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Nicola Mining Inc. (TSXV:NIM) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $650,000 from the placement of up to 5 million units priced at $0.13 per unit. Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for 24 months.

Additional Information:

Company: Nicola Mining Inc.
Website: http://www.nicolamining.com
Stock Symbol: TSXV: NIM
Date Published: Aug 24, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Nicola Mining Inc. has announced a non-brokered private placement and completion of the first phase of the soil sampling program at its wholly owned Treasure Mountain property.

The company is looking to raise gross proceeds of up to $650,000 from the placement of up to 5 million units priced at $0.13 per unit.

Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for 24 months.

The shares are trading at $0.175.

The company owns 100% of the Treasure Mountain Property, an approximately 7,000-acre fully-permitted high grade silver mine located approximately 90 minutes from Nicola’s Craigmont property.

This first phase included 304 of the planned 530 B-horizon soil samples collected over the MB zone and to the southwest.

The 2020 Program plans to complete the 2019 soil program which was cut short due to inclement weather.

During the soil sampling program, five outcrops were identified hosting mineralized vein material which were sampled via surface grab samples and shallow drilling, via portable drill.

The locations indicate a potential strike length of mineralization of approximately 1.2 kilometers, that had previously not been tested by the company.

Complimentary to the soils program, the company revisited reported locations of silver-bearing veins on the property identified in historic literature of the area.

These sites include the Cal Vein, which was sampled as part of the 2019 soils program.

These results are very encouraging as they identify the potential for other mineralized structures, outside of the Treasure Mountain underground mine workings, that were previously underexplored by preceding operators on the property.

The company also owns 100% of the New Craigmont Project, a high-grade copper property, and an active gravel pit that is located adjacent to its milling operations.

The company’s fully permitted 200 tonne per day mill and tailings storage facility is situated within Nicola’s New Craigmont property.

The fully-permitted mill can process both gold and silver mill feed via gravity and flotation processes.

It is the only facility permitted to process gold and silver from throughout the province and the company seeks to utilize the facility as a mid sized mine facilitator and milling hub.

Nicola has already signed four mill profit share agreements with high grade gold producers.

For more information, please visit the company’s website at www.nicolamining.com, contact Peter Espig, CEO, at 778-385-1213 or by email at info@nicolamining.com.

I’m Megan Edwards for Investmentpitch Media