Nicola Mining Commences 2026 Exploration Drilling at Treasure Mountain Silver Mine
Key Takeaways
- •Nicola Mining has commenced a 2026 drilling campaign at Treasure Mountain consisting of four drill holes totaling approximately 800 meters, representing the first drill test of the previously undrilled MB Zone.
- •Historical surface sampling at the MB Zone 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, according to the company.
- •Drilling is expected to be completed by the end of September, with assay results from AGAT Laboratories anticipated by year-end to provide the first analytical data on the zone's subsurface mineralization.
- •Nicola Mining wholly owns the Treasure Mountain Property, which spans more than 2,200 hectares through 30 mineral claims and a mineral lease, and is fully permitted for mining.
- •If drilling confirms the high-grade surface sampling, the project's existing permits could enable a faster path to development and expand the company's silver, lead, and zinc resource base.
Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) has commenced its 2026 exploration drilling program at Treasure Mountain, a fully permitted silver mine situated approximately 30 km northeast of Hope, British Columbia.
The campaign comprises four drill holes totaling roughly 800 meters and will mark the first drill test of the previously undrilled MB Zone, where the company is targeting high-grade silver-lead-zinc mineralization with additional copper and gold. As a first-pass program, the drilling is an early-stage evaluation of the zone, with success measured by whether mineralization continues below the surface exposures.
According to the company, previous surface sampling at the MB Zone returned values of up to 1,300 g/t silver, 2.59 g/t gold, 1.16% copper, 27.4% lead, and 27.2% zinc. Nicola noted that these historical grades underscore the potential of the target but are not necessarily indicative of subsurface mineralization. The current program is designed to determine whether the mineralized veins observed at surface demonstrate continuity and scale at depth — the central question for a zone that has so far been evaluated only at surface.
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. Because the MB Zone has never been drilled, the laboratory results will provide the first analytical data on the zone's subsurface mineralization. Visual examination of the core has identified intervals of intense mineralization, although the company cautioned that visual observations are not a substitute for analytical results.
The program is a significant step in the company's effort to expand its resource base at Treasure Mountain and potentially add high-grade silver, lead, and zinc to its portfolio. Nicola Mining owns 100% of the Treasure Mountain Property, which comprises 30 mineral claims and a mineral lease spanning an area exceeding 2,200 hectares. The property is fully permitted for mining — a notable position in an industry where securing mine permits is commonly a multi-year process — a status that could allow for a faster path to development if drilling results are positive.
Beyond Treasure Mountain, Nicola Mining 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.
The company also maintains a 100%-owned mill and tailings facility near Merritt, British Columbia, which is fully permitted to process both gold and silver mill feed through gravity and flotation processes. Nicola has signed Mining and Milling Profit Share Agreements with high-grade gold projects.
With drilling now underway, the program is expected to generate significant news flow in the coming months, with drilling completion at the end of September and the laboratory results by year-end serving as the key checkpoints ahead. Positive assay results could validate the high-grade surface sampling at the MB Zone and enhance the economic prospects of the project. The company posts the latest updates through its newsroom at and the full press release is available at
