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Nine Mile Metals Ltd. reports mineral exploration developments for volcanogenic massive sulphide, or VMS, targets in the Bathurst Mining Camp of New Brunswick, Canada. The company focuses on copper, lead, zinc, silver and gold mineralization across the Wedge VMS Project, Nine Mile Brook VMS Project, California Lake VMS Project and Canoe Landing Lake East-West VMS Project.
Company news commonly covers drill program summaries, certified assay results, copper-equivalent mineralization intervals, geological modeling, borehole electromagnetic surveying and metallurgical or bulk-sample work. Technical releases reference Canadian NI 43-101 mineral project disclosure standards and describe exploration activity tied to critical minerals used in electric-vehicle and green-technology supply chains.
Nine Mile Metals (CSE: NINE, OTC: VMSXF) has completed a non-brokered private placement raising $160,000 through the issuance of 4,571,429 flow-through units at $0.035 per unit. Each unit includes one flow-through common share and one warrant, allowing purchase of one common share at $0.05 for 5 years.
Finders and brokers received 320,000 warrants (exercisable at $0.035 for 5 years) and $11,200 in cash. The proceeds will fund work programs at the company's Wedge and California Lake properties, qualifying as Canadian Exploration Expenses for flow-through mining expenditures. The securities have a four-month and one-day hold period.
Nine Mile Metals (CSE: NINE, OTC: VMSXF) has announced a non-brokered private placement to raise up to $300,000 through the issuance of up to 8,571,428 flow-through units at $0.035 per unit. Each unit includes one flow-through common share and one warrant, allowing purchase of an additional common share at $0.05 for five years.
The company may pay finder's fees up to 7% in cash and issue finder's warrants up to 7% of securities sold. Finder's warrants will be exercisable at $0.035 per share for five years. Proceeds will fund exploration activities, including drilling, core sample splitting, assays, and surveys. All securities will have a four-month and one-day hold period.
Nine Mile Metals has completed a private placement financing, raising $53,332 through the issuance of 1,066,640 units at $0.05 per unit. Each unit consists of one common share and half of a warrant, with each full warrant allowing purchase of one common share at $0.08 within 24 months. Charles MaLette, the Company's President, acquired 400,000 units. The proceeds will be used for operating expenses, including legal and audit fees and general working capital. All securities are subject to a four-month hold period.
Nine Mile Metals has initiated a diamond drill program at California Lake South to test Priority Plate Target A. The program includes three important drill holes (A-B-C), with Plate A being a deep, large conductor spanning 600 meters in length. The first drill hole will reach a maximum depth of 850 meters at an azimuth of 110 degrees and -60 degrees dip. Plates B and C are also high-priority targets, with Plate B being shallow and Plate C extending 700 meters in length with a 500-meter depth. The drilling parameters for all plates have been designed by EarthEx Geophysical Solutions.
Nine Mile Metals has provided an update on its California Lake advanced geophysical program, conducted by EarthEx Geophysical Solutions Inc. The company completed a Time Domain Electromagnetic (TDEM) survey over a high-priority target area, identifying four strong priority targets (A-D) and four medium priority targets.
Key findings include:
- A total of 18.2-line kilometers were surveyed at a line spacing of 200 meters
- Target A: A deep, strong conductor with the top of the plate at approximately 590 meters below surface
- Target B: A strong conductor located on the northeast end of extension sections, with the top approximately 65 meters below surface
- Target C: A deep, large, moderate to strong plate, with the top at 500 meters depth
- Target D: A shallow, strong conductor at a depth of 100 meters
The company has mobilized a drill rig to further explore these promising targets in the Bathurst Mining Camp.
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.