Nine Mile Metals Announces XRF Results of Holes CL22-06 & CL22-07 on Initial California Lake VMS Drill Program

Rhea-AI Summary

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) announced promising initial results from its Phase 1 drill program at the California Lake VMS Project in New Brunswick. Drill holes CL2206 and CL2207 intersected significant zones of VMS mineralization, with Zn up to 40.97%. The results indicate the mineralized zones are open for expansion, with ongoing analyses at ALS Global Labs. CEO Patrick J. Cruickshank expressed optimism about the successful identification of VMS mineralization and planned further exploration to cover the extensive target structure.

Positive

• Significant VMS mineralization identified with Zn grades up to 40.97%.
• Mineralized zones show potential for expansion in both strike and depth.
• Successful confirmation of regional electromagnetic anomalies associated with mineralization.

Negative

• None.

VANCOUVER, British Columbia, Nov. 28, 2022 (GLOBE NEWSWIRE) -- NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”) is pleased to announce the XRF results for VMS target Holes CL2206 and CL2207 at its initial Phase 1 drill program at its California Lake VMS Project in the world-famous Bathurst Mining Camp, New Brunswick (“BMC”).

Highlights:

• VMS Target Hole CL2206 was drilled to a depth of 89 meters intersecting 3 zones of VMS between 45.80 and 56.20 meters (10.40m.)
  

Sample #	From (m.)	To (m.)	Width (m.)	% Cu	% Pb	% Zn	% Pb + Zn	% As
226016	45.80	46.88	1.08	0.26	5.23	8.74	13.97	0.57
226017	46.88	47.45	0.57	0.25	1.84	7.28	9.12	0.39
including	45.80	47.45	1.65	0.25	4.06	8.24	8.24
226023	52.00	53.08	1.08	0.20	1.28	14.53	15.81	0.63
226028	55.48	56.20	0.72	0.15	2.48	11.57	14.05	0.76

• VMS Target Hole CL2207 was collared approximately 15 meters west along the same azimuth, drilled to a depth of 90 meters, intersecting 6 zones of VMS mineralization between 39.05 and 49.40 meters (10.35m.)
  

Sample #	From (m.)	To (m.)	Width (m.)	Cu %	Pb %	Zn %	Pb + Zn %	As %	Au g/t	Ag g/t
226040	39.05	39.62	0.57	0.19	1.987	10.79	12.78	0.48	tbd	tbd
226041	39.62	41.00	1.38	0.01	0.004	0.05	0.05	0.01	tbd	tbd
226042	41.00	41.50	0.50	0.50	0.301	40.97	41.27	0.57	tbd	tbd
including	39.05	41.50	2.45	0.15	0.52	10.9	11.42
226045	44.95	45.05	0.10	0.10	2.21	25.69	27.90	0.22	tbd	tbd
226049	47.00	48.00	1.00	0.30	1.50	7.58	9.08	0.26	tbd	tbd
226051	48.50	48.70	0.20	0.30	4.26	15.94	20.20	1.86	tbd	tbd
226053	48.85	49.40	0.55	0.18	0.92	9.09	10.00	0.77	tbd	tbd

• VMS mineralization in both drill holes was dominated by Zn mineralization, with individual sample sections up to 40.97% Zn.
• Pb mineralization was more discreet, locally visible as small bands.
• The mineralized zone is open in both directions along strike and depth.
• Samples of the VMS mineralization and adjacent rock have been shipped to the ALS Global Labs (“ALS”) for Certification.
• Note: Due to time constraints between the California Lake drill program and the initiation of the Nine Mile Brook VMS drill program, XRF analysis was only conducted on the zones of visible VMS mineralization. The complete mineralized zone has been sent to ALS for analysis and we will announce those complete results once received. All holes have been logged, photographed, measured and cut. Holes 8-9-10-11-12-13 are currently in the XRF process and we look forward to reporting additional results, including summarized full widths.
  

