VANCOUVER, British Columbia, Nov. 14, 2022 (GLOBE NEWSWIRE) --
NINE MILE METALS LTD.
(
CSE: NINE, OTCQB: VMSXF, FSE: KQ9
) (the “
Company
” or “
Nine Mile
”) is pleased to announce that it has completed its initial stage 1 drill program at its California Lake VMS Project. The initial program comprised of 1,226 meters of diamond drilling in 13 holes on its California Lake VMS Project in the Bathurst Mining Camp, New Brunswick (“BMC”). There were 2 initial orientation holes, 3 holes targeting a new gold target 400m north along the prospective VMS trend, and 8 holes were collared to intersect VMS mineralization along a 1.5-kilometer, late time conductance electromagnetic anomaly defined by EarthEx Geophysical Solutions Inc. (“EarthEx”). To date, 7 drill holes core has been measured, logged, photographed and cut with 59 samples forwarded to ALS Global Laboratories Ltd. in Moncton, NB, for “RUSH” ore grade base and precious metal Lab Certified assay analysis.
Patrick J. Cruickshank, MBA, CEO and Director stated, “We couldn’t be more excited for the future of our California Lake VMS Project. This early-stage 1 st pass drill program was based on an initial re-processing of public MegaTEM datasets by our technical partner EarthEX and overlaying late time conductive responses utilized by their algorithms analysis and further cements our unique leading edge exploration processes works in the BMC. The success of our technology driven phase 1 drill program justifies the advanced investment in our model for California Lake. To have VMS results in 7 of the 8 VMS Target holes in a shallow program is exceptional. We will now model our results in 3D and design a UAV Drone & IP-EM surface grid exploration program for 2023. We look forward to analyzing the entire 1.5km long VMS anomaly and testing this area at depth once advanced metrics are received.”
With an extensive geophysical anomaly defined, the initial 2 drill holes, CL2201 – CL2202, were collared as orientation holes (depth 116m and 107m respectively) to confirm the geologic units and associated structure. Drilled approximately due west perpendicular to the anomaly, the geological units were confirmed along with a controlling structural feature.
Drill holes CL2203 – CL2205 (depth 160m, 50m and 119m) were collared approximately 400 meters to the north targeting the same anomaly and an associated feature identified immediately west. Targeting gold mineralization, the drill holes intersected disseminated sulphides in addition to locally extensive silicification and brecciation indicative of potential mineralization. Samples have been submitted for Fire Assay Gold analysis.
DDH - CL2203 -CL2205 (New Gold Target). Cut samples sent to ALS Global Laboratories for Fire-Assay Au.
Drill holes CL2206 and CL2207 (depth 89m and 90m) were collared approximately 75 meters northeast of the orientation holes and drilled to the west, perpendicular to the geophysical anomaly. Collared approximately 15meters apart, both holes intersected visual VMS mineralization at a depth of approximately 40 – 50 meters. From the same drill pads, holes CL2208 – CL2210 (depth 89m, 104m and 80m) were then drilled at oblique angles to the trend to expand the mineralized footprint, with holes CL2208 and CL2210 intersecting visual VMS mineralization. Drill hole CL2211 (depth 80m) was collared approximately 20 meters north of CL2206 and drilled to the west, again intersecting visual VMS mineralization.
Drill holes CL2212 and CL2213 (depth 62m and 80m) were collared approximately 75 meters west of CL2206 and drilled at from west to east to test the west side of the anomaly. Drilled from the same collar, the holes had a dip of– 45 and -55 degrees respectively. Numerous zones of visual VMS mineralization were intersected in both drill holes at depths of 50 – 60 meters.
“The phase 1 drill program at California Lake was successful, intersecting visual VMS mineralization (Cu, Pb, Zn, Ag and Au) in 7 of the 8 collared VMS targeted holes and potential Au mineralization in the 3 new EarthEX target holes, along strike to the north. We look forward to completing the logging and both XRF and certified laboratory analysis. The assay results will be reported when processed and received,” stated Gary Lohman, B.Sc., P. Geo., 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 Critical Minerals 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.
“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) the Company will now model our results in 3D and design a UAV Drone & IP-EM surface grid exploration program for 2023, (b) the results of SRF and laboratory analysis will be reported on when received, (c) targeting gold mineralization, the drill holes intersected disseminated sulphides in addition to locally extensive silicification and brecciation indicative of potential mineralization, and (d) the phase 1 drill program at California Lake was successful, intersecting visual VMS mineralization (Cu, Pb, Zn, Ag and Au) in 7 of the 8 collared VMS targeted holes and potential Au mineralization in the 3 new EarthEX target holes, along strike to the north. 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
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https://www.globenewswire.com/NewsRoom/AttachmentNg/56725e92-2fd6-4a2c-ae93-454210d23532
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