Assays from the first three holes (U029, 30, 31) of an ongoing 25,000-foot drill program have been received. Important intersections from these holes are presented below in the Niblack Assay Table and drill hole locations are shown on the long section at www.heatherdaleresources.com. Discovery holes U027 and U028 were announced by CGB (see CBG's press release dated
In addition, drill holes U032 and U034 have been completed and U033A is nearing completion; all fanned out from the same drill station. All of these holes have intersected massive sulphide mineralization and assay results from these holes will be released when they are received. Plans are to complete a series of fan drill patterns from stations positioned at intervals along the wide open extension of this newly discovered high grade body. An additional underground drill rig has been contracted and is expected to be drilling in
NIBLACK ASSAY TABLE ------------------------------------------------------------------------- Drill Hole From To Intercept Cu Au Zn Ag CuEQ(1) Number (feet) (feet) (feet) % g/t % g/t % ------------------------------------------------------------------------- U027 629.2 644.0 14.8 3.06 6.57 18.51 101 16.22 ------------------------------------------------------------------------- U028 460.8 488.3 27.5 4.11 20.03 14.03 301 25.84 ------------------------------------------------------------------------- U028 590.6 627.6 37.0 3.73 5.47 13.00 114 13.95 ------------------------------------------------------------------------- U028 incl. 618.7 627.6 8.9 5.73 10.60 12.98 177 19.80 ------------------------------------------------------------------------- U028 688.8 694.2 5.4 4.77 2.36 11.95 50 11.93 ------------------------------------------------------------------------- U029 763.7 825.1 61.4 1.40 2.40 2.81 48 4.61 ------------------------------------------------------------------------- U029 incl. 790.4 799.4 9.0 2.79 4.81 1.10 85 7.15 ------------------------------------------------------------------------- U029 incl. 815.7 825.1 9.4 2.63 4.92 9.80 108 11.06 ------------------------------------------------------------------------- U030 835.1 867.8 32.7 1.83 3.39 2.56 57 5.65 ------------------------------------------------------------------------- U030 incl. 856.0 867.8 11.8 1.96 4.34 3.38 70 6.86 ------------------------------------------------------------------------- U031 762.0 905.9 143.9 2.25 3.01 5.52 76 7.29 ------------------------------------------------------------------------- U031 incl. 809.4 905.9 96.5 2.65 3.38 7.28 90 8.84 ------------------------------------------------------------------------- U031 and 838.0 905.9 67.9 3.21 3.86 8.66 112 10.51 ------------------------------------------------------------------------- U031 incl. 847.0 895.5 48.5 3.51 4.01 10.08 109 11.50 ------------------------------------------------------------------------- U031 and 866.8 895.5 28.7 4.19 5.18 13.85 133 14.78 ------------------------------------------------------------------------- (1) Copper equivalent calculations use metal prices of Cu US$1.85/lb, Au US$800/oz, Ag US$12.75/oz and Zn US$0.80/lb. CuEQ = Cu % + (Au g/t x 25.72/40.79) + (Ag g/t x 0.410/40.79) + (Zn % x 17.637/40.79). Metallurgical recoveries and net smelter returns are assumed to be 100%.
"We are very pleased with the first results received from our ongoing drill program and the inherent validation of our geological model," said
Niblack's location adjacent to the coast, on Prince of Wales Island in southeast Alaska presents a number of 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 8000 people with important services to support project development, including a deep water port and international airport. The State's burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Alaska Department of Natural Resources' "Large Mine Permitting Team". For reference Hecla Mining Ltd.'s Green's Creek, 2,100 ton per day underground massive sulphide mine is operating 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 from CBR Gold Corp. by expending US$15 million and an option to acquire up to a 70% interest by expending an additional US$10 million and completing a feasibility study. Heatherdale is affiliated with the
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. Sample preparation and analysis is done at ISO 9001 accredited ALS Chemex laboratories in
On behalf of the Board of Directors David Copeland, P.Eng. President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (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: For further details 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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