VANCOUVER, April 11, 2018 /CNW/ - (TSX-V: BCK) –
Blind Creek Resources Ltd. ("Blind Creek" or the "Company")
wishes to report the maiden open pit constrained NI 43-101 Resource
Estimates for the Company's 100%-owned Blende Zn-Pb-Ag Project,
situated 64 kilometres northeast of Keno Hill, Yukon, Canada. The Base Case Mineral Resource
is reported in Table 1.
Table 1. Base Case Mineral Resource (at NSR cutoff
grade of $CDN39.35 (ZnEq=2%))
|
Category
|
Cutoff
ZnEq
(%)
|
In
situ
Tonnage
(ktonnes)
|
In situ
Grades
|
In situ Metal
Content
|
|
ZnEq
(%)
|
Zn
(%)
|
Pb
(%)
|
Ag
(gpt)
|
NSR
($CDN/t)
|
OXRAT
|
Zn
(Mlbs)
|
Pb
(Mlbs)
|
Ag
(koz)
|
|
Indicated
|
2.0
|
3,650
|
5.18
|
1.98
|
1.95
|
35.7
|
101.87
|
0.08
|
159
|
157
|
4,192
|
|
Inferred
|
2.0
|
32,980
|
5.03
|
2.01
|
1.88
|
32.0
|
98.91
|
0.22
|
1,461
|
1,364
|
33,980
|
"The Blind Creek Board and Management are pleased with the new
NI 43-101 Blende Deposit Resource Estimate," states President
Brian P. Fowler, P.Geo. "While a
direct comparison with the historic 1991 Billiton resource
estimate* is not possible owing to differences in the drill hole
database, cutoff grade, metal prices, estimated metal recoveries,
payables and resource classification, it is clear that subsequent
infill and extensional drilling by Blind Creek, coupled with recent
metallurgical results and have had a very positive effect on the
Blende Mineral Resource."
"The Blende Project is a potential bulk tonnage, open pit
approach that offers some distinct cost advantages to other
advanced Pb/Zn projects in Canada,
which are typically underground. Blende Resource mineralization
outcrops at surface, is confined to 2 pit shapes approximately 2
kilometres apart (view map) and remains open in areas northwest,
southeast and below the "reasonable prospects of economic
extraction" open pit shapes. Blind Creek is positioning to conduct
a significant drill program in 2018 to test these potential open
pit extensions and step out from mineralized drill hole intercepts
at the adjacent Far West, Central, Far East and Shanghai Zones
within the 8 kilometre-long Blende mineralized corridor. Further
metallurgical testing and sampling will be undertaken to provide
for a near-term Preliminary Economic Assessment to evaluate future
mine planning, metallurgy and project economics."
*Table 2. Historic 1991 Billiton Resource Estimate (at
NSR cutoff of $CDN25)
|
NSR Cutoff
($CDN/tonne)
|
In
Situ
|
In situ Metal
Content
|
|
(ktonnes)
|
Zn
(%)
|
Pb
(%)
|
Ag
(gpt)
|
|
25
|
19,600
|
3.04
|
2.81
|
56
|
The Historic Estimate*
- is based on 100m spaced sectional
interpretation by linear projection
- uses metal prices and exchange rate of: Zn=$US0.50/lb, Pb =$US0.28/lb, Ag=$US4.25/oz, $US:$CDN=0.80
- uses recoveries for the sulfide material only of Zn=60%, Pb=85%
(west) and 80% (east) Ag=80%
- applies internal dilution based on one adjacent 3m sample of
waste
- is confined within a pit shape using a cutoff grade of
$CDN25.00 and pit slopes of 50
degrees
- is the most recent previous resource estimate
- did not have sufficient work done by the author to establish it
as a current resource
- is not treated by Blind Creek as a current resource
For additional detail on the historic resource please see our
website. (view historic resource details)
Tables 3 and 4 below summarize the Blende deposit Indicated and
Inferred Resource, respectively, at varying ZnEq cutoffs with the
Base Case highlighted at 2% ZnEq (NSR=$CDN39.35).
