Nicola Mining Drills 100.6 Metres of 1.33% Copper and Reports on the Winter Drilling Program at the New Craigmont Project, British Columbia.
TSX.V: NIM
NEWS RELEASE
Nicola Mining Drills 100.6 Metres of 1.33% Copper and Reports on the
Winter Drilling Program at the New Craigmont Project, British
Columbia.
April 2, 2018, Vancouver, BC.: Nicola Mining Inc. (TSX .V: NIM), (the “Company” or “Nicola”)
is pleased to provide the results of their latest drill hole, as well as a summary of results on its
2017-2018 Winter Drilling Program (the “Program”). The Program focused on extending and
defining boundaries on the Craigmont West Zone, previously referred to as the Embayment
Zone at the Company’s 100%-owned New Craigmont Project, British Columbia. The name was
changed from “Embayment” to “Craigmont West” to denote the westward extension of the
mineralized skarn zone mined in the historic Craigmont open pit and underground mine.
The program was designed to target the full width and western extent of a segment of copper -
iron-skarn mineralization believed to be the continuation of the mineralized zone extending west
from the historic Craigmont Mine. The initial drilling results at Embayment were reported in news
releases dated February 28, 2018, January 12, 2018 and December 21, 2017. Nicola has since
received all results from the remaining drilling to date.
Hole NC-2018-03 Highlights
• Hole NC-2018-03 intersected the following:
100.6 metres at 1.33% Cu including:
40.2m at 2.52% Cu
And 15.0m grading 5.18% Cu
The results have improved the geological understanding of the area and continue to establish
the width and continuity of the Craigmont West Zone.
Previous Craigmont West Zone Exploration Highlights include:
• *71.4 metres at 0.6% Cu from hole NC-2018-01 (Released Feb. 28, 2018)
including:
16m at 1.4% Cu
• *32 metres at 0.3% Cu from NC-2017-01 (Released Dec. 21, 2017) including:
10m at 0.6% Cu
• *85.6 metres at 1.1% Cu from DDH-THU-002 (Released Sept. 7, 2016)
including:
13.8m at 2.71% Cu
* indicates results released previously
Peter Espig, CEO commented, “ Results from the initial stages of drilling at Craigmont
West have been very encouraging and more drilling is clearly necessary for advancing
the project toward establishing a resource and exploring west along strike and at
depth. This drilling has inters ected grades and widths comparable to mineralized
zones mined at the historical Craigmont Mine .” Frank Hogel, Chairman commented,
“It is becoming increasingly clear that this is a very special project and we look forward
to providing an explanation on the ongoing exploration program in a subsequent news
release.”
Exploration Summary
From September 2017 to February 2018, a total of 8 diamond drill holes were drilled at
Craigmont West, totaling 4436.13 metres (Figure 1). The drill holes were planned as a follow-up
to the drilling program Nicola executed in 2016 which intercepted 85.92 metres of 1.11% Cu in
hole DDH -THU-002. Although the intersection in DDH -THU-002 was significant in grade and
width, the mineralized zone in this hole was cut-off by the Emba yment fault and the true-width
potential of the zone could not be evaluated. The objectives of the 2017-2018 exploration
program were to:
• Successfully intersect and define the full width of the mineralized skarn zone, particularly
between historic holes S-100 and DDH-THU-002:
• Test the continuity of the zone to the west and at depth: and
• Gain further understanding of the lithologic sequence and its control on mineralization.
Out of the 8 holes drilled, 6 successful ly intersected skarn mineralization within an
approximately 200-metre long segment of the Craigmont West zone (Table 1), and the final hole
NC-2018-03 intersected the entire width of the zone from 292.7 to 393.3 metres downhole.
The Embayment Fault cuts mineralization where it was exposed in underground development
and displaced the mineralized zone on the west side of the fault to the north by approximately
300 metres. While the underground mine was active, underground development was extended
to within 150 metres of the Craigmont West Zone before low copper prices forced the mine to
close in 1988 and exploration ceased. Exploration of the Craigmont West Zone, which remains
open along strike and at depth has been the focus of the drilling programs executed by the
Company in 2016 and 2017-2018.
Integration of the recent drilling results with historical data is on-going by Nicola’s geological
team. Once complete, a follow -up drill program will be designed to expand the mineralization
zone encountered in the current drill program and test other targets identified within the
Craigmont West Zone.
Table 1. Assay Results for Craigmont West Drilling (reported widths are based on a vertically
dipping zone; however, data is insufficient at this time to reliably determine the orientation of the
mineralized zone).
