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 comprises four drill holes totaling approximately 800 meters at the previously undrilled MB Zone. 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, highlighting the potential of the area.
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.
The commencement of this drilling program is significant for Nicola Mining as it marks the first drill testing of the MB Zone, which has shown exceptional surface grades. If the drilling confirms depth continuity, it could substantially expand the resource potential at Treasure Mountain. The presence of multiple metals—silver, lead, zinc, copper, and gold—adds further economic appeal, especially in a market with strong demand for critical minerals and precious metals. For investors, the results could be a major catalyst, given the high-grade nature of the surface samples.
Treasure Mountain is a fully permitted silver mine, which reduces permitting risk and allows for a streamlined exploration process. 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, giving it full control over any potential discovery.
In addition to Treasure Mountain, Nicola Mining maintains a 100% owned mill and tailings facility near Merritt, British Columbia. The company has signed Mining and Milling Profit Share Agreements with high-grade gold projects, and its fully permitted mill can process both gold and silver mill feed via gravity and flotation processes. This infrastructure could facilitate future development at Treasure Mountain should the exploration yield positive results.
Nicola 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. This portfolio diversification positions Nicola Mining as a junior mining company with multiple advanced assets.
The 2026 exploration program at Treasure Mountain is a key step in unlocking the value of the MB Zone. With assay results expected by year-end, the market will be watching closely to see if the high-grade surface mineralization extends at depth. For more information, visit the full press release 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.
