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Overview of Nine Mile Metals Ltd
Nine Mile Metals Ltd (symbol: VMSXF) is a Canadian public mineral exploration company dedicated to the exploration of volcanogenic massive sulfide (VMS) deposits in the renowned Bathurst Mining Camp (BMC) in New Brunswick. With a focus on critical minerals including copper, lead, zinc, silver, and gold, the company employs state-of-the-art geophysical and drilling techniques to unlock the potential of its portfolio.
Core Business and Project Portfolio
The Company has structured its operations around a diversified portfolio of exploration projects which includes:
- Nine Mile Brook VMS Project – A strategically positioned asset that contributes to the overall geological narrative in the region.
- California Lake VMS Project – Characterized by advanced geophysical surveys and drilling programs, it highlights the use of methods like TDEM and UAV magnetics.
- Canoe Landing Lake (East – West) VMS Project – A project designed to evaluate VMS prospects across multiple geologic terrains.
- The Wedge VMS Project – The flagship asset where multiple drilling initiatives and advanced geophysical modeling techniques such as BHEM surveys have been deployed to delineate extensive mineralized zones.
Technical Expertise and Exploration Strategies
Nine Mile Metals Ltd is known for its rigorous and methodological approach to mineral exploration. The Company has integrated multiple layers of advanced geophysical technologies, including bore hole electromagnetic (BHEM) surveys, Time Domain Electromagnetic (TDEM) studies, and UAV 3D drone magnetics to build a highly detailed subsurface model. These methods not only refine drill target identification but also ensure robust QAQC protocols through independent laboratory analyses, all of which reinforce the Company’s technical credibility and industry experience.
Operational Excellence and Industry Position
The Company maintains a disciplined approach in both its exploration programs and its operational process. By focusing on detailed geological assessments and continuous technical refinements, Nine Mile Metals Ltd positions itself as an informed explorer in the highly competitive realm of VMS mineral exploration. Its commitment to leveraging in-depth scientific analysis and innovative exploration techniques is a testament to its authoritativeness within the sector.
Exploration Methodology and QAQC Protocols
Every exploration initiative at Nine Mile Metals Ltd is underpinned by stringent quality assurance and independent verification measures. Samples undergo thorough analysis at accredited commercial laboratories using advanced procedures such as high-grade four acid analysis and fire assay techniques. This commitment to methodological rigor provides investors and stakeholders with transparency and solid confidence in the technical findings and delineation strategies employed by the Company.
Market Relevance and Critical Minerals Focus
In an era driven by the growing demands of green technology and electric vehicles, the exploration of critical minerals has become essential. Nine Mile Metals Ltd is strategically placed to contribute to this global trend by focusing on metals that are vital for modern energy solutions. Its research-driven approach ensures that the Company consistently identifies and delineates mineralized zones, thereby reinforcing its market significance in an industry where detailed geological modelling is paramount.
Summary
Overall, Nine Mile Metals Ltd stands out for its deep-rooted expertise in VMS exploration. The Company’s multi-project strategy, underscored by advanced geophysical and drilling methodologies, highlights its ability to methodically explore and interpret complex geological settings. By integrating industry best practices with innovative technologies, Nine Mile Metals Ltd provides a comprehensive and detailed outlook of its exploration initiatives, ensuring that prospective investors and industry observers have a clear, complete understanding of its operational model and technical strengths.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) has announced the initiation of its Phase 2 drill program on the Wedge VMS Project. The company has engaged Les Forages Chapais from Sussex, N.B. to drill up to 2,000 metres. Chapais is currently mobilizing the drill rig from California Lake to the Wedge Property, with drilling expected to commence by the weekend.
This development marks a significant step in Nine Mile Metals' exploration efforts, potentially impacting its mineral resource assessment and future prospects. The Phase 2 program follows previous exploration activities and may provide valuable insights into the property's mineralization potential.
Nine Mile Metals (OTCQB: VMSXF) has completed four Bore Hole Electromagnetic (BHEM) Surveys at its California Lake and Wedge VMS Projects. While results from California Lake are pending, the Wedge Project surveys revealed significant mineralized zones. EarthEx identified new target plates at Wedge Target #1, recommending further drilling to intersect these zones. The surveys also confirmed the presence of copper-dominant VMS mineralization across multiple drill holes, suggesting substantial exploration potential. Going forward, Nine Mile plans to mobilize drills to target these areas and awaits additional data from EarthEx’s geophysical analysis.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) has amended its private placement financing announced on August 30, 2024. The company now plans to raise up to $250,000 by offering up to 5,000,000 units at $0.05 per unit. Each unit consists of one common share and half a warrant, with each whole warrant allowing the purchase of one common share at $0.08 for 24 months.
Finders may receive a 7% cash commission and 7% warrants. The proceeds will be used for operating expenses, including legal and audit fees, and general working capital. Securities issued will have a four-month and one-day hold period.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) has announced its intention to complete a private placement to raise up to $250,000. The company plans to issue up to 6,250,000 units at $0.04 per unit. Each unit comprises one common share and half a warrant, with each full warrant allowing the purchase of an additional common share at $0.08 within 24 months of issuance.
