Nine Mile Metals Announces Drill Hole WD-24-07 Certified Assay Results of 1.65% Copper Equivalent (Cu-Eq) over 40.32m Including 2.29% (Cu-Eq) over 13.12m and 3.25% (Cu-Eq) over 5.50m

Rhea-AI Summary

Nine Mile Metals has released the certified assay results for drill hole WD-24-07 at the Wedge VMS Drill Target in the Bathurst Mining Camp, New Brunswick. The drill hole intersected significant base metal mineralization over 40.32 meters, showing a Copper Equivalent (Cu-Eq) of 1.65%. Notably, two zones stood out: an upper zone (15.50m) with 1.98% Cu-Eq and a lower zone (13.12m) with 2.29% Cu-Eq. The lower zone includes a 5.50m section with a Cu-Eq of 3.25%. These results indicate continued high-grade copper mineralization. The company plans to proceed with 3D modeling to better define the structural and geological controls on the mineralization.

Positive

• Drill hole WD-24-07 intersected 40.32 meters of significant base metal mineralization with a Copper Equivalent (Cu-Eq) of 1.65%.
• Upper zone (15.50m) shows a Cu-Eq of 1.98%, while the lower zone (13.12m) shows a Cu-Eq of 2.29%.
• Lower zone includes a 5.50m section with a Cu-Eq of 3.25%.
• The results demonstrate continued high-grade copper mineralization east of the historic workings.
• 3D modeling to commence for better structural and geological control definition.

Negative

• The PR does not mention any new revenue generation or immediate economic benefits from these drill results.
• High metal recovery rates are assumed without clear evidence, posing a potential risk for actual yields.
• No timelines or detailed future exploration plans are provided, which could leave investors uncertain.

Vancouver, British Columbia--(Newsfile Corp. - May 16, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce it has received certified assays for drill hole WD-24-07 at the Wedge VMS Drill Target situated in the renowned Bathurst Mining Camp, New Brunswick (BMC).

WD-24-07 HIGHLIGHTS:

• Drill hole WD-24-07 was collared on the northeastern flank of the Wedge deposit, 20.00m east of WD-24-02, and drilled at an azimuth of 160 degrees with a dip of -50 degrees to a total depth of 159.00m.
• The drill hole successfully intersected continual base metal mineralization between 116.00m and 156.32m (40.32m) assaying 1.20% Cu, 0.18% Pb, 0.88% Zn, 0.12 g/t Au, and 8.00 g/t Ag, with a Copper Equivalent (Cu-Eq) of 1.65%.
• Two distinct zones of visible sulphide mineralization were intersected:
  • UPPER ZONE (123.00m - 138.50m): 15.50m assaying 1.64% Cu, 0.08% Pb, 0.82% Zn, 0.08 g/t Au, and 3.32 g/t Ag, with a Cu-Eq of 1.98%.
  • LOWER ZONE (143.20m - 156.32m): 13.12m assaying 1.40% Cu, 0.45% Pb, 1.55% Zn, 0.25 g/t Au, and 19.8 g/t Ag, with a Cu-Eq of 2.29%. The lower zone includes:
    • 10.30m of pyritic VMS (143.20m - 153.50m) assaying 1.70% Cu, 0.42% Pb, 1.59% Zn, 0.22 g/t Au, and 19.70 g/t Ag, with a Cu-Eq of 2.58%.
    • 5.50m of pyritic VMS (149.00m - 154.50m) assaying 1.58% Cu, 1.02% Pb, 3.39 % Zn, 0.46 g/t Au, and 39.60 g/t Ag, with a Cu-Eq of 3.25%.

