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Nicola enters 4-year gold, silver profit share agreement with Gavin Mines

Nicola Mining Inc. entered into a four-year mining and milling profit share agreement with Gavin Mines Inc., which will focus on material mined from the latter's Dome Mountain gold-silver mine in British Columbia.

Gavin will ship up to 40,000 tonnes of mill feed per year to the company's 200-tonne-per-day mill facility, according to an April 6 release.

Gavin Mines will receive up to C$263.50 per tonne for all aspects associated with mining, operations and transportation of the material to the mill, while Nicola will receive up to C$55.00 per tonne for processing the material.

The companies previously entered a profit share agreement in May 2016, under which Gavin shipped about 5,700 tonnes of stockpile material and produced approximately 47,193 grams of gold and 249,628 grams of silver.