Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) has commenced its 2026 exploration drilling program at Treasure Mountain, a permitted silver mine located approximately 30 km northeast of Hope, British Columbia. The program consists of four drill holes totaling about 800 meters at the previously undrilled MB Zone, where the company is targeting high-grade silver-lead-zinc mineralization with additional copper and gold. Previous surface sampling at the MB Zone returned results of up to 1,300 g/t silver, 2.59 g/t gold, 1.16% copper, 27.4% lead and 27.2% zinc.
Drilling is expected to be completed by the end of September, with assay results anticipated by year-end. Core from the first hole is being submitted to AGAT Laboratories for multi-element analysis. Visual examination of the core has identified intervals of intense mineralization, though the company cautioned that visual observations are not a substitute for analytical results. Nicola said the program is designed to determine whether mineralized surface veins at the MB Zone demonstrate continuity and scale at depth.
The commencement of drilling at Treasure Mountain is significant for Nicola Mining as it represents a critical step in testing the depth extension of high-grade surface mineralization. If the drilling confirms continuity and scale, it could lead to a maiden resource estimate at the MB Zone, potentially adding a new silver-rich deposit to the company’s portfolio. This is particularly important given the current strong prices for precious and base metals, which could enhance the project’s economic viability.
Treasure Mountain is a fully permitted silver mine, which reduces permitting risk and allows for a faster path to potential development. The project comprises 30 mineral claims and a mineral lease spanning over 2,200 hectares. Nicola Mining also owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith, adjacent to Highland Valley Copper, Canada’s largest copper mine. Additionally, the company maintains a 100% owned mill and tailings facility near Merritt, British Columbia, which can process both gold and silver mill feed via gravity and flotation processes.
Investors and industry observers will be watching the assay results closely, as they will provide the first definitive data on the MB Zone’s potential. Positive results could significantly de-risk the project and attract further investment. The company’s newsroom at https://ibn.fm/NICM offers the latest updates. For the full press release, visit https://ibn.fm/HLLaK.
