Nicola Mining Inc. has commenced its 2026 exploration drilling program at Treasure Mountain, a permitted silver mine located approximately 30 kilometres northeast of Hope, British Columbia. The work marks the first time the company has drill-tested the MB target area, situated about one kilometre northwest of the historical mine workings.

The program comprises four diamond drill holes totaling roughly 800 metres designed to test mineralized surface veins at depth. Historical soil and surface rock sampling conducted between 2019 and 2022 identified silver, lead, zinc, copper and gold mineralization along an exposed vein system in the zone.

Drilling is expected to conclude by the end of September, with assay results anticipated by year-end. Core from the initial hole has been submitted to AGAT Laboratories for multi-element analysis. Visual examination of the core identified intervals of intense mineralization, though the company noted that visual estimates do not replace analytical results.

Treasure Mountain was placed on care and maintenance in 2013 due to depressed silver prices and has remained a core asset within the company's portfolio. Nicola holds a multi-year area-based exploration permit and a mining lease extension for the project valid through April 26, 2032, and has stated an intention to recommence operations at the silver mine in 2027.

“Treasure Mountain has remained a vital component of Nicola's asset portfolio throughout a prolonged period in which silver-market conditions did not justify aggressive capital deployment. Commencing drilling at the MB Zone marks a deliberate transition from asset preservation to value-oriented exploration. We are particularly encouraged by the intensity of mineralization observed in the first drill core; however, our interpretation will remain disciplined, and assay driven. The 2026 TM Program was designed to test whether mineralized surface veins demonstrate continuity and scale at depth. Positive analytical results would materially enhance our geological understanding of the MB Zone and help define the next phase of exploration at Treasure Mountain.”

— Peter Espig, Chief Executive Officer

Assay results from the initial drilling are expected to guide subsequent exploration phases across the property.

Read the full announcement: Nicola Mining Commences First-Ever Drill Program at Treasure Mountain's MB Zone and Reports Intense Mineralization