Nicola Mining Inc. (NASDAQ: NICM) (TSXV: NIM) (FSE: HLIA) has reported encouraging results from its first-ever drill hole at the newly identified Jotun target within the New Craigmont Copper Project in British Columbia. The 840-meter drill hole intersected multiple hydrothermal alteration styles, structurally controlled native copper mineralization and bornite-bearing veins, confirming geological characteristics consistent with a prospective porphyry copper system. This discovery supports the company’s evolving exploration model and identifies Jotun as a priority target for additional drilling.
The announcement is significant for the mining industry as it underscores the potential of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith, adjacent to Highland Valley Copper, Canada’s largest copper mine. The Jotun target, previously undrilled, now represents a promising area for copper exploration in a region known for major copper deposits.
As part of its 2026 exploration campaign, Nicola also completed a property-wide Mobile Magnetotelluric geophysical survey and an extensive Mobile Metal Ion soil sampling program over the Draken target. The integrated drilling, geochemical and geophysical data will refine future drill targets and support an expanded exploration program in 2027. Additional geochemical analyses from the Jotun drill hole are expected later this year, which could provide further insights into the mineralized system.
For investors and the industry, these results highlight Nicola’s strategic approach to cost-effective exploration by leveraging modern geophysical and geochemical techniques to identify high-potential targets. The company’s fully permitted mill and tailings facility near Merritt, British Columbia, capable of processing both gold and silver via gravity and flotation processes, adds operational flexibility. Nicola also holds 100% ownership of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.
The New Craigmont Project’s location adjacent to Highland Valley Copper, operated by Teck Resources, provides a significant geological and infrastructure advantage. The confirmation of porphyry copper characteristics at Jotun could attract further investment and partnership interest, potentially accelerating development timelines. With copper demand expected to rise due to electrification and renewable energy transitions, discoveries like Jotun are critical for meeting future supply needs.
Nicola Mining’s progress at Jotun demonstrates the value of systematic exploration in mature mining districts. The company’s ability to integrate multiple data sets—drilling, geophysics, and geochemistry—positions it well to de-risk subsequent drilling phases. As the 2027 exploration program takes shape, stakeholders will closely monitor additional results from Jotun and other targets within the New Craigmont Project.
For more information on the company’s latest news, visit the company’s newsroom at https://nnw.fm/NICM. The full press release is available at https://nnw.fm/CQfwb.
