Nine Mile Metals Ltd Stock Price, News & Analysis

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) provides a significant update on its drilling program at the Nine Mile Brook VMS Project in New Brunswick. Following a comprehensive 21-line kilometer Induced Polarization (I.P.) survey, the company has proposed 18 high-priority drill holes to target various conductive anomalies. Initial drill holes have shown promising signs of mineralization, including disseminated sulphides and a coherent conductive trend, indicating minimal transport from the local source. The project aims to explore critical minerals in a target-rich environment, with expectations for further analysis and updates on drill results.

Nine Mile Metals Ltd. has reported positive assay results from the California Lake VMS Project, with significant intersections of VMS mineralization found in drill holes CL2208 and CL2211. The notable findings include a 10.90m mineralized zone in CL2211 and 7.17m in CL2208, primarily containing Zn, Ag, and Au. The results indicate a robust mineralized system, open along strike and depth. CEO Patrick J Cruickshank expressed optimism for further exploration in 2023, targeting a 1.5 km trend. These results align with typical Bathurst Mining Camp characteristics, revealing strong mineralization potential.

Nine Mile Metals Ltd. has announced positive assay results from its Phase 1 drill program at the California Lake VMS Project. Drill hole CL2206 identified four mineralized zones, while CL2207 revealed six zones, both showing significant levels of Silver (Ag) and Gold (Au). CEO Patrick J. Cruickshank expressed optimism about the results and the potential for further exploration, fueled by a recent funding of $1,271,000. The company plans to drill priority targets along a 1.5 km trend in 2023, supported by advanced geophysics.

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) has completed a private placement, raising a total of $1,271,000. The final tranche involved the issuance of 1,562,500 flow-through units at $0.32 each, generating $500,000. Each unit comprises one common share and half a warrant, with the latter entitling purchase at $0.45 for two years. Proceeds will fund exploration on the company's mineral properties in New Brunswick, focusing on critical minerals like copper and zinc essential for green technologies.

On December 13, 2022, Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) announced the completion of a $1,200,000 private placement, raising $600,000 through the sale of 1,875,000 flow-through units priced at $0.32 each. The total proceeds from this offering now stand at $771,000. Each unit includes a common share and a half warrant, with warrants priced at $0.45, valid for 24 months. Funds will support exploration activities on its mineral properties.

Nine Mile Metals has announced positive XRF results from its recent drilling at the California Lake VMS Project in New Brunswick, indicating significant mineralization. Drill Hole CL22-12 intersected 7 zones of massive VMS mineralization with notable zinc percentages, including a high of 19.49% Zn. Drill Hole CL22-13 confirmed the mineralization's depth extension with 4 additional zones. Both holes suggest the mineralized area is open along strike and depth, showing promise for future exploration. The full assay results, particularly for silver and gold, are pending from ALS Global Labs.

On December 7, 2022, Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) announced the completion of a private placement, raising approximately $1,200,000. This first tranche involved the issuance of 534,375 flow-through units at $0.32 each, yielding total proceeds of $171,000. Notably, President Charles MaLette invested $96,000 in the offering. Each unit includes a common share and a warrant priced at $0.45, valid for 24 months. The funds will support exploration on its mineral properties, particularly in the Bathurst Mining Camp, focusing on VMS resources.

Nine Mile Metals Ltd. (CSE: NINE, OTCQB: VMSXF) has reported promising XRF results from its Phase 1 drilling program at the California Lake VMS Project in New Brunswick. The results indicate significant zones of massive VMS mineralization, particularly in holes CL2211 and CL2208, with high combined lead-zinc levels. Notably, individual sections show zinc concentrations up to 15.12%. The company plans to analyze and report further assay results, including precious metals, after receiving data from ALS Global Labs. This suggests a strong foundation for future exploration plans in 2023.

Nine Mile Metals Ltd. has received a full grant for metallurgical analysis from the National Research Council of Canada Industrial Research Assistance Program. The analysis, conducted by RPC Science & Engineering, focuses on recovery possibilities for the upcoming 2000-3000 Tonne bulk sample at its Nine Mile Brook VMS Lens project. The study aims to define mineralogy and liberation size, utilizing advanced techniques like Scanning Electron Microscopy. The findings are expected to optimize recovery methods and enhance the project's commercial viability.