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NNX 0.035 +0.0% ABX 51.82 −0.8% TTS 2.50 +0.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 22.90 +10.1% TUNG 1.72 +1.8% LGO 1.00 −3.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.40 −0.5% SGZ 0.045 +0.0% S 0.160 +33.3% GRSL 0.310 −3.1% DEX 0.390 +1.3% WMS 0.040 +0.0% NNX 0.035 +0.0% ABX 51.82 −0.8% TTS 2.50 +0.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 22.90 +10.1% TUNG 1.72 +1.8% LGO 1.00 −3.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.40 −0.5% SGZ 0.045 +0.0% S 0.160 +33.3% GRSL 0.310 −3.1% DEX 0.390 +1.3% WMS 0.040 +0.0%
Drill Results Routine +

Nicola Mining Commences Exploration Drilling at Its Flagship New Craigmont Copper Project

Nicola Mining Commences Drilling at New Craigmont as Milling Revenue Funds Exploration

By The Northwire Desk — AI Analysis Apr 28, 2026 · 09:01 NIM · 0.79 Nicola Mining Inc.
Executive Summary

Executive Summary of Recent Activity

  • Latest Event: On April 28, 2026, Nicola Mining announced the commencement of its 2026 Exploration Diamond Drilling Program at the New Craigmont Copper Project.
  • Target Focus: The program targets the "Jotun" resistivity anomaly identified via a previous ZTEM survey, located north of the historical Craigmont open pit.
  • Budget & Scope: The exploration budget is estimated at $1.5 million USD, covering diamond drilling, soil sampling, and geophysical surveys (Mobile MT).
  • Timeline: Drilling is expected to conclude in early June 2026, followed by a program at the Treasure Mountain silver project.
  • Contractor: Dorado Drilling Ltd. has been engaged for the work.
Material Impact

Evaluation of News Significance

  • Expected Nature: The commencement of drilling was anticipated following the $1.5 million budget announcement and the April 2026 financing close. It represents execution rather than a new strategic pivot or discovery.
  • Market Reaction Context: The stock has declined from its February high ($1.30) to current levels ($0.79). While drilling is positive for exploration companies, without assay results (which will take months), the immediate material impact on valuation is limited.
  • Capital Deployment: The news confirms that management is deploying the recently raised capital into value-creation activities rather than holding cash or paying down debt unnecessarily. This supports operational confidence but does not alter the fundamental risk profile of an early-stage copper project.
NIM · Price
Company Overview

Core Business Model

  • Primary Revenue: Third-party milling services at the Merritt Mill (BC), processing gold/silver concentrate for partners like Blue Lagoon and Talisker.
  • Flagship Project: New Craigmont Copper Project near Merritt, BC. This is a historic high-grade copper deposit adjacent to Teck Resources' Highland Valley Copper mine.
  • Secondary Assets: Treasure Mountain Silver Mine (permitted but in care-and-maintenance), Dominion Creek Gold Property (bulk sample stage).
Read the original news release →

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