Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has released the findings of an independent underground inspection of its Treasure Mountain Silver Mine in British Columbia, revealing that the mine is in better-than-anticipated condition after roughly 13 years of inactivity. The assessment, conducted by McElhanney Ltd., an independent Canadian engineering and consulting firm, indicates that the mine's infrastructure has largely remained intact, which could expedite the company's plan to recommence mining operations in 2027.
The inspection found that both principal portals are accessible, significant sections of underground development remain open, natural ventilation is functioning, and much of the historical infrastructure is still in place. No conditions were observed that would prevent the project from advancing to the next stage of evaluation. This positive news comes as Nicola Mining evaluates the feasibility of reopening the mine, which has been closed since approximately 2013.
The report also identified accessible underground drill stations, partially developed headings, unexplored areas, and potential unprocessed material that could offer valuable exploration opportunities. These findings suggest that the mine may not only be easier to restart than expected but also holds untapped potential for further mineral discovery.
Nicola Mining plans to proceed with a detailed geotechnical and rehabilitation assessment, followed by surveying and mapping. This work is expected to support subsequent mine planning, ventilation design, rehabilitation, and the recommencement of mineral extraction. CEO Peter Espig commented that the existing underground development, combined with Nicola's permitted Merritt milling infrastructure, could provide a disciplined and capital-efficient pathway toward renewed silver production.
The Treasure Mountain Property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares. The company also owns a 100% interest in the New Craigmont Project, a high-grade copper property adjacent to Highland Valley Copper, Canada's largest copper mine, and maintains a fully permitted mill and tailings facility near Merritt, British Columbia, capable of processing both gold and silver mill feed via gravity and flotation processes.
For more details on the inspection results, visit https://ibn.fm/HdSg9. To stay updated on the latest news regarding Nicola Mining, see their newsroom at https://ibn.fm/NICM.
