Nicola Mining Drills 53.0 Metres of over 1.0% Copper and Confirms near Surface Copper in MARB / CAS Zones
Nicola Mining Drills 53.0 Metres of over 1.0%
Copper and Confirms near Surface Copper in
MARB / CAS Zones
Vancouver, British Columbia--(Newsfile Corp. - February 20, 2025) -
Nicola Mining Inc.
(TSX: NIM)
(OTCQB: HUSIF) (FSE: HLIA)
(the "
Company
" or "
Nicola
") has completed drilling (totaling 4874m
and 14 holes; Table 1) and is pleased to provide updates on its highly successful 2024 Drilling
Exploration Program (the "
2024 Program
")
1
at its New Craigmont Copper Project, near Merritt, BC.
Intervals of significant copper mineralization are presented in Table 2.
Table 1. 2024 Drill Holes*
Hole ID
Easting
Northing
Elevation (m)
Azimuth (°)
Dip (°)
End of Hole (m)
WP-24-001
642289
5565271
1362
0
-75
377.93
WP-24-002
642289
5565271
1362
270
-45
207.25
WP-24-003
642256
5564903
1377
355
-45
658.00
WP-24-004
642268
5564904
1378
110
-45
211.22
WP-24-004A
642268
5564904
1378
110
-45
374.89
MB-24-001
644977
5565105
1437
35
-55
402.43
MB-24-002
644977
5565105
1437
325
-55
252.98
MB-24-003
645113
5565129
1460
210
-60
323.07
MB-24-004
645113
5565129
1460
35
-60
276.76
MB-24-005
645848
5564858
1529
180
-60
399.29
MB-24-006
645113
5565129
1460
265
-67
119.01
MB-24-006A
645113
5565129
1460
265
-67
121.92
NC-24-001
646680
5564179
934
205
-60
594.36
NC-24-002
646680
5564179
934
185
-58
554.71
*Collar coordinates approximate based on handheld GPS (NAD83, Zone 10), and will be professionally surveyed in 2025 when the snow melts.
Table 2. Significant Drill Hole Intervals
Hole ID
Interval (m)
Grade
From (m)
To (m)
MB-24-001
40.5
0.10% Cu
52.5m
93.0m
Includes: 9.48m @ 0.34% Cu
MB-24-004
28.3
0.11% Cu
18
.
3m
46.7m
Includes: 10.86m @ 0.23% Cu
NC-24-001
56.6
0.17% Cu
313.7m
370.3m
Includes: 33.8m @ 0.23% Cu
75.0
0.36% Cu
404.0m
479.0m
Includes: 10m @ 0.97% Cu and
Includes: 12m @ 0.85% Cu and
NC-24-002
52.9m
1.03%
344.1m
397.0m
Includes: 13.0m @ 3.46% Cu
Note:
Detailed results on Company website.
New Craigmont Copper Project 2024 Exploration
The first phase of the 2024 Program at the never-before-drilled
West Craigmont-WP
target totaled
~1829.70m (5 holes, 1 of which was a twin/redrill, Fig. 1) with initial findings reported in the
August 30,
2024 Operations and Exploration Update
. Observations suggest a porphyry system; however, additional
geological analysis and drilling will be required to establish potential in the area.
Figure 1. Collar locations of 2024 drilling Program at the New Craigmont Project.
To view an enhanced version of this graphic, please visit:
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Upon completion of the first phase, drilling commenced at the unexplored
MARB-CAS
Zones. Drilling is
aimed to understand geology and assess mineralization potential beneath two mineralized outcrops,
one at the MARB Zone and another at the CAS Zone.
Mineralization directly below the MARB outcrop is composed of chalcopyrite, pyrite, and pyrrhotite,
which occurs as fine disseminations and narrow veins distributed within both intrusive and volcanic rock
units. During the 2024 Program, six drill holes (MB-24-001, MB-24-002, MB-24-003, MB-24-004, MB-
24-006 and MB-24-006A; Fig. 1) totaling 1500m were drilled in the vicinity of the MARB outcrop to
explore near-surface mineralization and to develop deeper mineralization targets. Below is a summary
of each hole:
Drill Hole MB-24-001
: Drilled from a pad southwest of the MARB outcrop (Fig. 2) to test for near-
surface mineralization below the MARB outcrop. The hole intersected encouraging chalcopyrite-pyrite
mineralization in near vertical narrow veins from about 52.5m to 93.0m, returning an average of 0.10%
Cu over 40.5m (Table 2). Mineralization is hosted in basaltic andesite with minor diorite and white felsic
dykes (Fig. 3a and 3b) and includes a 9.48m interval of 0.34% Cu, from 52.52m to 62.00m (Fig. 2; Table
2).
