Nicola takes another look at Craigmont potential

According to Mining News Pro - The property includes the historic Craigmont mine. The former mine was active from 1938 to 1982, during which time it mined 33.4 million tonnes of ore grading 1.28% copper. The property remains permitted.

Nicola says the New Craigmont project does not conform to a typical exploration pipeline. Plans call for definition drilling in the unexploited areas particularly in situ orebodies and for underground surveying to delineate the material in sub-level caves in the Craigmont Central area.

Last year, drilling at Craigmont Central returned 150 metres grading 0.54% copper, including 6 metres at 1.05% and 7 metres at 2.1% and 5 metres at 9.6%. Two holes drilled at the Craigmont West target returned 100.6 metres grading 1.3% copper and 71.4 metres grading 0.6% copper.

A new 43-101 resource estimate is being done to update the historic non-compliant estimate of 54.4 million tonnes grading at least 0.4% copper. This material was unmined because a cut-off grade of 0.7% was used.