Drilling continues to intersect & expand mineralization at Niblack
VANCOUVER, July 28, 2011 /CNW/ --
New zone with high grade gold between Lookout and Trio
VANCOUVER, July 28, 2011 /CNW/ - Heatherdale Resources Ltd.
('Heatherdale' or the 'the Company') (TSXV: HTR) announces results from
twenty-three (23) new holes completed at the Niblack volcanogenic
massive sulphide (VMS) project in southeast Alaska. Drill holes
continue to intersect and expand the precious metals enriched
mineralized zones, and are expected to increase mineral resources.
To date, Heatherdale has completed 129,985 feet of underground drilling
in 100 holes at Niblack using two rigs. At March 2011, 308 holes
(drilled from surface and underground) were used to estimate the
mineral resources for the Lookout and Trio deposits (see March 7, 2011
news release). At a US$50 NSR cut off , the estimate comprises 4.1
million tonnes of Indicated resources grading 1.13% copper, 2.32 g/t
gold, 2.27% zinc and 38.70 g/t silver and 2.5 million tonnes of
Inferred resources grading 1.21% copper, 1.77 g/t gold, 2.29% zinc and
25.90 g/t silver. A continuous 1.5 million-tonne high-grade zone
occurs within the indicated resource, grading 1.73% copper, 3.50 g/t
gold, 3.84% zinc and 61.60 g/t silver (at US$150 NSR cutoff).
The results show that the geological model for Niblack is successfully
targeting new mineralization. Key intersections were encountered in the
Lookout deposit (U128), the Mammoth zone (U112 and U114), and a new
zone between the Lookout and Trio deposits (U110, U113, U117, U121 and
U123), which are presented in the Niblack Assay Table below. Drill
hole location maps are available at www.heatherdaleresources.com.
NIBLACK ASSAY TABLE
____________________________________________________________
|Drill Hole| | From | To |Intercept| Cu | Au | Zn |Ag |
| Number | |(feet)|(feet)| (feet) | % | g/t | % |g/t|
|__________|_____|______|______|_________|____|_____|____|___|
| U110 | |1362.2|1370.0| 7.8|0.67| 1.73|0.93| 23|
|__________|_____|______|______|_________|____|_____|____|___|
| U112 | | 472.0| 491.0| 19.0|3.32| 0.49|3.14| 28|
|__________|_____|______|______|_________|____|_____|____|___|
| U112 |incl.| 472.0| 479.3| 7.3|6.78| 0.99|7.07| 59|
|__________|_____|______|______|_________|____|_____|____|___|
| U113 | |1356.5|1373.0| 16.5|0.31| 0.40|3.61| 4|
|__________|_____|______|______|_________|____|_____|____|___|
| U113 |incl.|1356.5|1366.0| 9.5|0.30| 0.48|5.16| 4|
|__________|_____|______|______|_________|____|_____|____|___|
| U114 | | 504.5| 510.2| 5.7|4.15| 0.72|1.36| 29|
|__________|_____|______|______|_________|____|_____|____|___|
| U114 | | 535.5| 540.0| 4.5|0.15| 0.24|2.28| 4|
|__________|_____|______|______|_________|____|_____|____|___|
| U117 | |1472.0|1473.0| 1.0|3.56| 0.41|0.02| 15|
|__________|_____|______|______|_________|____|_____|____|___|
| U121 | |1588.4|1592.0| 3.6|0.85| 0.42|0.82| 10|
|__________|_____|______|______|_________|____|_____|____|___|
| U123 | |1648.0|1655.8| 7.8|1.67|19.51|3.32|263|
|__________|_____|______|______|_________|____|_____|____|___|
| U123 | |1705.0|1710.0| 5.0|0.07| 1.99|0.44| 6|
|__________|_____|______|______|_________|____|_____|____|___|
| U128 | | 880.0| 885.0| 5.0|0.58| 0.77|0.27| 18|
|__________|_____|______|______|_________|____|_____|____|___|
| U128 | | 890.4| 898.4| 8.0|0.99| 2.23|1.68| 40|
|__________|_____|______|______|_________|____|_____|____|___|
| U128 | | 909.7| 954.7| 45.0|1.06| 1.66|1.85| 31|
|__________|_____|______|______|_________|____|_____|____|___|
| U128 |incl.| 910.5| 929.4| 18.9|1.90| 3.12|1.60| 57|
|__________|_____|______|______|_________|____|_____|____|___|
No significant results U105-U109, U111, U115, U116, U118-120, U122,
U125-127; assays are pending for U124B
Drilling proceeded in fan patterns from underground drill stations.
True widths of intersections have not yet been accurately established.
Lookout Deposit
Hole U128 was drilled to further define the resource model in the
southwest part of the Lookout deposit. Mineralization was encountered
three times in the hole; the most significant intersection is 45 feet
grading 1.06% copper, 1.66 g/t gold, 1.85% zinc and 31 g/t silver and
including a 19-foot interval of higher copper and gold grades.
Mammoth Zone
The exploration drift is collared into the Mammoth zone. It sits within
the prospective felsic stratigraphy, approximately 3,000 feet northwest
of the Trio deposit. Historically, narrow widths of sea floor
accumulation style mineralization were intersected in several holes in
this area but limited drill efforts had been made to extend those
intersections along strike or down dip. The Heatherdale team reviewed
the historic data and designed a series of drill fans to better assess
these mineralized zones. Significant intersections were encountered in
drill holes U112 and U114, indicating good potential. Follow up
drilling is required to delineate mineral resources at Mammoth.
New Zone between Lookout and Trio with high gold grades
A series of six holes were drilled to target deeper mineralization in
the felsic sequence that lies between the Trio and Lookout deposits,
testing an exploration hypothesis for a repetitive zone of
mineralization at depth beyond the Lookout deposit. Five of the six
holes encountered mineralization, including Hole U123, which
intersected high grade (19.51 g/t) gold, and significant silver and
copper grades of 263 g/t and 1.67%, respectively, over 7.8 feet. This
new zone will add to the overall tonnage estimate for the deposit. The
zone remains open and drill testing is ongoing.
Modeling has shown that the host horizon extends over 6 miles (10 km) on
the property, of which only about 1.2 miles (2 km) has been well tested
by the successful drilling campaigns in the Lookout area. A summer
program of surface work, including detailed geological mapping,
sampling and diamond drilling has commenced, designed to test
additional priority targets along the favorable felsic stratigraphy.
'Drilling over the past two years has affirmed the potential of the
Niblack Project. The volume and grade of mineral resources at Lookout
and Trio announced earlier this year, established a base to advance the
project. Exceptional potential exists to build on this threshold of
mineral resources as shown by today's results. Initial engineering and
technical studies for the completion of a Preliminary Economic
Assessment, as well as the foundation for a prefeasibility study for
the project are also underway,' stated Heatherdale President and CEO
Patrick Smith. 'This work is progressing well, with additional
releases of results to come over the next few months.'
Niblack's location at tidewater 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 km) 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's Greens Creek, a 2,100-ton per day underground massive sulphide
mine, operates 225 miles (370 km) to the northwest of Niblack on
Admirality 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 holds a
51% interest in the Niblack Project, is currently completing work to
increase its interest to 60%, and has an option to acquire up to a 70%
interest in the Niblack Project. The Company also holds a 60% interest,
with the option to acquire 100%, in the mid-stage Delta
copper-lead-zinc-gold-silver project, located in east-central Alaska.
Heatherdale is associated with the Hunter Dickinson group, which has a
track record of successful mineral exploration and development projects
around the world.
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
Patrick Smith
President and CEO
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.
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, 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.
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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.