Niblack Mineral Development Inc. (TSX VENTURE:NIB) and joint venture partner Heatherdale Resources are pleased to announce assay results from 10 additional holes completed at the Niblack volcanogenic massive sulphide (VMS) project in southeast Alaska.
Two underground drill rigs are currently working to expand the precious metals-enriched mineralized body located adjacent to the Lookout Zone. The Lookout Zone is one of six known VMS deposits within the 10 square mile Niblack property.
To date 45,000 feet of drilling has been completed on the project. Assays from the first 24 holes drilled by the joint venture were released previously and are reported on the Niblack website. A drill hole location section is available at www.niblack.com.
"In addition to expanding and upgrading areas of known mineralization at Niblack, the significance of these results is that we've now extended the Lookout Zone to both the south and southwest and connected it to the high-grade VMS core that the joint venture discovered earlier this year," stated Heatherdale President & CEO Dave Copeland.
"Our drill program continues to progress methodically and efficiently, and we continue to target and successfully intersect VMS mineralization that is strongly enriched with precious metals. All of these results validate our geological teams' growing understanding of this system, and all of them strengthen our belief that Niblack will support a high-grade underground mine in future."
The 34 drill holes that the joint venture has completed at Niblack since October 2009 were achieved from seven underground drill stations. A fan pattern, designed to cross-cut the mineralized target zone, was initiated from each of the stations to test the area southwest and south of the Lookout deposit. To date, the true widths of the intersections have not been accurately established. Systematic, step-out drilling continues to expand the dimensions of the precious metals-enhanced mineralized body and is demonstrating the strength and continuity of the sub seafloor replacement and massive sulphide seafloor accumulation style mineralization.
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 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'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 kilometres) to the northwest of Niblack on Admiralty Island.
Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.
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.
To view the figures mentioned in this release, please click on the following link: http://niblack.com/_resources/HTR_NibMineral_NR_Sep2010.pdf