It Could Be a Hot Summer for Nicola!
Based on a new 3D IP survey on its Craigmont copper project near Merritt, British Columbia, Nicola Mining (TSX.V: NIM, FSE: HLI, WKN: A14T7S) has begun 5,000 m of exploration drilling. The detailed measurements over an area of 6.5 km² have defined two main exploration areas: the MARB-CAS zone and the West Craigmont zone (Figure 1).
Both targets are located just a few kilometers west of the historic Craigmont copper mine, which was among the highest-grade producing copper mines in North America between 1961 and 1981. Copper property of Nicola Mining extends over a total area of more than 10,800 hectares and borders Highland Valley Copper, Canada’s largest open-pit copper mine.
Peter Espig, Chief Executive Officer, commented: “The 3D IP survey has confirmed and further defined the key targets. The combination of numerous geotechnical parameters, including mapping, airborne electromagnetic survey, ZTEM and mapping, with the 3D IP survey makes us very confident that we can conduct a successful program.”
The planned exploration drilling will primarily focus on the West Craigmont zone. Later in the summer, there is also the possibility of drilling at MARB/CAS (Figure 2).
Conclusion: Since Peter Espig took over Nicola Mining as CEO in 2016 and saved it from impending insolvency, the company has never drilled as much and as targeted as this year in any season. Thanks to cash flow from other business segments, the cash position even allows for the drilling to be undertaken without a preceding capital increase. The preparations for the upcoming 5,000 m of drilling were extremely detailed. The new targets have been geophysically analyzed with all available tools. All drill targets are virtually within throwing distance of the historic Craigmont copper mine, and once again the old saying could prove true that new mines are found in the shadow of the headframe of historical mines. A sustained drilling success on one or perhaps even several of the newly defined targets could suddenly thrust Nicola into the spotlight, because unlike most of its competitors, Nicola already has a mining license. The proximity to Highland Valley should do the rest to spark investor interest. It promises to be an exciting summer for Nicola. Goldinvest.de will closely follow the developments.
