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 roughly 800 meters at the previously undrilled MB Zone, where the company is targeting high-grade silver-lead-zinc mineralization with additional copper and gold. This announcement marks a significant step for the junior mining company as it seeks to expand its resource base and demonstrate the economic potential of its wholly owned property.
The importance of this drilling program lies in its focus on the MB Zone, which has never been drill-tested but has yielded impressive surface sampling results. According to the company, previous surface sampling returned grades of up to 1,300 g/t silver, 2.59 g/t gold, 1.16% copper, 27.4% lead, and 27.2% zinc. Such high-grade surface values suggest the potential for a robust mineralized system at depth, and the current program is designed to determine whether these mineralized surface veins demonstrate continuity and scale. If successful, the results could significantly enhance the resource potential of Treasure Mountain and bolster Nicola’s position in the silver space.
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 the company cautioned that visual observations are not a substitute for analytical results. Investors will be watching closely for the assay results, which will provide the first definitive data on the MB Zone’s subsurface mineralization.
The Treasure Mountain property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares. Nicola Mining owns 100% of the property, along with a fully permitted mill and tailings facility near Merritt, British Columbia. The company also owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares adjacent to Highland Valley Copper, Canada’s largest copper mine. Nicola has signed Mining and Milling Profit Share Agreements with high-grade gold projects, and its mill can process both gold and silver mill feed via gravity and flotation processes.
For investors, the commencement of drilling at Treasure Mountain represents a potential catalyst. Positive assay results could lead to a re-rating of the stock, as the market assesses the size and grade of the MB Zone. The program’s success would also validate Nicola’s exploration strategy and could attract further interest from partners or financiers. The company’s newsroom at https://ibn.fm/NICM provides ongoing updates, and the full press release can be viewed at https://ibn.fm/HLLaK. As the drilling progresses, stakeholders will look for evidence that Treasure Mountain can become a significant silver producer in British Columbia.
