NINE MILE METALS PRIVATE PLACEMENT FINANCING
Vancouver, B.C. August 30, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces its intention to complete a private placement for proceeds of up to $250,000 (the “Private Placement”). The Private Placement will consist of the sale of up to 6,250,000 units (each a “Unit”) at a price of $0.04 per Unit. Each Unit will be comprised of one common share (a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“), with each Warrant entitling the holder thereof to acquire one Common Share in the capital of the Company at a price of $0.08 per Common Share for a period of 24 months from the date of issuance. In consideration for their services in introducing subscribers to the Company under the Private Placement, finders may receive commission of 7% cash and 7% common share purchase warrants, exercisable to purchase one common share at a price of $0.08 for a period of 24 months. The Company intends to use the proceeds for operating expenses, including legal and audit fees and general working capital. All securities issued in the private placement will be subject to a four month and a day hold period. 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. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: 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) the Company will close the private placement for proceeds of up to $250,000; and (b) the Company will use the proceeds as described above. 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.
NINE MILE METALS PROVIDES EXPLORATION PROGRAM UPDATE
VANCOUVER, B.C. Thursday August 15, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to provide an update and report on the Nine Mile’s Western Portfolio Advanced Geophysical Summer 2024 Exploration Program situated in the renowned Bathurst Mining Camp, New Brunswick (BMC). EXPLORATION HIGHLIGHTS: (3) Wedge BHEM Surveys Completed (Holes WD-24-01, WD-24-05, and WD-24-06) Awaiting Final Results processing, Interpretation and 3D Modeling (1) California Lake BHEM Surveys Completed (Hole CL-23-10-01) Awaiting Final Results processing, Interpretation and 3D Modeling EEX – UAV Drone 3D Survey 1400 Line Kms – 72% Completed EEX – Ground Based TDEM Survey at California Lake Trend 10 (South) – initiated EEX – Ground Based TDEM Survey at Wedge Targets 3-4-6-7 – after California Lake #10 Les Forages Chapais Drill Rig Onsite and awaiting Final Drill Target Processing from EEX Figure 1: Nine Mile Metals Western Portfolio High Priority Target Trends Exploration Roadmap At the Wedge Project, (3) Bore Hole Electromagnetic (BHEM) surveys were completed by EarthEx Geophysical Solutions Inc. (“EarthEx” or “EEX”), one to the south (WD-24-01) collared in the footwall sediments targeting the deposit at depth and (2) holes drilled from the north (WD-24-05, WD-24-06) into the “New” unmined, eastern extension area. Preliminary results from WD-24-01 BHEM survey indicate a moderate to strong anomaly with initial modeling reflecting the mineralized intersections that included 11.10 meters assaying 1.37% Cu, 0.21% Pb, 0.29% Zn, 19.02 g/t Ag and 0.36 g/t Au (refer news release April 3, 2024). EarthEx has been provided with the historic drilling and further modeling is being conducted to determine the anomaly size and scale. Drill holes WD-24-05 and WD-24-06 were collared in the north and drilled to the southeast targeting the unmined eastern portion of the deposit. Results from WD-24-05 have near hole responses in areas of elevated assay values as expected in addition to a larger size, moderate to strong conductor. WD-24-05 uncovered VMS Mineralization in (4) Zones between 18.00 and 119.00 meters. Assay values from WD-24-05 included an 18-meter intersection assaying 0.72% Cu, 0.33% Zn, 2.2 g/t Ag and 0.03 g/t Au (refer news release June 24, 2024). A moderate to strong conductor is also seen in WD-24-06 and due to the proximity to WD-24-05, the response likely reflects the same source, the drill hole having a 10-meter intersection assaying 1.53% Cu, 0.81% Zn, 7.0 g/t Ag and 0.08 g/t Au (refer news release June 24, 2024). Additional modeling is being conducted to better constrain the anomaly and improve accuracy for drilling. The preliminary results from the California Lake CL-23-10-01 BHEM survey, indicated a weak to moderate conductor at depth. While we await the final results of the BHEM surveys, interpretation and 3D modeling, EarthEx has initiated high priority ground-based Time Domain Electromagnetic (TDEM) surveying over previously identified priority conductors at the Wedge including targets 3, 4, 6 and 7, to further define the respective anomalies (Figure 2). Located in the western Wedge trend, the TDEM survey over the clustered anomalies provides the opportunity to validate the trend with high priority drill targets. Several lines are also planned over Target 6 which is along the southern extension of the California Lake East VMS trend that was successfully drilled in 2022. Figure 2: EEX TDEM Ground Based Grids & Loop covering Wedge Targets 3-4-6-7 At California Lake, Target Areas 10 and 11 were previously defined by EarthEX, the reprocessed MegaTEM data identifying numerous strong, late time conductive trends crudely forming a fold nose as seen in red in Figure 1 and highlighted by the red polylines that define the conductive axis. With a moderate conductor identified in CL-23-10-01 at a depth of 230.00 meters and adjacent, unresolved conductors, a ground-based Time Domain Electromagnetic (TDEM) survey will be undertaken, the