Nine Mile Metals (CSE:NINE) is raising up to C$4 million ($4.33 million) through a private placement to fund exploration activities at its assets in the Bathurst Mining Camp in New Brunswick, Canada.
The company will issue up to 21.05 million units at an issue price of C$0.19. Each unit comprises one common share and one purchase warrant, with each warrant exercisable into one share at C$0.30 for a two-year period.
The placement is expected to close on or around 13 January 2026.
The company’s project portfolio spans four assets in the Bathurst Mining Camp district, including California Lake, Canoe Landing Lake West, Nine Mile Brook, and the Wedge Project.
As reported by Mining.com.au, Nine Mile outlined the Wedge Project as ‘copper-rich’ after receiving sample assay results from a pre-drill area.
Assays returned up to 15% copper, 1.76% lead, 2.17% zinc, 0.71 grams per tonne gold, 48.10g/t silver, and 16.64% copper-equivalent.
Drilling was conducted ahead of Christmas in order to help identify the size and scale of mineralisation at the project.
Nine Mile Metals is a diversified mineral explorer focused on discoveries in the Bathurst Mining Camp district in New Brunswick, Canada.
Write to Maddison Elliott at Mining.com.au
Images: Nine Mile Metals
