# Nicola Mining Commences First-Ever Drill Program at Treasure Mountain's MB Zone and Reports Intense Mineralization Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6 Original source: https://money.tmx.com/en/quote/NIM/news/5745976949641198/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone- Publisher: tmx Original announcement: 2026-09-18T13:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-22T10:24:58.654Z Atlas analysis updated: 2026-09-22T10:24:58.654Z - Company: Nicola Mining Inc. - Ticker: NIM - Exchange: TSX - Region: British Columbia - Primary commodity: Silver - Secondary commodities: Lead, Zinc, Copper, Gold - Document categories: Drill results, Other - Extracted: 2026-09-22 10:24:59 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Nicola Mining has commenced its first-ever drill program at the MB Zone of the Treasure Mountain project in British Columbia. While assay results are pending, visual examination of the first drill core has identified intense semi-massive sulphide mineralization. Reasoning: The company has commenced its first drilling at a new target \(MB Zone\) and reports encouraging visual mineralization, though actual assay results are pending. - Positive factor: Commencement of first-ever drill program at MB Zone - Positive factor: Visual identification of intense mineralization - Positive factor: High-grade historical surface sampling context - Negative factor: No assay results reported yet - Negative factor: Visual estimates are not analytical results Facts used in scoring: 11 ## Classification and evidence **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The 2026 program targets the MB Zone, a previously undrilled area 1 km northwest of the historical mine. Evidence · text > MB target area, a previously undrilled zone approximately 1 km northwest of the historical Treasure Mountain silver mine **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: The release mentions visual mineralization but does not disclose assay protocols or lab certification for the current drilling. Evidence · text > While these observations are geologically encouraging, visual estimates are not a substitute for analytical results. ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Drill Results (11) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-0) silver Historical result Needs review: historical\_restatement #### Identity - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 813 - Grade Unit: g/t #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample showing very high silver grade. - Positive factor: Exceptional silver grade Evidence · text > Sample 2100151: 813 g/t Ag, 0.52 g/t Au, 19% Zn and 4.66% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-1) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 0.52 - Grade Unit: g/t #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct gold. Evidence · text > Sample 2100151: 813 g/t Ag, 0.52 g/t Au, 19% Zn and 4.66% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-2) zinc Historical result Needs review: historical\_restatement #### Identity - Commodity: zinc - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 19 - Grade Unit: % #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct zinc. Evidence · text > Sample 2100151: 813 g/t Ag, 0.52 g/t Au, 19% Zn and 4.66% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-3) copper Historical result Needs review: historical\_restatement #### Identity - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 4.66 - Grade Unit: % #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct copper. Evidence · text > Sample 2100151: 813 g/t Ag, 0.52 g/t Au, 19% Zn and 4.66% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-4) silver Historical result Needs review: historical\_restatement #### Identity - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 105 - Grade Unit: g/t #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct silver. Evidence · text > Sample 2100152: 105 g/t Ag and 1.18% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-5) copper Historical result Needs review: historical\_restatement #### Identity - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 1.18 - Grade Unit: % #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct copper. Evidence · text > Sample 2100152: 105 g/t Ag and 1.18% Cu #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-6) silver Historical result Needs review: historical\_restatement #### Identity - Commodity: silver - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 1300 - Grade Unit: g/t #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample showing exceptional silver grade. - Positive factor: Bonanza silver grade Evidence · text > Sample 2100207 \(taken from the exposed vein\): 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb and 27.2% Zn #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-7) gold Historical result Needs review: historical\_restatement #### Identity - Commodity: gold - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 2.59 - Grade Unit: g/t #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct gold. Evidence · text > Sample 2100207 \(taken from the exposed vein\): 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb and 27.2% Zn #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-8) copper Historical result Needs review: historical\_restatement #### Identity - Commodity: copper - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 1.16 - Grade Unit: % #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct copper. Evidence · text > Sample 2100207 \(taken from the exposed vein\): 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb and 27.2% Zn #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 10 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-9) lead Historical result Needs review: historical\_restatement #### Identity - Commodity: lead - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 27.4 - Grade Unit: % #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct lead. Evidence · text > Sample 2100207 \(taken from the exposed vein\): 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb and 27.2% Zn #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/nicola-mining-commences-first-ever-drill-program-at-treasure-mountain-s-mb-zone--49f465a1-d45a-4304-bd79-248fbe1c47f6#fact-drill-facts-10) zinc Historical result Needs review: historical\_restatement #### Identity - Commodity: zinc - Region: canada\_bc - Reported Region: British Columbia - Ticker: NIM #### Geometry - Grade: 27.2 - Grade Unit: % #### Classification - Sample Type: surface #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2019-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-18T00:00:00.000Z Reasoning: Historical surface sample byproduct zinc. Evidence · text > Sample 2100207 \(taken from the exposed vein\): 1,300 g/t Ag, 2.59 g/t Au, 1.16% Cu, 27.4% Pb and 27.2% Zn #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "The Company owns 100% of the New Craigmont Project, a high-grade copper property covering more than 10,800 hectares alon" ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.