grid location shown in Figure 3, the southern corner of the grid proximal to the South Branch Forty Mile Brook Cu, Zn mineral occurrence identified by the yellow circle. Figure 3: California Lake Trend 10 South TDEM Grid Location (White) covering EEX Priority Strong Red Conductor In conjunction with the TDEM program, EarthEx is also conducting a large, 1,400-line kilometer, close spaced UAV (Drone) magnetic survey over the California Lake project areas including target areas 1 through 10. The drone survey is underway in addition to linecutting to facilitate the ground based TDEM surveys (Figure 4). Figure 4: EEX – UAV Advanced Drone Survey Completion Update (Green – 943.5 Line Kms 72% Completed) Gary Lohman, P.Geo., VP Exploration stated, “The entire Team at Nine Mile Metals, EarthEX, Line Cutters and Drillers, have been working for the past 2 months at the Wedge and California Lake Projects, propelling this important Exploration Program forward at an expedited rate. With all 3 surveys complete, the team will have a complete picture of the geophysical characteristics of the targets allowing us to move swiftly into our Phase 2 Drill Program. We look forward to our next update with all our results, findings, interpretation and 3D Modeling with distinct High Priority Drill targets.” NEXT STEPS: Maxwell plate modeling of the TDEM survey data. 3 D modeling of the magnetics to refine lithological boundaries and identify controlling structures. Data integration of all 3 geophysical surveys with the historic and 2024 drill data. Identification and Prioritization of drill targets. Diamond drilling. 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
NINE MILE METALS ANNOUNCES DRILL HOLES WD-24-05 & WD-24-06 CERTIFIED ASSAY RESULTS AND SUMMARY OF WEDGE EAST DRILL PROGRAM #1
VANCOUVER, B.C., Monday, 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. Figure 1: Drill Hole WD-24-05 Cross Section WD-24-06 HIGHLIGHTS: 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). Figure 2: Wedge Drill Hole WD-24-06 Cross Section Figure 3: Oblique View of all 2024 Wedge 2024 Program Drill Holes (Facing Northeast) “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
NINE MILE METALS ENGAGES EARTHEX GEOPHYSICAL SOLUTIONS FOR ADVANCED GEOPHYSICS PROGRAM AT CALIFORNIA LAKE AND WEDGE VMS PROJECTS, INCLUDING 1400-LINE-KILOMETER HIGH-DEFINITION UAV DRONE SURVEY OVER HIGH-PRIORITY TARGETS
VANCOUVER, B.C., Thursday, June 6, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce that it has engaged EarthEx Geophysical Solutions Inc. (EarthEx) to initiate its Advanced Geophysical Program over the California Lake and Wedge priority targets. In addition to the two (2) borehole electromagnetic (BHEM) surveys on CL-23-10-01 and WD-24-01 already announced, EarthEx will conduct a 1400-line-kilometer UAV drone block plan with 35-meter spacing for 3D magnetics and subsurface modeling. Once these two surveys are completed, EarthEx will initiate ground-based time-domain electromagnetic (TDEM) surveys over the Wedge Trend Targets 3, 4, and 7, California Lake East Trend Targets 6 and 8, and the California Lake West Trend Targets 10 and 11. Figure 1: UAV Hi-Definition Drone Magnetics Flight Plan Grid Over Western Portfolio – BHEM Targets #1 & #10 in Black EarthEx will conduct UAV 3D high-definition magnetics utilizing proprietary drone technology and processing algorithms for 3D subsurface modeling of the geologic units. The UAV drone is outfitted with redundant GPS and collision avoidance technology, providing precise and consistent data collection. With a 1400-line-kilometer flight block flown at a tight line spacing of 35-meters, the coverage will provide exceptional data for modeling over the larger regional trends and the more local, conductive targets. The UAV survey will be followed by ground-based TDEM surveys over priority late-time conductors previously defined by EarthEx. Continuing northwest from the Wedge, the TDEM grids will cover the Wedge Targets 3, 4, and 7, which were defined by EarthEx, and include the Tribag and West Wedge mineral occurrences, with the Tribag characterized by VMS mineralization at surface. EarthEx’s proprietary systems will provide a high-definition 3D model with subsurface priority target definition, utilizing Maxwell Plate Modeling for priority drill targets at depth. Figure 2: EarthEx Ground-Based Proposed EM Grids Over Portfolio High-Priority Targets Including BHEM Targets Daniel Card, P.Geo, RP.Geo, President of EarthEx Geophysical Solutions stated, “We are proud to be supporting Nine Mile Metals in this important advanced stage of exploration on what is becoming a very promising VMS project. This second advanced phase of modern geophysical prospecting marks an important milestone for this project’s development. The application of modern electromagnetic techniques coupled with the litho-structural detail that will be revealed by the exMAG drone magnetics survey will yield a lot of valuable information to aid in the generation of high-quality drill targets. Our BHEM technical survey processing coupled with our UAV drone and ground-based EM survey will present Nine Mile Metals with the most advanced geophysical vectoring tools to advance the Wedge and California Lake projects to the next level of exploration and target definition. The Wedge Mine area is critical for the UAV drone structural definitions required to expand this mine deposit’s footprint toward economic support. We look forward to next week’s mobilization to the