PR Newswire
VANCOUVER, BC, Nov. 4, 2020
VANCOUVER, BC
,
Nov. 4, 2020
/PRNewswire/ – Heatherdale Resources Ltd. (”
Heatherdale
” or the ”
Company
“) (TSXV: HTR) announces that site preparations for its upcoming surface and underground drill program at its 100%-owned Niblack copper-gold-silver-zinc project, located near tidewater in southeast
Alaska
are underway. Crews arrived on site in September to rehabilitate site roads and prepare the barge camp. Drilling is expected to commence in mid-November, initially on surface using a tracked diamond drill rig with underground drilling to commence later in the program. Subject to Board of Directors’ approval of a final, comprehensive budget, at least 3,000 meters of surface and underground drilling is anticipated to be completed prior to the end of 2020, recommencing early in 2021.
Phase I drilling will test three priority areas: 1) surface drilling targeting the historic Niblack Mine, 2) down-dip Lookout extension and 3) Lookout Deposit Resource Expansion to the west.
”
Subsequent to the last drilling program at Niblack in 2012, relogging, mapping, age dating and compilation efforts have resulted in a significant geologic reinterpretation of the mineralizing system, opening multiple areas to target for exploration and resource expansion ”
said
Robert McLeod
, President and CEO of Heatherdale. ”
The new structural interpretation at the historic mine, which direct-shipped high-grade copper ore and the down-dip extension of the Lookout Zone are compelling targets; in both areas, we will be following up on previous, high-grade copper, gold, silver and zinc drill results. Finally, step out drilling at the Lookout Zone will be completed with the objective of expanding Mineral Resources.
”
Covid-19 Protocol
Heatherdale
has implemented a robust Community Protective Covid-19 Plan to protect workers at the Niblack Project and nearby communities, as recommended and accepted by Alaska State government authorities.
2020 Niblack Project Drill Targets
1)
Historic Niblack Mine
The fall 2020 drilling program will commence at the Historic Niblack Mine, located several hundred meters north of current Mineral Resources at Lookout and Trio Zones. Direct-shipping copper mineralization was discovered at Niblack Anchorage in 1899 with production commencing in 1902 and operating until 1908. According to Alaska Territorial Government Records, 30,000 tons was mined averaging 3.2% Cu, 1.3 g/t Au, and 21 g/t Ag. 22 holes were completed by previous operators.
Previous drill intercepts include: LO-065 which intersected 4.6 meters averaging 5.8% Cu, 2.3 g/t Au, 3.8% Zn and 63.2 g/t Ag, as well as LO-067 which intersected 4.9 meters averaging 5.1% Cu, 13.1 g/t Au, 4.0% Zn and 149.1 g/t Ag.
High-grade VMS-style mineralization outcrops along the shoreline adjacent to the historic workings. A geologic reinterpretation of the host-rock units, together with by radiometric age-dating has suggested that the mineralization is hosted within an overturned antiform type fold. This structure appears to plunge to the east, suggesting mineralization is wide open for expansion along trend and plunge from the historic stopes and high-grade historic intercepts. A minimum of four initial holes are planned at the historic mine area.
Highlights of previous drilling include:
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2)
Lookout Deposit Down-dip
The Lookout deposit is accessed through a production-sized underground ramp that was driven in the 2000’s by previous operators. Lookout is the largest copper-gold-silver-zinc deposit on the Property. Massive sulphide mineralization through the core of the deposit is very thick, ranging up to 100 meters in true width, with a drill-weighted average thickness of 15 meters and potentially amenable to bulk underground mining methods. Mineralization is open at depth.
Drilling will step out from previous underground hole U074, which intersected
1.5 meters of massive sulphide averaging 2.0% Cu, 3.25 g/t Au, 23.3% Zn and 90.0 g/t Ag
. Significantly, this intersection is stratigraphically underlain by a broad interval which is enhanced in gold, silver and zinc with 17.3 meters averaging 0.05% Cu, 0.46 g/t Au, 0.71% Zn and 5.5 g/t Ag. It is interpreted that this is a proximal geochemical signature that could develop into another significant massive sulphide zone. The purpose of this round of drilling is to vector towards large accumulations of mineralization.
3)
Lookout Deposit Far West Extension
Underground drilling is also planned to step-out from the current resource, targeting a significant gap in drilling that has potential to add significant tonnage at above average grades. Drill holes will target an area measuring 100 meters along strike by 75 meters of dip length, adjacent to wide and high-grade mineralization previously encountered through drilling at the Lookout Deposit. Due to the size of this area, additional step-out holes will also be completed targeting this area during early 2021.
QA/QC and Qualified Persons
The Qualified Person under NI 43-101 for the 2020 exploration program at the Niblack Project will be
Marilyne Lacasse
, P.Geo, Consulting Geologist for Heatherdale Resources Ltd. Drill core will be cut in-half with a diamond saw, with one-half placed in sealed bags and shipped with chain of custody controls to ALS Labs in
Vancouver, BC
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
Heatherdale Resources Ltd.’s founding vision 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 owns 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”
Robert McLeod
, P.Geo
President, CEO and Director
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.
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.
F
orward
–
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
.
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SOURCE Heatherdale Resources Limited
