Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) has commenced its 2026 exploration drilling program at Treasure Mountain, a fully 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 zone returned impressive results, including 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 start of drilling at Treasure Mountain is significant for Nicola Mining as it seeks to expand its resource base beyond its existing projects. The company already owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith and adjacent to Highland Valley Copper, Canada’s largest copper mine. It also owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares. Additionally, Nicola maintains a 100% owned mill and tailings facility near Merritt, British Columbia, and has signed Mining and Milling Profit Share Agreements with high-grade gold projects. The fully permitted mill can process both gold and silver mill feed via gravity and flotation processes.
If the MB Zone drilling confirms continuity and scale of the high-grade mineralization observed at surface, it could materially enhance the economic potential of Treasure Mountain. The presence of silver, lead, zinc, copper, and gold in the samples suggests a polymetallic system that could provide multiple revenue streams. The company’s existing infrastructure, including the permitted mill, could allow for efficient processing of any future ore, reducing capital costs and timelines. Investors will be watching the assay results closely, as they will provide the first subsurface data from this undrilled target.
For more information, the full press release can be viewed at https://ibn.fm/HLLaK. The latest news and updates relating to NICM are available in the company’s newsroom at https://ibn.fm/NICM.