Finders may receive a 7% cash commission and 7% warrants for introducing subscribers. The proceeds will be used for operating expenses, including legal and audit fees, and general working capital. All securities issued will be subject to a four-month and one-day hold period.
Nine Mile Metals (CSE: NINE, OTCQB: VMSXF) has provided an update on its Western Portfolio Advanced Geophysical Summer 2024 Exploration Program in the Bathurst Mining Camp, New Brunswick. Key highlights include:
1. Completion of three Bore Hole Electromagnetic (BHEM) surveys at the Wedge Project and one at California Lake.
2. Initiation of ground-based Time Domain Electromagnetic (TDEM) surveys at Wedge and California Lake.
3. Progress on a 1,400-line kilometer UAV drone magnetic survey, with 72% completion.
4. Preliminary results indicating moderate to strong conductors in several drill holes.
5. Les Forages Chapais drill rig on-site, awaiting final drill target processing.
The company is now awaiting final results, interpretation, and 3D modeling to identify and prioritize drill targets for the upcoming Phase 2 Drill Program.
Nine Mile Metals announced the results of drill holes WD-24-05 and WD-24-06 at the Wedge VMS target in Bathurst Mining Camp, New Brunswick. Highlights include intersections of copper, zinc, gold, and silver. WD-24-05 revealed four distinct zones of mineralization, with the highest copper equivalent (Cu-Eq) value at 1.40%. Drill hole WD-24-06 intersected copper-dominant mineralization with a maximum Cu-Eq value of 1.96%. The results indicate strong continuity of copper mineralization, with potential for sizable deposit expansion. Future surveys and drilling are planned to further explore the deposit's extent.
Nine Mile Metals has initiated an advanced geophysics program at its California Lake and Wedge VMS projects. Partnering with EarthEx Geophysical Solutions, the venture includes a 1400-line-kilometer UAV drone survey covering high-priority targets, coupled with advanced borehole and ground-based electromagnetic surveys.
The UAV survey will utilize cutting-edge technology for 3D subsurface modeling. EarthEx's proprietary systems aim to provide precise data to enhance drill target identification. This initiative is poised to improve structural definitions critical for mining operations.
The program is supported by the New Brunswick Junior Mining Assistance Grant, aiding Nine Mile Metals in refining its exploration strategies. The initiative marks a significant step in advancing the projects and prioritizing drill targets to optimize future drilling efforts.
Nine Mile Metals has announced certified assay results for drill hole WD-24-03 at The Wedge VMS Drill Target in Bathurst Mining Camp, New Brunswick. The drill hole intersected mineralization over 32.10m with a copper equivalent (Cu-Eq) of 1.58%. Notable sections include 16.15m at 2.60% Cu-Eq and 8.15m at 3.61% Cu-Eq. The assays revealed 0.60% Cu, 0.70% Pb, 1.98% Zn, 0.21 g/t Au, and 17.03 g/t Ag. Distinct zones included a Cu zone with 1.06% Cu, 1.17% Pb, and 2.97% Zn over 16.15m, and a Pb/Zn zone with 0.95% Cu, 2.29% Pb, and 5.80% Zn over 8.15m. Assays were processed by ALS Laboratories with stringent QAQC protocols.
Nine Mile Metals has announced the certified assay results for drill hole WD-24-08 at the Wedge VMS target in Bathurst Mining Camp, New Brunswick.
The drill hole intersected 1.34% Copper Equivalent (Cu-Eq) over 44 meters, including 3.73% Cu-Eq over 12 meters and 4.57% Cu-Eq over 9 meters.
The Upper Zone (37.00m - 49.00m) showcased significant mineralization with 0.95% Cu, 3.06% Pb, 4.95% Zn, 0.55 g/t Au, and 48.00 g/t Ag (3.73% Cu-Eq), highlighting 9 meters at 4.57% Cu-Eq.
The Lower Zone (75.00m - 81.00m) intersected 1.18% Cu, 0.05% Pb, 0.36% Zn, 0.09 g/t Au, and 8.00 g/t Ag (1.42% Cu-Eq).
The results support the extension of unmined ore in the eastern Wedge Deposit.
Nine Mile Metals announced the certified assay results for drill hole WD-24-08 at The Wedge VMS drill target in Bathurst Mining Camp, New Brunswick.
The highlights include a copper equivalent (Cu-Eq) of 1.34% over 44.00m, with notable sections like 3.73% Cu-Eq over 12.00m and 4.57% Cu-Eq over 9.00m.
The drill hole intersected significant mineralization, including copper, lead, zinc, gold, and silver.
The drill hole results are expected to support the expansion of The Wedge Deposit's footprint and its re-evaluation.
CEO Patrick J Cruickshank stated that the results will help plan phase 2 of the high-priority project in 2024.
Upcoming targets include California Lake Hole #10 and the Tri Bag trend.
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