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Nicola Mining Commences 2017 Exploration Program at New Craigmont Property
VANCOUVER, B.C., Oct. 03, 2017 (GLOBE NEWSWIRE) -- Nicola Mining Inc. (TSX-V:NIM) (the “Company”) is pleased to announce that it has commenced its 2017 Explorat
About this update from Nicola Mining Inc.
[{"type":"text","content":"VANCOUVER, B.C., Oct. 03, 2017 (GLOBE NEWSWIRE) -- Nicola Mining Inc. (TSX-V:NIM) (the “Company”) is pleased to announce that it has commenced its 2017 Exploration Program (the “2017 Program”). The Company owns 100% of the New Craigmont Property, also referred to as Thule Copper, which is located adjacent to Highland Valley Copper and the site of the historic Craigmont Mine. The 2017 Program will focus on the following: Diamond drilling of the Embayment Zone Induced Polarization Survey (“IP Survey\") over the Titan Queen Zone Diamond Drilling of the Titan Queen Zone, subject to IP Survey Continued exploration over Promontory Hill The Company has already commenced diamond drilling exploration on the Embayment Zone, as well as preparation for the Titan Queen IP survey. High-potential IP Survey and mapping results, as announced on July 24, 2017, have encouraged the Company to continue to examine Promontory Hill. In addition to high-potential exploration targets, the Company recently announced positive results in its reverse circulation drill program, (“RC Program”) that was announced in its September 26, 2017 news release. The Company expects to expand its RC Program on the approximate 80 – 90 million tonnes of mining waste piles in the future. EMBAYMENT ZONE: The Embayment Zone is believed to be a fault-offset, westward continuation of the skarn zone that hosts the Craigmont deposit, which, during its operations, mined and milled 34 million tonnes of 1.28% copper and had a cutoff grade of 0.7% Cu. The non-NI 43-101 compliant 1985 Bristow Report on the Craigmont Mine site highlights the potential of the Embayment Zone, which has shifted northward due to faulting. It appears to be part of the same skarn system that would connect the original mine and the Promontory Hill skarn mineralization (see Diagram 1: Bristow Map). In 2016, the Company, due to a limited budget exploration program, successfully drilled one hole into the Embayment Zone. The hole, THU-002 is one of the top copper intersections in British Columbia in recent years, grading 1.11% over 85.92 metres, as announced in a September 7, 2016 news release. On January 23, 2017, the Company announced the results of a resampled Embayment Zone hole, S-100 that graded 0.54% over 116.7 metres and in...