Nine Mile Metals Continues to Drill VMS (Cu-Pb-Zn-Ag-Au) Mineralization at Its California Lake Project, NB

Rhea-AI Summary

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) has reported positive advancements from its California Lake VMS project drill program in New Brunswick. Recent drilling at Hole CL2207 confirmed VMS mineralization, intersecting six zones containing copper, lead, zinc, silver, and gold at depths between 39 to 50 meters. This follows a successful previous drill, expanding the mineralized area. The company aims to utilize advanced geophysical methods for future exploration, highlighting its commitment to economic exploration methods.

Positive

• Confirmed VMS mineralization with six zones intersected, indicating strong potential.
• Successful expansion of mineralized area from Hole CL2206 to Hole CL2207.
• Commitment to advanced exploration methods to enhance future drilling programs.

Negative

• None.

VANCOUVER, British Columbia, Nov. 07, 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 additional VMS mineralization at its inaugural California Lake VMS project drill program, in the world-famous Bathurst Mining Camp in New Brunswick.

Hole CL2207 was collared 10 meters west of Hole CL2206 (previously announced November 1, 2022) and drilled from east to west, along the same azimuth at a dip of – 45 degrees to confirm and expand on the mineralized sections in Hole CL2206. Drill Hole CL2207 first intersected VMS mineralization at a depth of 39 meters with sulphide mineralogy continuing to 50 meters. A total of 6 zones of Cu, Pb, Zn, Ag, Au bearing, BMC style, VMS mineralization were intersected, further confirming the potential of the California Lake target.

“We are pleased to announce that we continue to drill VMS mineralization at our inaugural California Lake Phase #1 drill program. This is exceptional based that we have targeted this program on just re-processed MegaTEM and strong late time conductive targets identified by our technical partner, EarthEx Geophysical Solutions Inc. We are committed to de-risking our projects and using leading edge, new technology and economic exploration methods here at our California Lake Project. Once we complete our drill program, analyze all the relevant data, and model our results, we will be able to design an advanced geophysics program to expand the exploration program along the conductive trend and at depth. This was designed as an introductory short drill program based on our identification process and we look forward to announcing further results,” stated Patrick J. Cruickshank, MBA, CEO & Director.                

“Our drilling continues to be successful along this 1.5-kilometer geophysical target, the numerous zones of VMS mineralization over a 15-meter width further confirming its potential. We look forward to expanding the mineralized zone along strike and depth by both drilling and future detailed ground geophysics,” 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) we will be able to design an advanced geophysics program to expand the exploration program along the conductive trend and at depth, (b) a total of 6 zones BMC style, VMS mineralization were intersected, further confirming the potential of the California Lake target, (c) the Company’s drilling continues to be successful along this 1.5-kilometer geophysical target, (d) the numerous zones of VMS mineralization over a 15-meter width further confirming California Lake’s potential, and (e) we continue to drill VMS mineralization at our inaugural California Lake Phase #1 drill program. 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/60b6e543-7b7b-463f-aa2c-581885ebc777

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FAQ

What recent drilling results did Nine Mile Metals announce for the California Lake project?

Nine Mile Metals confirmed VMS mineralization with six zones intersected at Hole CL2207, located 10 meters west of Hole CL2206.

What minerals are present in the recent drill findings of Nine Mile Metals?

The drill findings included copper, lead, zinc, silver, and gold.

What is the significance of Hole CL2207 for Nine Mile Metals?

Hole CL2207 confirmed and expanded on the mineralization seen in Hole CL2206, enhancing the project's overall potential.

What are Nine Mile Metals' plans for future exploration after the recent drilling?

The company plans to use advanced geophysical methods to expand the exploration program along the conductive trend and at depth.

Is Nine Mile Metals' drilling program considered successful?

Yes, the drilling program has been deemed successful, confirming and expanding mineralization across a significant geophysical target.