TABLE 1: Drill Hole WD-24-07 Assays Summary

WD -24-07	From (m)	To (m)	Width (m)	Cu (%)	Pb (%)	Zn (%)	Au (g/t)	Ag (g/t)	Cu-Eq (%)
OVERALL	116.00	156.32	40.32	1.20	0.18	0.88	0.12	8.00	1.65
UPPER ZONE	123.00	138.50	15.50	1.64	0.08	0.82	0.08	3.32	1.98
LOWER ZONE	143.20	156.32	13.12	1.40	0.45	1.55	0.25	19.80	2.29
Includes	143.20	153.50	10.30	1.70	0.42	1.59	0.22	19.70	2.58
Includes	149.00	154.50	5.50	1.58	1.02	3.39	0.46	39.60	3.25

 

Copper Equivalent (Cu-Eq) for drill intersections is calculated based on May 13, 2024, pricing: US$ 4.75/ lb. Cu, US$ 1.02 / lb. Pb., S$ 1.36 lb. Zn, $ 28.48 /oz Ag and US$ 2,343/oz Au with 80% metallurgical recoveries assumed for all metals. Since it's unclear what metals will be the principal products, assuming different recoveries is premature at this stage. As such, an 80% recovery rate is justified at this point in time.

In the northeastern portion of the Wedge, the geology is a mix of volcanics and sediments, with mineralization sitting at the felsic volcanic/graphitic argillite contact as seen in DDH-24-02 to the west. The best Pb/Zn/Ag mineralization is at the base of the section in contact with the graphitic sediments.

TABLE 2: UPPER ZONE - Certified Assays of 15.50m Intersect (123.00m - 138.50m)

Sample #	From (m)	To (m)	Width (m)	Cu (%)	Pb (%)	Zn (%)	Pb + Zn (%)	Au (g/t)	Ag (g/t)
280917	123.00	124.00	1.00	3.17	0.02	1.56	1.58	0.058	4.00
280918	124.00	125.00	1.00	1.14	0.14	1.35	1.41	0.055	3.00
280919	125.00	126.00	1.00	3.10	0.18	1.23	1.41	0.079	11.00
280920	126.00	127.00	1.00	1.48	0.31	0.43	0.74	0.033	3.00
280922	127.00	128.00	1.00	1.87	0.28	0.96	1.24	0.063	3.00
280923	128.00	129.00	1.00	1.31	0.47	0.65	1.12	0.059	3.00
280924	129.00	130.00	1.00	1.46	0.23	0.62	0.85	0.054	3.00
280925	130.00	131.00	1.00	1.19	0.20	0.91	1.11	0.095	3.00
280926	131.00	132.00	1.00	1.55	0.12	1.15	1.27	0.111	3.00
280927	132.00	133.00	1.00	1.39	0.15	0.47	0.62	0.092	2.00
280928	133.00	134.00	1.00	1.41	0.04	1.14	1.18	0.086	3.00
280929	134.00	135.00	1.00	0.96	0.02	0.51	0.53	0.074	1.00
280930	135.00	136.00	1.00	0.76	0.03	0.25	0.28	0.09	2.00
280931	136.00	137.00	1.00	2.09	0.13	1.00	1.13	0.142	3.00
280932	137.00	138.50	1.50	1.71	0.12	0.25	0.37	0.102	3.00

 

In the Upper Zone (Table 2), the copper mineralization is extensive, with concentrations exceeding 1% Cu in all but two intervals. There is minor zinc mineralization; however, lead and associated silver is essentially absent.

In the Lower Zone (Table 3), the copper mineralization is more variable, with the lead, zinc, and silver again highlighting the contact with the sediments.

"Drill Hole WD-24-07 was exceptional, intersecting widespread, consistent copper mineralization over a substantial width. The mineralization is primarily fine-grained pyritic VMS, typical of the Bathurst Mining Camp, which makes visual estimates of copper challenging (Figure 1). This drill hole demonstrates the continued unmined expansion of high-grade copper east of the historic workings. With coding of the Cominco surface holes complete, 3D modeling can now commence to assist in defining the structural and geological controls on the mineralization," commented Gary Lohman, P.Geo., VP Exploration & Director.

