Nine Mile Metals samples up to 24.81% Cu at Wedge

Jun 19, 2023

2023-06-19 11:39 ET – News Release

Mr. Patrick Cruickshank reports

NINE MILE METALS ANNOUNCES XRF HIGH-GRADE RESULTS UP TO 24.81% COPPER AND 38.50% COMBINED LEAD-ZINC FROM HISTORIC WEDGE MINE, BATHURST, NEW BRUNSWICK

Nine Mile Metals Ltd. has released the X-ray fluorescence results for volcanogenic massive sulphide mineralization collected from various locations at the Wedge mine site in the world-famous Bathurst mining camp, New Brunswick, Canada (BMC). Discovered in 1956, Cominco operated the mine between 1962 and 1968 producing 1.5 million tonnes of predominantly copper ore. Despite being a former producer with a remaining resource of 545,200 tonnes grading 1.75 per cent Cu, 5.21 per cent Zn and 1.71 per cent Pb, there is very little technical data with the New Brunswick Department of Mines (NBDEM) or in the public domain. There are no records of critical items such as geological maps, drill hole locations, drill logs, drill core, underground mine plans, production figures and assay certificates.

The team continues to collect representative samples amongst the rubble at site in the western portion of the clearing, to determine the base and precious metal assay values and to validate the historical grades. Geological mapping is underway to define the host geology which will assist in drill hole targeting. Upon completion of geological mapping, geophysical surveying, data compilation and interpretation by the technical team, Stage 1 drilling will commence.

As with the first sample series, the samples are cut, and analyzed XRF 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 3 standards in the sample stream (OREAS622, CDN-CGS-10 and CDN-BL-10) twice during analysis. Each sample consisted of numerous cut slabs represented by the number in brackets adjacent to the sample number below. As such, the samples were not homogeneous. Each slab was analyzed in 3 separate locations and the results averaged by the Reflex XRF software. The sum of the averages for each individual sample was divided by the number of pieces, the results of which are presented below. There were a total of 213 data points collected. The same samples have been shipped to ALS Global in Moncton for preparation and certified assay results.

Highlights:

A variety of mineralized sample types were collected at the mine site including fine-grained massive VMS (Cu-Pb-Zn), banded VMS mineralization in addition to massive chalcopyrite as in sample W23015.
The samples were predominantly Cu rich with minor Pb/Zn.
Most samples consisted of 90 per cent + sulphides and minor quartz / accessory minerals.
Historically, Cu is found concentrated in the coarse-grained pyrite in the thickest part of the deposit as demonstrated in sample W23015.
Sample W23014 is typical of hanging wall mineralization with fine grained pyrite and narrow bands of sphalerite and galena.
The samples were primarily located in the western portion of the site, 141m west of the footings of the headframe and hoist.

Patrick J Cruickshank, MBA, CEO & Director stated, “We continue to see high-grade copper and zinc at the Wedge and look forward to finalizing our upcoming project analysis for our upcoming Wedge drill program this year. The grades reflect a higher copper potential here and our drone technology analysis will demonstrate the upside potential of the Wedge and the newly identified targets on this high-quality property. We will test this mine’s economics, and larger footprint at depth and along the newly discovered western clustering trend. These results are very encouraging, and we look forward to getting the Certified Assay results from ALS Global in Vancouver including the Au and Ag.”

“The work to date and ongoing exploration provides critical information on the Wedge Deposit geology, mineralogy and potential base and precious metal grades. The results also demonstrate the Cu potential at the Wedge. The team is looking forward to receiving the certified results from ALS Global, in particular the Au and Ag assay values from the various styles of mineralization we have uncovered at site. We look forward to working closely with the Department of Mines geological team as we move the Wedge Project to the drill stage,” stated Gary Lohman, B.Sc., P. Geo., VP Exploration and Director .

The previously announced flow-through private placement of raising up to $400,000 is now closed. The Company is not proceeding with a second tranche. The Company previously announced closing $250,000 on its news release dated May 31, 2023.

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., 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 four VMS Projects: Nine Mile Brook VMS Project; California Lake VMS Project; and the Canoe Landing Lake (East – West) Project and the Wedge 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.

We seek Safe Harbor.

https://ninemilemetals.com/