** Assumes the Craigmont West zone is vertical
Hole ID Azimuth Dip From
(m)
To
(m)
Interval
(m)
Estimated Vertical
Depth from
Surface (m)
**Estimated
True Width
(m)
Cu
(%)
NC-2017-01 30 -70 252.0 261.0 9.0 236.9 - 245.3 3.1 0.3
464.0 468.0 4.0 436.2 - 439.9 1.4 1.1
NC-2017-02 50 -55 300.5 301.9 1.5 246.4 - 247.6 0.8 0.7
NC-2017-03 10 -55 444.0 463.0 19.0 364.1 - 379.7 10.8 0.3
incl. 460.0 463.0 3.0 377.2 - 379.7 1.7 0.8
508.0 526.0 18.0 416.6 - 431.2 10.3 0.4
550.0 554.0 4.0 451.0 - 454.3 2.3 0.8
568.0 574.0 6.0 465.8 - 470.7 3.4 0.8
NC-2017-04 0 -55 438.0 470.0 32.0 359.2 - 385.4 18.2 0.3
incl. 442.0 452.0 10.0 362.4 - 370.6 5.7 0.6
540.0 550.0 10.0 442.8 - 451.0 5.7 0.6
NC-2017-05 No Significant Intercept
NC-2018-01 30 -57 316.3 387.6 71.4 265.4 - 325.6 38.7 0.6
incl. 341.0 357.0 16.0 286.4 - 299.9 8.6 1.3
NC-2018-02 No Significant Intercept
NC-2018-03 357 -59 292.7 393.3 100.6 254.7 - 342.2 50.3 1.33
294.8 335 40.2 256.5 - 291.5 20.1 2.52
294.8 309.8 15 256.5 - 269.5 7.5 5.18
Figure 1. Location map of Nicola’s Craigmont West drilling.
The Craigmont Skarn Zone: East, Central and West
Since beginning drilling in 2016, Nicola has successfully traced the Craigmont Skarn Zone for
approximately 1km west and 2km east of the Craigmont Pit (Figure 2). It is now believed that
this east-west corridor is one continuous mineralized system. Therefore, Nicola has decided to
change the naming convention to Craigmont East, Central and West. The C ompany believes
the revised names are more appropriate for identifying segments along the continuous skarn
alteration and mineralization zone rather than referring to seemingly isolated entities. Craigmont
West extends from NC-2017-04 east to the Embayment Fault. Within Craigmont West lies the
former “Embayment Zone”. Craigmont Central is defined to the west by the Embayment fault
and to the east by the eastern extent of the Craigmont waste dumps. It encompasses the
historic open pit and the majority of historic underground mine workings. Craigmont East
extends eastward from the limit of the Waste Dumps to the Eric showing.
Figure 2. Location and geology of the New Craigmont Property identifying Craigmont East,
Central and West.
Scientific and Technical Information
All information of a scientific or technical nature contained in this document, including sampling,
analytical and test data has been reviewed and approved by Kevin Wells, P. Geo., a consulting
Geologist to the Company. Mr. Wells is a Qualified Person as defined by National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
Sample Preparation, Analysis and Quality Assurance/Quality Control
Nicola Mining applies a thorough quality assurance/quality control program at the New
Craigmont Project compliant with industry best practices . A qualified geoscientist has logged
and sampled all core and samples have been delimited according to lithologic, alteration and
mineralization characteristics. This includes systematic insertion of blank, duplicate, and
certified reference materials into the sample batches by Nicola’s geological staff. Core is then
halved, where the sample is placed in a labelled sample bag with sample tag and the other half
of the core is retained on site as a physical record. Samples are placed in sealed bags and
transported to Actlabs (ISO 17025 Certified) in Kamloops, B ritish Columbia for analysis,
following a Chain of Custody . Samples are crushed up to 80% passing 2mm, rifle split (250 g)
and pulverized to 95% passing 105 µm. Samples are analyzed using Fire Assay (1A2) and
Aqua Regia-ICP -OES 38 -element (1E3) packages. All samples greater than 10,000 ppm
Copper are tested using over -limit mass spectrometry methods (8-AR). All results included in
this release have passed the QA/QC procedures as described above and have been reviewed
by Kevin Wells, P.Geo. There are no known factors that could materially affect the reliability of
data collected and verified. No quality assurance/quality control issues have been identified to
date.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX Venture Exchange and is in the
process of recommencing mill feed processing operations at its 100% owned state-of-the-art
mill and tailings facility, located near Merritt, British Columbia. It has already signed four mill
profit share agreements with high grade gold producers. The fully -permitted mill can process
both gold and silver mill feed via gravity and flotation processes. The Company also owns 100%
of Treasure Mountain, its high-grade silver property, and an active gravel pit that 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
Phone: (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 for the adequacy or accuracy of this
release.