Northwire Canada EditionTuesday, July 28, 2026
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LUG 81.27 +2.4% ETG 2.65 +1.1% ARIC 0.860 +2.4% ABC 0.020 +0.0% WEC 0.010 +0.0% NTB 0.020 +0.0% URC 3.83 −8.2% BEX 0.085 +6.2% SUM 1.32 +0.0% FMN 0.270 +10.2% PHNM 0.405 +12.5% HDRO 1.11 −6.7% PWM 0.620 −1.6% LIO 0.155 +10.7% NTH 0.160 +1.6% ELEF 0.120 −4.0% LUG 81.27 +2.4% ETG 2.65 +1.1% ARIC 0.860 +2.4% ABC 0.020 +0.0% WEC 0.010 +0.0% NTB 0.020 +0.0% URC 3.83 −8.2% BEX 0.085 +6.2% SUM 1.32 +0.0% FMN 0.270 +10.2% PHNM 0.405 +12.5% HDRO 1.11 −6.7% PWM 0.620 −1.6% LIO 0.155 +10.7% NTH 0.160 +1.6% ELEF 0.120 −4.0%
Drill Results

Nicola Mining Announces Plan for 2026 Drilling Exploration at Treasure Mountain Silver Project

By The Northwire Desk — AI Analysis Oct 15, 2025 · 09:01 NIM · 1.03 Nicola Mining Inc.
NIM · Price

Executive Summary

  • Nicola Mining provided a detailed update on preparation work for the Treasure Mountain Silver Project and outlined its planned 2026 exploration drilling program.
  • The company confirmed receipt of a multi‑year area‑based exploration permit (MYAB Permit) and a ten‑year mine lease extension through April 2032, enabling diamond drilling and trenching at Treasure Mountain.
  • Historical work and recent 2025 field reconnaissance indicate surface mineralization of silver, copper, lead, zinc and gold, supporting the initiation of a 2026 drill campaign to test vein width and depth continuity.

Key Details

  • Project Overview: Treasure Mountain is a permitted silver mine located ~30 km NE of Hope, BC; placed in care‑and‑maintenance in 2013 due to low silver prices.
  • Permitting Status:
  • Multi‑year area‑based exploration permit (MYAB Permit) received – authorizes diamond drilling and trenching.
  • Ten‑year mine lease extension secured, now valid through 26 April 2032.
  • Exploration History:
  • 1994: Six percussion holes, total 274 m.
  • 2020: Fourteen “backpack drill” holes, total 25 m.
  • 2019‑2021: Extensive soil sampling and limited rock sampling; results show vein‑hosted Ag, Cu, Pb, Zn, Au.
  • 2025 Field Reconnaissance: Focused on northwest of the suspended mine; identified steeply dipping NE‑SW trending sulphide‑rich quartz veins (10–20 cm wide) with mineral assemblages of sphalerite, pyrite, chalcopyrite. Photographs and 3D magnetic inversion at ~200 m depth documented in Figures 2‑3.
  • 2026 Exploration Drilling Program: Planned to commence drilling on targets defined from airborne magnetic surveys (2012), multi‑year soil sampling, and 2025 reconnaissance; aims to delineate vein width, continuity, and depth extent.
  • Historical Stakeholder Interest: Coeur Mining invested in Nicola in 2012 (12.7 % ownership) at $1.08 per share (adjusted to $20.6 after rollbacks).
  • Management Comment: CEO Peter Espig highlighted renewed investor and strategic interest, emphasizing Treasure Mountain’s status as a fully permitted mine ready for potential reopening.

Notable Quotes

“We continue to review all possibilities and are excited for the 2026 TM Program.” – Peter Espig, Chief Executive Officer & Director, Nicola Mining Inc.

Read the original news release →

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