Drill Hole MB-24-002
: Drilled from the same pad as MB-24-001, towards the northwest, MB-24-002
intersected similar (but weaker) mineralization of narrow chalcopyrite-pyrite veinlets within the first 100
metres (Fig. 3c).
Drill Hole MB-24-003
: Positioned approximately 150 metres east of the MARB outcrop and drilled to
the south-southwest, this hole encountered weak, intermittent mineralization within the first 100 metres
hosted in basaltic andesite with chalcopyrite in narrow sulphide veins (Fig. 3d).
Drill Hole MB-24-004
: Drilled from the same pad as MB-24-003 but to the northeast (Fig. 2), this hole
intersected discontinuous chalcopyrite mineralization from 18.34m to 46.66m returning an average of
0.11% Cu over 28.32m (Table 2) in veinlets and brecciated zones with epidote and chlorite alteration
and includes a 10.86m interval of 0.23% Cu.
Drill Holes MB-24-006 and MB-24-006A
: These holes, drilled from the same pad as MB-24-003 and
MB-24-004, targeted the mineralization beneath the MARB outcrop but both were lost at about 120
metres depth due to a clay-filled fault. Shallow sections were weakly mineralized basaltic andesite with
chalcopyrite and pyrite occurring as veins or disseminations associated with epidote and chlorite.
Figure 2. Cross section of 2024 drilling Program at MARB.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/241567_figure2.jpg
The
CAS
mineralized outcrop features pyrite and chalcopyrite mineralization associated with garnet-
epidote-magnetite-actinolite skarn. This outcrop is the Guichon Creek Batholith and is situated just north
of the contact between the batholith and Nicola Group rocks. Drill Hole MB-24-005 was the only hole
drilled in 2024 to test the mineralization potential around the CAS mineral showing.
Drill Hole MB-24-005:
Positioned on a pad 35 metres north of the CAS outcrop, MB-24-005 was
designed to explore the rocks directly beneath the CAS outcrop. At a shallow depth of 15 metres, the
hole intersected narrow veinlets of chalcopyrite along with phyllic alteration halos hosted by Border
Phase Diorite (Fig. 3e). Between 75.6 and 210.5 metres, the hole encountered intermittent epidote-
magnetite-diopside-actinolite skarn where sulphide minerals (pyrite and chalcopyrite) were observed
replacing magnetite (Fig. 3f). The protolith of the skarn encountered in this hole is interpreted as either
diorite or basaltic andesite.
Figure 3. Representative core samples from 2024 drilling campaign at MARB and CAS: a. semi-
massive chalcopyrite mineralization hosted by basaltic andesite from MB-24-001; b. veinlets of
chalcopyrite from hole MB-24-001; c. mineralization of chalcopyrite occurring along the contact between
basaltic andesite and a felsic dyke from MB-24-002; d. chalcopyrite veinlets hosted by basaltic andesite
from MB-24-003; e. chalcopyrite veinlets along with phyllic alteration hosted by Border Phase Diorite
from MB-24-005; and f. chalcopyrite replacing magnetite within epidote-magnetite-actinolite skarn from
MB-24-005.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/241567_0e769922d46fe850_006full.jpg
The holes completed at MARB-CAS have improved our understanding of the distribution of
mineralization and alteration and will contribute to targeting of subsequent drill holes.
Nicola recently completed two holes (NC-24-001 and NC-24-002, Fig. 4), at the Embayment Zone.
Results both extend and better define the Embayment Zone. Examples of mineralized cores are
presented in Figure 5.
NC-24-001
was drilled to test the westward extension of the high-grade copper skarn in the Embayment
Zone. This drill hole encountered notable skarn-hosted copper mineralization across two intervals: 56.6
meters 0.17% Cu of (313.68m to 370.30m) and 75.0 metres of 0.36% Cu (404.00m to 479.00m) see
Table 2. Within these mineralized zones, particularly high-grade copper mineralization was identified in
three key intervals including 33.8m of 0.23% Cu, 10.0m of 0.97% Cu and 12m of 0.85% Cu.
NC-24-002
: Drilled as an infill hole between two existing drill holes (NC-18-001 and DDH-THU-002),
with approximately 20-metre spacing at the target level. This hole also aimed to test the mineralization's
depth extension along the dip. This drill hole intersected significant skarn-hosted copper mineralization
between 344.10m and 397.00m grading 1.03% Cu over the 52.90m interval (Table 2). Included in this
interval is 13m of 3.46% Cu.