Table 3. Blende Deposit Indicated Mineral Resource
|
|
|
|
|
|
Pit
Area
|
Cutoff
ZnEq
(%)
|
In situ
Tonnage
(ktonnes)
|
In situ
Grades
|
In situ Metal
Content
|
|
ZnEq
(%)
|
Zn
(%)
|
Pb
(%)
|
Ag
(gpt)
|
NSR
($CDN/t)
|
OXRAT
|
Zn
(Mlbs)
|
Pb
(Mlbs)
|
Ag
(koz)
|
|
West
Pit
|
1.5
|
2,852
|
5.18
|
1.69
|
2.06
|
41.7
|
101.97
|
0.09
|
106
|
129
|
3,827
|
|
2.0
|
2,585
|
5.54
|
1.78
|
2.21
|
45.0
|
108.93
|
0.10
|
102
|
126
|
3,740
|
|
2.5
|
2,300
|
5.94
|
1.88
|
2.38
|
49.0
|
116.95
|
0.10
|
95
|
121
|
3,623
|
|
3.0
|
2,015
|
6.40
|
1.99
|
2.58
|
53.6
|
125.90
|
0.10
|
88
|
114
|
3,472
|
|
3.5
|
1,733
|
6.91
|
2.11
|
2.79
|
59.1
|
136.02
|
0.10
|
81
|
106
|
3,295
|
|
4.0
|
1,472
|
7.47
|
2.23
|
3.02
|
65.5
|
147.07
|
0.10
|
72
|
98
|
3,100
|
|
5.0
|
1,061
|
8.63
|
2.39
|
3.53
|
80.6
|
169.80
|
0.11
|
56
|
83
|
2,750
|
|
|
|
|
|
|
|
|
|
|
|
|
|
East
Pit
|
1.5
|
1,231
|
3.97
|
2.30
|
1.19
|
11.9
|
78.19
|
0.06
|
62
|
32
|
470
|
|
2.0
|
1,068
|
4.31
|
2.45
|
1.32
|
13.2
|
84.79
|
0.06
|
58
|
31
|
452
|
|
2.5
|
855
|
4.83
|
2.64
|
1.56
|
15.3
|
94.94
|
0.06
|
50
|
29
|
422
|
|
3.0
|
647
|
5.49
|
2.84
|
1.89
|
18.5
|
108.06
|
0.07
|
41
|
27
|
384
|
|
3.5
|
487
|
6.23
|
3.02
|
2.28
|
22.3
|
122.55
|
0.07
|
32
|
25
|
350
|
|
4.0
|
387
|
6.87
|
3.14
|
2.66
|
25.9
|
135.25
|
0.08
|
27
|
23
|
322
|
|
5.0
|
288
|
7.71
|
3.24
|
3.20
|
30.6
|
151.75
|
0.08
|
21
|
20
|
283
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
1.5
|
4,083
|
4.82
|
1.87
|
1.80
|
32.7
|
94.80
|
0.08
|
169
|
162
|
4,297
|
|
2.0
|
3,654
|
5.18
|
1.98
|
1.95
|
35.7
|
101.87
|
0.08
|
159
|
157
|
4,192
|
|
2.5
|
3,155
|
5.64
|
2.08
|
2.16
|
39.9
|
110.98
|
0.09
|
145
|
150
|
4,044
|
|
3.0
|
2,662
|
6.18
|
2.19
|
2.41
|
45.1
|
121.56
|
0.09
|
129
|
141
|
3,856
|
|
3.5
|
2,220
|
6.76
|
2.31
|
2.68
|
51.1
|
133.07
|
0.09
|
113
|
131
|
3,645
|
|
4.0
|
1,859
|
7.35
|
2.42
|
2.95
|
57.3
|
144.60
|
0.10
|
99
|
121
|
3,422
|
|
5.0
|
1,349
|
8.43
|
2.57
|
3.46
|
69.9
|
165.95
|
0.10
|
76
|
103
|
3,032
|
Table 4. Blende Deposit Inferred Mineral Resource
|
|
|
|
|
|
Pit
Area
|
Cutoff
ZnEq
(%)
|
In situ
Tonnage
(ktonnes)
|
In situ
Grades
|
In situ Metal
Content
|
|
ZnEq
(%)
|
Zn
(%)
|
Pb
(%)
|
Ag
(gpt)
|
NSR
($CDN/t)
|
OXRAT
|
Zn
(Mlbs)
|
Pb
(Mlbs)
|
Ag
(koz)
|
|
West
Pit
|
1.5
|
32,533
|
4.87
|
1.85
|
1.87
|
32.4
|
95.85
|
0.25
|
1,325
|
1,343
|
33,900
|
|
2.0
|
29,538
|
5.19
|
1.96
|
2.00
|
34.7
|
102.09
|
0.24
|
1,278
|
1,300
|
32,955
|
|
2.5
|
26,623
|
5.51
|
2.07
|
2.12
|
37.1
|
108.41
|
0.24
|
1,217
|
1,245
|
31,773
|
|
3.0
|
23,293
|
5.90
|
2.20
|
2.28
|
40.3
|
116.17
|
0.23
|
1,128
|
1,172
|
30,185
|
|
3.5
|
20,037
|
6.34
|
2.32
|
2.47
|
43.9
|
124.66
|
0.23
|
1,024
|
1,089
|
28,306
|
|
4.0
|
16,815
|
6.83
|
2.44
|
2.69
|
48.4
|
134.42
|
0.22
|
903
|
998
|
26,166
|
|
5.0
|
11,695
|
7.87
|
2.63
|
3.18
|
58.8
|
154.82
|
0.22
|
678
|
819
|
22,105
|
|
|
|
|
|
|
|
|
|
|
|
|
|
East
Pit
|
1.5
|
4,296
|
3.27
|
2.21
|
0.74
|
8.1
|
64.28
|
0.06
|
209
|
70
|
1,123
|
|
2.0
|
3,441
|
3.64
|
2.42
|
0.85
|
9.3
|
71.66
|
0.06
|
183
|
65
|
1,024
|
|
2.5
|
2,552
|
4.13
|
2.67
|
1.02
|
10.9
|
81.18
|
0.06
|
150
|
57
|
894
|
|
3.0
|
1,658
|
4.87
|
3.00
|
1.32
|
13.8
|
95.91
|
0.06
|
110
|
48
|
736
|
|
3.5
|
1,113
|
5.68
|
3.26
|
1.71
|
17.4
|
111.81
|
0.07
|
80
|
42
|
621
|
|
4.0
|
778
|
6.53
|
3.46
|
2.18
|
21.3
|
