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 kilometers northeast of Hope, British Columbia. The program consists of four drill holes totaling approximately 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, according to the company.
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, but Nicola cautioned that visual observations are not a substitute for analytical results. The program is designed to determine whether mineralized surface veins at the MB Zone demonstrate continuity and scale at depth.
This exploration program is significant for Nicola Mining and its investors because it represents the first drill test of the MB Zone, which has shown exceptional surface grades. If the drilling confirms that the high-grade mineralization extends at depth, it could substantially expand the resource potential of the Treasure Mountain property and enhance the company's profile in the silver and base metals sector. The results could also attract further investment and partnership interest in Nicola's broader portfolio, which includes a fully permitted mill and the New Craigmont copper project.
Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange and Frankfurt Exchange that maintains a 100% owned mill and tailings facility located near Merritt, British Columbia. It has signed Mining and Milling Profit Share Agreements with high-grade gold projects. Nicola's fully permitted mill can process both gold and silver mill feed via gravity and flotation processes. The company owns 100% of the New Craigmont Project, a high-grade copper property covering an area of 10,913 hectares along the southern end of the Guichon Batholith and adjacent to Highland Valley Copper, Canada's largest copper mine. The company also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
For investors and industry observers, the outcome of this drilling program could provide valuable insights into the geological continuity of the MB Zone and inform future exploration and development decisions. The high-grade surface sampling results have already generated interest, and successful drilling could validate the potential for a significant silver-lead-zinc deposit. This is particularly relevant as demand for silver and critical minerals continues to rise, driven by industrial applications and the transition to renewable energy. The company's progress at Treasure Mountain may also serve as a catalyst for increased activity in the region and demonstrate the viability of exploration in overlooked areas.
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