Bathurst Mining Camp.” Figure 3: UAV (Drone) and GPS Base Station “With the weather now favorable, the exploration team can get back on the ground with EarthEx and refine our targeting along the Wedge trend and California Lake. This is a large, regional system defined by favorable geology, known mineral occurrences, and well-defined geophysical targets. The advanced geophysical programs being implemented by EarthEx will drive our targeting, not only at the Wedge Mine area but the entire Wedge and California Lake projects in totality. We have several well-defined trends and prior to additional drilling, a 3D HD-UAV magnetic survey will assist in interpreting the stratigraphy, faulting, and controls on the mineralization. Our phase 2 advanced geophysical models are essential to prioritize these targets and define the optimum drill pattern. Prioritizing our drill targets and the subsurface target zones is the immediate goal followed by an aggressive drill program,” commented Gary Lohman, P.Geo., VP Exploration & Director. Nine Mile Metals is pleased to announce that the Company has received the New Brunswick Junior Mining Assistance Grant for 2024, specifically to address priority targets to the northwest of the Wedge Mine site. Exploration plans include close-spaced UAV drone magnetics to assist in defining structural and stratigraphic boundaries followed by ground-based TDEM surveying and 3D plate modeling to identify future high-priority drill targets for the Phase 2 Wedge Drill Program. Nine Mile acknowledges the importance of this program in New Brunswick for all the junior exploration companies and prospectors, and thanks the NB DEM for its continued support. 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 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. ON BEHALF OF NINE MILE METALS LTD. “Patrick J. Cruickshank, MBA” CEO and Director T: 506-804-6117 E: 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
May Newsletter: Progress & Potential at Nine Mile Metals
Dear Nine Mile Metals Community, May has been a transformative month for us, with significant progress across our projects that strategically align with our mission. Our recent drill results from The Wedge VMS Project have been particularly encouraging, supporting our goal of proving that The Wedge is deeper and more expansive than previously believed. These developments highlight the immense VMS potential across all four of our projects, continuing to prove the impressive overall trend of the region. Key Updates Strategic Acquisitions: On May 2nd, we completed the acquisition of 100% of the California Lake, Canoe Landing Lake East, and Nine Mile Brook East mineral projects. This move enhances our resource base and sets us up for more focused exploration. Read More Geophysical Surveys: On May 10th, we engaged EarthEx Geophysical Solutions to conduct Borehole Electromagnetic (BHEM) surveys at California Lake and the Wedge. Starting this month, these surveys will use advanced geophysics to refine our targets and guide our next steps. Read More Drill Results: We announced significant drill results this month from our Wedge VMS Drill Target: May 16th: Drill hole WD-24-07 intersected 1.65% Cu-Eq over 40.32m, showing strong mineralization and unmined potential. View Details May 21st: Drill hole WD-24-08 revealed up to 4.57% Cu-Eq in the upper zone, confirming high-grade potential. Discover More May 29th: Drill hole WD-24-03 showed multiple zones of VMS mineralization, with Cu-Eq up to 3.61%, reinforcing our confidence in the eastern extension of the Wedge deposit. Read More Gary Lohman, our VP Exploration, noted “Drill Hole WD-24-07 was exceptional, intersecting widespread, consistent copper mineralization over a substantial width. This drill hole demonstrates the continued unmined expansion of high-grade copper east of the historic workings.” The map below shows the cross section from WD-24-03, highlighting three distinct zones rich in copper, lead, zinc, silver, and gold demonstrating the potential of our VMS projects. Future Plans With these accomplishments, we’re gearing up for Phase 2 of our drill program at The Wedge Target. Our advanced geophysical surveys, starting this month, will play a crucial role in defining our next steps. Increased Flow Through Funding will support these efforts, ensuring we can execute our summer program effectively. Our Wedge extension program continues to expand the footprint of the unmined deposit area. The impressive copper assays and significant drill hole widths are testament to the potential we are unlocking. We’re determined to increase the tonnage at the Wedge and continue building on these successes. Industry Insights For a broader perspective on our operations and strategy, watch this interview with Crux Investors. It covers our focus on copper-rich VMS deposits in the Bathurst Mining Camp and our aggressive exploration program. Watch the Interview: As we continue into June, we’re inspired by the momentum we’ve built. Remember, “The best way to predict the future is to create it.” – Peter Drucker. Thank you for joining us in creating not just the future of critical mineral exploration, but the future of sustainable energy. Join Our Discovery Journey Follow us on Twitter for real-time updates and exciting news. Engage with us on LinkedIn for comprehensive insights and professional networking. Subscribe to our YouTube channel for comprehensive video updates. Best, Patrick J. Cruickshank, MBA. CEO & Director, Nine Mile Metals Ltd.
