VANCOUVER, B.C. Wednesday May 25th, 2022 – NINE MILE METALS LTD. (CSE:NINE, OTCQB:STVGF, FSE:KQ9) (the “Company” or “Nine Mile”) is pleased to announce the completion of the phase 1 drill program on the Company’s flagship Nine Mile Brook VMS Project on southern target zones #1 and #2. Seven (7) diamond drill holes were completed including five (5) target drill holes and two (2) borehole EM drill holes.
At target zone #1, five (5) drill holes were collared to drill the sample area, collect samples for assay and mineralogy, and for analysis by EarthEX Geophysical Solutions Inc. (“EarthEX”) for physical properties. The results of the EarthEx study will assist in defining the survey parameters for upcoming ground and borehole electro-magnetic surveys.
The Company is very pleased to report that they have hit visual mineralization on all five (5) VMS target DDH drill holes with intersections ranging from 9 meters to 14 meters+ of high-grade VMS mineralization (Copper, Lead, Zinc). In all five (5) VMS target drill holes, abundant pyrite, chalcopyrite , sphalerite, and galena were observed in drill core locally mixed with sediments. The style of mineralization varied from banded, massive to disseminated, the latter typical for sphalerite. This style of mineralization is typical of the VMS occurrences in the Bathurst Mining Camp (“BMC”). Several core photos are displayed below.
Included in the drill program were two (2) exploratory holes, both 200 meters in depth. They were drilled to facilitate a bore hole electro-magnetic geophysical survey (“BHEM”) designed to test the Willet Horizon which hosts the VMS mineralization at the VMS (target zone #1) and 250 meters to the north at target zone #2. The BHEM survey will be completed shortly and will detect any subsurface VMS mineralization associated with the horizon, outline the size and shape of the previously defined VMS intersections, and identify additional mineralization along strike and at depth.
Massive VMS Mineralization – Chalcopyrite (Cu), Sphalerite (Zn), and Galena (Pb).
Silver (Ag) and Gold (Au) to be determined.
Massive VMS Mineralization – Chalcopyrite (Cu), Sphalerite, and Galena (Pb).
Silver (Ag) and Gold (Au) to be determined.
Next Steps are to log, photograph, measure and cut the core for assay submission to the ALS Global facility in Moncton, New Brunswick. Prior to submission to the lab, the Company will use X-ray fluorescence (“XRF”) on the core samples to obtain an indication of the grades expected.
XRF is a non-destructive analytical technique used to determine the elemental composition of materials such as drill core. XRF analyzers determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source. It should be noted that the results only provide an indication of the amount of Cu, Pb and Zn present. Assaying of the core samples is still required to accurately determine the amount of base metal and precious metal mineralization. (Copper-Lead-Zinc-Silver and Gold).
“We couldn’t be more pleased to report we have just completed Phase 1 of our drill program on our flagship Nine Mile Brook VMS Project. Having hit wide intersections of mineralization with high concentrations in Copper, Lead, and Zinc, we look forward to the Borehole EM Survey so we can get a definition of the subsurface mineralized body and other potential VMS clusters beneath the surface. We are very confident these assays will return grades very similar to our previously reported samples in our press release dated Jan 26, 2022 (excerpt featured below), stated Gary Lohman, B.Sc., P. Geo. who acts as the Company’s Qualified Person, and is a member of Nine Mile’s Technical Advisory Committee.
Table 1: BV Labs Assay Results (Jan 26, 2022 New Release)
In addition to the high-grade Lead-Zinc, the Silver, Gold and Copper assay results were exceptional. The Silver ranged from 1.54 oz to 14.47 oz/ton.
“We look forward to the next stage of our exploration program. We have filed for the Permits for the (2) Downhole EM Surveys in this phase 1 drill program, and we are also awaiting EarthEX Geophysical Solution’s proprietary 3D-AI analysis modeling for the entire Nine Mile Brook Project Claims with target prioritization for our phase 2 drill program. The visual mineralization in drill core is exceptional, and we look forward to announcing the ALS Global certified assays shortly”, stated Patrick J Cruickshank, MBA, Director, and member of the Technical Advisory Committee.
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. who acts as the Company’s Qualified Person, a member of the Nine Mile’s Technical Advisory Committee, 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 exploration of Minerals for Technology (MFT), 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.
CEO, President, Director & Secretary
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) results of the EarthEX study will assist in defining the survey parameters for upcoming ground and borehole electro-magnetic surveys, (b) BHEM survey will be completed shortly, and will detect any subsurface VMS mineralization associated with the horizon, outline the size and shape of the previously defined VMS intersections, and identify additional mineralization along strike and at depth, (c) Next Steps are to log, photograph, measure and cut the core for assay submission to the ALS Global facility, (d) the Company will use X-ray fluorescence (“XRF”) on the core samples to obtain an indication of the mineralization grades expected, (e) look forward to the Borehole EM Survey so we can get a definition of the subsurface mineralized body and other potential VMS clusters beneath the surface, (f) We are very confident these assays will return grades very similar to our previously reported samples, and (g) look forward to announcing the ALS Global certified assays. 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.