Nothing shows more impressively that we are in a new bull market for gold and silver than the way in which company stocks react to routine reports. Already announcing that Nicola Mining Inc. (TSX.V: NIM; FRA: HLI) Exploration on his Treasure Mountain silver project started today and was enough to temporarily raise the share by 80 percent.
While sales were still weak, the reaction speaks for itself. Nicola cleverly recalls that the company is not only a promising copper explorer, but also a “silver play”. As a reminder: the company Huldra Silver, from which Nicola Mining emerged and whose assets including mill and mine Nicola now owns, was worth CAD 16 in 2012 and was quoted at a market value of several hundred million dollars – without the copper assets.
More recently, Nicola had less remembered this silver past, but more attention to the development of his copper assets. With a silver price of more than USD 20, however, the signs change. Nicola CEO Peter Espig has always emphasized that reactivating Treasure Mountain is an option in the matching silver market.
The company is now planning to take 530 soil samples above the magnetic northeast-southwest trend identified in the aeromagnetic survey flown by Scott Hogg and Associates and subsequently interpreted by SJ Geophysics in 2012. The trend is subpar parallel to the mineralization found within Treasure Mountain underground mines and coincides with the Vigo and Cal veins.
The 2020 program aims to broaden the MB zone grid and possibly delimit the entire strike length of the soil anomaly, which coincides with the magnetic trend, to target after receiving a multi-year exploration permit (“MYAB”) on the property through prospecting and drilling to develop for future exploration (see Map 1).
Map 1: 2020 Treasure Mountain Exploration Program (green marked targets).
To see an expanded version of Map 1, please visit https://orders.newsfilecorp.com/files/4873/60122_5a88b2a6e4aae84f_001full.jpg
In addition to taking soil samples, the company hopes to take slot samples from recently identified silvery veins and review the historically reported exposure of silvery veins.
Nicola Mining Inc. is a junior mining company with a 100% owned, state-of-the-art mill and overburden near Merritt, British Columbia. Nicola’s goal is to put this mill back into operation as soon as possible. To this end, the company has already signed four profit sharing agreements with high-grade gold producers. It is a fully approved mill that can process both gold and silver ground using gravity and flotation. The company also owns 100% of the New Craigmont project, a high grade copper property and an active gravel pit that is in close proximity to its mill operations.
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