VANCOUVER, British Columbia, Nov. 01, 2022 (GLOBE NEWSWIRE) --
NINE MILE METALS LTD.
(
CSE: NINE, OTCQB: VMSXF, FSE: KQ9
) (the “
Company
” or “
Nine Mile
”) is pleased to announce it has drilled and confirmed a VMS system at its inaugural California Lake Project drill program, in the world-famous Bathurst Mining Camp in New Brunswick.
Two orientation drill holes were collared at California Lake to intersect the geophysical trend defined by the late time conductance in the reprocessed MegaTEM data as defined by EarthEx Geophysical Solutions Inc. (“EarthEx”). The holes also confirmed both the geological sequence and structure that is known to host the mineralization. Having established a base model, an 89-meter hole was drilled due west at a dip of -45 degrees intersecting sulphides between 43.00 and 57.00 meters, including numerous zones of massive Cu, Pb, Zn, Ag, Au bearing, BMC style, VMS mineralization as displayed in the four photos below.
Figures 1 & 2: Confirmed VMS (Cu-Pb-Zn-Ag-Au) Drill Core, California Lake Project, NB Canada
“We are pleased to confirm a VMS system on our California Lake Project in our stage #1 drill program and add a viable VMS exploration project in Nine Mile’s portfolio. We are in early stages of this drill program, but this further defines that our scientific, leading edge technology exploration process continues to deliver results. We will continue to be driven by our unique exploration processes and the next steps will be to measure, photograph, log and cut the samples for our internal XRF screening process to identify the sample sections for certified Lab Analysis to ALS Global Labs, North Vancouver, British Columbia. We look forward to reporting further results from our drill program at California Lake”, stated Patrick J. Cruickshank, MBA, CEO & Director.
Figures 3 & 4: Additional VMS Core, California Lake Project, BMC, New Brunswick, Canada
“Our unique exploration process continues to be successful and we look forward to completing our current drill program and reporting on additional results” stated Gary Lohman, P.Geo, Director & VP. Exploration.
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. VP Exploration 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) an 89-meter hole was drilled intersecting sulphides between 43.00 and 57.00 meters, including numerous zones of massive Cu, Pb, Zn, Ag, Au bearing, VMS mineralization, (b) our scientific, leading edge technology exploration process continues to deliver results, (c) the Company will continue to be driven by our unique exploration processes and the next steps will be to measure, photograph, log and cut the samples for our internal XRF screening process to identify the sample sections for certified Lab Analysis, (d) the Company looks forward to reporting further results from our drill program at California Lake, and (e) the Company’s unique exploration process continues to be successful and we look forward to completing our current drill program and reporting on additional results. 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/b33f9df2-45de-44df-88f9-321d74a55587
https://www.globenewswire.com/NewsRoom/AttachmentNg/a282f9b8-43ab-42e7-85a8-384d2284476b
https://www.globenewswire.com/NewsRoom/AttachmentNg/3745b644-56e0-4b9b-8f8d-b92126281cc9
https://www.globenewswire.com/NewsRoom/AttachmentNg/78bcb4b7-7ca5-4b76-94bf-41f16fd539f1
