22:57:55 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Nine Mile Metals Ltd
Symbol NINE
Shares Issued 62,993,387
Close 2023-08-24 C$ 0.10
Market Cap C$ 6,299,339
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Nine Mile samples up to 29.58% Cu at Wedge

2023-08-24 12:53 ET - News Release

Mr. Patrick Cruickshank reports

NINE MILE METALS ANNOUNCES XRF LAB HIGH-GRADE RESULTS UP TO 29.58% COPPER AND 10.19% + COMBINED (LEAD-ZINC) SILVER & GOLD (TBD) AT HISTORIC WEDGE MINE, BATHURST, NEW BRUNSWICK

Nine Mile Metals Ltd. has released the XRF (X-ray fluorescence) results for VMS (volcanogenic massive sulphide) mineralization collected from the Wedge mine site in the world-famous Bathurst mining camp, located in New Brunswick, Canada. Discovered in 1956, Cominco operated the mine between 1962 and 1968, producing 1.5 million tonnes of predominantly copper ore. Despite a long exploration and operating history, technical data regarding the mine were not required to be reported to the New Brunswick Department of Energy and Mines, including drill logs, assay certificates, production figures and underground mine plans, however, Nine Mile Metals has acquired significant historical work and data.

Highlights:

  • High-grade XRF lab results: 29.58 per cent Cu (copper) and 10.19 per cent combined Pb-Zn (lead-zinc) (silver and gold -- to be determined (TBD)).
  • Samples were fine-grained massive VMS (Cu-Pb-Zn) mineralization collected at the Wedge mine site and the ore pile.
  • The samples were either Cu-rich with minor Pb-Zn or Pb-Zn-rich with minor Cu.
  • Most samples consisted of 90 per cent sulphides with minor quartz/accessory minerals.
  • Property reprocessed geophysics and AI (artificial intelligence) stage 1 analysis completed.
  • Future Wedge project drill program designed and permitted.

Patrick J. Cruickshank, MBA, chief executive officer and director, stated: "These new XRF results continue to demonstrate the high-grade Cu potential at the historic Wedge mine. These are actual ore-grade samples, taken from the ore site, not chip or boulder surface samples, demonstrating the true quality of the ore from the mine below. There is a very-high-grade copper lens component and a high-grade zinc component. We look forward to testing this site at depth and along the newly identified trend. We also have the proposed drill targets from Cominco that were never tested. We look forward to releasing the Wedge project drill program very shortly."

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, and reviewed and approved by Gary Lohman, BSc, PGeo, director, who acts as the company's qualified person. Mr. Lohman is not independent of the company.

About Nine Mile Metals Ltd.

Nine Mile Metals is a Canadian public mineral exploration company focused on critical minerals exploration (CME) VMS (Cu, Pb, Zn, Ag (silver) and Au (gold)) exploration in the world-famous Bathurst mining camp, New Brunswick, Canada. The company's primary business objective is to explore its four VMS projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East-West) VMS; and the new Wedge VMS. The company is focused on critical minerals exploration, positioning for the boom in EV (electric vehicles) and green technologies requiring copper, silver, lead and zinc, with a hedge with gold.

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