TABLE 3: LOWER ZONE - Certified Assays of 13.12m Intersect (143.20m - 156.32m)

Sample #	From (m)	To (m)	Width (m)	Cu (%)	Pb (%)	Zn (%)	Pb + Zn (%)	Au (g/t)	Ag (g/t)
280938	143.20	144.00	0.80	2.6	0.04	0.37	0.41	0.27	12.00
280939	144.00	144.60	0.60	4.92	0.10	0.68	0.78	0.402	26.00
280940	144.60	145.50	0.90	0.89	0.03	0.38	0.41	0.09	6.00
280942	145.50	146.00	0.50	0.26	0.01	0.08	0.09	0.022	2.00
280943	146.00	147.00	1.00	nil	nil	0.02	nil	0.006	<1.00
280944	147.00	148.00	1.00	1.76	0.02	0.13	0.15	0.055	4.00
280945	148.00	149.00	1.00	1.71	0.06	0.28	0.34	0.125	5.00
280946	149.00	150.00	1.00	2.6	0.04	0.16	0.20	0.142	11.00
280947	150.00	151.00	1.00	1.86	0.07	1.36	1.43	0.217	11.00
280948	151.00	151.77	0.77	0.79	0.09	0.51	0.60	0.112	17.00
280949	151.77	152.50	0.73	0.99	0.88	2.28	3.16	0.389	42.00
280950	152.50	153.50	1.00	2.18	3.28	11.25	14.53	0.825	96.00
280055	153.50	154.50	1.00	0.73	1.50	3.78	5.28	0.991	56.00
280056	154.50	155.32	0.82	nil	0.01	0.48	0.49	0.009	<1.00
280057	155.32	156.32	1.00	0.12	0.04	0.14	0.18	0.017	1.00

 

Patrick J. Cruickshank, MBA, CEO & Director, stated, "We were incredibly pleased with this set of assays, which feature two distinct thick proportionate zones of high-grade mineralization. Visual inspection while logging core was not so optimistic about high-grade copper over long widths since the core displayed predominantly dark pyritic mineralization. However, this further demonstrates the hidden upside of the unmined extensions of the Wedge Mine Area. The BHEM survey, along with the 3D analysis of the Cominco surface drill holes (including our 2024 drill holes in new areas) will give us a very detailed picture of the subsurface areas of conductivity and mineralization. We are determined to assess the depth of the known lens and look forward to testing the eastern extension and the unmined depth of the historic mine area. The digitization of the Cominco surface drill holes (73 DDHs) has been completed (assays and lithology) and is being verified, including the survey data. An additional 110 underground drill holes (assays and lithology) have also been coded for inclusion in the model. We should receive the completed package this week and will then forward it to EarthEx for processing. This drill program continues to solidify the eastern flank extension of the historic mine as a viable source of unmined new ore. We look forward to our next set of results and further exploration plans for our entire Western portfolio."

FIGURE 1: Pyritic VMS Core Sample

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7335/209377_09ba5e09e49d0a50_002full.jpg

FIGURE 2: Copper Bloom Core Sample

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7335/209377_09ba5e09e49d0a50_003full.jpg

Figure 3: Plan View, Drill

FAQ

What are the assay results for Nine Mile Metals' drill hole WD-24-07?

Drill hole WD-24-07 intersected 40.32 meters of mineralization with a Copper Equivalent (Cu-Eq) of 1.65%.

What was the Copper Equivalent (Cu-Eq) for the upper and lower zones in WD-24-07?

The upper zone (15.50m) had a Cu-Eq of 1.98%, and the lower zone (13.12m) had a Cu-Eq of 2.29%.

What is the significance of the lower zone in WD-24-07?

The lower zone includes a 5.50m section with a high Cu-Eq of 3.25%, indicating significant mineralization.

Where is Nine Mile Metals' Wedge VMS Drill Target located?

It is situated in the Bathurst Mining Camp, New Brunswick.

What are the next steps for Nine Mile Metals after drill hole WD-24-07 results?

The company plans to proceed with 3D modeling to better define the structural and geological controls on the mineralization.