Nicola Mining: Bonanza grades of 62.1 grams of gold on Dominion Creek!

Nicola Mining Inc. (TSX.V: NIM) (FWB: HLI) found ore grades of 62.1 g / t Au, 320 g / t Ag, 23.4% Pb and 12.4% Zn in a 9.7 kilogram sample from its new Dominion Creek property. The sample is from an outcrop of sulphide mineralization in the # 16 vein obtained during a site visit on August 28, 2020 for due diligence and material for initial metallurgical investigations.

On September 17, 2020, Nicola had a strategic partnership with High Range Exploration Ltd. (“High Range”) announced. Nicola has entered into an ore processing contract processing and profit sharing agreement (the “Profit Sharing Agreement”) with High Range that will secure a 50% interest in the operating profit of the Dominion Gold Project. Subsequently, on September 23, 2020, Nicola announced that it had signed a letter of intent (the “LOI”) with High Range, which will secure the Company a 50% interest in the Dominion Creek property itself (the “Gold Project”). With the profit-sharing agreement and the LOI, Nicola will receive a total economic interest of 75% in Dominion Creek.

In addition, Nicola had another sample from High Range’s property analyzed. High Range provided 26.4 kilograms of mineralized material obtained from a bulk sample taken between 1989 and 1992. The 26.4 kilogram sample had the following ore grades: 58.7 grams of gold per ton, 130 grams of silver per ton, 7.7% Pb, 4.2% Zn, 1.49% Fe and 4.65% S.

The partners want to apply for a larger mass sample

The mineralization in the property has been known since the late 1980s at the latest. During the years 1987 and 1990, excavations for exploration purposes were carried out. (Illustration 1). The excavations took place after the then owner Noranda had completed its drilling campaign. Exposed mineralization is rarely found outside of the excavation zone; most of the prospective zone is covered by sediment. Mineralized boulders have been found in multiple locations along the mineralization trend that runs through the property for 2 kilometers.

According to historical reports, the sulphide mineralization has gold grades between 30 and 60 g / t (1-2 ounces of gold per ton). Nicola nevertheless points out that the amount of material used in the sample analysis cannot be considered representative. Together, High Range and Nicola plan to submit an application for approval of a larger bulk sample shortly.

Figure 1: Site plan showing the mineralized South Zone in the historic bulk sampling area (data provided by High Range).

Prehistory of the Dominion Creek Property

The Dominion Creek Property consists of 9 resource claims (55 units) totaling approximately 1,058 hectares. Noranda Exploration Company Ltd. acquired the property in 1986 from prospector N. Kencayd. Subsequently, Noranda carried out geological, geochemical and geophysical measurements, which led to an increase in the property. Between 1987 and 1990, Noranda undertook a small-scale geochemical measurement of silt samples as part of its exploration program (only 20 samples). The encouraging results then led to a larger-scale soil geochemical survey (3,399 samples). Noranda drilled a total of 53 shallow diamond holes (average depth approximately 65.7 meters) for a total drill volume of 3,483.7 meters.

Trenching in several soil geochemical anomalies where Pb, Zn, Cu, Ag and Au meet has resulted in the discovery of a number of mineralized quartz veins. The drillings in the so-called South Zone extended over an area of ​​around 300 meters by 200 meters. The drilling in the North Zone was limited to two smaller areas (approximately 50 meters by 60 meters in size) approximately 300 meters apart. The drill targets were selected on the basis of data from the geochemical soil measurements, outcrop samples from the excavations and samples from the drillings in the area of ​​the access road. Noranda then returned the property to N. Kencayd, who sold it to A. Raven in 1989. Between 1989 and 1992 A. Raven uncovered the South Zone and piles of ore-bearing material, which ultimately led to the removal of a 1,180-ton bulk sample.

In 1992, eighty tons of concentrate were transported to the Cominco smelter in Trail for processing. For the bulk sample, a so-called “head grade” of 14.1 g / t Au was determined in the mill; the average gold yield was 93%. At that time there was essentially no material separation; However, the visual inspection of mineralized rock on site prior to removal is possible and should result in an increase in the ore grade and a reduction in transport costs.

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