- Nine Mile Metals (CSE:NINE) has completed the exercise and acquisition of its 100 per cent interest in three properties, including the California Lake, Canno Landing Lake East and Nine Mile Brook East mineral projects in New Brunswick
- This bumps the company’s rights, titles and interest in to 12 mineral claims
- To acquire the properties, the company issued 333,332 common shares at a price of $0.075 per share
- Shares of Nine Mile Metals are down 5.56 per cent to C$0.085 as of 9:32 am ET
Nine Mile Metals (CSE:NINE) has completed the exercise and acquisition of its 100 per cent interest in three properties, including the California Lake, Canno Landing Lake East and Nine Mile Brook East mineral projects in New Brunswick
In a news release, the Vancouver-based company stated it now owns 100 per cent interests in 12 mineral claims: six at California Lake; four at Canoe Landing Lake East; and two at Nine Mile Brook for a total of 38.94 square kilometres.
To acquire the properties, Nine Mile Metals issued 333,332 common shares at $0.075 per share.
The California Lake VMS Project includes four base metal occurrences and spans 35.83 square kilometres to the north of the Canoe Landing Lake Project and includes a large section of the Spruce Lake Formation.
Meanwhile, the Canoe Landing Lake East VMS property covers 5.5 square kilometres along the east flank of the Canoe Landing Lake VMS Deposit and consists of 22.8 million tons grading 0.64 per cent palladium, 1.82 per cent zinc, 0.56 per cent copper, 0.94 ounces per ton silver and 0.034 ounces per to gold.
The Nine Mile Brook property adds 9.02 square kilometres of prospective stratigraphy along the Boucher Brook Formation, which is host to the Nine Mile Brook VMS occurrence and the Canoe Landing Lake Deposit to the west.
Nine Mile Metals is an exploration company focused in the Bathurst Mining Camp in New Brunswick and is exploring its four projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East-West) VMS Project, and the Wedge VMS Project.
Shares of Nine Mile Metals Ltd. (CSE:NINE) are down 5.56 per cent to C$0.085 as of 9:32 am ET.
Join the discussion: Find out what everybody’s saying about this stock on the Nine Mile Metals Ltd. Bullboard investor discussion forum, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.