Nine Mile Metals Hits 5.09% Cu-Eq Over 14.15m at Wedge Mine
VMSXF has more than doubled off its 52-week low of $0.004 on light trading volume (0.4× avg).
Summary
Nine Mile Metals reported high-grade VMS assay results from drill hole WD-26-14 at the Wedge Mine: 5.09% Cu-Eq over 14.15 meters, including 6.35% over 9m and 7.45% over 6m. The peak sample returned 8.59% Cu-Eq with 3.41% Cu, 2.29% Pb, 11.30% Zn, 55 g/t Ag, and 0.829 g/t Au. Grades strengthen with depth, and the company is launching eight BHEM surveys to guide a second round of drilling. This is a significant intercept for a micro-cap explorer and supports the thesis of a substantial VMS system at Wedge. The next catalyst is the BHEM survey results, expected within 24 hours of processing.
At the time of this announcement, VMSXF was trading at $0.07 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $14.2M. The 52-week trading range was $0.00 to $0.21. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.