Business
Nine Mile Metals Acquires Wedge Project Including the Wedge Copper Deposit Project
VANCOUVER, British Columbia, Feb. 16, 2023 (GLOBE NEWSWIRE) -- NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is plea
About this update from Nine Mile Metals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 16, 2023 (GLOBE NEWSWIRE) -- NINE MILE METALS LTD. (CSE: NINE, OTCQB: VMSXF, FSE: KQ9) (the “Company” or “Nine Mile”), is pleased to announce it has entered into a Mineral Property Option Agreement dated February 9, 2023 (the “Agreement”) to acquire a 100% interest in the Wedge Project from Slam Exploration Ltd. (“SLAM”). The Wedge Deposit was mined by Cominco and produced 1.503MT grading (2.88% Cu, 0.65% Pb, 1.81% Zn, 20.6 g/t Ag). The Wedge Property consists of 114 claim units covering 25 km2. The Wedge deposit was discovered by Cominco in 1957-58 after drilling an EM Anomaly Proprietary New technology (UAV 3D and AI) will be utilized to explore the entire mineralized trend at depth and along the wedge horizon including the massive western property targets. The Tribag and West Wedge occurrences have not been tested at depth and is open in all directions along the trend. The Wedge Project borders our California Lake & Canoe Landing Lake Projects and solidifies our regional land portfolio in the highly regarded BMC Saddle folds. Figure 1: Newly acquired Wedge property displaying EarthEX reprocessed TDEM data with targets. Nine Mile Metals also staked the “Three Corner Lake” property from the NB DEM eclaims. This property includes 50 claim units covering 11 km2, just west of the newly acquired Wedge Property. The (2) properties will be grouped together and be managed as “The Wedge VMS Project” under the Nine Mile Metals Portfolio Assets. Patrick J. Cruickshank, MBA CEO & Director stated, “We are pleased to add this project to our priority portfolio in the BMC. We are developing our advanced exploration program for 2023 utilizing our Technical Team’s proprietary UAV 3D & AI target extraction and machine learning analytics processes on the Project’s new and existing targets, including the former producing Wedge Copper deposit. The Wedge deposit was considered a Copper deposit so where is the rest of the VMS occurrence? (Pb, Zn, Ag & Au) We look forward to taking an advanced new approach to the Wedge deposit at depth and along our identified mineralized Wedge Trend fold. We are particularly interested in the massive western magnetic anomaly. The Wedge deposit and the mineralized fold trend is a very high priority and we cannot wait to apply our process on this deposit are...