Nicola Mining (TSX-V:NIM) says an independent evaluation of its Treasure Mountain Silver Project in British Columbia, Canada, found no conditions that would prevent the historic mine from advancing to the next stage of a potential restart evaluation.
The company recently engaged engineering and consulting firm McElhanney to inspect the historic underground silver-lead-zinc mine and assess its condition following approximately 13 years of inactivity.
According to Nicola, the assessment found the underground workings to be “in generally better condition than anticipated following approximately 13 years of inactivity”.
Both principal mine portals remain accessible, while significant portions of the underground development remain open. Natural ventilation pathways are functioning and much of the historical underground infrastructure remains in place.
“The findings provide an encouraging starting point for our evaluation of restarting Treasure Mountain,” Nicola CEO Peter Espig says.
Importantly, McElhanney did not identify any conditions during the inspection that would prevent the project from progressing to the next stage of evaluation, according to Nicola.
Potential processing material identified
The assessment also identified a significant volume of muck material in a crosscut near the Level 1 portal, which McElhanney says could represent broken ore from historical mining or development.
Once safe access is established, Nicola plans to conduct representative sampling and assaying of the material to determine whether it is mineralised.
If mineralisation is confirmed, the company says the material could potentially provide an accessible source of processing feed as part of future restart activities.
McElhanney also identified accessible underground drill stations, partially developed headings, and unexplored areas within the existing workings, which Nicola believes could support further exploration.
Next phase of restart evaluation
The next phase for the project will include a detailed geotechnical and rehabilitation assessment, followed by surveying and mapping of the underground workings.
Nicola then plans to reconcile the updated survey with historical mine plans, geological models, and production records to prioritise areas for further exploration and potential mining.
The work is expected to inform subsequent mine planning, ventilation design, and rehabilitation requirements as Nicola continues evaluating a potential restart.
Initial recommendations focus on directing rehabilitation expenditure towards areas considered to offer the greatest potential operational value, supporting a phased approach to any future restart.
Treasure Mountain, located near Hope, BC, operated during the 1930s and produced 39,558 ounces of silver, 379,532 pounds of lead, and 88,455 pounds of zinc, according to Nicola.
A 50-tonne-per-day flotation mill was also constructed at the property in the 1950s, although no production was recorded, the company says.
Nicola Mining is a junior mining company that maintains a 100%-owned mill and tailings facility, located near Merritt, British Columbia.
Write to Jackson Chen at Mining.com.au
Image: Nicola Mining
