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. These grades, if confirmed at depth, could indicate a significant new mineralized system. 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 has identified intervals of intense mineralization, but 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. This is the key question for investors: if the high-grade surface samples extend into a larger underground deposit, Treasure Mountain could become a more substantial silver producer. The results will also inform future resource estimates and potential development plans.
Treasure Mountain is fully permitted, which reduces regulatory risk and allows for a relatively quick exploration timeline. The property includes 30 mineral claims and a mineral lease, spanning an area exceeding 2,200 hectares. Nicola owns 100% of the project.
For the broader mining industry, the program highlights continued exploration activity in British Columbia’s prolific mineral belts. Silver and base metal prices have been volatile, but high-grade discoveries can attract attention and investment. The outcome at Treasure Mountain could influence sentiment toward similar early-stage projects in the region.
Nicola Mining also owns 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.
To view the full press release, visit https://ibn.fm/HLLaK. The latest news and updates relating to NICM are available in the company’s newsroom at https://ibn.fm/NICM.