NINE MILE METALS ANNOUNCES DRILL HOLE WD-24-03 CERTIFIED ASSAY RESULTS OF 1.58% COPPER EQUIVALENT (CU-EQ) OVER 32.10M INCLUDING 2.60% CU-EQ OVER 16.15M AND 3.61% CU-EQ OVER 8.15M
VANCOUVER, B.C., Wednesday, May 29, 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-24-03 at The Wedge VMS Drill Target situated in the renowned Bathurst Mining Camp (BMC), New Brunswick. WD-24-03 HIGHLIGHTS: Drill hole WD-24-03 was collared along the southern flank of The Wedge deposit within the footwall sediments utilizing the same drill pad as WD-24-01, drilled at an azimuth of 50 degrees and a dip of -45 degrees to a total depth of 100.00m. The drill hole successfully intersected Cu, Pb, Zn, Au, and Ag mineralization between 37.90m and 70.00m (32.10m) assaying 0.60% Cu, 0.70% Pb, 1.98% Zn, 0.21 g/t Au, and 17.03 g/t Ag with a Cu-Eq of 1.58%. Two distinct zones of VMS mineralization were intersected within the overall section, including: Cu Zone (44.85m – 61.00m): 16.15m assaying 1.06% Cu, 1.17% Pb, 2.97% Zn, 0.35 g/t Au, and 28.64 g/t Ag with a Cu-Eq of 2.60%. Pb/Zn Zone (44.85m – 53.00m): 8.15m assaying 0.95% Cu, 2.29% Pb, 5.80% Zn, 0.65 g/t Au, and 55.16 g/t Ag with a Cu-Eq of 3.61%. TABLE 1: Drill Hole WD-24-03 Assays Summary WD-24-03 From (m) To (m) Width (m) Cu (%) Pb (%) Zn (%) Pb + Zn (%) Au (g/t) Ag (g/t) Cu-Eq (%) OVERALL 37.90 70.00 32.10 0.60 0.70 1.98 2.68 0.21 17.03 1.58 Includes 37.90 61.00 23.10 0.80 0.96 2.38 3.34 0.27 23.24 2.09 Includes 44.85 61.00 16.15 1.06 1.17 2.97 4.14 0.35 28.64 2.60 Incudes 44.85 53.00 8.15 0.95 2.29 5.80 8.09 0.65 55.16 3.61 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, US$ 1.36/lb Zn, US$ 28.48/oz Ag, and US$ 2343/oz Au, with 80% metallurgical recoveries assumed for all metals. Since it is unclear which metals will be the principal products, assuming different recoveries is premature at this stage. Therefore, an 80% recovery rate is justified. Collared along the south flank of The Wedge deposit, WD-24-03 intersected graphitic footwall argillite, which was in contact with pyritized felsic volcanics and a sequence of poorly sorted mudstone. At the base of the mudstones, the massive sulphide mineralization consisted of disseminated chalcopyrite and massive pyrite and sphalerite blebs, the latter also well-banded as seen in Figure 2. Galena was also present and is reflected in both the lead and silver assays in Table 2. The distribution of the sulphide mineralogy in WD-24-03 is quite distinct, with visible sphalerite and lesser galena noted in the upper portion, while chalcopyrite was more evenly distributed throughout the section. TABLE 2: MAIN SULPHIDE ZONE – Certified Assays of 16.15m Intersection (44.85m – 61.00m) Sample # From (m) To (m) Width (m) Cu (%) Pb (%) Zn (5) Pb + Zn (%) Au (g/t) Ag (g/t) 280130 44.85 46.00 1.15 0.47 1.61 6.09 7.70 0.818 55.00 280131 46.00 47.00 1.00 0.60 1.41 1.59 3.00 0.726 46.00 280132 47.00 48.00 1.00 0.96 1.18 3.60 4.78 0.550 46.00 280133 48.00 49.00 1.00 0.53 2.16 10.65 12.81 0.835 65.00 280134 49.00 50.00 1.00 0.61 0.93 7.05 7.98 0.606 46.00 280135 50.00 51.00 1.00 1.24 1.29 7.30 8.59 0.857 54.00 280136 51.00 51.55 0.55 2.06 1.80 3.98 5.78 0.880 49.00 280137 51.55 52.00 0.45 1.69 15.45 11.35 26.80 0.283 163.00 280138 52.00 53.00 1.00 1.39 1.94 2.84 4.78 0.175 29.00 280139 53.00 54.00 1.00 0.63 0.04 0.17 0.21 0.054 2.00 280140 54.00 55.00 1.00 0.24 nil 0.06 0.06 0.068 1.00 280141 55.00 56.00 1.00 0.73 nil 0.08 0.08 0.039 1.00 280142 56.00 57.00 1.00 0.42 nil 0.07 0.07 0.066 1.00 280143 57.00 58.00 1.00 1.34 0.01 0.06 0.07 0.066 1.00 280144 58.00 59.00 1.00 2.56 0.01 0.09 0.10 0.066 2.00 280145 59.00 60.00 1.00 2.04 nil 0.09 0.09 0.035 3.00 280147 60.00 61.00 1.00 1.10 0.01 0.07 0.08 0.043 2.00 “We continue to intersect base and precious metal mineralization at The Wedge. In this drill hole, there is a distinct Pb/Zn zone at the upper contact, with visible galena present. As with other drill holes, the lead is associated with increased silver mineralization. We look forward to reporting the remaining drill holes and commencing our summer program,” commented Gary Lohman, P.Geo., VP Exploration & Director. Patrick J. Cruickshank, MBA, CEO & Director, stated, “Once again, we have a strong width of mineralization in this hole, with copper and silver leading the way. We have had a few holes now with over 1.0 oz per ton of Ag. The Wedge Target Area #1 continues to impress us with the width and grades of these drill holes. This is developing a strong story for the eastern extension of this deposit. We look forward to our upcoming BHEM survey at this base hole area to assist our advanced geophysical processing analysis in preparation for our Phase 2 program at the Wedge Target. We still have The Wedge Target Area #2 and the western extension to