- The phase 1 program consisted of five diamond drill holes for a total of 1459.65 meters
- CC-21-78 intersected 11.5m grading 2.19% Cu within 71.5 m grading 0.38% Cu
- CC-21-79 intersected 71.35 m grading 0.29% Cu within 130.35m grading 0.21% Cu
- The New Craigmont Property is located 33 km south of the world-class Highland Valley porphyry district
- Nicola Mining Inc. is a junior mining company
- Nicola Mining Inc. (NIM) opened trading at C$0.095 per share
Nicola Mining (NIM) is pleased to provide an exploration update on its New Craigmont property.
2021 Phase I exploration program
The phase 1 program consisted of five diamond drill holes for a total of 1459.65 meters.
The first three holes (CC-21-76, CC-21-77, and CC-21-78) were drilled at Target 1 and the final two holes (CC-21-79, and CC-21-80) were drilled at Target 2. Holes CC-21-76 and CC-21-77 were drilled into the large magnetic anomaly west of the pit, which intersected the Guichon Creek Border Phase diorite and contained abundant locally disseminated magnetite with disseminated pyrite and locally intense epidote and chlorite alteration.
The third hole (CC-21-78) was drilled to the south, outside and along, the periphery of the magnetic anomaly where it intersected Nicola Group sediments that contained mineralized skarn intervals containing massive chalcopyrite, magnetite, and pyrite mineralization within strongly altered calcareous sediments.
Holes CC-21-79, and CC-21-80 were drilled at Target 2 and intersected strongly chlorite altered diorite on the northeast pit margin that contained massive magnetite hosted in fractures and present with clots and disseminated chalcopyrite.
2021 phase II exploration program
The company is currently awaiting approval from EMLI for its Multi-Year Area Based (MYAB) permit submitted earlier this year, which will allow the company to explore several mineral showings and prospects to depth. In the meantime, a core relogging program is underway in conjunction with alteration surface outcrop mapping and sampling.
2021 phase I drilling highlights
- CC-21-78 intersected 11.5m grading 2.19% Cu within 71.5 m grading 0.38% Cu demonstrating the mineralized potential in a largely untested area between the Craigmont pit and previous intercepts (DDH-THU-002: 85.6m at 1.11% Cu and NC-2018-03: 100.6m grading 1.33% Cu) approximately 800 m to the west of historic mining operations.
- CC-21-79 intersected 71.35 m grading 0.29% Cu within 130.35m grading 0.21% Cu, whereby showing the mineralized potential not recovered during historic mining operations.
Nicola Mining Inc. is a junior mining company that maintains a mill and tailings facility, located near Merritt, British Columbia.
It is comprised of four key assets:
- A $30.0 million-plus modern mill facility that is held freehold and is the only site permitted to process material province-wide.
- 100 per cent ownership of the historic Craigmont Copper Mine located in southern British Columbia.
- 100 per cent ownership of Treasure Mountain, a high-grade silver mine located in southern British Columbia.
- 75 per cent economic interest in the high-grade Dominion Creek Project gold project.
Nicola has been conducting mineral exploration on the New Craigmont Project since November 2015. New Craigmont is a wholly-owned copper property with an active mine permit (M-68), located 33 km south of the world-class Highland Valley porphyry district. The property is located adjacent to the southern end of the Guichon Creek Batholith, which hosts the Highland Valley copper deposits.
Nicola Mining Inc. (NIM) opened trading at C$0.095 per share.
