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Mining News January 31, 2023 05:00:10 PM

Nicola Mining Plans Restart of Cariboo Gold Mill

Paul Ploumis
ScrapMonster Author
Nicola Mining has so far received more than 16,000 tonnes of gold ore from the Cariboo gold project.

Nicola Mining Plans Restart of Cariboo Gold Mill

SEATTLE (Scrap Monster): Nicola Mining announced that it is in the final stages of preparations to restart Cariboo gold mill in Merritt, B.C. The mill is scheduled to restart operations by the end of first quarter 2023.

Earlier this year, the company had signed a mining and milling profit share agreement with Osisko Development, by which Osisko will be allowed to transport material to Nicola’s mill site.

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Nicola Mining has so far received more than 16,000 tonnes of gold ore from the Cariboo gold project. The feasibility study results published by Osisko had indicated average annual gold production of 163,695 ounces over the projected 12-year mine life. It has also completed recruitment of employees for key positions.

The results of the 2022 soil sampling program at New Craigmont copper property is expected soon for publication, as the company is getting itself prepared for an extensive exploration program in 2023.

Peter Espig, CEO of Nicola noted that the company is very excited to re-commence gold production and to utilize operational cash flow towards funding exploration on its flagship New Craigmont asset. The exploration program will extend to never-before-drilled, locations on the property, he added.

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