2017-10-03 09:18 ET - News Release Nicola Mining - 500 Beiträge pro Seite

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Auf dem Gebiet der New Craigmont Property (Neuer Felsberg Liegenschaft) auch bekannt unter Thule Kupfer, welches an Highland Valley Copper und der historischen Craigmont Mine angrenzt, wird ein neues Bohrprogramm mit Bodenuntersuchungen gestartet. Dies basiert auf den Ergebnissen von der induzierten Polarisation (IP) die hochgradig auf Kupfer hindeuten.
Des Weiteren wird das Rückwärts-Bohrgramm auf dem altem Abraum der 70er/80er Jahre fortgeführt (Siehe Veröffentlichung 26.09.2017), da hier heutzutage leicht abbaubare Kupferkonzentrationen von bis zu 1,3% vorliegen dürften, die vor 30-40 Jahren nicht wirtschaftlich extrahiert werden konnten.


Mr. Peter Espig reports

NICOLA MINING HAS COMMENCED 2017 EXPLORATON PROGRAM

Nicola Mining Inc. has commenced its 2017 exploration program. The company owns 100 per cent 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 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, that was announced in its Sept. 26, 2017, news release. The company expects to expand its RC program on the approximate 80 to 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 per cent copper and had a cutoff grade of 0.7 per cent Cu. The non-National-Instrument-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. 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 per cent over 85.92 metres, as announced in a Sept. 7, 2016, news release. On Jan. 23, 2017, the company announced the results of a resampled Embayment zone hole, S-100, that graded 0.54 per cent over 116.7 metres and included 0.92 per cent over 62 metres. Hole S-100's collar is 65 metres southeast of THU-002 and intersects the mineralized zone at 1220 metres RL, the same elevation as THU-002.

The goal of the 2017 program in the Embayment zone hopes to accomplish the following:

Garner better understanding of depth extent of mineralization, which is currently open;
Expand the zone northwestward.
The company has received permitting to conduct a multihole program on the Embayment zone using 34 drill pad locations.

The Craigmont zone was mined through pit and underground operations to the Embayment zone. The Embayment section moved northwards along the Embayment fault.)
The Embayment zone is the link between targets one and three (Promontory Hill) in a map available at the company's website, and appears to exhibit mineralization like the Craigmont deposit. Historically, this area was targeted as the Craigmont mine's highest-priority exploration target.
Titan Queen zone

The Titan Queen zone is located within the Guichon batholith lithology, which is the host of the Highland Valley copper deposit. Its molted magma pattern along with the presence of epidote-chlorite veining is characteristic of the copper porphyry deposits, such as seen in Guichon batholith border phase. The Titan Queen prospect is approximately 700 metres north of the historic Craigmont skarn deposit mine pit. In a Nov. 1, 2016, report written by Fionnuala Devine, the surface expression of the magnetite-chalcopyrite domain is 500 metres by 150 metres. This coincides with the 2012 Heli-GT airborne geophysics survey conducted by Scott Hogg & Associates Ltd. (Hogg) in June of 2012.

The company plans to conduct an IP survey over the Titan Queen zone to examine the conductivity, chargeability and resistivity of the zone. The IP survey will provide valuable insight into the source and depth of the anomaly. Upon review the company will evaluate the merit of a drill program, which it is also permitted to conduct.

Promontory Hill zone

Following up on a November, 2016 review of historical geophysics conducted by Jules Lajoie, PhD geophysics, and an IP survey conducted by Scott Geophysics Ltd., which was announced in the July 24, 2017, news release, the company plans to conduct an additional survey line to the south of the 5562700N line. The survey line is expected to expand the anomaly southwards and provide clarity for drill hole locations. The company is working on defining a drill program over this area and expects to submit a permit application in the near future to evaluate the never-drilled newly-discovered anomaly. The Frontier 3-D chargeability inversion survey highlights an anomaly approximately 150 metres below surface.

Qualified person

Kevin Wells, PGeo, a consulting geologist to the company, is the independent qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects for the technical disclosure contained in this news release. The scientific and technical content of this press release was reviewed by Chris LeClair, GIT, an employee of the company and verified by Mr. Wells, PGeo

Several figures that accompany this news release can be accessed by viewing the original document.

About Nicola Mining Inc.

Nicola Mining is a junior mining company listed on the TSX Venture Exchange, and has a fully permitted 200-tonne-per-day custom mill that recommenced operations in June 2016. Its 100-per-cent owned state-of-the-art mill and tailing facility, located near Merritt, B.C., is capable of processing both gold and silver mill feed via gravity and flotation processes. The company has 100 per cent of the Thule copper property covering 10,084 hectares along the southern end of the Guichon batholith. In addition, the company also owns 100 per cent of Treasure Mountain, its high-grade silver property, and a gravel pit, which is located adjacent to its milling operations.

© 2017 Canjex Publishing Ltd. All rights reserved.

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