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 comprises 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. These historical grades underscore the potential of the target, though they are not necessarily indicative of subsurface mineralization. The current drill program is designed to determine whether the mineralized surface veins at the MB Zone demonstrate continuity and scale at depth.
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 exploration program is important for Nicola Mining as it seeks to expand its resource base at Treasure Mountain and potentially add high-grade silver, lead, and zinc to its portfolio. The company owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning an area exceeding 2,200 hectares. The property is fully permitted for mining, which could facilitate a faster path to development if results are positive.
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 is fully permitted to process both gold and silver mill feed via gravity and flotation processes. It has signed Mining and Milling Profit Share Agreements with high-grade gold projects.
For investors, the commencement of drilling at Treasure Mountain represents a near-term catalyst with the potential for significant news flow in the coming months. Positive assay results could validate the high-grade surface sampling and enhance the economic prospects of the project. The company’s newsroom provides the latest updates at https://ibn.fm/NICM. The full press release is available at https://ibn.fm/HLLaK.
