High Grade Results Continue to Expand and Upgrade Lookout Zone at Niblack
04 Octobre 2010 - 2:25PM
Marketwired
Niblack Mineral Development Inc. (TSX VENTURE: NIB) ("Niblack" or
the "Company") 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. Important intersections from the next 10 holes are
presented in the Niblack Assay Table below. A drill hole location
section is available at www.niblack.com.
NIBLACK ASSAY TABLE
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Drill Hole From To Intercept Cu Au Zn Ag
Number (feet) (feet) (feet) % g/t % g/t
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U053A 618.4 653.6 35.2 2.36 2.71 4.24 70
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U053A incl. 638.3 653.6 15.3 3.39 3.41 6.68 93
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U053A 785.6 799.1 13.5 0.74 2.08 4.61 40
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U053A incl. 797.7 799.1 1.4 1.96 2.03 36.17 83
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U054 621.8 644.0 22.2 1.67 5.70 5.07 51
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U054 662.3 690.7 28.4 2.88 3.64 2.81 73
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U054 incl. 680.0 688.4 8.4 5.19 6.55 5.62 134
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U054 707.9 715.7 7.8 2.88 4.35 1.73 86
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U054 724.4 733.2 8.8 2.11 3.09 1.98 69
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U054 863.0 876.2 13.2 2.82 1.78 2.00 64
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U055B 844.7 855.0 10.3 1.74 3.85 0.49 57
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U056 898.1 900.1 2.0 1.20 2.99 3.65 49
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U057 530.0 532.0 2.0 6.14 2.13 4.90 185
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U057 811.7 812.9 1.2 4.72 10.40 15.95 131
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U058 210.0 226.9 16.9 2.36 2.65 1.38 33
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U058 incl. 221.0 223.5 2.5 3.89 8.38 1.27 78
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U059 No Significant Results
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U060 215.6 216.9 1.3 0.98 6.73 20.60 67
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U061 189.0 193.5 4.5 1.67 1.66 5.84 23
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U061 202.0 206.9 4.9 1.34 4.86 3.02 32
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U062 240.9 250.8 9.9 5.32 1.54 3.23 41
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"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
About Niblack Mineral Development Inc.
Niblack Mineral Development Inc. (TSX VENTURE: NIB) is an
exploration and development company with a number of mineral rich
assets in South East Alaska. The company's principal asset is the
Niblack advanced stage copper-gold-zinc-silver project. This
project is currently joint ventured to and operated by Heatherdale
Resources Limited, (Hunter Dickinson Company) which has the right
to earn a 70% interest in the project.
Niblack Mineral Development Inc. is a member of the Discovery
Group of companies, for more information on the group visit
www.discoveryexp.com.
On behalf of the Board
Niblack Mineral Development Inc.
John Williamson, President, CEO & Director
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration
drilling, exploitation activities and events or developments that
the company expects are forward looking statements. Although the
company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability
to obtain necessary permits, licenses and title and delays due to
third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, and
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on the Company, investors should review the Company's continuous
disclosure filings that are available at www.sedar.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."
Contacts: Niblack Mineral Development Inc. Brian Budd Director
of Corp. Development 604-646-4525 or Toll Free: 1-888-331-2269
brianb@niblack.com www.niblack.com
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