Nicola Mining Inc. [NIM-TSXV; HUSIF-OTC] has provided an exploration update for its 2021 exploration phase I drill program on its 100%-owned New Craigmont property near Merritt, southern British Columbia.
The focus of phase I was to test targets defined by magnetic anomalies located lateral and adjacent to the historic Craigmont copper mine. Results from phase I drilling have recently been received from Actlabs.
The focus of the phase I program was to drill test two magnetic anomalies. Magnetic vector inversion modelling suggested a magnetic anomaly adjacent to the western margin of the Craigmont pit. A second target included a surface outcrop containing copper and iron mineralization with a coincident magnetic anomaly extending to depth on the northeast margin of the historic Craigmont pit.
The phase 1 program consisted of five diamond drill holes for a total of 1459.65 metres. 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 multiyear 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 under way in conjunction with alteration surface outcrop mapping and sampling.
2021 phase I drilling highlights include:
CC-21-78 intersected 11.5 metres grading 2.19% copper within 71.5 metres grading 0.38% copper, demonstrating the mineralized potential in a largely untested area between the Craigmont pit and previous intercepts (DDH-THU-002: 85.6 metres at 1.11% copper and NC-2018-03: 100.6 metres grading 1.33% copper approximately 800 metres to the west of historic mining operations.
CC-21-79 intersected 71.35 metres grading 0.29% copper within 130.35 metres grading 0.21% copper, whereby showing the mineralized potential not recovered during historic mining operations.
Nicola Mining maintains a 100%-owned, +$30 million mill and tailings facility adjacent to the New Craigmont property. The company also has a 100% interest in the Treasure Mountain project, a high-grade silver mine, also located in southern British Columbia and a 75% economic interest in the high-grade Dominion Creek gold project.