Nicola Mining Announces Commencement of 3D IP Survey at New Craigmont Copper Project
Nicola Mining Announces Commencement of
3D IP Survey at New Craigmont Copper Project
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2024) -
Nicola Mining Inc.
(TSXV: NIM) (FSE:
HLI)
(the "
Company
" or "
Nicola
") is pleased to announce the commencement of a 3D induced
polarization survey ("
3D IP Survey
") at the New Craigmont Copper Project ("
New Craigmont
"),
situated approximately 11 kilometres from Merritt, BC and adjacent to Teck Resources Ltd.'s Highland
Valley Copper, Canada's largest open-pit copper mine.
As previously announced in the Company's
Feb. 21, 2024
news release, Nicola has engaged Dias
Geophysical of Saskatoon, SK, to conduct a 3D IP Survey. The Company has commenced the
comprehensive survey to better define two principal exploration areas: the MARB-CAS Zone and the
WP-MARB 72 Zone (refer to Figure 1).
Upon data review of the approximate 6.5 square kilometre
survey, the Company will commence its 2024 diamond drilling exploration program.
Figure 1
. 2024 IP Survey Area and Resistivity Anomalies from the 2022 ZTEM Survey.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/208981_c1e5dd9684f49b3f_001full.jpg
Historical IP surveys have provided valuable insights on BC copper projects, including at New
Craigmont. A previous IP survey in the Embayment Zone displayed high correlation between
chargeability and mineralization. Notably, a robust chargeability anomaly adjacent to the Embayment
Zone, identified at depth, aligns closely with high-grade copper mineralization intercepts from drill holes
DDH-THU-002, NC-2018-01, and NC-2018-03 (referencing the Company's news releases dated
Sep 7,
2016
,
Feb. 28, 2018
, and
Apr. 2, 2018
). This presents an enticing opportunity to potentially extend
mineralization into the western portion of the property.
Furthermore, a significant resistivity anomaly appears in the western section of New Craigmont, near the
Lornex Fault, via the Company's
2022 ZTEM Survey
.
As highlighted in Figure 1, the anomaly is adjacent
to a newly discovered porphyry-style copper mineralization showing (WP; quartz vein hosted copper
mineralization with potassic alteration halo; Figure 1). This anomaly represents a promising porphyry
exploration target. The 3D IP Survey will cover this anomaly, aiding in the delineation of drilling targets.
Employing a modern 3D array with a large transmitting generator capable of surveying depths up to 700
metres, this current survey marks a substantial advancement from historical methods. The 3D IP Survey
promises to refine drill targets on the Property, including extensions of known mineralization from the
Embayment zone to the MARB-CAS zone, as well as the potential discovery of a porphyry copper
system in the WP-MARB 72 area.
Qualified Person
William Whitty, P. Geo., the Company's VP Exploration, is the Qualified Person as defined by National
Instrument 43-101 -
Standards of Disclosure for Mineral Projects
for the technical disclosure contained
in this news release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the Exchange and Frankfurt Exchange that
maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. It has signed
Mining and Milling Profit Share Agreements with high grade gold projects. Nicola's fully-permitted mill
can process both gold and silver mill feed via gravity and flotation processes.
The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an
area of over 10,800 hectares along the southern end of the Guichon Batholith and is adjacent to
Highland Valley Copper, Canada's largest copper mine. The Company also owns 100% of the Treasure
Mountain Property, which includes 30 mineral claims and a mineral lease, spanning an area exceeding
2,200 hectares.
On behalf of the Board of Directors
"
Peter Espig
"
Peter Espig
CEO & Director
For additional information
Contact:
Peter Espig
Phone: (778) 385-1213
Email:
URL:
www.nicolamining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
To view the source version of this press release, please visit
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