VANCOUVER, BC, Nov. 4, 2020 /CNW/ - 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:
Hole-ID
|
From
(m)
|
To
(m)
|
Width
(m)
|
Cu
%
|
Au
g/t
|
Zn
%
|
Ag
g/t
|
NIB-3
|
158.5
|
160.3
|
1.8
|
3.16
|
1.21
|
0.07
|
23.8
|
LO-064
|
45.6
|
46.4
|
0.9
|
8.36
|
0.84
|
0.82
|
36.1
|
LO-065
|
18.9
|
23.5
|
4.6
|
5.77
|
2.31
|
3.81
|
63.2
|
and
|
31.1
|
39.0
|
7.9
|
2.97
|
1.67
|
1.54
|
20.6
|
LO-066
|
128.0
|
145.5
|
17.5
|
1.46
|
0.87
|
0.65
|
14.5
|
and
|
162.8
|
167.3
|
4.6
|
1.53
|
2.34
|
13.11
|
17.6
|
and
|
183.2
|
187.2
|
4.0
|
3.26
|
1.19
|
0.34
|
25.1
|
LO-067
|
239.3
|
244.1
|
4.9
|
5.08
|
13.15
|
4.01
|
149.1
|
and
|
256.3
|
257.9
|
1.5
|
2.49
|
10.63
|
9.11
|
36.6
|
LO-169
|
124.4
|
126.0
|
1.6
|
11.64
|
5.14
|
2.62
|
89.9
|
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. 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.
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SOURCE Heatherdale Resources Limited