VANCOUVER, BC, Nov. 18, 2020 /CNW/ - Heatherdale Resources
Ltd. ("Heatherdale" or the
"Company") (TSXV: HTR) announces that surface diamond
drilling has commenced at its 100%-owned Niblack
copper-gold-silver-zinc project, located near tidewater in
southeast Alaska. Work is also well underway on underground
rehabilitation of the production-size exploration tunnel to enable
underground drilling. At least 3,000 meters of surface and
underground drilling is planned for 2020, recommencing early in
2021.
"Our initial four to six drill holes will target extensions
to high-grade copper-gold mineralization at the historic Niblack
Mine with the objective of developing an initial resource estimate
in this area," said Robert
McLeod, President and CEO of Heatherdale.
"Underground drilling is expected to commence in early December,
targeting wide, high-grade extensions to the Lookout Deposit, the
largest resource on the Property."
Fall 2020 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.
2020 Niblack Project Drill Targets
1) Historic Niblack
Mine
Initial focus of the fall 2020 drilling program will be the
Historic Niblack Mine, located several hundred meters north of
current ineral Resources at Lookout and Trio Zones.
Direct-shipping copper mineralization was discovered at Niblack
Anchorage in 1899 with production from 1902 through 1908.
According to Alaska Territorial Government Records, 30,000 tons
were 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
to six holes are initially planned at the historic mine area.
Highlights of previous drilling at the historic Niblack mine
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 2007-08 by previous
operators. Lookout is the largest copper-gold-silver-zinc
deposit on the Property. Massive sulphide mineralization
through the core of the deposit ranges 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.
Covid-19 Protocol
Heatherdale has worked with the
State of Alaska to develop and
implement a robust Community/Workforce Protective Plan under the
guidance of Governor Dunleavy's Health Mandate 10 and recent
executive action to limit the spread of COVID-19 to Alaskan
communities and protect workers at the Niblack Project.
QA/QC and Qualified Persons
The Qualified Person under NI 43-101 for the 2020 exploration
program at the Niblack Project is 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 or other ALS Preparatory Labs as
required, 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 will be 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 is 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.
For more information, contact:
Rob McLeod
604-617-0616 (Mobile)
604-343-2997 (Office)
rm@bwcg.ca
Corporate Communications
Jasper Gatrill
778-708-0509 (Mobile)
604-343-2997 (Office)
jg@bwcg.ca
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SOURCE Heatherdale Resources Limited