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Nine Mile Metals Ltd ( (TSE:NINE) ) just unveiled an update.
Nine Mile Metals has completed its third drill hole, DDH WD-25-02B, in the Wedge Western Extension program in New Brunswick, intersecting 66 metres of copper-rich VMS mineralization from about 56 metres down to the end of the hole at 122 metres. The hole, drilled northwest of a previous collar, extended the mineralized footprint to the west and encountered massive copper-bearing sulphides with visible chalcopyrite in both sedimentary and volcanic host rocks, but had to be terminated in a strongly mineralized zone due to difficult ground conditions in a fault zone. Core from the hole has been logged, sampled and shipped to ALS Global for expedited base and precious metals assays, while the technical team designs a follow-up hole from the opposite side of the fault for a 2026 drill phase to better test the thickness and scale of what management describes as an increasingly impressive, high-grade copper zone at the Wedge project.
Spark’s Take on TSE:NINE Stock
According to Spark, TipRanks’ AI Analyst, TSE:NINE is a Underperform.
Nine Mile Metals Ltd faces critical financial difficulties, with no revenue and ongoing losses resulting in low financial performance. The technical analysis shows a bearish outlook, compounded by poor valuation metrics. However, recent corporate actions, such as financing and leadership changes, provide a glimmer of hope for improved future performance. Overall, the stock carries significant risk due to its current financial instability.
To see Spark’s full report on TSE:NINE stock, click here.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a Canadian mineral exploration company focused on volcanogenic massive sulphide (VMS) deposits, particularly copper-rich systems that also host lead, zinc, silver and gold. The company is advancing projects in New Brunswick’s Bathurst mining camp, targeting high-grade, polymetallic mineralization with systematic drilling and modern analytical techniques.
YTD Price Performance: 825.00%
Average Trading Volume: 1,314,982
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$15.66M
Learn more about NINE stock on TipRanks’ Stock Analysis page.