Nine Mile Metals drills 11.65m at 7.13% copper equivalent at Wedge

Nine Mile Metals Ltd. CNSXNINE OTCMKTSVMSXF FRAKQ9 reported on Wednesday that drilling returned 7.13 per cent copper equivalent over 11.65 metres at its Wedge project in New Brunswick. The company says the result extends mineralization along the eastern edge of its drill pattern and includes 6.70 metres at 9.93 per cent copper equivalent.

Shares were unchanged at C$0.13 on the Canadian Securities Exchange at 3:51 p.m. EDT on Tuesday CNSXNINE.

The massive sulphide lens began at 130.70 metres downhole, and Nine Mile describes the reported intersections as true widths. It also reported an upper copper-stringer zone spanning 31.50 metres and averaging 0.30 per cent copper.

The company plans downhole electromagnetic surveying before follow-up drilling tests the lens along strike and at depth. Hole WD-26-18 reached 302 metres on the northeastern edge of the drill pattern in the Bathurst Mining Camp.

The main lens averaged 3.23 per cent copper and 3.80 per cent zinc. It also contained 1.43 per cent lead, 78.79 grams per tonne silver and 1.40 grams per tonne gold.

The strongest individual copper assay was 6.83 per cent over 1.00 metre, starting at 135.40 metres downhole, according to the certified assay table.

The higher-grade section sits within that lens; the release also highlights 4.80 metres at 10.46 per cent copper equivalent. The upper stringer interval starts at 68.50 metres downhole and averaged 0.40 per cent copper equivalent.

Every sample in the 6.70-metre section exceeded 8.4 per cent copper equivalent, according to vice-president of exploration and director Gary Lohman.

"With BHEM surveying scheduled, follow-up drilling will test the extent of this lens along strike and at depth," Lohman said in the release.

Nine Mile's Oct. 15 disclosure used Aug. 26 metal prices for its copper-equivalent calculations, including US$6.52 per pound copper. That earlier calculation assumed 95 per cent metallurgical recovery across all five metals and stated that equivalent grades were comparative, rather than recoverable metal estimates.

On Oct. 15, Nine Mile said approximately 11 additional holes remained to be reported from the first half of its 10,000-metre program. It planned eight perimeter-hole electromagnetic surveys to guide a second 5,000-metre phase focused on the western flank and depth.

An earlier Wedge hole, reported on Sept. 24, returned 5.09 per cent copper equivalent over 14.15 metres on the southwestern edge of the drill pattern.

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The same October update outlined two additional claim blocks at the separate Nine Mile Brook project, expanding that project to 59.50 square kilometres.

Phase 2 exploration at Nine Mile Brook is planned for May 2027.