Nicola Mining Announces New Craigmont Follow-up Induced Polarization Survey Results
TSX.V: NIM
NICOLA MINING ANNOUNCES NEW CRAIGMONT FOLLOW-UP INDUCED
POLARIZATION SURVEY RESULTS
VANCOUVER, B.C. November 10, 2017 – Nicola Mining Inc. (the “ Company ” or “ Nicola ”) is pleased
to announce results on an additional Induced Polari zation Geophysical Survey (“IP Survey”) that focused
on the Embayment, Titan Queen, and Promontory Hill Zones, which are located on the Company’s
wholly-owned New Craigmont Property.
Three North-South IP Survey lines were completed, two of which focused on the Company’s Titan Queen
and Embayment targets and a third aimed at providin g further clarity on the Promontory Hill. The
Company had previously announced positive IP Survey results in its July 24, 2017 news release and felt
the area warranted additional work prior to drilling.
Two of the lines targeted potential mineralization immediately south of the historic Craigmont
underground mining operations, including a western line over a large previously unmined area, while th e
third line provided additional insight into the Emb ayment Zone, which the Company is currently drill
testing.
All three North-South IP Survey lines indicate cont inuation of the historic high-grade
Craigmont ore body. The mineralization seems to, n ot only encompass Embayment
Zone mineralization, but also appears to lead to a new anomalous zone that is now
referred to as Embayment South.
On Oct. 16, 2017 the Company engaged Scott Geophysi cs to conduct an additional IP Survey over the
New Craigmont Property for the following:
1. To evaluate the Titan Queen and Embayment target(s);
2. To provide clarity on the Promontory Hill anomaly; and,
3. To understand if IP Survey could detect mineralized anomalies through the Kingsvale
Conglomerate cover, which is approximately 150.0m thick.
The ability to detect mineralized anomalies through the Kingsvale via IP Survey is a technological
advancement that did not exist in the 1980’s and si gnificantly augments exploration accuracy.
Historically, Craigmont Mines recognized the potent ial of the Embayment Zone and developed its
underground development to the immediate vicinity o f the zone for future exploration. In Nicola’s 201 6
Exploration Program the Company’s only drill hole into the Embayment target intercepted 1.11% Cu over
85.92m. The Company is currently conducting its 20 18 Drill Program on the Embayment Zone and will
issue a news release pending assay results.
The results of the survey over Titan Queen indicate limited potential for porphyry mineralization on t he
northern section of the lines, but clearly indicate an anomalous chargeability associated immediately
south of the Embayment target. Line 647,130E extend ed over top of the historic Craigmont underground
workings and exhibited a weak chargeable response. The two subsequent lines stepping 200m westward
indicate the anomaly getting stronger. In addition , line 646,730E indicates that the anomaly merges a t
depth with another chargeable body to the south, which is referred to as the Embayment South Zone.
“It seems connected to a larger anomaly at depth fu rther south. That anomaly is
building from the easternmost line towards the west to this line. Further west,
on trend is a strong mag low that stands out in the plan.” Dr. Jules Lajoie .
Figure 1: Location of Titan Queen/Embayment IP geop hysical lines. The background is Total Magnetic Int ensity (TMI) from
2012 AeroMagnetic Airborne Geophysical Survey.
Results of the Titan Queen IP Survey provided significant insight on the following:
1. Discovery of the South Embayment Zone, a previously unexplored anomaly.
2. The ability to view historic underground mineralize d sections and the Embayment Zone via IP
Survey augments the ability to accurately target mi neralization in future drill programs. This is
highlighted in Figure 2, below:
South
Embayment
Titan
Queen
Embayment
Craigmont Pit
Figure 2: Looking West, chargeability of three IP Lines (647,130E; 646,930E; 646,730E) show increasing chargeability across the
lines. Line 647,130E anomaly is interpreted to represent the remaining historic Craigmont underground ore body, with the lines
stepping west into unmined ground.
The increasing strength of the anomaly towards the west aligns with the historic interpretation of the
Embayment target as the offset of the Craigmont body continuing to the west.
All geophysical data was collected by Scott Geophys ics Ltd. and processed and evaluated by
Geophysicist Dr. Jules Lajoie.
Following up on the July 24, 2017 Promontory Hill n ews release, IP data collected on the Promontory
Hill area crossed a claim boundary to increase dept h view into Nicola’s Promontory Hill target. The
boundary and line lengths can are seen in Figure 3 onto Clibetre Exploration Ltd. Betty mineral titles .
Subsequently, an agreement has been reached regardi ng sharing of the data and costs associated with th e
portion of the project.
Figure 3: July 24, 2017 news released IP lines in relation to the Clibetre Exploration Ltd.
The primary target of interest for the Company is t he Promontory Hill Anomaly, which is located
approximately 500m away from the claim boundary. Li ne 5562700N IP cross section is seen in Figure 4
outlines the previously released anomaly.
South
Embayment
Promontory Hill
Figure 4: July 24, 2017 news released IP lines in on Promontory Hill
Peter Espig, Chief Executive Officer commented, “The stability of operations and explor ation upside
provide the Company with very exciting opportunitie s. In addition, the exploration opportunity is uni que
because we are on permitted active mine site, M-68) . We continue to conduct our drill program and loo k
forward to providing drill results pending assays.”
Qualified Person
Scientific and technical content in this press rele ase was reviewed by Mr. Chris LeClair G.I.T. and
verified by Mr. Kevin Wells, P.Geo., who is classif ied as a "Qualified Person" as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects .
Nicola Mining Inc. is a junior mining company listed on the TSX Ventu re Exchange, and has a fully-
permitted 200 tonne per day custom mill that recomm enced operations in June 2016. Its 100% owned
state-of-the-art mill and tailing facility, located near Merritt, British Columbia, is capable of proc essing
both gold and silver mill feed via gravity and floa tation processes. The Company has 100% of the Thule
Copper property covering 10,084 hectares along the southern end of the Guichon Batholith. In addition,
the Company also owns 100% of Treasure Mountain, it s high-grade silver property, and a gravel pit,
which is located adjacent to its milling operations.
On behalf of the Board of Directors
“Peter Espig ”
Peter Espig
CEO & Director
For additional information contact:
Peter Espig
Telephone: (778) 385-1213
Email: [email protected]
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 fo r the adequacy or accuracy of this release.