Curated News
By: NewsRamp Editorial Staff
October 08, 2026
Nicola Mining Extends Gravel Deal, Completes Treasure Mountain Drilling
TLDR
- Nicola Mining extended LNSS gravel rights through 2033 and completed drilling at Treasure Mountain, advancing key assets.
- LNSS exercised its option for exclusive gravel extraction at Craigmont, paying Nicola per-tonne royalties through March 2033.
- The agreement supports Indigenous economic participation and continued collaboration at the Craigmont Mine Site in British Columbia.
- Nicola Mining finished its first diamond drilling at Treasure Mountain, finding sulphide minerals across 800 meters.
Impact - Why it Matters
This news matters because it demonstrates Nicola Mining’s ability to secure long-term revenue streams through the LNSS agreement while simultaneously advancing its exploration portfolio. The gravel extraction extension provides steady royalty income and strengthens ties with Indigenous partners, which is increasingly important for mining projects in Canada. The completed drilling at Treasure Mountain could lead to a significant silver discovery, potentially adding substantial value to the company. Furthermore, pending assay results from both Treasure Mountain and New Craigmont could serve as near-term catalysts for the stock. For investors, these developments highlight Nicola’s dual focus on cash-flowing assets and high-potential exploration, positioning it well in the junior mining sector. The news also reflects broader trends of Indigenous economic participation and responsible resource development in British Columbia.
Summary
Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has announced a significant extension of its Rock and Gravel Extraction and Preferential Engagement Agreement with Lower Nicola Site Services Ltd. (“LNSS”), now running through March 3, 2033. The agreement grants LNSS exclusive rights to extract gravel and rock from the Craigmont Mine Site near Merritt, British Columbia, with Nicola receiving per-tonne royalties. The extension also preserves preferential engagement provisions for competitive services provided by LNSS, fostering continued collaboration and Indigenous economic participation. This long-term deal underscores Nicola’s commitment to sustainable resource development and community partnership.
In addition to the agreement extension, Nicola Mining has completed its first diamond drilling program at the MB Zone of its Treasure Mountain Silver Project. The four-hole program totaled approximately 800 meters and targeted a previously undrilled quartz-sulphide vein system. Geological logging and core sampling are underway, with laboratory assays pending. Preliminary visual observations identified intervals of sulphide mineralization, including pyrite, pyrrhotite, and sphalerite, though analytical results are needed to assess the findings. The company also anticipates assay results from its 2026 New Craigmont copper exploration program. These exploration milestones highlight Nicola’s active pursuit of high-grade mineral resources.
Nicola Mining Inc. is a junior mining company that owns a 100% owned mill and tailings facility near Merritt, British Columbia, and holds the fully permitted New Craigmont copper project and the Treasure Mountain silver property. The company’s mill can process both gold and silver mill feed via gravity and flotation processes. The latest news and updates relating to NICM are available in the company’s newsroom. This article has been disseminated on behalf of Nicola Mining Inc. and may include paid advertising. For more information, visit https://nnw.fm/Zq96r. NetworkNewsWire (“NNW”) is a specialized communications platform focused on financial news and content distribution, part of the Dynamic Brand Portfolio @ IBN.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, Nicola Mining Extends Gravel Deal, Completes Treasure Mountain Drilling
