Vancouver, British Columbia--(Newsfile Corp. - June 24, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce it has received certified assays for drill hole WD-24-05 and WD-24-06 at the Wedge VMS drill target situated in the renowned Bathurst Mining Camp, New Brunswick (BMC).
WD-24-05 HIGHLIGHTS:
Drill hole WD-24-05 was collared on the same drill pad as drill hole WD-24-04 and drilled at an azimuth of 160 degrees and a dip of -65 degrees to a total depth of 272.00m to undercut WD-24-04.
The drill hole successfully intersected Cu, Zn, Au, and Ag mineralization between 18.35m and 119.06m.
Four distinct zones of visible sulphide mineralization were intersected, including:
ZONE 1 (18.35m - 26.35m): 8.00m assaying 0.82% Cu, 0.54% Zn, 0.04g/t Au, and 3.00 g/t Ag Cu-Eq of 1.04%.
4.00m of pyritic VMS (18.35m - 22.35m) assaying 1.20% Cu, 0.43 % Zn, 0.05 g/t Au, and 3.50 g/t Ag, with a Cu-Eq of 1.40%.
ZONE 2 (37.55m - 50.00m): 12.45m assaying 0.20% Cu, 0.15% Zn, 0.02 g/t Au, and 1.20 g/t Ag Cu-Eq of 0.27%.
ZONE 3 (87.00m - 105.00m): 18.00m assaying 0.72% Cu, 0.33% Zn, 0.03 g/t Au, 2.20 g/t Ag Cu-Eq 0.87% Cu.
Including 13.00m of pyritic VMS (88.00m - 101.00m) assaying 0.87% Cu, 0.45% Zn, 0.03 g/t Au and 2.60 g/t Ag with a Cu-Eq of 1.06% Cu.
Including 5.00 m of pyritic VMS (96.00m - 101.00m) assaying 1.2% Cu, 0.29% Zn, 0.03 g/t Au and 2.00 g/t Ag with a Cu-Eq of 1.33 % Cu.
ZONE 4 (116.17m - 119.06m) 2.89m assaying 0.19% Cu, 0.3% Pb, 1.4% Zn, 0.09 g/t Au and 7.90 g/t Ag Cu-Eq of 0.83% Cu.
TABLE 1: Wedge Drill Hole WD-24-05 Assays Summary
WD-24-05
From
To
Width (m)
Cu (%)
Pb (%)
Zn (%)
Au (g/t)
Ag (g/t)
Cu-Eq (%)
Zone 1
18.35
26.35
8.00
0.82
nil
0.54
0.04
3.00
1.04
includes
18.35
22.35
4.00
1.20
nil
0.43
0.05
3.50
1.40
Zone 2
37.55
50.00
12.45
0.20
nil
0.15
0.02
1.20
0.27
Zone 3
87.00
105.00
18.00
0.72
nil
0.33
0.03
2.20
0.87
includes
88.00
101.00
13.00
0.87
nil
0.45
0.03
2.60
1.06
includes
96.00
101.00
5.00
1.20
nil
0.29
0.03
2.00
1.33
Zone 4
116.17
119.06
2.89
0.19
0.3
1.4
0.09
7.90
0.83
Copper Equivalent (Cu-Eq) for drill intersections is calculated based on May 13, 2024, pricing. US$ 4.75/ lb. Cu, US$ 1.02 / lb. Pb., S$ 1.36 lb. Zn, $ 28.48 /oz Ag, and US$ 2,343/oz Au with 80% metallurgical recoveries assumed for all metals. (Since it's unclear what metals will be the principal products, assuming different recoveries is premature at this stage. As such, an 80% recovery rate is justified at this point in time).
In the northern portion of the Wedge Deposit, the drill hole cut a sequence of felsic volcanics followed by black argillite and marine sediments before bottoming in felsic volcanics. As in previous drill holes, the mineralized host was pyritic VMS with no visible copper mineralization.
