Codelco reaches contract agreement with project unit employees
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Vancouver, British Columbia--(Newsfile Corp. - June 30, 2022) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: STVGF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce it has received final permit approval from the NB Department of Energy & Mining for its two (2) borehole EM ("BHEM") surveys at its recently completed stage #1 drill program at its flagship Nine Mile Brook VMS Project in Bathurst Mining Camp, New Brunswick ("BMC"). Nine Mile drilled one DDH specifically for the BHEM survey to define the Target Zone #1 VMS Body and any additional stacked, clustered, or mineralized subsurface bodies/folds in the area. The second DDH for the BHEM survey is 250m to the north (Target Zone #2) and is located along a proposed horizon just south of the California Lake Group target contact area. These DDH's are approximately 200m+ in length and were specifically located away from the target body in order to obtain a clean, uninterfered electronic analysis of the area. They typically reach 720 degrees in all directions and with the two (2) DDH's we expect very good coverage for an estimated 600m area.
Figure 1
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Nine Mile has awarded the contract to Eastern Geophysics Ltd. ("Eastern") based out of Nova Scotia, and who are the premier geophysics company in the Maritimes. Initially, Eastern will lay out a 400 x 400-meter loop then survey the boreholes with a highly advanced Crone Time Domain Pulse EM system will provide a 3D analysis along the extent of the prospective horizon, a surface distance of over 750 meters. To assist in defining the optimum survey parameters, 18 drill core samples from 3 different drill holes have been shipped to EarthEx Geophysical Solutions ("EarthEx") in Selkirk, Manitoba for physical properties analysis including electromagnetic conductivity, electrical resistivity and chargeability, density, porosity and magnetic susceptibility. The samples submitted included both Cu and Pb/Zn mineralization in addition to samples of the country rock. EarthEx will review the data and characterize the groups properties, the samples of country rock providing the necessary contrast to the mineralized bodies facilitating target definition at Target Zone #1 and elsewhere on the property. This data will not only assist in defining the survey parameters, it will also allow for more accurate inversion and modeling. Daniel Card, President and Chief Geophysicist of EarthEx will be coordinating with Brian d'Entremont, General Manager at Eastern, to define the location of the 400 x 400-meter loop and ideal survey frequencies.
The following image taken from the Crone Geophysics website shows the wide range of conductivities that can be detected by the Crone system. VMS Style deposits will be within the High Conductivity spectrum of the analysis.
Figure 2
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"The BHEM survey is key to defining additional subsurface mineralization in Target Zone #1 which we believe exists along the prospective horizon. The results from the survey and the physical property information will also provide ideal baseline data when exploration commences immediately to the north within the larger and highly prospective California Lake Group of rocks that crosscuts the project area, "stated Gary Lohman, B.Sc., P. Geo. who acts as the Company's Qualified Person, a member of Nine Mile's Technical Advisory Committee.
Eastern Geophysics expects to mobilize the week of July 11th, 2022 from their Nova Scotia location. They will complete the BHEM survey in 5-6 days and will deliver their interpretated report, images, and summary shortly thereafter.
Patrick J Cruickshank, MBA - Director & member of Technical Advisory Committee stated, "EarthEx Geophysical Solutions has been integral in the recommendation of Eastern Geophysics, survey design and DDH location definition and will integrate the raw survey data directly and apply their proprietary processing and interpretation, into the Nine Mile Brook VMS Project exploration model. We are proceeding with our disciplined technology centric exploration program, and this is the final piece in the phase #1 3D model which should be completed after this BHEM survey data is collected. We should have all VMS mineralized targets defined very shortly on the Nine Mile Brook VMS Project not just recently drilled Target Zones #1 & #2. This VMS project has multiple systems and many high priority defined targets. We look forward to sharing this information shortly."
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. who acts as the Company's Qualified Person, a member of Nine Mile's Technical Advisory Committee, 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.
"Charles MaLette"CEO, President, Director & SecretaryT: 604-428-5171E: [email protected]
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) EarthEx will review the data and characterize the groups properties from 18 drill core samples from 3 different drill holes, and that his data will not only assist in defining the survey parameters, it will also allow for more accurate inversion and modeling, (b) Daniel Card, President and Chief Geophysicist of EarthEx will be coordinating with Brian d'Entremont, General Manager at Eastern, to define the location of the 400 x 400-meter loop and ideal survey frequencies, (c) Eastern Geophysics Ltd. will lay out a 400 x 400-meter loop then survey the boreholes with a highly advanced Crone Time Domain Pulse EM system that will provide a 3D analysis along the extent of the prospective horizon, a surface distance of over 750 meters, (d) Eastern Geophysics expects to mobilize the week of July 11th, 2022, that they will complete the BHEM survey in 5-6 days and will deliver their interpretated report, images, and summary shortly thereafter, and (e) the BHEM survey is key to defining additional subsurface mineralization in Target Zone #1 which we believe exists along the prospective horizon. 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.
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