Nine Mile rallies on New Brunswick VMS drilling results
Nine Mile Metals Ltd. [NINE-CSE, VMSXF-OTC Pink, KQ9-FSE] shares rallied Wednesday after the company announced assay results for drill hole DDH WD-26-18 at the Wedge VMS (volcanogenic massive sulphide) project in the Bathurst Mining Camp, New Brunswick.
The company said DDH WD-26-18 intersected a high-grade VMS lens, returning 7.13% copper equivalent (CuEq) over 11.65 metres, including 9.93% CuEq over 6.70 metres and 10.46% Cu-Eq over 4.80 metres. DDH WD-26-18 also returned an additional 31.50-metre copper stringer zone.
Nine Mile shares jumped 15.4% or $0.02 to 15 cents in early trading Wednesday. The shares trade in a 52-week range of 27.5 cents and $0.01.
Nine Mile Metals is a Canadian exploration company with a focus on VMS (volcanogenic massive sulphide) copper, lead, zinc, silver and gold exploration in the fabled Bathurst camp, where it has four VMS projects. They include Nine Mile Brook, the California Lake, Canoe Landing Lake (East-West) project and the Wedge project. Nine Mile has said it is aiming to position itself for the boom in electric vehicle and green technologies requiring copper, silver, lead and zinc with a hedge with gold.
The Wedge project cover 35.8 square kilometres. The Wedge deposit was mined by Cominco, producing 1.5 million tonnes of grade 2.88% copper, 0.65% lead, 1.81% zinc, and 20.6 g/t silver. Wedge borders Nine Mile’s California Lake and Canoe Landing Laike Projects and solidifies a regional land portfolio in the Bathurst Mining Camp Saddle folds.
Back in May, 2026, the company said it was launching a 10,000-metre drill program that would commence at the Wedge Mine for Phase 3 drilling, and continue to the TriBag, and West Wedge targets. It said Phase 3 would focus on newly discovered high-grade zones and target the western flank of the deposit.
In its latest press release, Nine Mile said DDH WD-26-18 was collared along the northeast edge of the drill pattern to a depth of 302 metres. “As we drilled from north along the eastern edge of the drill pattern, we continue to extend the footprint of the mineralization previously intersected in WD-24-02, WD-24-04, WD-24-05, WD-24-06 and WD-24-07,” said Nine Mile Vice-President, Exploration, Gary Lohman. “WD-26-18 best demonstrates the very high grade, multi-element nature of this deposit,’’ he said. “We have some outstanding traditional VMS mineralization. The 11.65-metre massive sulphide intersection averaged 7.13% Cu-Eq with a 6.70-metre core of 9.93% Cu-Eq in which every sample exceeded 8.4% Cu-Eq, carrying 71 to 136 g/t silver and 1.16 to 2.40 g/t gold. “Silver and gold together account for roughly a third of the in-situ value, so the Cu-Eq calculation benefits from both the base and precious metals in the VMS horizon,” Lohman said.
He said the 31.50 metres of copper stringer mineralization above the lens is also encouraging, as stringer zones of this type typically sit close to the feeder system of the VMS deposit. “With BHEM surveying scheduled, follow-up drilling will test the extent of this lens along strike and at depth.’’