Vancouver, B.C. February 7, 2022- NINE MILE METALS LTD. (CSE: NINE) (the “Company” or “Nine Mile”) is pleased to announce assay results from a work program completed on the Nine Mile Brook VMS Project (“Nine Mile Brook”) by Fiddlehead Mining Corp. (“FMC”) and prior to the company acquiring an interest in Nine Mile Brook (refer news releases November 29, 2021 and January 25, 2022).
FMC completed a work program in September 2021 to sample sections of the VMS Lens Extension. Ten (10) samples were broken off the VMS Lens Extension for assay and submitted for analysis to Bureau Veritas Laboratories located in Timmins, Ontario (“BV Labs”). Due to the high-grade nature of the samples, analytical package AR404 was requested, the method specifically designed for high precision and accuracy required to quantify commodity elements for resource evaluation. This method had an upper limit maximum of 20% for copper, lead, and zinc. Since some values were above the maximum limit, analytical packages MA370 and GC817 were also employed by BV Labs, the latter having an upper limit of 100% Pb for lead. The results are summarized below in Table 1.
Table 1: BV Labs Assay Results
The base and precious metal values encountered in this last round of sampling are great in both grade and consistency. The assay results demonstrate the variability within the VMS sequence at Nine Mile Brook, highlighted by discreet, higher-grade sections of both base and precious metals.
Patrick J Cruickshank, MBA, director of the Company and President & CEO of FMC stated, “These are the highest reported values yet on all of Bathurst Mining Camp Projects and we couldn’t be more excited to explore for additional VMS Lens and the economic large source deposit they broke off from. Nine Mile is taking steps to secure the next phase of this exciting exploration program on Nine Mile Brook. We are pleased that the BV Labs Assay results confirm that the Newly Discovered VMS Lens extension, is much larger and continues with High-Grade VMS Mineralization.
In 2022, the Company’s exploration will focus on defining potential targets within and proximal to the California Lake Group Volcanics to the north of the VMS lens. To assist, high-definition UAV magnetics will be utilized to define the extent of the mineralized lens and associated geologic contacts.
Figure 1: California Lake Group Volcanics host numerous VMS Deposits in the BMC
Host to the Trevali Mining Corp’s Caribou Mine, the California Lake Group, depicted in orange on Figure 1, is one of the 3 major units that host VMS deposits in the BMC. The flagship Nine Mile Brook hosts a large geological section through the core of its land package. This high priority target area is up ice and may have been the potential source of the exposed VMS mineralization.
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 and as the COO of FMC, and is not independent of the Company.
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a mineral exploration company. Its primary business objective is to explore its two properties located in New Brunswick, Canada: 100% owned Canoe Landing Lake West and 50% owned Nine Mile Brook.
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 the assayvresults are the highest in the Bathurst Mining Camp Projects; the Company will explore for additional VMS Lens and the economic large source deposit; the Company is taking steps to secure the next phase of this exciting exploration; the Company’s exploration will focus on defining potential targets within and proximal to the California Lake Group Volcanics to the north of the VMS lens; that high-definition UAV magnetics will be utilized to define the extent of the mineralized lens; that Nine Mile Brook hosts a large geological section through the core of its land package; and that this high priority target area is up ice and may have been the potential source of the exposed VMS mineralization. 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.