VANCOUVER, British Columbia, Dec. 05, 2023 (GLOBE NEWSWIRE) — NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to announce the submission and conditional approval of its Nine Mile Brook Lens Bulk Sample Permit to the NB DEM, for the Nine Mile Brook Lens Bulk Sample Project.
- Nine Mile Metals has received conditional NB DEM Bulk Sample Permit Approval “Pending submission of the Gemtec Reclamation Plan Design”, which is expected to be completed within a few days.
- The Gemtec “Water, Sediment & Flow Testing Baseline Results Report” will be used to support the Reclamation Plan and has been submitted to the NB DEM.
- GEMTEC has completed and delivered the Nine Mile Brook Bulk Sample Engineering Site Plan, in support of the permit process which has been submitted to the NB DEM.
- Nine Mile Metals has now contacted necessary program vendors for firm quote costs in support of the site plan and will define its cost benefit analysis for the Bulk Sample Program Project.
FIGURE 1: Nine Mile Brook Lens Bulk Sample Site Plan
Patrick J. Cruickshank, CEO and Director, stated, “We are pleased to advance our Nine Mile Brook Lens bulk sample program into the execution stage. Nine Mile has received conditional permit approval from the NB DEM pending final submission of its Reclamation Plan which we should receive from GEMTEC in the next few days. We have reached out to our bulk sample excavation vendors of choice and are receiving firm costs and will be able to determine our project cost benefit analysis. With our high ore grade and current mineral rock values, this is a significant financial return for Nine Mile Metals, and we’re looking forward to our next update.”
FIGURE 2: Road and detailed site design components
Nine Mile Metals VP Exploration and Director, Gary Lohman, B.Sc., Geo., stated that, “The team is very pleased with the site plan designed by GEMTEC. In addition to good access, the overall footprint, at approximately 100 x 160 meters, is compact and utilizes previously excavated ground to minimize environmental disturbance. We look forward to receiving final permitting and commencing work in early 2024.”
Kevin B. Hicks, Director stated, “Entering the execution phase of the Nine Mile Brook Bulk Sample Project is a significant milestone for Nine Mile Metals. The net revenue associated with the completion of this project should place Nine Mile Metals on a solid financial footing for a significant period of time.”
FIGURE 3: Retention Pond Detailed Design
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and reviewed and approved by Gary Lohman, B.Sc., P. Geo., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company.
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on Critical Minerals Exploration (CME) VMS (Cu, Pb, Zn, Ag and Au) exploration in the world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS; California Lake VMS; Canoe Landing Lake (East–West) VMS and the Wedge VMS Projects. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.
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ON BEHALF OF NINE MILE METALS LTD.
“Patrick J Cruickshank, MBA”
CEO and Director
T: +1.506-804-6117
E: [email protected]
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) the Gemtec Water, Sediment & Flow Testing Baseline Results Report will be used to support the Reclamation Plan, (b) we have reached out to our bulk sample excavation vendors of choice and are receiving firm costs and will be able to determine our project cost benefit analysis, (c) Gemtec Reclamation Plan Design is expected to be completed within a few days, (d) the net revenue associated with the completion of this project should place Nine Mile on a solid financial footing for a significant period of time, (e) we look forward to receiving final permitting and commencing work in early 2024, and (f) with our high ore grade and current mineral rock values, this is a significant financial return for Nine Mile, and we’re looking forward to our next update. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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