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 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.
The 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.
The commencement of drilling at Treasure Mountain is significant for Nicola Mining and its investors because it marks the first drill test of a zone that has yielded exceptionally high surface grades. If the drilling confirms that the mineralization extends at depth, it could substantially expand the resource potential of the Treasure Mountain property, which already includes 30 mineral claims and a mineral lease spanning over 2,200 hectares. Positive results could also enhance the company's ability to attract partners or financing for future development. Conversely, if the drilling fails to demonstrate continuity, it may diminish the prospectivity of the MB Zone and affect the company's valuation.
Treasure Mountain is one of two key assets for Nicola Mining, alongside the New Craigmont Project, a high-grade copper property covering 10,913 hectares adjacent to Highland Valley Copper, Canada's largest copper mine. The company also 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. Nicola has signed Mining and Milling Profit Share Agreements with high-grade gold projects, positioning it as a junior mining company with both production and exploration upside.
For more details, the full press release is available at https://ibn.fm/HLLaK. The latest news and updates relating to NICM can be found in the company's newsroom at https://ibn.fm/NICM.
Investors and industry observers will be watching the assay results closely, as they will provide the first definitive data on the depth potential of the MB Zone. The outcome could influence Nicola's exploration strategy and its ability to advance Treasure Mountain toward development, making this drilling program a critical near-term catalyst for the company.
