Nicola Mining and Osisko enter mining and milling profit share deal

Osisko’s Cariboo mine is part of profit share deal with Nicola Mining. Nicola Mining photo

Nicola Mining (TSXV:NIM; FSE:HLI), and Osisko Development (NYSE:ODV; TSXV:ODV) have signed a mining and milling profit sharing agreement.

Under the agreement, Osisko may transport material to Nicola’s mill site, located near Merritt, B.C. The approximate $30 million facility is also the location of the historic Craigmont copper mine, which had an historic production grade of 1.3% copper. Nicola’s Merritt mill site is a unique milling and processing facility because the company owns the industrial-zoned site free-hold.

Previously, Nicola had announced that the two parties had entered into memorandum of understanding for the processing of gold mill feed currently stockpiled at Osisko’s site, located in the Cariboo Mining District in east-central B.C., east and southeast of the city of Quesnel.

Nicola says it is in the process of planning its 2023 exploration program, which will be announced at a later date.

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