Nicola Mining to start gold mill in British Columbia in Q3

Nicola Mining (TSXV: NIM) said on Wednesday it is currently undergoing pre-production adjustments at its milling and processing facility in British Columbia, as it has started receiving ore from gold explorer Talisker Resources (TSX: TSK).

Nicola’s $33 million facility located near Merritt, BC, is currently the only facility that is permitted to accept third-party gold and silver mill feed from across the province.

According to the company, the facility underwent several upgrades during the second half of 2024. Production at the facility is expected to ramp up and reach full capacity in the third quarter of 2025, it said.

The company added that it has also begun the process of applying for a permit amendment to increase the mill’s throughput.

Nicola first entered a milling agreement with Talisker in July 2024. The two companies recently signed a new agreement and have started working with Ocean Partners UK on the sale of gold and silver concentrate.

Nicola said it is also preparing to begin copper exploration at its New Craigmont project—a high-grade property spanning over 108 sq. km along the southern end of the Guichon batholith within BC’s Interior Plateau. The project is adjacent to Highland Valley, Canada’s largest copper mine.

Nicola also owns 100% of the Treasure Mountain property, which includes 30 mineral claims and a mineral lease, covering more than 22 sq. km.

Nicola shares were down 1.4% Wednesday morning in Toronto, giving the company a market capitalization of C$61.8 million ($44.7 million).