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Nicola Mining Confirms Ore Body 3 Directly Adjacent to Portal 2400

Mining News - Published on Fri, 26 Jul 2019

Image Source: SteelGuru
Nicola Mining Inc announced an update on its ongoing 2019 Exploration Program at the Company's 100%-owned New Craigmont Project, located in British Columbia's Thompson-Nicola Region. The Company has received assays on the first of two drill holes. These holes were successful in intersecting the unexploited, and incompletely delineated No. 3 ore bodyN. The No. 3 ore zone is comprised of silicified wacke with moderate potassium feldspar alteration. The chalcopyrite is fine-grained and occurs as thin irregular veinlets associated with k-spar alteration and disseminated along preferential foliation fabric. A second mineralized zone was intersected at shallower depth, south of the open pit. This Upper Zone is identified by the strong k-spar-chlorite-carbonate alteration with minor brecciation. The chalcopyrite occurs as thin irregular veinlets associated with the alteration and minor dissemination in the host wacke.

Nicola Mining Inc is actively engaged in evaluating Craigmont's copper potential. This drilling successfully identified one of the significant historic resources, demonstrating that the No. 3 ore body remains an unexploited mineralized zone. Historic resource calculations of the No. 3 ore body calculated a probable reserve of 1,290,000 tonnes grading 1.53% copper®. The Company notes that these historic calculations predate NI-43 101 compliance. These calculations were conducted by the Craigmont Mines Ltd., at the time of mining for internal mining estimates. Nicola Mining recognizes that at this stage these calculations are not a NI-43 101 compliant resource. A significance observation is the copper mineralization’s association with potassic alteration, indicative of relatively high temperature fluids permeating further south of the Guichon Creek Batholith-Nicola Group contact than originally thought.

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Posted By : Sanju Moirangthem on Fri, 26 Jul 2019
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