en.Wedoany.com Reported - Canadian exploration company Nine Mile Metals Ltd. (CSE:NINE) is executing its largest-ever drilling program at the Wedge Deposit in the Bathurst Mining Camp, New Brunswick, planning to drill 10,000 meters across multiple target zones, with rigs committed through year-end.
Recently completed drill holes encountered significant visible copper mineralization and discovered a previously unreported deep mineralized horizon not present in any historical records. Two completed drill holes returned significant copper-bearing intervals of 234 meters and 130 meters, respectively. The company has identified three separate mineralized lenses at the Wedge Deposit, including a high-grade copper zone with grades ranging from 5-8% copper. Nine Mile stated that the current exploration program is fully funded, with a modest 2025 drilling budget reducing near-term dilution risk for shareholders.
Patrick J. Cruickshank, CEO and Director of the company, stated that the company relies on portable XRF analysis as a preliminary screening tool for copper, lead, and zinc, while gold and silver values await confirmation from certified assay results at ALS Global Laboratories.
The deep mineralized horizon identified in recent drilling represents a brand-new discovery. Cruickshank noted that the eastern extension the company is drilling has never been mined, and its task is to prove that only the top third of the deposit was mined. The current drilling program aims to test the eastern extension, western flank, deep potential of the system, as well as two target zones: West Wedge and TriBag.
In terms of mineralization characteristics, Nine Mile has identified three separate lenses at the Wedge Deposit, including a lead-zinc-rich lens, a high-grade copper lens, and intervals with significant silver and gold grades. The company also reported the presence of antimony and indium. Mineral composition varies significantly between different lenses, with this polymetallic characteristic consistent with volcanogenic massive sulfide systems.
Regarding resource potential, the deposit has historically produced approximately 2 million tonnes, with an estimated remaining 500,000 tonnes. Nine Mile's geophysical surveys and 3D models indicate that the eastern and western extensions lie entirely outside the historical mining area and will represent new tonnage. The company's technical advisor, Apex Geoscience, is conducting a full-site review of Nine Mile's four projects, expected to provide an updated NI 43-101 technical report incorporating the 2024, 2025, and 2026 drilling programs, with the report anticipated for release in fall 2026.
The company emphasized that the 2025 drilling program is being executed under a modest budget, with no additional funding currently required to execute its 2026 program, while remaining open to strategic investments. All current results are based on visual logging and XRF screening and require confirmation from certified laboratory assays.
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