Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) has commenced its 2026 exploration drilling program at the Treasure Mountain property, a fully permitted silver mine located approximately 30 kilometers 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 values 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 anticipated by year-end. Core from the first hole is being submitted to AGAT Laboratories for multi-element analysis. Nicola reported that visual examination of the core has identified intervals of intense mineralization, but cautioned that visual observations are not a substitute for analytical results. The program is designed to determine whether mineralized surface veins at the MB Zone demonstrate continuity and scale at depth.
The start of drilling at the MB Zone represents a critical step for Nicola Mining as it seeks to expand its resource base at Treasure Mountain. The high-grade surface samples suggest the potential for a significant silver-lead-zinc system, and the company's ability to advance the project to the drilling stage demonstrates its operational capacity. If the drilling confirms continuity of mineralization at depth, it could lead to a maiden resource estimate for the MB Zone, which would be a major milestone for the junior explorer.
Treasure Mountain is one of two key assets for Nicola Mining. The company also 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. In addition, Nicola maintains a 100% owned mill and tailings facility near Merritt, British Columbia, which is fully permitted to 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, providing additional potential revenue streams.
For investors, the 2026 exploration program at Treasure Mountain is a key catalyst. Success at the MB Zone could enhance the value of the company's silver asset and provide feed for its mill, which is already permitted and operational. The company's diversified portfolio, including copper and gold exposure, positions it well in the current commodity market. Nicola Mining is listed on the NASDAQ, TSX Venture Exchange, and Frankfurt Stock Exchange, providing access to a broad investor base.
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