Jul 8 2015
Nicola Mining Inc. is pleased to announce that it has successfully completed a preliminary (Spring 2015) mineral exploration program on its Thule Project, which covers an area of 8,272 hectares in the Nicola Mining Division, located 14 kilometres northwest of Merritt in southern British Columbia.
A total of 48 rock samples were collected over the property from 14 known mineral tenures (MINFILES) located within the Company's mineral tenure. (http://minfile.gov.bc.ca/default.aspx?page=searchresults&d=150706062917&10=50&11=10&12=9&13=50&14=15&15=60&16=120&17=52&18=39&19=121&20=1&21=33&22=NAD+83&t=0).
The rock samples consisted of grab samples from road-cut, outcrop and historic trench and shaft dumps. Copper values ranged from trace to 9080 ppm copper. The highest value, 9080 ppm copper sample (0.9% copper), was collected from trench dump material located at the TITAN QUEEN (092ISE034) historic showing. Surface copper mineralization above 2000 ppm was also verified at the MARB (092ISE033), ERIC (092ISE036) and the MARB 72 (092ISW037) mineral showings (MINFILES). Mineralization is primarily hosted 1) as malachite-mineralization along fracture zones within quartz diorite and potasically altered volcanics, 2) in quartz veins with finely disseminated chalcopyrite within quartz diorite, and 3) within magnetite + epidote skarn-altered limy tuffs with malachite +/- azurite +/- chalcopyrite mineralization.
The 2015 Thule exploration program (the "Initial Program") consisted of five main objectives:
- Examine known historical porphyry and skarn mineral showings (MINFILES).
- Follow-up on geophysical trends defined in the 2012 helicopter aeromagnetic gradient and spectrometer survey, as highlighted on the Company's website. http://nicolamining.com/wp-content/uploads/2015/03/Geophysical_Interpretation_Memo.pdf.
- Examine road cut and outcrop exposure along new logging roads.
- Photo catalogue and re-log diamond drill core from Christopher James Gold Corp's 2005 drilling program on the Craigmont property.
- To compile and digitize historical geochemical, geophysical, drilling and geological data. Nicola Mining has nine banker boxes worth of "hard copy" data, which includes historical air photos, internal memos, geological maps, more than 1000 underground drill logs, 100 surface drill logs, and over 100,000 line-metres of ground geophysical data. Data and maps from over 100 BC Assessment Reports and property files available electronically are also being included in the electronic data compilation.
Future exploration work will consist of: 1) building upon the initial database compilation with the goal of generating a geological and mineralogical block model for the Craigmont mine site area and 2) further ground exploration work proximal to the MARB 72 and WP showings, with the goal of identifying additional porphyry-style targets.
Source: http://nicolamining.com/