Nine Mile Metals reports visual sulphide mineralization in third Wedge drill hole

Nine Mile Metals Ltd. (CSE:NINE, OTCQB:VMSXF, FRA:KQ9) has reported that its third drill hole of the 2026 program at the Wedge project in New Brunswick intersected visually identified sulphide mineralization, including pyrite and chalcopyrite, with laboratory assay results pending.

The company said drill hole DDH WD-26-03 was completed to a depth of 395 metres and intersected pyrite and chalcopyrite mineralization between 212.95 metres and 338.20 metres, spanning 125.25 metres. The hole was drilled to test the extension of mineralization identified in the previously reported hole WD-26-02.

According to the company, the drill hole passed through felsic volcanic rocks and sedimentary units before intersecting chloritic sediment zones containing pyrite. Nine Mile said these chloritic sediments, when associated with sulphide mineralization, are characteristic of footwall alteration in volcanogenic massive sulphide (VMS) systems.

The company reported that from 214.25 metres to 309.60 metres the drill hole encountered a felsic volcanic unit containing pyrite, minor chalcopyrite and trace arsenopyrite. Between 309.60 metres and 312.00 metres, the hole intersected 2.4 metres of massive sulphides characterized by visible coarse chalcopyrite. Nine Mile said a visual estimate suggested the interval contained approximately 40% to 50% pyrite and 4% to 7% chalcopyrite, with pyrite and chalcopyrite continuing to 338.20 metres in disseminated form.

Nine Mile’s vice president of exploration Gary Lohman said all completed drill holes at Wedge over the past two drilling seasons have intersected sulphide mineralization.

He added that the first three holes of the current program have produced nearly 490 metres of mineralized core and that the drilling results will be incorporated into the company's three-dimensional geological model and NI 43-101 work.

“With the large majority of our 10,000 meter program still ahead, we look forward to the ALS Global assays and to what the rest of the season tells us,” Lohman said.

President and Director Jonathan Holmes said the latest hole represents the deepest drilling reported at the Wedge project and intersected massive sulphides below the first two holes of the current campaign. He also noted the recent addition of geologist Art Hamilton to the exploration team, highlighting his four decades of Bathurst Camp experience across mineral exploration, mine geology and VMS deposits.

“That depth of knowledge strengthens everything we do, from targeting and geological interpretation to the core shack, where it keeps core logged, sampled and off to the lab, getting results into shareholders' hands faster,” Holmes said.

The company cautioned that visual estimates of mineralization are preliminary and should not be considered a substitute for laboratory assay results.

All drill core has been measured, logged, photographed and prepared for sampling at its Bathurst, New Brunswick facility. Samples will be sent to ALS Global's laboratory in Moncton for base metals, precious metals and antimony analysis after a preliminary portable XRF screening.

Shares of Nine Mile were up almost 6% at C$0.09 on Tuesday morning.