- Nicola Mining (TSXV:NIM) has begun its C$1.5 million 2026 diamond drilling program at the New Craigmont Copper Project near Merritt, B.C.
- The program will test the newly defined “Jotun” geophysical anomaly, believed to be linked to a potential porphyry copper system beneath the historic Craigmont mine
- In addition to drilling, plans include soil sampling, a Mobile MT geophysical survey, and analysis of thermal vectoring data to refine future targets
- Nicola Mining stock (TSXV:NIM) last traded at $0.77
Nicola Mining (TSXV:NIM) has begun its 2026 exploration diamond drilling program at its New Craigmont Copper Project, located near Merritt, British Columbia, marking a significant step in the company’s ongoing efforts to evaluate the project’s porphyry copper potential.
According to a media release from the company, the 2026 Program is centred on testing a newly defined exploration target, known as the “Jotun” target, which was identified through geophysical work completed in recent years. In 2022, Nicola conducted a property‑wide Z‑axis Tipper Electromagnetic (ZTEM) survey using Geotech Ltd., which highlighted a prominent resistivity anomaly situated immediately north of the historic Craigmont open pit.
Follow‑up drilling in 2023, including drill holes NC23‑005 and NC23‑006 located south of the anomaly, intersected encouraging porphyry‑style alteration assemblages. These results supported the possibility of a larger, potentially mineralized system at depth and helped refine the geological interpretation of the area. Based on this work, the company designated the geophysical feature as the Jotun target.
Nicola believes the Jotun target represents a compelling exploration opportunity that could be linked to the causative intrusive body responsible for the high‑grade copper skarn mineralization historically mined at Craigmont. The mine was one of British Columbia’s most significant copper operations during its production history. The company has noted, however, that New Craigmont may host multiple porphyry systems, similar to the nearby Highland Valley Copper operation, underscoring the broader exploration potential of the property.
Building on the 2025 program, the 2026 drilling program will focus on a previously untested area at New Craigmont, with diamond drilling designed to directly test the ZTEM resistivity anomaly at depth. Nicola has engaged Dorado Drilling Ltd. to carry out the drilling.
The planned drill hole is expected to intersect the target zone at approximately 775 metres downhole, based on the company’s current geological model. The hole is planned with an approximate dip of 80 degrees and a defined azimuth intended to optimally test the interpreted anomaly. The primary objective is to determine whether a causative intrusive body associated with the historic Craigmont copper skarn system is present.
In addition to testing the Jotun target, drilling is expected to provide valuable geological data that will support broader exploration efforts at New Craigmont. The company said the program should improve its understanding of alteration assemblages, structural controls, lithological contacts, and mineralization styles—key elements for advancing a potential porphyry copper system.
The estimated budget for the 2026 Program is approximately C$1.5 million. In addition to diamond drilling, the budget includes a geophysical survey and a soil sampling campaign aimed at enhancing target generation across the property.
Soil sampling is planned in the northwestern portion of the New Craigmont property, an area that remains relatively underexplored. Nicola also plans to complete a comprehensive Mobile Magnetotelluric (Mobile MT) survey to further refine deep geophysical targets and improve subsurface interpretations. The company said additional details on these programs will be released as the field season progresses.
During the 2026 field season, Nicola also expects to receive fully processed results from its thermal vectoring dataset. This information is intended to support enhanced interpretation of hydrothermal alteration patterns and assist in determining whether further data collection should be expanded in subsequent years.
Nicola anticipates drilling at New Craigmont will conclude in early June, after which the company plans to commence another diamond drilling program at its Treasure Mountain silver project.
Nicola Mining Inc. is a junior mining company that maintains a wholly owned mill and tailings facility, located near Merritt, British Columbia. It has signed Mining and Milling Profit Share Agreements with high grade gold projects. Nicola’s fully permitted mill can process both gold and silver mill feed via gravity and flotation processes.
Nicola Mining stock (TSXV:NIM) last traded at $0.77 and has risen more than 100 per cent since this time last year.
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