pursue shortly.” Figure 1: Cross Section, Drill Hole WD-24-03 Figure 2: Sample 280137, 1.69% Cu, 15.45% Pb, 11.35% Zn, 0.283 g/t Au, and 163.00 g/t Ag Figure 3: Plan View, Drill Hole Collars & Surface Projection of Drill Holes QAQC and Sampling All samples were submitted to and analyzed at ALS Laboratories Ltd (“ALSGlobal”), an independent commercial laboratory, for both sample preparation and assaying. ALS is independent of Nine Mile Metals. Base metal analysis utilizes procedure ME ICP61a, a high grade, four acid analysis (ICP-AES). Precious metal analysis includes fire assay gold (procedure Au AA23) and four-acid ore grade silver analysis, procedure AG-062. The Nine Mile QAQC program includes regular insertion of CRM standards and blanks into the sample stream with a stringent review of all results. 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.,
NINE MILE METALS ANNOUNCES DRILL HOLE WD-24-08 CERTIFIED ASSAY RESULTS OF 1.34% COPPER EQUIVALENT (CU-EQ) OVER 44.00M INCLUDING 3.73% (CU-EQ) OVER 12.00M AND 4.57% (CU-EQ) OVER 9.00M
VANCOUVER, B.C. Tuesday May 21, 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-24-08 at The Wedge VMS drill target situated in the renowned Bathurst Mining Camp, New Brunswick (BMC). WD-24-08 HIGHLIGHTS: Drill hole WD-24-08 was collared along the southern flank of The Wedge deposit within the footwall sediments, utilizing the same drill pad as drill hole WD-24-01, and drilled at an azimuth of 10 degrees and a dip of -45 degrees to a total depth of 175.5m. The drill hole successfully intersected Cu, Pb, Zn, Au, and Ag mineralization between 37.00m and 81.00m (44.00m) assaying 0.47% Cu, 0.89% Pb, 1.54% Zn, 0.18 g/t Au and 15.35 g/t Ag with a Cu-Eq of 1.34%. Two distinct zones of visible sulphide mineralization were intersected, including the: UPPER ZONE (37.00m – 49.00m): 12.00m assaying 0.95% Cu, 3.06% Pb, 4.95% Zn, 0.55g/t Au, and 48.00 g/t Ag with a Cu-Eq of 3.73%. The Upper Zone includes: 9.00m of pyritic VMS (37.00m – 46.00m) assaying 0.93% Cu, 4.08% Pb, 6.45% Zn, 0.71 g/t Au, and 63.35 g/t Ag, with a Cu-Eq of 4.57%. 10.50m of pyritic VMS (38.50m – 49.00m) assaying 1.00% Cu, 3.30% Pb, 5.40 % Zn, 0.52 g/t Au, and 49.00 g/t Ag, with a Cu-Eq of 3.94%. LOWER ZONE (75.00m – 81.00m): 6.00m assaying 1.18% Cu, 0.05% Pb, 0.36% Zn, 0.09 g/t Au, and 8.00 g/t Ag with a Cu-Eq of 1.42%. TABLE 1: Drill Hole WD-24-08 Assays Summary WD-24-08 From (m) To (m) Width (m) Cu (%) Pb (%) Zn (%) Pb + Zn (%) Au g/t Ag g/t Cu-Eq (%) OVERALL 37.00 81.00 44.00 0.47 0.89 1.54 2.43 0.18 15.35 1.34 UPPER ZONE 37.00 49.00 12.00 0.95 3.06 4.95 8.01 0.55 48.00 3.73 includes 37.00 46.00 9.00 0.93 4.08 6.45 10.53 0.71 63.35 4.57 includes 38.50 49.00 10.50 1.00 3.30 5.40 8.70 0.52 49.00 3.94 LOWER ZONE 75.00 81.00 6.00 1.18 0.05 0.36 0.41 0.09 8.00 1.42 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 southern portion of the Wedge Deposit, the drill hole cut the footwall argillite, followed by brecciated felsic volcanics with pyrite, chalcopyrite, galena, and sphalerite mineralization. The style of mineralization is quite different in the south, locally highlighted by the presence of banded to massive, blebby chalcopyrite and sphalerite. TABLE 2: UPPER ZONE – Certified Assays of 12.00m Intersection (37.00m – 49.00m) Sample # From (m) To (m) Width (m) Cu (%) Pb (%) Zn (%) (Pb + Zn) (%) Au (g/t) Ag (g/t) 280067 37.00 37.54 0.54 0.34 0.63 1.49 2.12 0.332 18.00 280068 37.54 38.50 0.96 0.65 1.81 1.82 3.63 1.100 55.00 280069 38.50 39.50 1.00 1.12 3.28 4.09 7.37 1.045 70.00 280070 39.50 40.50 1.00 1.09 5.77 10.55 16.32 0.741 70.00 280071 40.50 41.50 1.00 1.15 3.14 7.98 11.12 0.650 59.00 280072 41.50 42.50 1.00 0.81 0.79 1.91 2.70 0.578 31.00 280073 42.50 43.50 1.00 1.66 3.00 4.20 7.20 0.698 52.00 280074 43.50 44.50 1.00 0.82 11.80 19.30 31.10 0.994 142.00 280075 44.50 45.30 0.80 0.74 7.88 7.96 15.84 0.554 95.00 280077 45.30 46.00 0.70 0.45 0.81 1.58 2.39 0.085 11.00 280078 46.00 47.00 1.00 1.76 0.02 0.55 0.57 0.094 3.00 280079 47.00 48.00 1.00 0.13 nil 0.24 0.24 0.038 1.00 280080 48.00 49.00 1.00 1.14 nil 0.55 0.55 0.087 3.00 “Drill hole WD-24-08 included visibly abundant lead and zinc mineralization with the increased presence of galena (Pb sulphide) reflected in the higher silver assays as seen in the samples in Table 2, with assays up to 142.00 g/t Ag. Fire assay gold was elevated, reaching up to 1.1g/t Au. Intersections seen in drill hole WD-24-08 demonstrate the multi-element potential of the system,” commented Gary Lohman, P.Geo., VP Exploration & Director. Patrick J. Cruickshank, MBA, CEO & Director stated, “We are pleased to continue releasing drill results that support our objective of proving the eastern proposed extension of unmined ore and expanding The Wedge Deposit’s footprint to re-evaluate