling Profit Share Agreements with high-grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed via gravity and flotation processes. Additional corporate information is available through the company's newsroom at https://ibn.fm/HUSIF.
The extensions demonstrate regulatory support for continued mineral exploration and development in the region. This long-term security enables comprehensive exploration programs and potential development planning without the uncertainty of near-term lease expirations. The strategic location adjacent to established mining operations provides infrastructure advantages and geological context that could accelerate project development timelines and enhance the economic viability of future mining operations at the historic copper property.
Curated from InvestorBrandNetwork (IBN)
