Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) has begun its 2026 exploration drilling program at Treasure Mountain, a fully permitted silver mine located approximately 30 kilometers 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, 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, 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 as it represents the first test of the MB Zone's subsurface potential. If the drilling confirms that the high-grade surface mineralization extends to depth, it could substantially expand the resource base at Treasure Mountain and enhance the project's economic viability. The presence of multiple metals—silver, lead, zinc, copper, and gold—adds further value, as it could allow for diversified revenue streams and reduce dependence on any single commodity price. For a junior mining company like Nicola, a successful exploration program can be a major catalyst for share price appreciation and could attract interest from larger mining companies or investors.
Treasure Mountain is a key asset for Nicola Mining, which owns 100% of the property that includes 30 mineral claims and a mineral lease spanning over 2,200 hectares. The company 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, 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.
Investors and industry observers will be watching the assay results closely, as they will provide the first definitive data on the MB Zone's depth potential. The company's newsroom at https://ibn.fm/NICM offers ongoing updates. For the full press release, visit https://ibn.fm/HLLaK.
