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Nicola Mining Provides Exploration Updates for New Craigmont and Treasure Mountain Projects and Operational Update for Merritt Mill
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2022) - Nicola Mining Inc. ( TSXV: ...
About this update from Nicola Mining Inc.
[{"type":"text","content":"Nicola Mining Provides Exploration Updates for New Craigmont and Treasure Mountain Projects and Operational Update for Merritt MillVancouver, British Columbia--(Newsfile Corp. - January 20, 2022) - Nicola Mining Inc. (TSXV: NIM) (FSE: HLI), (the \"Company\" or \"Nicola\") is pleased to provide a preliminary 2022 exploration plan (\"2022 Exploration Plan\") on its New Craigmont Project, as well as provide a summary of 2021 exploration activities at both its New Craigmont Project and Treasure Mountain Project, both of which are wholly-owned. In addition to exploration summaries, the Company will also provide a brief operational update on its wholly-owned Merritt Mill. Exploration Plans for 2022The Company has contracted Geotech Ltd. to perform a 998-line kilometer Z‐Tipper Axis Electromagnetic survey (\"ZTEM Survey1\") across the entire New Craigmont Project, which is scheduled to be completed in the late spring of 2022. Geotech Ltd.'s proprietary deep penetrating ZTEM survey will probe for new untested conductive and resistive targets. The historic Craigmont deposit is a high-grade Cu-Fe skarn deposit that previously produced approximately 34Mt grading 1.3% Cu. The ZTEM survey will probe for potential fluid sources that precipitated the copper that was previously extracted. As skarns are known to be genetically and temporally related to porphyry deposits, the Company will be examining for this potential.Results from the ZTEM Survey are expected to be received by early summer. After reviewing ZTEM Survey results, the Company will conduct surface mapping and sampling programs, as well as evaluating the potential for future induced polarization surveys2 (\"IP Survey\"), which may be used to follow up any geophysical anomalies identified from the ZTEM Survey.By paying close attention to the alteration mineralogy and alteration sequences and combining results from the ZTEM Survey, mapping, sampling and IP Surveys, Nicola hopes to identify several diamond drill exploration targets. Nicola has already submitted a multi-year area-based (\"MYAB\") application to the Ministry of Energy, Mines and Low Carbon Innovation (\"EMLI\"). The MYAB, which covers subsections of the Property, will allow the Company to conduct exploration for five years, upon approval.Exploration UpdatesNew CraigmontFollowing the Phase l Exploration Program in 2...