Nicola Mining (TSX-V:NIM) has begun the first drilling program at the MB Zone of its Treasure Mountain silver mine in British Columbia, Canada.
The four-hole diamond drilling program totals approximately 800m and targets previously undrilled veins about 1km northwest of the historical mine.
Nicola describes MB as a ‘compelling’ target for silver-lead-zinc mineralisation similar to that encountered at the mine, with additional copper and gold potential.
Western Exploration Diamond Drilling is conducting the program, testing northeast-southwest-trending quartz-sulphide veins sampled during earlier exploration.
Nicola says visual examination of core from the first hole, TM26-001, has identified semi-massive pyrite-pyrrhotite-sphalerite mineralisation, including sulphide-rich patches and aggregates.
Core samples are being submitted to AGAT Laboratories for multi-element analysis. Visual observations are not a substitute for assays, which remain pending.
CEO Peter Espig says drilling marks a transition from maintaining the asset to testing its exploration potential.
“We are particularly encouraged by the intensity of mineralisation observed in the first drill core; however, our interpretation will remain disciplined, and assay driven,” Espig says.
“The 2026 TM Program was designed to test whether mineralised surface veins demonstrate continuity and scale at depth.”
Nicola expects to finish drilling by the end of September and release assays by year-end.
Exploration alongside restart evaluation
The program follows an independent inspection that, according to Nicola, identified no conditions preventing Treasure Mountain from advancing to the next stage of a potential restart evaluation.
The permitted mine, approximately 30km northeast of Hope, has been on care and maintenance since 2013.
Earlier soil and surface rock sampling informed the MB targets. One exposed-vein sample returned 1,300 grams per tonne silver, 2.59g/t gold, 1.16% copper, 27.4% lead, and 27.2% zinc. These surface results do not establish continuity at depth.
Nicola says drilling assays will help guide subsequent exploration.
Nicola Mining owns Treasure Mountain, the New Craigmont Project, and a permitted gold-silver mill and tailings facility near Merritt, BC, Canada. Treasure Mountain comprises 30 mineral claims and a mineral lease covering more than 2,200 hectares.
Write to France Pinzon at Mining.com.au
Main image: Nicola Mining
