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Nine Mile Metals Ltd ( (TSE:NINE) ) just unveiled an update.
Nine Mile Metals has reported certified assay results from drill hole WD-25-01 at its Wedge Mine in the Bathurst Mining Camp, confirming a 22.65-meter interval grading 3.83% copper equivalent and a 17.65-meter sub-interval at 4.33% copper equivalent, with notable gold and silver grades. The hole revealed a unique, multi-element VMS lens enriched in precious metals and epithermal elements, distinct from adjacent drill intersections, underscoring the dynamic nature of the Wedge deposit and suggesting potential for additional high-grade, polymetallic zones that could enhance the project’s resource profile.
The drill hole also showed strong lead and zinc mineralization, with sample intervals reaching up to 13.90% lead and 19.30% zinc and localized copper-dominant zones at the base of the VMS section. Elevated cobalt and bismuth associated with higher copper values further highlight the complex metal zonation, providing valuable geological insights that may influence future drilling strategies and the overall exploration upside for stakeholders.
The most recent analyst rating on (TSE:NINE) stock is a Sell with a C$0.08 price target. To see the full list of analyst forecasts on Nine Mile Metals Ltd stock, see the TSE:NINE Stock Forecast page.
Spark’s Take on TSE:NINE Stock
According to Spark, TipRanks’ AI Analyst, TSE:NINE is a Neutral.
The score is primarily held back by weak financial performance (pre-revenue, recurring losses, and ongoing cash burn) and bearish technical momentum (below key moving averages with negative MACD and weak RSI/Stoch). Low leverage and a still-solid equity base provide some support, but negative earnings also limit valuation confidence.
To see Spark’s full report on TSE:NINE stock, click here.
More about Nine Mile Metals Ltd
Nine Mile Metals Ltd. is a mineral exploration company focused on volcanogenic massive sulphide deposits in the Bathurst Mining Camp of New Brunswick. The company targets copper-, lead-, zinc-, gold- and silver-rich systems, seeking to expand high-grade resources at historic mines such as the Wedge deposit to strengthen its position in the base and precious metals sector.
Average Trading Volume: 1,602,558
Technical Sentiment Signal: Buy
Current Market Cap: C$16.68M
Learn more about NINE stock on TipRanks’ Stock Analysis page.