its economics. Hole WD-24-08 was a solid VMS hole, displaying very strong copper and silver with good lead-zinc mineralization. Through reviewing the five announced drill holes to date on The Wedge program and the upcoming 73 newly received digitized Cominco historic surface hole data (assays and lithology), along with 110 underground holes, combined with our announced BHEM at the Wedge, we are going to be able to evaluate and execute phase 2 on this high-priority project in our western portfolio of targets. We look forward to our next release in our 2024 exploration program. We are finalizing our summer program at other high priority targets, including California Lake Hole #10, Wedge North Target #6, and The West Wedge and Tri Bag trend targets.” FIGURE 1: Chalcopyrite, Lower Zone (2.05% Cu) FIGURE 2: Chalcopyrite Lower Zone (3.78% Cu) Figure 3: Plan View, Drill Hole Collars, and Surface Projection (Drill Holes Reported to Date) 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
NINE MILE METALS ANNOUNCES DRILL HOLE WD-24-07 CERTIFIED ASSAY RESULTS OF 1.65% COPPER EQUIVALENT (CU-EQ) OVER 40.32M INCLUDING 2.29% (CU-EQ) OVER 13.12M AND 3.25% (CU-EQ) OVER 5.50M
VANCOUVER, B.C. Thursday May 16, 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-24-07 at the Wedge VMS Drill Target situated in the renowned Bathurst Mining Camp, New Brunswick (BMC). WD-24-07 HIGHLIGHTS: Drill hole WD-24-07 was collared on the northeastern flank of the Wedge deposit, 20.00m east of WD-24-02, and drilled at an azimuth of 160 degrees with a dip of -50 degrees to a total depth of 159.00m. The drill hole successfully intersected continual base metal mineralization between 116.00m and 156.32m (40.32m) assaying 1.20% Cu, 0.18% Pb, 0.88% Zn, 0.12 g/t Au, and 8.00 g/t Ag, with a Copper Equivalent (Cu-Eq) of 1.65%. Two distinct zones of visible sulphide mineralization were intersected: UPPER ZONE (123.00m – 138.50m): 15.50m assaying 1.64% Cu, 0.08% Pb, 0.82% Zn, 0.08 g/t Au, and 3.32 g/t Ag, with a Cu-Eq of 1.98%. LOWER ZONE (143.20m – 156.32m): 13.12m assaying 1.40% Cu, 0.45% Pb, 1.55% Zn, 0.25 g/t Au, and 19.8 g/t Ag, with a Cu-Eq of 2.29%. The lower zone includes: 10.30m of pyritic VMS (143.20m – 153.50m) assaying 1.70% Cu, 0.42% Pb, 1.59% Zn, 0.22 g/t Au, and 19.70 g/t Ag, with a Cu-Eq of 2.58%. 5.50m of pyritic VMS (149.00m – 154.50m) assaying 1.58% Cu, 1.02% Pb, 3.39 % Zn, 0.46 g/t Au, and 39.60 g/t Ag, with a Cu-Eq of 3.25%. TABLE 1: Drill Hole WD-24-07 Assays Summary WD -24-07 From (m) To (m) Width (m) Cu (%) Pb (%) Zn (%) Au (g/t) Ag (g/t) Cu-Eq (%) OVERALL 116.00 156.32 40.32 1.20 0.18 0.88 0.12 8.00 1.65 UPPER ZONE 123.00 138.50 15.50 1.64 0.08 0.82 0.08 3.32 1.98 LOWER ZONE 143.20 156.32 13.12 1.40 0.45 1.55 0.25 19.80 2.29 Includes 143.20 153.50 10.30 1.70 0.42 1.59 0.22 19.70 2.58 Includes 149.00 154.50 5.50 1.58 1.02 3.39 0.46 39.60 3.25 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 northeastern portion of the Wedge, the geology is a mix of volcanics and sediments, with mineralization sitting at the felsic volcanic/graphitic argillite contact as seen in DDH-24-02 to the west. The best Pb/Zn/Ag mineralization is at the base of the section in contact with the graphitic sediments. TABLE 2: UPPER ZONE – Certified Assays of 15.50m Intersect (123.00m – 138.50m) Sample # From (m) To (m) Width (m) Cu (%) Pb (%) Zn (%) Pb + Zn (%) Au (g/t) Ag (g/t) 280917 123.00 124.00 1.00 3.17 0.02 1.56 1.58 0.058 4.00 280918 124.00 125.00 1.00 1.14 0.14 1.35 1.41 0.055 3.00 280919 125.00 126.00 1.00 3.10 0.18 1.23 1.41 0.079 11.00 280920 126.00 127.00 1.00 1.48 0.31 0.43 0.74 0.033 3.00 280922 127.00 128.00 1.00 1.87 0.28 0.96 1.24 0.063 3.00 280923 128.00 129.00 1.00 1.31 0.47 0.65 1.12 0.059 3.00 280924 129.00 130.00 1.00 1.46 0.23 0.62 0.85 0.054 3.00 280925 130.00 131.00 1.00 1.19 0.20 0.91 1.11 0.095 3.00 280926 131.00 132.00 1.00 1.55 0.12 1.15 1.27 0.111 3.00 280927 132.00 133.00 1.00 1.39 0.15 0.47 0.62 0.092 2.00 280928 133.00 134.00 1.00 1.41 0.04 1.14 1.18 0.086 3.00 280929 134.00 135.00 1.00 0.96 0.02 0.51 0.53 0.074 1.00 280930 135.00 136.00 1.00 0.76 0.03 0.25 0.28 0.09 2.00 280931 136.00 137.00 1.00 2.09 0.13 1.00 1.13 0.142 3.00 280932 137.00 138.50 1.50 1.71 0.12 0.25 0.37 0.102 3.00 In the Upper Zone (Table 2), the copper mineralization is extensive, with concentrations exceeding 1% Cu in all but two intervals. There is minor zinc mineralization; however, lead and associated silver is essentially absent. In the Lower Zone (Table 3), the copper mineralization is more variable, with the lead, zinc, and silver again highlighting the contact with the sediments. “Drill Hole WD-24-07 was exceptional, intersecting widespread, consistent copper mineralization over a substantial width. The mineralization is primarily