Vancouver, British Columbia--(Newsfile Corp. - August 4, 2022) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to provide an exploration update on its Nine Mile Brook VMS Project in the world famous, Bathurst Mining Camp ("BMC") in New Brunswick.
Nine Mile has completed its initial Drill Program at its flagship Nine Mile Brook VMS Project. EarthEX Geophysical Solutions ("EarthEX") in Selkirk, MB is in the process of analyzing the Borehole survey data, drill hole logs, drill core assays, and structural data with their proprietary algorithms and will be integrated into our 3D exploration model.
EarthEX is also engaged with conducting petrophysics analysis on our drill core samples (including host sediments) of drill holes (#3-7) in their rock physical properties lab. The goal is to get a digital signature corresponding to the conductivity of this specific core in its host sedimentary rock package. Every deposit in the BMC California Lake Group is above the sediments package. EarthEX will analyze our Nine Mile Brook VMS Project data for matches in that signature for a match.
Patrick Cruickshank, MBA, director of Nine Mile and member of the Technical Committee, commented, "We had had a technical meeting with the New Brunswick Department of Energy and Mines, who have a number of staff who are very experienced in the BMC formation and all deposits in the BMC. We shared our high-grade core and came to several conclusions:
- we have clearly defined a Lens, and we will be able to define its current mineralized dimensions;
- this is among the highest-grade core seen in the BMC. The resulting conclusion is that Nine Mile is so close to the original vent that created this large area of mineralization;
- we have a rhyolite cap with massive sulphides covering approximately 50m located within 10m from the Lens. Each deposit in the California Lake Group had a massive sulphide rhyolite cap, an important component in the VMS system; and
- the Company has defined the structural system that caused the break of the original body and broke off the Lens. We now have the footprint of the location to explore for the remaining Lens bodies."
We are currently applying for new drill permits for the Phase 2 drill program following up with our Lens discovery which we expect to start drilling by October.
'With our recently announced funding, we are in a very strong position to expand our exploration program to include a drill program of up to 5000m on the Nine Mile Brook VMS Project. All the required elements are falling into place very nicely and with the help of our technical team, Nine Mile will continue to update the market on our progress and continue to add shareholder value," stated Charles MaLette, President, CEO and director of Nine Mile.
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 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) EarthEX is in the process of analyzing the Borehole survey data, drill hole logs, drill core assays, and structural data with their proprietary algorithms and will be integrated into our 3D exploration model; (b) we will be able to define its current mineralized dimensions; (c) we are currently applying for new drill permits for the Phase 2 drill program following up with our Lens discovery which we expect to start drilling by October; (d) we are in a very strong position to expand our exploration program to include a drill program of up to 5000m on the Nine Mile Brook VMS Project; and (e) Nine Mile will continue to update the market on our progress and continue to add shareholder value. 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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