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Nicola Mining Announces 2021 Exploration Objectives at New Craigmont Copper Project
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2021) - Nicola Mining Inc. (TSXV...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Announces 2021 Exploration Objectives at New Craigmont Copper ProjectVancouver, British Columbia--(Newsfile Corp. - January 18, 2021) - Nicola Mining Inc. (TSXV: NIM) (the \"Company\" or \"Nicola\") is pleased to provide a 2021 exploration outline at its wholly-owned New Craigmont Copper Project, located near Merritt, BC, and 33 km south of the Highland Valley Copper porphyry district. In 2020, the Company filed for a multi-year area-based (\"MYAB\") exploration permit that would allow it to move forward on a five-year exploration plan. Additional to the MYAB application, the Company continues to actively integrate historic data into its geological models. The ongoing desktop work is expected to improve the quality and accuracy of the \"target development\" and \"target confirmation\" stages of its exploration pipeline approach.The 2021 program (\"2021 Program\") includes up to 21 drill holes (8520 metres1), five new trenches and the reactivation of 6 historic trenches.Diamond drilling will focus on testing the contact aureole between the Guichon Creek Batholith and the Nicola Group along an extensive alteration corridor in areas displaying an anomalous magnetic response, interpreted to be semi-massive magnetite-chalcopyrite mineralization. The 2021 season will comprise of two phases of drilling, with the second phase contingent on the results of phase one. A trenching program is aimed at developing three target areas where copper occurrences have been observed but not drill tested. Favorable results these trenches may be followed up by a small drill program to test the depth extent of mineralization encountered at surface.PHASE ONEDrilling Exploration:The first phase of drilling is designed to test four target areas (Figure 1), with the best results being followed up in phase two.Target \"A\"A magnetic anomaly along strike to the east of the Craigmont Open Pit. Semi-massive magnetite-chalcopyrite skarn outcrops east of the Open Pit. The target is located at a depth of ~200m, adjacent to historic underground mine workings. Two 200 m long diamond drill holes will test this magnetic bulb near a diorite plug.Target \"B\"Magnetic Vector Inversion modelling of airborne magnetic data suggests a magnetic body with approximate dimensions of 700 m west, 50 m north, and is located ~300 m below surface. Holes THU-002 (85.92m ...