fine-grained pyritic VMS, typical of the Bathurst Mining Camp, which makes visual estimates of copper challenging (Figure 1). This drill hole demonstrates the continued unmined expansion of high-grade copper east of the historic workings. With coding of the Cominco surface holes complete, 3D modeling can now commence to assist in defining the structural and geological controls on the mineralization,” commented Gary Lohman, P.Geo., VP Exploration & Director. TABLE 3: LOWER ZONE – Certified Assays of 13.12m Intersect (143.20m – 156.32m) Sample # From (m) To (m) Width (m) Cu (%) Pb (%) Zn (%) Pb + Zn (%) Au (g/t) Ag (g/t) 280938 143.20 144.00 0.80 2.6 0.04 0.37 0.41 0.27 12.00 280939 144.00 144.60 0.60 4.92 0.10 0.68 0.78 0.402 26.00 280940 144.60 145.50 0.90 0.89 0.03 0.38 0.41 0.09 6.00 280942 145.50 146.00 0.50 0.26 0.01 0.08 0.09 0.022 2.00 280943 146.00 147.00 1.00 nil nil 0.02 nil 0.006 <1.00 280944 147.00 148.00 1.00 1.76 0.02 0.13 0.15 0.055 4.00 280945 148.00 149.00 1.00 1.71 0.06 0.28 0.34 0.125 5.00 280946 149.00 150.00 1.00 2.6 0.04 0.16 0.20 0.142 11.00 280947 150.00 151.00 1.00 1.86 0.07 1.36 1.43 0.217 11.00 280948 151.00 151.77 0.77 0.79 0.09 0.51 0.60 0.112 17.00 280949 151.77 152.50 0.73 0.99 0.88 2.28 3.16 0.389 42.00 280950 152.50 153.50 1.00 2.18 3.28 11.25 14.53 0.825 96.00 280055 153.50 154.50 1.00 0.73 1.50 3.78 5.28 0.991 56.00 280056 154.50 155.32 0.82 nil 0.01 0.48 0.49 0.009 <1.00 280057 155.32 156.32 1.00 0.12 0.04 0.14 0.18 0.017 1.00 Patrick J. Cruickshank, MBA, CEO & Director, stated, “We were incredibly pleased with this set of assays, which feature two distinct thick proportionate zones of high-grade mineralization. Visual inspection while logging core was not so optimistic about high-grade copper
NINE MILE METALS ENGAGES EARTHEX GEOPHYSICAL SOLUTIONS TO CONDUCT TWO (2) BOREHOLE ELECTROMAGNETIC (BHEM) SURVEYS AT CALIFORNIA LAKE (CL-23-10-01) AND THE WEDGE (WD-24-01) DRILL HOLES
VANCOUVER, B.C. Friday May 10th, 2024 – NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce that it has engaged EarthEx Geophysical Solutions Inc. (EarthEx) to conduct two (2) Borehole Electromagnetic (BHEM) surveys, one at California Lake (CL-23-10-01) and a second at the Wedge (WD-24-01), as shown in Figure 1. Permit applications have been submitted and received from the Department of Natural Resources in Fredericton, New Brunswick. The EarthEx crew is scheduled to mobilize the 1st week of June from their Headquarters in Manitoba. Figure 1: BHEM Collar Locations, California Lake (CL-23-10-01) and the Wedge (WD-24-01). Borehole EM surveying is a High-Resolution Time Domain EM technology that involves the laying of a transmitting loop to the side of the projected drill hole, followed by dropping a survey probe down the hole to detect the electrical conductivity of the adjacent rocks. Many factors are taken into consideration in the survey design including the depth of the hole, its position relative to the target, the geology of the country rock, and the specified target. At the California Lake DDH (CL- 23-10-01), EarthEx has proposed an 800 x 800-meter loop. With the depth of the drill hole, the possible search radius of the survey may be near 500 – 700+ meters, covering all the intended targets and adjacent converging Late Time Strong Conductive Responses (Red – Yellow & Blue Line Axis) anomalies (Figure 2). The California Lake drill hole (CL-23-10-01) was drilled at an azimuth of 203 degrees and a dip of -75 and was terminated above target depth due to inclement weather and access restrictions in December. After reviewing the drill logs, discussing with geologists from the Department of Mines, and a follow up review with EarthEx, a borehole electromagnetic survey was designed by the Technical Team to test both the original target at California Lake DDH (CL-23-10-01), as well as adjacent, strong, and late time electromagnetic conductors previously defined by EarthEx. The BHEM Survey will allow Nine Mile to see the conductivity deeper and in all directions from the probe. This is very cost effective, especially when dealing with a deep drill hole where continued drilling is both time consuming and expensive. As previously released, the drilling was in a mix of Flat Landing Brook felsic volcanics that displayed intense hydrothermal alteration, high temperature mineralogy, and sulphide mineralization, with the extremely siliceous host rocks making drilling at depth challenging. In addition to burning drill bits, drilling was slow, at times cutting only a meter per hour. Figure 2: DDH CL-23-10-01 and identified Late Time EM Strong Conductor (Red), Moderate (Yellow) an Weak (Blue) At the Wedge, the DDH (WD-24-01) was collared approximately 30 meters below the footings of the old headframe and drilled at