VANCOUVER, British Columbia, June 26, 2023 (GLOBE NEWSWIRE) -- NINE MILE METALS LTD. ( CSE: NINE, OTCQB: VMSXF, FSE: KQ9 ) (the “ Company ” or “ Nine Mile ”) is pleased to announce we received the final report analysis and results of mineralogical testing by Research and Productivity Council (“ RPC ”), located in Fredericton, New Brunswick. RPC was engaged by Nine Mile Metals to investigate the potential of Cu-Pb-Zn-Ag-Au recovery from the Nine Mile Brook VMS Lens. RPC was provided with 52 kilograms of drill core samples (Figure 1) from the 2022 drill program to characterize the mineralogy and direct further recovery investigations. The material was combined into 3 samples after consultation with the Nine Mile Technical Team. Highlights from the report include:
- The mineralogy is like other Bathurst Mining Camp deposits however the concentration of payable metals is not typical, having very high grades.
- Combined payable metal in each of the 3 samples were 21.3% Cu, 16.1% Pb and 18.1% Zn.
- RPC concluded that an 18.5% combined payable metal could be attained based on a non-weighed average blend *** Note: This does not include Ag and Au values.
- Silver grades were similar in all 3 samples, averaging 216 g/t Ag, the silver contained in the mineral tetrahedrite, an antimony sulphide of Cu, Fe, Zn, Ag.
- Gold varied between 1.481 – 1.922 g/t Au.
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The samples also contained the critical technology element Indium, ranging from 200 – 390 ppm In.
Figure 1: 52 Kilograms of massive sulphide drill core.
The Company has also received approval and additional grant funding through the National Research Council- Industrial Research Assistance Program to fully fund the next stage directed by RPC which includes:
- Gravity separation and a bulk sulphide flotation testing to determine if there is potential to further upgrade the payable metal contents.
- Identify and contact smelters that can process high-grade ore.
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Analyze and assess potential processing options for the high Indium mineralization found in the Lens Ore, a critical mineral used in defence, energy, and telecommunications.
Due to the size and composition of the sample material, prior to the initiation of the 2,500 tonne Bulk Sampling program, Nine Mile will be providing the Department of Mines the following:
- Site design plans
- Detailed reclamation plan for the site.
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Baseline water testing (prior, during, after completion)
Figure 2: Backscattered image showing primary Cu, Pb and Zn sulphides.
Patrick J Cruickshank, MBA, CEO & Director stated, “The bulk sample analysis and receipt of another fully funded next phase for RPC is a terrific example of the support and partnerships between the mining industry and junior mining companies, here in New Brunswick. We were not surprised with the high-grade analysis and look forward to identifying the recipient smelter and initiating the bulk sample extraction phase. With the current favourable commodity prices and RPC’s head grade analysis reporting 18.5% combined payable metal, the economics of our bulk sample program will be very positive. The presence of Indium was a pleasant surprise and RPC is investigating the options to extract that high technology mineral.”
“The work by RPC has further confirmed the exceptional grades of the lens, the mineralogy consisting of primary, base metal sulphides and minor accessory minerals, facilitating processing. With head grade averages of 216.26 g/t Ag and 1.63 g/t Au and the potential of recovering Indium, we look forward to receiving RPC’s next stage final analysis report for our bulk sample program,” stated Gary Lohman, B.Sc., P. Geo., VP Exploration and Director .
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.
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) Nine Mile will be providing the Department of Mines the site design plans, the detailed reclamation plan for the site, and the baseline water testing (prior, during, after completion), (b) the economics of our bulk sample program will be very positive, (c) RPC was engaged by Nine Mile Metals to investigate the potential of Cu-Pb-Zn-Ag-Au recovery from the Nine Mile Brook VMS Lens, (d) the next stage to be conducted by RPC includes gravity separation and a bulk sulphide flotation testing to determine if there is potential to further upgrade the payable metal contents, (e) analyze and assess potential processing options for the high Indium mineralization found in the Lens Ore, (f) the potential of recovering Indium, and (g) the mineralogy is like other Bathurst Mining Camp deposits however the concentration of payable metals is not typical, having very high grades. 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/dd40489b-4727-4aa2-aca5-865cac809fb6
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0976c99-699f-4fb1-a79d-36901ecff54a
