What's Happening?
Nicola Mining has completed its first drill hole at the Jotun target within the New Craigmont Copper Project in British Columbia, confirming the potential of a porphyry copper target. The company has also conducted a comprehensive soil geochemistry program
at the Draken target and an airborne geophysical survey over the entire property. The New Craigmont site, historically known as the highest-grade major copper mine in North America, is near Canada's largest copper mine, Highland Valley Copper. Nicola's 2026 exploration program is the most advanced undertaken at New Craigmont, aiming to enhance target definition and establish a robust framework for future exploration. The completed drill hole reached a depth of 840 meters, intersecting hornblende diorite and several fault zones with visible copper, indicating a fertile mineralized environment. The top 186 meters of the hole showed strong porphyry-style alteration, confirming Jotun as a porphyry target.
Why It's Important?
The confirmation of porphyry copper potential at New Craigmont is significant for Nicola Mining and the broader mining industry. This development could lead to increased copper production, which is crucial given the rising global demand for copper, driven by its use in renewable energy technologies and electric vehicles. The project's location in British Columbia offers advantages such as low cut-off grades, reduced water and power costs, and proximity to global markets, making it economically attractive. Successful exploration and development at New Craigmont could enhance Nicola Mining's position in the market and contribute to the local economy through job creation and infrastructure development.
What's Next?
Nicola Mining plans to generate another drill target for 2027, focusing on using geophysics to understand fault interactions with the targets. The company is also preparing a drill program at the Treasure Mountain Silver Project and will return to New Craigmont later in the year to incorporate results from the 2026 program into existing data. These steps are expected to refine future drilling efforts and support a focused exploration program, potentially leading to the development of a new copper mining operation.