an azimuth of 330 degrees and a dip of –45 degrees to a depth of 165 meters. EarthEx has proposed utilizing a 300 x 300-meter loop. Although the drill hole does not have benefit of depth, it was collared on the strong conductor identified by EarthEx. This survey should provide information on the adjacent rocks, including mineralization below the Wedge mine where there is no evidence of mining. The survey will also provide information on the structural complexity of the deposit and the location of any offset mineralization/lenses. Figure 3: The Wedge DDH (WD-24-01) over Late Time EM Strong Conductor (Red). “Borehole geophysics on both drill holes will provide the team with further direction prior to additional drilling. It is imperative we revisit CL-23-10-01 with BHEM prior to additional drilling. In addition to being cost effective, the BHEM survey will delineate potential targets below the end of the present drill hole, while also evaluating the adjacent stratigraphy where we have the convergence of three (3) conductors at Target area 10. We are in the right stratigraphy and multiple sources have identified a favorable VMS target environment at depth adjacent to and flanking the drill hole. At the Wedge, historical mining below 500 feet was limited and the results of the BHEM survey combined with our recent assays and the upcoming 3D model will assist in designing the phase 2 drill program. We look forward to commencing work in early June and advancing the California Lake VMS program, utilizing the best technology and data processing available,” commented Gary Lohman, P.Geo., VP Exploration & Director. Patrick J Cruickshank, MBA, CEO & Director stated, “We are pleased to announce our Advanced Phase 2 Geophysical Exploration Program. The western portfolio’s successes have been based on our proprietary Phase 1 reprocessing technologies. These successes warrant the next step in our technological process, BHEM Surveys, and deposit footprint with step out extension 3D Modeling. Our 2024 summer program will commence the 1st week of July and continue through the fall. The recent increased Flow Through Funding was very important for us to execute our complete summer program including our next drill phase once the advanced geophysics are completed and interpreted for priority target definition. Now, with our spring access available, we are eager to enter this important and exciting phase of our program. We look forward to releasing our next assays on our Wedge Phase 1 DDH Program once available.” The company has also submitted an application for the New Brunswick Junior Mining Assistance Grant Program (NBJMAP), specifically to address priority targets to the northwest of the Wedge mine site. Exploration plans include close spaced UAV (Drone) magnetics to assist in defining structural and stratigraphic boundaries followed by ground-based Time Domain Electromagnetic (TDEM) surveying and 3D plate modeling to identify future high priority drill targets for the Phase 2 Wedge Drill Program. The NBJMAP Panel awards the 2024 Grant Recipients by end of May. Last year, Nine Mile Metals was awarded a $50,000 Grant for its California Lake VMS Project, which was utilized for drilling the California Lake DDH (CL-23-10-01). The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in
NINE MILE METALS COMPLETES EXERCISE AND ACQUIRES 100% OF CALIFORNIA LAKE, CANOE LANDING LAKE EAST AND NINE MILE BROOK EAST PROPERTIES
VANCOUVER, B.C. – May 2, 2024, NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) announces that it has completed the exercise and acquisition of 100% of California Lake, Canoe Landing Lake East and Nine Mile Brook East mineral projects, dated April 25, 2022 (the “Option.”). Please see our news release dated April 25, 2024. The Company now owns 100% right, title and interest in and to 12 mineral claims: California Lake (6 claims), Canoe Landing Lake East (4 claims); and Nine Mile Brook area (2 claims), totalling 38.94 km2, subject to a 2% Net Smelter Royalty. The Company issued a total of 333,332 common shares at a deemed price of $0.075 per share, in accordance with the Option. The Optionors and the Company also converted the final $30,000 cash payment owing under the Option for 333,334 common shares at a deemed price $0.09 per share. All securities issued will be subject to a four month and a day hold period. 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. Social Media Twitter @NineMileMetals LinkedIn Nine Mile Metals Facebook @ Nine Mile Metals Instagram Nine Mile Metals YouTube @ninemilemetals ON BEHALF OF NINE MILE METALS LTD. “Patrick J Cruickshank, MBA” CEO and Director T: +1.506-804-6117 E: 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. 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.