Nicola Mining Commences Exploration Drilling at Its Flagship New Craigmont Copper Project
Rhea-AI Summary
Positive
- Company has identified five priority exploration targets using AI-based methods
- New undrilled Draken target shows promising porphyry-style alteration and copper oxide minerals
- Comprehensive exploration program planned with 4,000-5,000 metres of diamond drilling
- Previous drilling in 2024 revealed favorable alteration with follow-up potential
Negative
- Significant exploration costs with $1.5-2M budget required
- Results from drilling program won't be available until after September 2025
- No current resource estimates or confirmed mineralization mentioned
News Market Reaction
On the day this news was published, HUSIF declined 1.18%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2025) - Nicola Mining Inc. (TSX: NIM) (OTCQB: HUSIF) (FSE: HLIA) (the "Company" or "Nicola") is pleased to announce commencement of the 2025 Exploration Diamond Drilling Program (the "2025 Program") at its New Craigmont Copper Project ("New Craigmont"), near Merritt, BC.
Exploration Target Generation Activities
Five priority exploration targets (Figure 1), three of which are included in Nicola's 2025 program, have been identified through collaboration in 2025 with ALS Geoanalytics (GoldSpot Discoveries Ltd.; "GoldSpot") using AI-based methods to analyze and correlate geophysical and geochemical data from Nicola's large exploration database.
Figure 1. Locations of the top exploration targets based on analysis of geophysical and geochemical data in 2025 by Goldspot.
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Target A corresponds well with the West Craigmont/WP target area where several holes were drilled in 2024 (see August 30, 2024 News Release). Drilling in 2024 revealed favourable alteration with follow-up potential.
Target B is a new, undrilled target identified by the Goldspot analysis.
Target C corresponds with the MARB/CAS target area where positive results from the 2024 Exploration Program made it a high priority target.
Target D corresponds with the important Titan Queen MINFILE showing. Historic and subsequent drilling and mapping in 2016 support more drilling.
Target E is another new target from the Goldspot analysis that is added to the 2025 Program.
Nicola continues to work with GoldSpot to refine the 2025 Exploration Program that will include collection of X-ray fluorescence (pXRF) and short-wave infrared (SWIR) data under the guidance of GoldSpot to ensure consistent, high-quality data acquisition aligned with New Craigmont's exploration goals. This new data will contribute to the development of exploration targets and improve understanding of skarn and porphyry-style mineralization.
Diamond Drilling Plans
Exploration plans for the 2025 Program include 4,000-5,000 metres of diamond drilling at the MARB/CAS, West Craigmont/WP, and two new target areas generated by ALS GoldSpot (Fig. 2). The purpose of the 2025 Program is to collect geological data for target development for a potential porphyry copper system at New Craigmont. Drill core will provide valuable information on lithology, structure, alteration and mineralization, and multi-element analysis.
Figure 2. Target areas for 2025 drilling Program at the New Craigmont Project.
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Drilling at MARB will follow-up near-surface porphyry-style copper-mineralization with holes designed to test a vertical mineralization trend at depth. Near surface skarn at CAS discovered in 2024 is characteristic of mineralization observed in the Embayment Zone. Additional drilling in the 2025 Program will investigate potential continuity along trend between MARB, CAS and the Embayment Zone.
Draken is a high-priority, undrilled target consisting of a cluster of copper showings discovered from Nicola's field program in 2023 (Figure 2). Outcrops of Guichon Border Phase quartz diorite contain porphyry style quartz-feldspar veinlets with weak copper oxide minerals. Exposures at Draken exhibit some of the best-developed porphyry-style alteration documented on the New Craigmont property, and the target also coincides with high resistivity and high chargeability geophysical response.
Figure 3. Outcrop at the newly discovered Draken showing displaying several sets of quartz-K Feldspar +/- epidote veins with some of the veins containing copper oxide (inset), all of which are common features of a porphyry system.
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Summary
Nicola's objective for 2025 is to continue to target for porphyry systems by conducting the following:
Acquire an enhanced suite of geochemical data for more targeting studies with GoldSpot
Expand the extent of mineralization observed at the MARB and CAS targets
Test two new targets at West Craigmont, including Draken
Test two new targets generated by GoldSpot in the centre of the property
The estimated budget for the 2025 Program is
The Company will provide a separate news release on exploration at its high-grade silver Treasure Mountain Project.
Qualified Person
The scientific and technical disclosure included in this news release have been reviewed and approved by Will Whitty, P.Geo., who is the Qualified Person as defined by NI 43-101. Mr. Whitty is Vice President, Exploration for the Company.
About Nicola Mining
Nicola Mining Inc. is a junior mining company listed on the TSX-V Exchange and Frankfurt Exchange that maintains a
The Company owns
On behalf of the Board of Directors
"Peter Espig"
Peter Espig
CEO & Director
For additional information
Contact: Peter Espig
Phone: (778) 385-1213
Email: info@nicolamining.com
URL: www.nicolamining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256097
FAQ
What is Nicola Mining's 2025 exploration plan for the New Craigmont Copper Project?
How did Nicola Mining (HUSIF) identify its exploration targets at New Craigmont?
What is significant about the Draken target at Nicola Mining's New Craigmont project?
What technology is Nicola Mining using for its 2025 exploration program?
When will Nicola Mining (HUSIF) complete its 2025 drilling program at New Craigmont?
