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Bullboard - Investor Discussion Forum Nicola Mining Inc V.NIM

Alternate Symbol(s): HUSIF

Metals & Mining Industrial Metals & Minerals

Nicola Mining Inc. is a Canada-based junior mining company. The Company maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an area of approximately 10,913 hectares (ha) along the southern end of the Guichon Creek Batholith and is adjacent to Teck Resources Ltd... see more

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Nicola Mining Inc > Finally the Mill opens - Now why do we not release the news?

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Post by greatlakesgent on Jul 07, 2021 12:13pm

Finally the Mill opens - Now why do we not release the news?

Toll Mill Partner Starts Processing Dome Mountain

Blue Lagoon's Toll Mill Partner Starts Processing Dome Mountain Mineralized Material

On Track To Generate First Cash From Sale of Gold And Silver Concentrate

VANCOUVER, BC / ACCESSWIRE / July 7, 2021 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to provide the following update on its Dome Mountain Gold / Silver Project, an all-year road accessible project located a short 50-minute drive from Smithers B.C., that holds both an Environmental Management Act Permit (EMA) and a Mining Permit providing for up to 75,000 tonnes production annually. In addition, the property has 15 known high grade gold veins with 90% of the nearly 19,000 hectare property yet to be explored (see the Company's news release dated May 4, 2020).

PROCESSING OF MINERALIZED MATERIAL BEGINS

The Company is pleased to report that on Friday July 2, 2021, the Company's toll milling partner, Nicola Mining, started the processing of the mineralized material from its Dome Mountain underground mine. Shipping of the mineralized material, which began on June 14, 2021, has gone smoothly with approximately 15 trucks leaving the mine site on a weekly basis. To date 44 - forty ton trucks - have been dispatched to Nicola, delivering some 1700 tonnes of the Dome Mountain high-grade mineralized material. Daily shipments are expected to continue until all 6,000 plus tonnes of material have been removed from the underground mine and processed at the Nicola Mining mill.

"It was an honour to be hosted by Nicola's President, Peter Espig, and be on site to witness firsthand the very first Dome Mountain mineralized material get crushed and readied for processing," said Rana Vig, President and CEO of Blue Lagoon Resources. "In fourteen short months since acquiring this mine, our team has laser beam focused on execution, delivering unprecedented results for this project. And although we have successfully hit numerous important milestones, perhaps none has been as important and as rewarding as witnessing ‘our' mineralized material being processed and readied for conversion into gold and silver," he added.

Once processed and converted, the concentrate produced from processing the Dome mineralized material will be sold to Ocean Partners UK Limited, a leading European based commodities trading company with offices in six countries around the world (see news release June 7, 2021). Payment to both Nicola Mining and the Company will be based on every 50 tonnes of concentrate material received by Ocean Partners.

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