Drill hole WD-24-06 was collared on the same drill pad as drill hole WD-24-02 and drilled at an azimuth of 160 degrees and a dip of -65 degrees to a total depth of 215.50m to undercut WD-24-02.
The drill hole successfully intersected Cu, Zn, Au, and Ag mineralization between 68.00m and 78.00m.
Mineralization was limited to the one zone with individual meter intersections further down the hole.
TABLE 2: Wedge Drill Hole WD-24-06 Assays Summary
WD-24-06
From
To
Width (m)
Cu (%)
Pb (%)
Zn (%)
Au (g/t)
Ag (g/t)
Cu-Eq (%)
68.00
78.00
10.00
1.53
nil
0.81
0.08
7.00
1.88
69.00
78.00
9.00
1.60
nil
0.83
0.08
7.40
1.96
Copper Equivalent (Cu-Eq) for drill intersections is calculated based on May 13, 2024, pricing. US$ 4.75/ lb. Cu, US$ 1.02 / lb. Pb., S$ 1.36 lb. Zn, $ 28.48 /oz Ag, and US$ 2,343/oz Au with 80% metallurgical recoveries assumed for all metals. (Since it's unclear what metals will be the principal products, assuming different recoveries is premature at this stage. As such, an 80% recovery rate is justified at this point in time).
"Both Drill Program Summary Compilations (Figure 3 and 4) provide an oblique view of the 2024 drill holes, with the bright pink highlighting the continuity of the copper-dominant mineralization. We are pleased with the progress to date, especially since the drill holes are along the eastern extension identified by Nine Mile Metals. Mineralization occurs primarily at the volcanic-sediment contact. As seen in the drill core, the VMS host consists primarily of fine-grained pyrite with no visible copper mineralogy, requiring extensive sampling and assaying. Looking at Figures 3 and 4, you can see the value of 3D modeling, with Figure 4 showing a more coherent visualization of the copper mineralization with two distinct zones highlighted, to the north and south respectively. To the north, the mineralization seems constrained to a vertical sheet, while in the south, the drill intersections in holes WD-24-02, WD-24-04, and WD-24-7 have both grade and width at depth, which when combined, will add tonnes to the deposit. The mineralized trend is also open east of WD-24-04 for further expansion. We look forward to the BHEM survey to be conducted down WD-24-01 and will give us a very valuable look at the depth of this new mineralized area," commented Gary Lohman, P.Geo., VP Exploration & Director.
Figure 4: Oblique View of all 2024 Wedge 2024 Program Drill Holes (Facing East)
Patrick J. Cruickshank, MBA, CEO & Director stated, "We are pleased to announce this summary compilation of our 8 DDH in the new east extension of the Wedge Mine. This is significant to the economics of this project. As the compilation demonstrates, we consistently have strong copper-silver results representing significant volume. Once we drill the northwest Target Area #2 and the western flank of the deposit, we will continue with our mandate to prove this deposit is much bigger and deeper than previously thought. The Wedge continues to become an increasingly important target area for Nine Mile Metals. The upcoming additional BHEM surveys and UAV high-definition drone magnetics will clarify the deposit's structure and enhanced upside. We look forward to EarthEx and their proven technology."
Figure 5: Plan View, Completed Wedge WD-24 Drill Program Collars, and Surface Projections
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and reviewed and approved by Gary Lohman, B.Sc., PGO., VP Exploration and Director who acts as the Company's Qualified Person and is not independent of the Company.
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East - West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) we look forward to the BHEM survey to be conducted down WD-24-01 and will give us a very valuable look at the depth of this new mineralized area, (b) we will continue with our mandate to prove this deposit is much bigger and deeper than previously thought, (c) the upcoming additional BHEM surveys and UAV high-definition drone magnetics will clarify the Wedge deposit's structure and enhanced upside, and (d) we look forward to EarthEx and their proven technology. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
