- Nicola Mining (TSXV: NIM; NASDAQ: NICM) kicked off an 800-metre exploration drilling program at its 2,200-hectare Treasure Mountain silver project in British Columbia.
- The junior silver, lead and zinc company splits its focus between mill and tailings work at a wholly owned facility near Merritt, British Columbia, with numerous profit-sharing agreements in place, and the exploration of a prospective district-scale project portfolio.
- Nicola Mining stock has given back 32.08% year-over-year while gaining 260% since 2021.
Nicola Mining (TSXV: NIM; NASDAQ: NICM) kicked off an 800-metre exploration drilling program at its 2,200-hectare Treasure Mountain silver project, located 30 kilometres northeast of Hope, British Columbia, which hosts a historical resource estimated at 4.9 million ounces of silver, 12.5 million pounds of lead and 17.6 million pounds of zinc.
The land package, placed on care and maintenance in 2013 when silver hovered around US$20 per ounce, will be diamond drilled at the MB target area, an undrilled zone about 1 km from the historical Treasure Mountain mine, with leadership keen to align its prospectivity for high-grade silver, lead and zinc with a silver price that has more than tripled to US$66 per ounce at the time of writing.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Nicola’s soil and surface rock sampling of quartz-sulphide veins from 2019 to 2022 will guide its exploration efforts, yielding highlights of:
- 813 grams per ton (g/t) silver, 0.52 g/t gold, 19% zinc and 4.66% copper in sample 2100151.
- 105 g/t silver and 1.18% copper in sample 2100152.
- 1,300 g/t silver, 2.59 g/t gold, 1.16% copper, 27.4% lead and 27.2% zinc in sample 2100207.
Multi-element analysis of core from the first drillhole is currently underway to substantiate visible “intervals exhibiting intense mineralization,” as described in Friday’s news release.
The four-hole program will be completed in September with assay results expected by the end of the year.
Leadership commentary
“Treasure Mountain has remained a vital component of Nicola’s asset portfolio throughout a prolonged period in which silver market conditions did not justify aggressive capital deployment. Commencing drilling at the MB zone marks a deliberate transition from asset preservation to value-oriented exploration,” Peter Espig, Chief Executive Officer of Nicola Mining, said in a statement. “We are particularly encouraged by the intensity of mineralization observed in the first drill core; however, our interpretation will remain disciplined and assay driven. The 2026 program was designed to test whether mineralized surface veins demonstrate continuity and scale at depth. Positive analytical results would materially enhance our geological understanding of the MB zone and help define the next phase of exploration at Treasure Mountain.”
About Nicola Mining
Nicola Mining is a junior silver, lead and zinc company that splits its focus between mill and tailings work at a wholly owned facility near Merritt, British Columbia, with numerous profit-sharing agreements in place, and the exploration of a prospective district-scale project portfolio.
Nicola Mining stock (TSXV: NIM; NASDAQ: NICM) is up by 2.86% on the news trading at C$0.72 as of 10:25 am ET. The stock has given back 32.08% year-over-year while gaining 260% since 2021.
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