128.45
|
0.07
|
59
|
37
|
532
|
|
5.0
|
493
|
7.73
|
3.64
|
2.93
|
27.9
|
152.13
|
0.08
|
40
|
32
|
443
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
1.5
|
36,829
|
4.68
|
1.89
|
1.74
|
29.6
|
92.17
|
0.22
|
1,534
|
1,413
|
35,022
|
|
2.0
|
32,979
|
5.03
|
2.01
|
1.88
|
32.0
|
98.91
|
0.22
|
1,461
|
1,364
|
33,980
|
|
2.5
|
29,175
|
5.39
|
2.13
|
2.02
|
34.8
|
106.03
|
0.22
|
1,367
|
1,302
|
32,668
|
|
3.0
|
24,951
|
5.84
|
2.25
|
2.22
|
38.5
|
114.82
|
0.22
|
1,238
|
1,220
|
30,921
|
|
3.5
|
21,150
|
6.30
|
2.37
|
2.43
|
42.5
|
123.99
|
0.22
|
1,104
|
1,131
|
28,927
|
|
4.0
|
17,594
|
6.82
|
2.48
|
2.67
|
47.2
|
134.15
|
0.21
|
962
|
1,035
|
26,699
|
|
5.0
|
12,188
|
7.86
|
2.67
|
3.17
|
57.5
|
154.71
|
0.21
|
718
|
851
|
22,548
|
Mineral resources are not mineral reserves and do not have
demonstrated economic viability. There is no certainty that mineral
resources will be converted into mineral reserves.
Mineral Resource Estimate ZnEq Cutoff
Sensitivity (Base Case 2% ZnEq)
Notes for Tables 1, 3 and
4
- The Mineral Resource Estimate in this disclosure is estimated
by Moose Mountain Technical Services (MMTS), an independent mining
consulting company.
- The effective date of this Mineral Resource Estimate is
March 27, 2018 and includes all
Blende Property drill and trench results to the end of
2017.
- This Mineral Resource Estimate represents an increase over the
previous Historic (1991) Billiton resource estimate. This is
primarily due to additional drilling and increased metal prices, as
well as higher confidence in the recoveries due to recent
metallurgical testing of both oxide and sulfide material.
This deposit has an average oxide content of 21% which allows for
recovery of both sulfides and oxides at the recoveries used in this
Resource Estimate
- The Historic (1991) Billiton resource estimate was based upon
80 diamond drill holes with assay data. A total of 119
diamond drill holes with assay data and 11 trenches with channel
sampling were used in the MMTS Blende NI 43-101 Mineral Resource
Estimate. An additional 13 holes drilled in 1991 in the
periphery of the deposit were not used in the Mineral Resource
Estimate.
- Mineral Resources are not Mineral Reserves and do not have
demonstrated economic viability.
- The Mineral Resource Estimate follows Canadian Institute of
Mining, Metallurgy and Petroleum (CIM) standards definitions and
guidelines.
- There are no known environmental, permitting, legal, title,
taxation, socio-economic, marketing, political, or other relevant
factors that could materially affect the Mineral Resource
Estimate.
- The Resource has been constrained by "reasonable prospects for
eventual economic extraction" open pits. This was done by creating
a Lerchs-Grossman optimized pit using the prices, recoveries,
payables and costs as stated below. No penalties were
included.
- The Equivalent Zn and NSR metal price assumptions of:
$US1.20/lb Zn, $US1.00/lb Pb, and $US19.00/oz Ag and an exchange rate of
US$0.80 = $1CDN. Metal recoveries are based on
metallurgical studies done in 2017 on both the oxide and sulfides
material, and are: 70% Zn, 85% Pb and 90% Ag (10% to Zn concentrate
and 80% to Pb concentrate). Payables based on comparable smelter
terms and a 3% Net Smelter Return (NSR) Royalty are; 85% Zn, 95% Pb
and 80% Ag.
