Nine Mile Metals Drills Three Mineralized Zones, With XRF Results Up to 4.41% Copper in Zone 1; Submits 56 Meters of Samples for Certified Lab Assays in Debut Wedge VMS Drill Program
21 Febbraio 2024 - 2:00PM
NINE MILE METALS LTD. (
CSE: NINE, OTCQB:
VMSXF, FSE: KQ9) (the “
Company” or
“
Nine Mile”) is pleased to announce a segment of
XRF results from Hole WD-24-01, marking a significant milestone in
its inaugural Phase 1 drill program on the Wedge VMS Project
located within the renowned Bathurst Mining Camp in New Brunswick
(“BMC”).
Highlights:
-
Drill hole WD-24-01 was initiated in the footwall sediments
situated on the south flank of the historic mine site. It was
drilled with an azimuth of 330 degrees and a dip of -45 degrees,
reaching a depth of 164 meters to intersect an EarthEX late-time
conductor, as illustrated in Figure 3.
-
The drill hole was successful, intersecting three mineralized zones
including 6.18 meters of pyritic VMS with chalcopyrite and lesser
Pb and Zn mineralization between 33.47 meters and 39.65
meters.
-
The VMS mineralization is very fine-grained consisting of 95%
sulphides making Cu, Pb, Zn mineralogy difficult to identify.
Mineralization continued to a depth of 53.16 meters.
-
A third zone of mineralization was intersected between 139 and 142
meters.
-
The hole terminated in hanging wall volcanics at 164.5m in total
hole depth.
- 54
Samples from all three zones at hole WD-24-01, representing 56.29
meters of both VMS mineralization and adjacent rock, have been
logged, measured, cut, and shipped for submission to the ALS Global
Labs (“ALS”) in Moncton, New Brunswick for certified
analysis.
|
|
Figure 1: VMS Mineralization (Sample #252992) |
Figure 2: Copper Mineralization ( Wedge Mine) |
The Company has completed its XRF analysis for
the first upper VMS portion of the drill hole utilizing an Olympus
Vanta 50 Portable XRF equipped with a 50Kv Workstation and Reflex
XRF software. The XRF process included calibrating the machine and
utilizing two standards in the sample stream (OREAS 502B and
CDN-BL-10 Blank) at the beginning and end of the analytical
sequence. Except for one sample, each sample consisted of a 1-meter
section of cut drill core, and as such, the sample was not
homogeneous. There were six Sample Batches over 6.18 meters of
mineralization. Each sample batch had approximately 12 -21 data
points analyzed per meter. 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 Table 1 below.
Table 1: Hole Wd-24-01 (1st
Zone VMS) – XRF Results
Sample # |
From (m) |
To (m) |
Width (m) |
Cu % |
Pb (%) |
Zn (%) |
(Pb + Zn) % |
As (%) |
Ag (g/t) |
Au (g/t) |
252990 |
33.47 |
34.47 |
1.00 |
2.36 |
0.20 |
0.25 |
0.45 |
0.53 |
TBD |
TBD |
252991 |
34.47 |
35.47 |
1.00 |
1.79 |
1.13 |
1.62 |
2.75 |
0.50 |
TBD |
TBD |
252992 |
35.47 |
36.47 |
1.00 |
3.69 |
0.36 |
1.63 |
1.99 |
0.35 |
TBD |
TBD |
252993 |
36.47 |
37.47 |
1.00 |
4.41 |
0.66 |
0.59 |
1.25 |
0.43 |
TBD |
TBD |
252994 |
37.47 |
38.65 |
1.18 |
3.75 |
0.39 |
0.39 |
0.78 |
0.38 |
TBD |
TBD |
252995 |
38.65 |
39.65 |
1.00 |
0.88 |
0.05 |
0.35 |
0.40 |
0.06 |
TBD |
TBD |
|
|
|
|
|
|
|
|
|
|
|
Totals |
Ave |
|
6.18m |
2.81 |
0.46 |
0.80 |
1.26 |
0,.37 |
TBD |
TBD |
Patrick J. Cruickshank, MBA, CEO &
Director, stated, “We are pleased to report that our first drill
hole in our 2024 Wedge Program has encountered significant
mineralization with high-grade copper. Importantly, we have
identified three distinct zones totaling 56.29 meters. To have
2.81% Copper over 6.18 meters in Zone #1 is terrific and very
encouraging, especially considering it was not a high-priority
hole. This hole was constrained to its location due to heavy
snowfall, preventing the drill rig from accessing the top of Target
1 area due to steep terrain and poor conditions, thereby
necessitating the placement of the first hole at the base of our
Target 1 area. Subsequently, we have successfully reached our
priority Target 1 area with our second hole. Now, we can thoroughly
test our new and deeper targets. This achievement is a testament to
the expertise of the highly experienced rig team at Nine Mile
Metals. We eagerly anticipate summarizing the certified assays once
received.”
“The success of this hole was a result
of the valuable proprietary reprocessing and algorithms delivered
by our partner at EarthEX Geophysical Solutions. It tested a new
area along the high priority Late Time Conductive response access
(Red Line identified on Figure 3), southeast of the historical
deposit. We are looking forward to our next series of drill holes
testing new areas over the strong conductive access trend, along
with testing the depth of the original Lens, with the purpose of
confirming a larger footprint of the original deposit. “ Stated
Gary Lohman, B.Sc., PGO., Nine Mile Metals VP Exploration and
Director.
Figure 3: Wedge VMS Drill Program
Identified Targets
Figure 4: Wedge VMS Project
|
|
Figure 5: Banded VMS Core |
Figure 6: Cut Samples (56.29m) prepared for
shipping |
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., P. Geo., 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 world-famous Bathurst Mining Camp, New
Brunswick, Canada. The Company’s primary business objective is to
explore its three VMS Projects: Nine Mile Brook VMS Project;
California Lake VMS Project; and the Canoe Landing Lake (East –
West) VMS Project. The Company is focused on Critical Minerals
Exploration, positioning for the boom in EV and green technologies
requiring Copper, Silver, Lead and Zinc with a hedge with Gold.
ON BEHALF OF NINE MILE METALS LTD.
“Patrick J. Cruickshank, MBA”CEO and Director T: 506-804-6117E:
patrick@ninemilemetals.com
Forward-Looking
Information:
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 can test our new targets and deeper targets, (b) we look forward
to summarizing the Certified Assays once received, and (c) we are
looking forward to our next series of drill holes testing new areas
over the strong conductive access trend, along with testing the
depth of the original Lens with the purpose of confirming a larger
footprint of the original deposit. 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.
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