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 approximately 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 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.
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 has identified intervals of intense mineralization, though the company cautioned that visual observations are not a substitute for analytical results. Nicola said the program is designed to determine whether mineralized surface veins at the MB Zone demonstrate continuity and scale at depth.
The start of drilling at Treasure Mountain is significant for several reasons. First, it represents a critical test of a previously undrilled target with exceptionally high surface grades. If the drilling confirms that the mineralization extends at depth, it could substantially expand the resource potential of the Treasure Mountain property. Second, the program is fully funded and permitted, reducing execution risk and allowing the company to advance the project without delays. Third, the results, expected by year-end, could serve as a near-term catalyst for the company’s stock, which trades on the NASDAQ, TSX Venture Exchange, and Frankfurt Stock Exchange.
Treasure Mountain is one of two key assets for Nicola Mining. 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. In addition, Nicola 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.
The Treasure Mountain Property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares. The current drilling program is focused on the MB Zone, which has never been drilled, making this a pure exploration play. The company’s decision to drill follows encouraging surface sampling results that suggest the potential for a significant silver-lead-zinc system with copper and gold credits. If successful, the program could lead to a maiden resource estimate and further exploration upside.
Investors and industry observers will be watching the assay results closely, as they will provide the first hard data on the subsurface continuity of the MB Zone. A positive outcome could re-rate Nicola Mining’s shares and attract attention from larger mining companies interested in the region’s prospectivity. Conversely, disappointing results could impact the company’s valuation, given the high expectations set by the surface samples.
For more information, the full press release is available at https://ibn.fm/HLLaK. The latest news and updates relating to NICM are available in the company’s newsroom at https://ibn.fm/NICM. Additional details about Rocks & Stocks can be found at https://RocksAndStocks.news.
