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 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, indicating the potential for significant mineralization.
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. The program is designed to determine whether mineralized surface veins at the MB Zone demonstrate continuity and scale at depth. This is a critical step in evaluating the economic viability of the MB Zone and could lead to a maiden resource estimate if the results are positive.
The exploration program is important for Nicola Mining as it seeks to expand its resource base and enhance the value of its Treasure Mountain property. 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 located in a prolific mining region of British Columbia, with good infrastructure and access. Successful drilling could attract further investment and partnership opportunities, given the high-grade nature of the surface samples.
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. The company has signed Mining and Milling Profit Share Agreements with high-grade gold projects, providing additional revenue potential.
For investors, the commencement of drilling at Treasure Mountain represents a near-term catalyst with the potential to significantly increase the company’s silver resources. The high-grade surface samples suggest the MB Zone could host a substantial deposit, and the upcoming assay results will be closely watched. If the drilling confirms continuity and scale, Nicola Mining could be positioned for a re-rating of its shares. The company’s newsroom at https://ibn.fm/NICM provides the latest updates. For the full press release, visit https://ibn.fm/HLLaK.
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