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 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, indicating the presence of significant mineralization at surface.
The 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 first hole 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 importance of this exploration program lies in its potential to confirm whether the high-grade surface mineralization at the MB Zone extends to depth, which could substantially increase the resource potential of the Treasure Mountain property. If successful, the results could enhance the company's asset base and attract further investor interest. Treasure Mountain is a fully permitted silver mine, which reduces permitting risks and allows for a more streamlined path to potential development. The property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares.
Nicola Mining maintains a 100% owned mill and tailings facility near Merritt, British Columbia, which can 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. Additionally, Nicola 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 diversified portfolio positions Nicola to benefit from multiple commodities.
For investors, the 2026 drilling program at Treasure Mountain represents a key catalyst. Positive assay results could validate the MB Zone as a significant new discovery and support resource expansion. The company's newsroom at https://ibn.fm/NICM provides the latest updates. The full press release can be accessed at https://ibn.fm/HLLaK. As exploration progresses, the market will closely watch for assay results by year-end, which will provide critical insights into the economic viability of the MB Zone and the broader Treasure Mountain property.