- Mining costs used for the "reasonable prospects of economic
extraction" pit shapes are $CDN1.88/tonne for all material within the
potential open pits. Processing, G&A, Surface Services
and Tailings costs used have a total of $CDN37.50/tonne material milled. Costs are
based on comparable Zn-Pb-Ag projects in North America. The
exchange rate is US$0.80 =
$1CDN. Open pit slopes are 45
degrees.
- The Zinc Equivalent (ZnEq) calculation uses the assumed prices,
recoveries and payables resulting in the following equation:
ZnEQ = Zn% + (Pb% * 1.0 * 0.85 * 0.95)/(1.2 * 0.70 * 0.85)
+ (Aggpt/31.1034 * 19 * 0.90 * 0.80)/(1.2 * 0.70 * 0.85 *
22.0462)
- Internal dilution is accounted for in the block model by
calculating whole block grades on 6mx6mx6m blocks.
- Quality Assurance/Quality Control (QA/QC) has been reviewed in
2013 and again in 2018 by MMTS and is considered to industry
standards.
- Geologic domains are modelled based on faulting, lithology and
grade distribution. Four domains have been modelled, with
assays composted to 3m intervals
honoring domain boundaries and capped by domain based on cumulative
probability plots. Zn, Pb and Ag grades have been interpolated
using Ordinary Kriging (OK).
- Indicated Resources must contain at least two drill holes
within 30m of the block.
Inferred Resources have at least 2 drill holes within 120% of the
Variogram Range, with extrapolation of the data limited.
- Density values are based on a correlation of (Zn+Pb) grades and
re-assayed intervals from a sampling program undertaken in the
summer of 2017.
A supporting Technical Report written in accordance with
NI43-101 will be filed on SEDAR (www.sedar.com) and on the Blind
Creek website (www.blindcreekresources.com) within 45 days.
Blende Deposit Model
The Blende deposit is a Proterozoic-aged carbonate-hosted
massive sulphide deposit with features of both Irish-type and
clastic-dominated Zn–Pb deposits (M.Moroskat et.al., Mineral
Deposita 2014) and is the largest carbonate-hosted Zn-Pb-Ag deposit
in Yukon (M. Robinson and C.I. Godwin, Economic Geology
1995).
Qualified Persons
Ms. Sue Bird, P.Eng., Principal
at MMTS is independent of Blind Creek Ltd. and a 'Qualified Person'
(Q.P.) as defined under Canadian National Instrument NI 43-101. Ms.
Bird is responsible for the Mineral Resource Estimate and directly
related information in this news release. Mr. Frank Wright, P.Eng., of F. Wright Consulting
Inc. and a Qualified Person (Q.P.) as defined by National
Instrument 43-101 is responsible for the Metallurgical Studies and
directly related information in this news release. Mr.
Bob Morris, P.Geo, Principal
Geologist of MMTS and a Qualified Person (Q.P.) as defined by
National Instrument 43-101, is responsible for all other technical
information (information not directly related to the Mineral
Resource Estimate and Metallurgical studies) in this news
release. Technical aspects of this news release have been
reviewed and approved by Ms. Bird, Mr. Wright and Mr. Morris.
About Blind Creek Resources Ltd.
Blind Creek is a Vancouver-based junior resource company
focused on Zn-Pb-Ag project acquisition, exploration and
development in Yukon (Blende
Property) and the Northwest
Territories (AB Property). The Company's flagship property
is the Blende Property in north-central Yukon, the largest carbonate-hosted Zn-Pb-Ag
deposit in Yukon (M. Robinson and C.I. Godwin, Economic Geology
1995). More recently the company has signed an agreement to
acquire a 100% interest in the AB Property, a mid-stage Mississippi
Valley Type (MVT) Zn-Pb exploration property in Northwest Territories and announced its
intention to spin out its 100%-owned, historic and fully-permitted
Engineer Gold Mine Property, situated 32 km southwest of
Atlin, B.C.
For additional information please visit the company website
www.blindcreekresources.com.
On behalf of the Board of
Directors,
Mr. Brian P. Fowler, P.Geo.
President
bfowler@blindcreekresources.com
Neither 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 news release contains certain forward looking statements
which involve known and unknown risks, delays, and uncertainties
not under the control of Blind Creek Resources Ltd. which may cause
actual results, performance or achievements of Blind Creek
Resources Ltd to be materially different from the results,
performance or expectation implied by these forward looking
statements. By their nature, forward looking statements involve
risk and uncertainties because they relate to events and depend on
factors that will or may occur in the future. Actual results may
vary depending upon exploration activities, industry production,
commodity demand and pricing, currency exchange rates, and, but not
limited to, general economic factors. 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.
SOURCE Blind Creek Resources Ltd.