Figure 4. Cross section (200m thick) showing NC-24-001 and NC-24-002 (with older and historic holes)
intersecting the Embayment Zone.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/241567_figure4.jpg
Figure 5.
Examples of intense chalcopyrite mineralization encountered in 2024 Embayment Zone drill
holes: a. NC-24-001: 412.63m; b. NC-24-001: 431.20m; c. NC-24-002: 360.15m; and d. NC-24-002:
367.75m.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/241567_figure5.jpg
Peter Espig, CEO of Nicola Mining Inc., commented, "The 2024 Program has been the most successful
exploration program conducted at the Craigmont Project since the 1960's.
We are extremely excited
about the significant copper findings in the MARB / CAS Zones, which have never seen copper-focused
exploration since the early 1960s.
Our goal was to drill shallow holes to confirm the existence of copper
mineralization prior to drilling deeper targets; this has been accomplished.
The findings of near surface
chalcopyrite and the existence of faults and dykes within Guichon host rock, not only provides an ideal
environment, but also reinforces that Craigmont mineralization is associated with a much larger copper
system and indifferent to host rock.
In addition, exploration near the Embayment Zone, expanded the
Zone and provided high-grade long-interval intercepts."
Conclusions and Recommendation for 2025 Drilling:
The
MARB-CAS
portion of the 2024 Program successfully intersected near surface mineralization
beneath the MARB outcrop, leaving it open at depth and to the west for future drilling. Figure 2 illustrates
a proposed hole (in turquoise) for a follow-up program to be conducted in 2025. A drill hole collared
southwest of the MARB outcrop and angled to the northeast will target deeper mineralization beneath the
MB-24-001 2024 intercept. Another proposed hole will test for mineralization extending to the southwest.
The dashed turquoise line in Figure 2 marks the trace of holes MB-24-006/6A, which were lost. Re-
drilling these holes in 2025 is an option to test for mineralization along strike from the CAS outcrop.
Skarn discovered at
CAS
in the 2024 Program has an identical mineral assemblage to that of the
Embayment Zone, suggesting it may be continuation of the Embayment Zone skarn, potentially
displaced northward by a dextral fault (Fig. 6). MB-24-005 deviated out of the skarn, crossing a fault and
into unmineralized diorite to the west. For 2025, proposed drilling includes a hole from the same pad as
MB-24-005, aimed southeast, toward the Nicola side of the lithology contact. This hole targets exoskarn
within the Nicola Group rocks, tracing it deeper and to the east towards the Embayment Zone (Fig. 6).
The
WP
showing (Fig. 1) is a historic trench with significant malachite and chalcopyrite mineralization,
which remains a high-priority drilling target. Given its mineralization potential, drilling towards the WP
showing should be included in the 2025 drilling campaign. As the mineralized fault within the historic
trench is steeply dipping and north striking, it is recommended to drill from east to west.
Figure 6. Proposed drill hole near the CAS mineral showing targeting the exoskarn within the Nicola
Group Rocks.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4873/241567_0e769922d46fe850_026full.jpg
Quality Assurance and Quality Control (QA/QC)
Nicola maintains tight sample security, and quality assurance and quality control (QA/QC) for all aspects
of its exploration Program. Geological work, and sample selection and preparation for transport was
supervised by Nicola's Senior Geologist Kairan Liu (P. Geo.) and VP Exploration William Whitty (P.
Geo.), who were on site the entire Program. All NQ and HQ-sized core samples from 2024 were logged,
photographed and sampled on site by staff or consulting geologists and geotechnicians. Sample sizes
ranged from approximately 0.5m - 2m in length depending on geological features. Core was sawed in
half lengthwise, with one half going into a poly sample bags, and the other half going back into the box to
be stored on site. Sample identification tags with unique sample numbers were placed in each bag, and
bags were zip-tied closed. There were no markings on the bag or tag identify the location of the sample.
The samples were packed into rice bags and transported from site by Nicola staff or contractors to
Activation Laboratories Ltd.'s (Actlabs) ISO 17015 accredited lab in Kamloops, BC for preparation
(crushing and pulverizing) and analyzed for 38-element ICP-OES by aqua regia (partial) digestion with
specified limits (method code 1E3). Company protocols include the insertion of quality control (QC)
samples consisting of Certified Reference Materials (CRMs), blanks and duplicates into the sample
stream at a rate of 1 of each control sample for every 20 regular samples.
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
and supervised the preparation of,
and has reviewed and approved the technical information in this release.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX-V 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 BC-based 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 property that hosts historic high-grade
copper mineralization and 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.
1
Company announced 2024 Exploration Program in a July 3, 2024,
news release
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/241567