Nicola Mining Announces Soil Geochemistry Results from the WP Area at the New Craigmont Property
Nicola Mining Announces Soil Geochemistry
Results from the WP Area at the New
Craigmont Property
Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - Nicola Mining Inc. (
TSXV: NIM
)
(
FSE: HLI
) (
OTCQB: HUSIF
)
(the "
Company
" or "
Nicola Mining
") is pleased to announce soil
geochemistry results collected from the WP area at the New Craigmont Property.
The WP Zone (See Map 1) (MINFILE 092ISE068) consists of sheared, brecciated, and mineralized
Nicola Group volcanic rocks with associated chalcopyrite, pyrite, and specularite. Previous chip channel
sampling (2016) by Nicola Mining returned values of 0.37% Cu over 10 metres and 0.71% Cu over 4.0
metres in historic trenches and shafts, with values up to 0.54% and 1.68% Cu respectively
(
https://nicolamining.com/nicola-mining-provides-update-on-thule-project-exploration-activities/
). The soil
survey was partially completed with an area defined through the Multi-Year Area Based (MYAB) Permit
(Diagram 1).
Soil Geochemistry Highlights:
The
WP Zone
, which has never had diamond drilling exploration, has returned the highest concentration
of Cu in soils collected thus far at the Craigmont Property. Highlights include:
Highest individual soil assays: 930 ppm Cu, 0.7 ppm Ag, 288 ppm Zn, and 20.4 ppm Pb.
14% of soil samples collected at the WP area returned anomalous (>90
th
percentile, Cu > 63 ppm)
to very anomalous (>97
th
percentile), copper-in-soil assay results.
Anomalous values (>50 ppm Cu) correspond with historic trenches and shafts.
Cu mineralization is open in all directions (north/south/east/west).
Anomalous Cu values are on trend with samples collected from the 2000 soil survey.
Fall 2022 Soil Geochemistry Program
In October 2022, 241 B-horizon soil samples were collected and analyzed within the WP area at New
Craigmont. Samples were collected at 50-metre sample intervals along 11 east-west soil lines spaced
100 metres apart. The defined, soil anomalies coincide with 2022 ZTEM survey
1
and 2012 airborne
magnetic survey anomalies
2
.
New Craigmont Property
New Craigmont is the site of the historic Craigmont Copper Mine, which produced approximately 34
million tonnes of copper at 1.3%, one of the highest-grade major copper mines in North America's
history. Despite the significant historic production, the 10,913-hectare site remains highly unexplored
due to the original mine's sole focus on iron-copper skarn deposits and depressed copper prices ($0.60
in 1982) at the time of closing. Technological advances in mining, as well as Nicola's success in
consolidating fragmentated shareholder ownership
1
of the mineral claims and mining leases, have
significantly augmented the Property's potential.
Diagram 1:
MYAB Permit
Boundaries and Targets with 2022 WP Soil Grid.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/155456_diagram1.jpg
Diagram 2:
2022 Cu soil assays with inverse distance weighting squared (IDW
2
) interpolation overlying
hillshade DEM with highlighted values from previous chip channel sampling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/155456_diagram2.jpg
Quality Assurance / Quality Control
The Company contracted the services of APEX Geoscience Ltd. ("Apex") to conduct its soil
geochemistry program on the WP area. Soil samples were collected at pre-determined sites using a 50
m (east-west) x 100 m configuration (north-south). Soils were placed in kraft soil sample bags and all
metadata associated with each sample location was recorded. Once sorted and logged, samples were
shipped to ALS Canada Ltd. ("ALS") in North Vancouver, British Columbia. At ALS, individual samples
were dried and sieved to -180 micron (80 mesh). Both fractions were retained. A 30 gram split of the
sieved portion was partially digested (Aqua Regia) and analysis of 48 elements was performed by four-
acid ICP-MS (ME-MS61). ALS is an ISO / IEC 17025 certified laboratory and independent of Nicola
Mining. During the soil geochemistry program, Apex crews provided a field duplicate from every 25th
sample and these field duplicates were inserted into the sample stream to monitor the quality of
analyses for the soil sampling program.
Qualified Person
Kevin Wells, P.Geo, a consulting geologist to the Company, is the independent 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 TSX Venture and Frankfurt Exchanges 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 10,913 hectares along the southern end of the Guichon Batholith and is adjacent to Teck
Resources Ltd.'s Highland Valley Copper, Canada's largest copper mine. The Company also owns
100% of the Treasure Mountain Property, which is comprised of 51 mineral tenures, 21 legacy claims:
100 cell units, and five crown grants for a total of approximately 2,850 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.
1
News
Release:
https://nicolamining.com/nicola-mining-provides-exploration-update-including-results-from-recently-completed-ztem-survey/
2
News Release:
https://nicolamining.com/wp-
content/uploads/2015/03/Technical_Report_on_the_Thule_Copper_Iron_Property.pdf
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/155456