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 roughly 800 meters at the MB Zone, an area that has never been drilled. 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, though 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. If successful, the results could confirm a significant new zone of high-grade mineralization, potentially expanding the resource base at Treasure Mountain and enhancing the project's economic viability.
Treasure Mountain is a fully permitted silver mine, which reduces permitting risk and allows for a faster path to potential development. The property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares. Nicola Mining owns 100% of the Treasure Mountain Property, as well as 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.
In addition to its exploration assets, Nicola maintains a 100% owned mill and tailings facility near Merritt, British Columbia. The fully permitted mill can 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. This infrastructure could be leveraged to process any ore mined from Treasure Mountain, providing potential operational synergies and cost advantages.
The start of drilling at the MB Zone represents a key catalyst for Nicola Mining. Positive assay results could validate the high-grade surface samples and demonstrate the potential for a larger mineralized system at depth. This would be important for the company's growth strategy and could attract further investor interest. The company's newsroom, available at https://ibn.fm/NICM, provides ongoing updates. For the full press release, visit https://ibn.fm/HLLaK.
As a junior mining company listed on multiple exchanges, Nicola Mining is focused on advancing its projects in British Columbia. The Treasure Mountain drilling program is a critical step in evaluating the economic potential of the MB Zone. With assay results expected by year-end, the market will be watching closely for evidence that the high-grade mineralization extends beyond surface exposures. Success could position Nicola for further resource definition and potential development, while also highlighting the value of its permitted infrastructure.
