Heatherdale's Drill Program Continues to Expand Precious Metals-Enriched
Volcanogenic Massive Sulphide Deposit at Niblack
VANCOUVER, July 13 /CNW/ - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV: HTR) announces that delineation drilling at the Niblack gold-copper-silver-zinc project in southeast Alaska continues to deliver superb and improving results, further expanding a newly discovered polymetallic volcanogenic massive sulphide (VMS) deposit on the Niblack property.
Since initiating mineral exploration activity in September 2009, Heatherdale has completed 35,000 feet of drilling in 23 holes from six underground drill stations. Assay results from the last 14 of these holes, released today, indicate that the precious metals-enriched system located southwest of the known Lookout deposit continues to expand and remains open in several directions.
"The assay results released today confirm the continuity of high-grade VMS mineralization at Niblack, and reflect a consistently strong and improving grade profile and growing resource base," said Heatherdale President & CEO Dave Copeland. "The findings validate our geological team's growing knowledge of the precious metals-enriched system we're seeking to delineate, and enhance our confidence that we will define a polymetallic VMS deposit with the grades, volume and other characteristics necessary to support an economically robust underground mining operation in future."
Important intersections from the 14 drill holes (U039-U052) released today are presented in the 'Niblack Assay Table' at the end of this release. Assay results from the first nine holes drilled by Heatherdale, representing 15,000 feet of drilling, were released previously (see March 19, 2010 news release). A drill hole location section is available at www.heatherdaleresources.com.
Two underground drill rigs are currently working to further expand the strike length of the newly discovered gold-copper-silver-zinc system located adjacent to the Lookout zone. The Lookout zone is one of six known VMS deposits within the 10 square mile Niblack property.
The 23 holes drilled at Niblack since fall 2009 were collared at six underground drill stations utilizing a fan pattern designed to cross cut the mineralized target horizon southwest of the Lookout deposit. To date, the true widths of the intersections have not been firmly established. Systematic, step-out drilling will continue for the balance of 2010 to expand the dimensions of the high-grade VMS deposit and demonstrate the strength and continuity of the gold-copper-silver-zinc mineralization.
"Our initial 25,000 foot drill program is complete and we're well launched on the second phase of the program," Copeland confirmed. "We fully intend to continue our investment at Niblack to move the project forward in a timely and efficient way. Over the next several months, two underground drills will complete an additional 50,000 feet of underground drilling for the purpose of further developing the geological model for the project."
Niblack's location at tidewater on Prince of Wales Island in southeast Alaska presents a number of compelling project benefits - including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners. The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.
The State of Alaska's burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Department of Natural Resources' 'Large Mine Permitting Team'. For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.
Heatherdale Resources Ltd. is a Vancouver-based exploration and development company focused on advancing the high-grade mine development opportunity at the Niblack Project. The Company has the right to retain a 51% interest in the Niblack Project and an option to acquire up to a 70% interest from Niblack Mineral Development Inc. (formerly CBR Gold Corp.) Heatherdale is affiliated with the Hunter Dickinson group, a private company associated with successful mineral exploration and development projects around the world.
NIBLACK ASSAY TABLE
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Drill Hole From To Intercept
Number (feet) (feet) (feet) Cu % Au g/t Zn % Ag g/t
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U039 1042.3 1053.4 11.1 1.08 2.13 2.38 57
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U039 incl. 1042.3 1046.2 3.9 1.21 3.96 3.71 81
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U039 1171.9 1175.8 3.9 1.67 3.32 0.61 77
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U040 1366.5 1368.2 1.7 0.60 3.55 1.32 15
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U041 1102.0 1115.7 13.7 2.30 4.09 0.94 67
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U041 incl. 1102.0 1111.0 9.0 2.60 5.18 0.90 81
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U041 1144.5 1174.0 29.5 1.06 1.38 1.17 28
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U042 1306.0 1322.0 16.0 0.54 1.07 0.63 13
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U043 No significant results
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U044 1051.0 1061.5 10.5 2.03 3.14 1.14 55
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U044 incl. 1051.0 1056.0 5.0 2.60 4.54 1.37 79
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U044 1068.6 1080.7 12.1 1.14 2.24 1.89 45
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U044 1085.0 1125.0 40.0 1.51 2.14 1.10 41
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U044 incl. 1085.0 1110.0 25.0 1.83 2.58 1.23 49
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U045 1624.5 1627.1 2.6 1.64 2.73 0.29 27
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U046A 603.0 615.9 12.9 2.44 2.57 6.06 53
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U046A incl. 603.0 608.3 5.3 3.68 4.01 8.19 79
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U046A incl. 612.0 615.9 3.9 2.45 2.13 7.83 49
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U047 1485.0 1494.8 9.8 1.74 3.09 1.09 49
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U047 1507.0 1508.9 1.9 2.23 1.95 0.18 30
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U048 596.0 599.7 3.7 1.93 3.64 2.90 70
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U049 629.6 644.6 15.0 2.86 1.68 13.09 62
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U050 634.0 664.0 30.0 1.62 2.59 1.96 64
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U050 incl. 649.5 664.0 14.5 2.07 3.74 2.15 83
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U050 and 649.5 656.5 7.0 2.40 4.26 2.25 99
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U051 No significant results
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U052 666.0 697.9 31.9 1.49 3.78 1.86 85
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U052 incl. 666.0 678.6 12.6 1.92 6.95 3.25 160
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U052 incl. 685.0 692.3 7.3 2.06 3.04 1.60 54
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Mark Rebagliati, P.Eng., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Heatherdale and has reviewed the content of this release.
On behalf of the Board of Directors
David Copeland P.Eng
President and CEO
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Sample preparation and analysis for the Niblack project is done at ISO
9001 accredited ALS Chemex laboratories in Vancouver, BC. All samples are
assayed for gold by 30 g fire assay fusion with Atomic Absorption
Spectroscopy (AAS) finish. Copper, silver, zinc, lead and 29 additional
elements are determined for all samples by four acid digestion, followed
by ICP-AES finish. All over-limit copper, zinc or lead results (greater
than 10%) and all over-limit silver results (greater than 200 grams per
tonne) are re-assayed by high grade single element four acid digestion
ICP-AES or AAS analysis. As part of a comprehensive QA/QC program, one
standard is inserted into the sample stream in each group of 20 samples,
as well as one or more field blanks in each analytical batch. One sample
in each group of 20 is a duplicate, which is analyzed by Acme Analytical
Laboratories in Vancouver.
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Neither the TSX Venture Exchange nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
For further information: on Heatherdale Resources Ltd., please visit the Company's website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114
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