X-ray fluorescence (“XRF”) is a non-destructive analytical technique used to determine the elemental composition of materials such as drill core. XRF analyzers determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source. It should be noted that the results only provide an indication of the amount of Cu, Pb and Zn present. Certified assaying of the core samples is still required to accurately determine the amount of base metal and precious metal mineralization (Copper-Lead-Zinc-Silver and Gold).

The California Lake Group has historically been a prolific zone for Silver and is typically associated with Pb / Zn sulfides. The Arsenic values (As) in the previous charts is an important pathfinder element for the presence of gold.

      

Patrick J Cruickshank, MBA, CEO & Director stated, “We are pleased to report these initial XRF results on our first (2) VMS Target Holes in our initial California Lake drill program. We set out to see if our process would identify a VMS mineralization based on just re-processed magnetics from legacy surveys and applied algorithms. In this initial program the shallow, upper portion of the system was targeted, the results justifying more advanced exploration including high-definition UAV (Drone) magnetics, ground based E.M. and I.P. surveying and 3D – AI analysis. We look forward to the next exploration phase which will focus on the entire 1.5 km target structure including the depth extension. To date, the grades identified in these finger zones are consistently well above the BMC average. To hit the three (3) Au target zones and 7 out of 8 VMS target holes on an early-stage pre-exploration program and these types of grades are further proof of our unique proprietary cutting-edge technology process. We look forward to releasing our complete results.”

Drill Holes 6 and 7 were the first holes of the program to intersect visible Cu, Pb, Zn +/- Ag, Au mineralization along the 1.5-kilometer geophysical target identified by EarthEx Geophysical Solutions Inc. The target zone is structural, well foliated, and where mineralized, is approximately 10 meters in width and includes multiple sections of VMS mineralization of varying widths. The host rocks are primarily sediments with local bands of volcanics. Mineralization is typical of the Bathurst Mining Camp with sections consisting of 95%+ sulphides including pyrite, sphalerite (Zn) and galena (Pb), the latter two visible in drill core as disseminations and bands respectively.

“The first drill holes at California Lake were successful, confirming the regional electromagnetic anomaly has associated mineralization. To date, only a small portion of the anomaly has been tested by drilling. Next steps included detailed UAV drome magnetics and ground-based Time Domain Electromagnetics to define and model priority targets prior to drilling,” stated Gary Lohman, B.Sc., P. Geo., Director.

The Pb, Zn mineralization suggests that initial deposition occurred along the flanks of a VMS system where Pb / Zn is typically dominant. Subsequent shearing and structural activity have dislocated the mineralization however the dense sulphides remain intact with generally hard contacts with the surrounding sediments. Individual widths within the 10-meter section can be greater than 2 meters. Pyrite mineralization is also present within the sediments.

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 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 Cruickshank”
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 complete mineralized zone has been sent to ALS for analysis and we will announce those complete results once received, (b) the Ag and Au values will be reported upon receipt of the assay results from ALS, and (c) the next exploration phase will focus on the entire 1.5 km target structure including the depth extension. 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/eb6c9bd1-894a-4eb2-b0a7-5a73062a73ef

https://www.globenewswire.com/NewsRoom/AttachmentNg/cd1cb106-b4e0-4e25-ac1a-fffad8941400

https://www.globenewswire.com/NewsRoom/AttachmentNg/0bd71a5b-227e-44dd-abc1-e2b704f54d11

FAQ

What were the VMS results from Nine Mile Metals at the California Lake Project?

Nine Mile Metals announced significant VMS mineralization with Zn grades up to 40.97% in drill holes CL2206 and CL2207.

When were the initial XRF results announced by Nine Mile Metals?

The initial XRF results were announced on November 28, 2022.

Which drill holes were reported in Nine Mile Metals' Phase 1 program?

The reported drill holes are CL2206 and CL2207.

What is the significance of the mineralization found in Nine Mile Metals' drill program?

The mineralization suggests potential for further exploration and confirmation of the VMS system associated with significant Zn and Pb deposits.

What are the next steps for Nine Mile Metals after the initial drill results?

The next steps include detailed UAV drone magnetics and ground-based Time Domain Electromagnetics to define priority targets for further drilling.