Monitor upcoming laboratory simulation results to assess viable recovery rates and the economic case for processing at the Merritt Mill. The high silver grade in sample RE-04 warrants close attention, but given the limited surface sampling and caveats, a significant stock move is not justified until larger-scale, representative testing is completed.
Price Chart
Executive Summary
Nicola Mining announces positive initial assay results from two stockpiles at the Red Eye Project, with weighted average grades of 2.83 g/t gold and 753.41 g/t silver from 47.82 kg of surface samples. Results are preliminary with significant caveats (limited surface sampling, high variability, not representative of entire volume), but the high silver grade in the larger stockpile (sample RE-04: 4,817.38 ppm Ag) is notable. The company will proceed with laboratory simulations to assess potential processing at its Merritt Mill.
Key Facts
- Weighted average grade: 2.83 g/t Au and 753.41 g/t Ag from 47.82 kg samples across two stockpiles
- Larger stockpile (~1,200 tonnes) includes a high-grade sample (RE-04) at 18.148 g/t Au and 4,817.38 g/t Ag
- Smaller stockpile (~300 tonnes) graded up to 0.375 g/t Au and 242.87 g/t Ag
- Material originates from Red Eye Resources under a previously announced profit share agreement (August 17, 2026)
- Company will conduct laboratory simulations to optimize recovery rates
- Sampling is limited to surface material; buried material not accessible, and additional material was added to the larger pile post-sampling
Financial Impact
Not quantifiable at this stage; potential processing of ~1,500 tonnes of stockpiled material, but no revenue or cost estimates provided
Risk Factors
- Surface-only sampling not representative of entire stockpile volume; buried material could have lower grades
- High assay variability (especially silver ranging from 18.11 to 4,817.38 ppm) adds uncertainty to grade distribution
- Additional material was added to the larger stockpile after sampling, further limiting representativeness
- No timeline or cost estimates for proceeding to processing; profit share terms with Red Eye Resources undisclosed
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001062993-26-004719 |
| Document: form6k.htm | 0001062993-26-004719 |
| Document: 0001062993-26-004719-index-headers.html | 0001062993-26-004719 |
| Document: 0001062993-26-004719-index.html | 0001062993-26-004719 |
| Document: 0001062993-26-004719.txt | 0001062993-26-004719 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 14, 2026 12d ago | 6-K | $5.30 | awaiting T+20 | — | $4.95 (−6.60%) |
Sep 18, 2026 5w ago | 6-K | $5.99 $5.25 | ▼ −12.30% | ▼ −12.50% | $4.95 (−17.31%) |
Sep 17, 2026 5w ago | 6-K | $5.99 $5.25 | ▼ −12.30% | ▼ −12.50% | $4.95 (−17.31%) |
Aug 31, 2026 8w ago | 6-K | $6.52 $5.56 | ▼ −14.72% | ▼ −14.54% | $4.95 (−24.08%) |
Aug 13, 2026 10w ago | 6-K | $6.02 $5.91 | ▼ −1.83% | ▲ +0.16% | $4.95 (−17.77%) |
Aug 10, 2026 11w ago | 6-K | $6.21 $6.68 | ▲ +7.57% | ▲ +8.48% | $4.95 (−20.29%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers