Heatherdale Resources Ltd. Commences Underground Drilling at Niblack Copper-Gold-Silver-Zinc Project
VANCOUVER, March 16, 2021 - Heatherdale Resources Ltd. ("Heatherdale" or the "Company") (TSXV:HTR) is pleased to announce that drill and geological crews have mobilized to Heatherdale's 100%-owned Niblack copper-gold-silver-zinc VMS Project, located at tidewater in southeast Alaska. Two underground core rigs are committed to the Project that will step out along strike and down-dip from the Lookout Zone, the largest deposit that has been discovered to-date on the Property. Assays remain pending for the Q4 2020 drill program that targeted the historic Mine on the Property; results are expected from the lab in approximately one month. "We are excited to get drilling underway from the production sized underground ramp at Niblack targeting exceptional grades of copper, gold, zinc and silver mineralization along strike to the west as well as both up and down-dip stepouts from previous intercepts." said Rob McLeod, President and CEO of Heatherdale. "The Lookout Deposit is wide open for expansion, with the current Mineral Resource open for expansion from some of the highest-grade results encountered to-date on the Property."
Initial planned underground holes at the Lookout Zone will step out up-dip and along strike from previous holes U131 which intersected 12.2 meters averaging 4.1% Cu, 10.4 g/t Au, 11.6% Zn and 239.9 g/t Ag and U132 which intersected 4.1% Cu, 8.2 g/t Au, 13.1% Zn and 194.1 g/t Ag with coarse-grained, massive sulphide mineralization, hosted in felsic volcanic rocks. Additional holes on the same section will step out down-dip from U032 which intersected 1.2 meters averaging 2.2% Cu 3.5 g/t Au, 1.3% Zn and 61 g/t Ag.
Figure 1 - Planned Underground drill holes at Lookout Zone with Generalized Geology section 1525
Additionally, a pattern of holes is planned to test for the down-dip extension for the Lookout Zone, around previous hole U074 which intersected 1.5 meters averaging 2.0% Cu, 3.30 g/t Au, 23.3% Zn and 90.0 g/t Ag. These planned holes will be used to vector towards wider areas of mineralization which comprise the bulk of the resource at Niblack. The intercept in drill hole U074 is located approximately 80 meters down-dip of the current Mineral Resource.
Figure 2 - Planned Underground drill holes downdip Lookout Zone with Generalized Geology section 2200
Up to fourteen drill holes are planned as part of this program, with additional drilling dependent on visual observation of mineralization, as well as other geological controls, identified in initial holes.
QA/QC and Qualified Persons
The Qualified Person under NI 43-101 for the 2020 and 2021 exploration programs at the Niblack Project is Marilyne Lacasse, P.Geo, VP Exploration for Heatherdale Resources Ltd. Drill core is cut-in-half with a diamond saw, with one-half placed in sealed bags and shipped with a chain of custody controls to ALS Labs in Vancouver, BC or other ALS Preparatory Labs as required, for sample preparation and analysis. A rigorous Quality Control/Quality Assurance program, including the insertion of Standards and Blanks, duplicate analysis and third-party labs checks has been implemented. Robert McLeod, P.Geo, President and CEO of Heatherdale Resources Ltd., a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release, in addition to Ms. Lacasse.
About Heatherdale Resources
Heatherdale Resources Ltd.'s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Heatherdale builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska. For more information on Heatherdale, please visit the Company's website at www.heatherdaleresources.com.
On behalf of the Board of Directors
Robert McLeod, P.Geo
President, CEO and Director
CONTACT:
Rob McLeod
604-617-0616 (Mobile)
604-343-2997 (Office)
rm@bwcg.ca
Liam Morrison
604-897-9952 (Mobile)
604-343-2997 (Office)
lm@bwcg.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward?looking statements", are not historical facts, are made as of the date of this news release. Forward?looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company's securities; and changes in the Company's business plans. In making the forward-looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.
The Company's "Mineral Resource Estimate" refers to a November 2011 NI 43-101 Report authored by SRK Consulting Independent of the Company and Deon Van Der Heever, Pr. Sci. Nat., Hunter Dickinson Inc., a Qualified Person who was not independent of the Company. Net Smelter Return (NSR) cutoff uses long-term metal forecasts: gold US$1,150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag. Detailed engineering studies will determine the best cutoff.
For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
SOURCE: Heatherdale Resources Ltd.