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Nine Mile Metals Ltd
Symbol NINE
Shares Issued 72,922,355
Close 2024-03-11 C$ 0.13
Market Cap C$ 9,479,906
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Nine Mile Metals drills 76.1 of mineralization at Wedge

2024-03-12 10:55 ET - News Release

Mr. Patrick Cruickshank reports

NINE MILE METALS DRILLS 76.10 METERS OF MINERALIZATION IN DRILL HOLE WD-24-04

Nine Mile Metals Ltd. has drilled a mineralized zone covering 76.10 metres (m) in WD-24-04 at its initial phase 1 drill program on its Wedge VMS (volcanic massive sulphide) project in the world-famous Bathurst mining camp, New Brunswick (BMC).

WD-24-04 highlights:

  • The hole was collared on the northeast flank of the Wedge deposit approximately 40 metres east of WD-24-02 and at an azimuth of 160 degrees and a dip of minus 50 degrees to a depth of 167 metres. From recently acquired Cominco Data, the subsurface was not mined.
  • The closest Cominco holes to the east are approximately 40 metres away with drill hole WE-12 intersecting 5.76 metres assaying 1.06 per cent copper (Cu), 1.59 per cent lead (Pb) and 6.91 per cent zinc (Zn) and 1.26 ounces silver (Ag).
  • The main host is pyritic volcanogenic massive sulphide (VMS) with visible chalcopyrite and local sphalerite.
  • Copper mineralization first appears at 71 metres and continued down the hole with numerous secondary zones (117.00 to 122.00 m) of VMS and banded copper bearing pyritic mineralization.
  • High-grade zinc (22.58 per cent and 13.82 per cent) was intersected in addition to copper.
  • Nine Mile completed an XRF analysis at the base of the mineralization between 136.86 to 147.10 metres (10.24 metres) consisting of bands of massive sulphides with visible copper (chalcopyrite) and zinc (sphalerite) mineralization. The entire sequence from 71.00 to 147.10 metres is in the process of cutting prior to shipping to ALS Global in Moncton for analysis.
  • The company will continue to drill to the east in target area No. 1 to confirm new extension of the Wedge mine ore zone.

Patrick J. Cruickshank, MBA, chief executive officer and director, stated: "Hole WD-24-04 continues to display an extension to the historic Wedge mine. As we continue to concentrate in the target area No. 1, we will test new targets within this area to evaluate the size and potential to this zone. One of our mandates was to prove the target No. 1 area extension to the historical mine. We continue to be impressed with the visual mineralization width and the high-grade sections. The copper (Cu) mineralization continues to impress and in this hole we specifically see high-grade zinc lower in this hole. The deposit is still showing characteristics of a very nice Cu-Zn deposit. We look forward to our entire 76.10 m of core shipped to ALS Global in Moncton for certified assay processing. The team is currently analyzing and reviewing hole 24-02-03. We look forward to releasing our next hole."

"Drill hole WD-24-04 intersected numerous zones of copper mineralization between 78 and 147 metres. Mineralization, including large intervals of pyritic VMS, occurs at a sediment/volcanic contact, the sediment a well fractured graphitic argillite. Secondary mineralization occurs peripheral to the main zones primarily as blebs, disseminations and stringers of chalcopyrite. Sphalerite (zinc) and galena (lead) also occur but are hard to distinguish in core due to the fine-grained nature of the sulphide mineralogy. Drilling to date has been successful and we look forward to enlarging the mineralized footprint," commented Gary Lohman, PGO, vice-president of exploration and director.

The company has completed its XRF analysis for the main VMS portion of the drill hole utilizing an Olympus Vanta 50 portable XRF equipped with a 50-kilovolt workstation and reflex XRF software. The XRF process included calibrating the machine and utilizing three standards in the sample stream (OREAS 502B, OREAS 622 and CDN-BL-10 blank) at the beginning and end of the analytical sequence. Most samples consisted of a one-metre section of cut drill core and, as such, the sample was not homogeneous. There were 15 sample batches over 15.40 metres of mineralization. Each sample batch had approximately 15 to 21 data points analyzed per metre. The core sample is placed cut face down and the XRF gun takes a random unknown sample of the core. The operator has no knowledge of the laser point. The sum of the averages was divided by the number of pieces, the results of which are presented in the attached table.

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, PGO, vice-president, 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 is a Canadian public mineral exploration company focused on volcanic massive sulphide exploration in the world-famous Bathurst mining camp, New Brunswick, Canada.

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