Niblack Project Status
Heatherdale has the advantage of building upon the excellent work of several previous exploration companies. More than $50 million had been spent at Niblack prior to Heatherdale's involvement.
Since 2009, Heatherdale has spent approximately $37 million drilling over 200,000 feet of core. This work has substantially increased the mineral resources of this copper-gold-zinc-silver project.
The Niblack Project hosts precious metals-enriched volcanogenic massive sulphide (VMS) deposits within volcanic rocks that extend some six miles across the property. To date, six VMS target zones have been identified: Lookout, Trio, Dama, Lindsy, Mammoth and the historic Niblack mine. Collectively, the Lookout and Trio zones are estimated to have 5.6 million tonnes of Indicated and 3.4 million tonnes of Inferred mineral resources*. In 2012, the surface drilling program was successful in substantially extending the Trio zone.
The mineral resources delineated to date provide a solid basis for the initiation of engineering, environmental baseline and other technical studies necessary for project planning and permitting. Heatherdale is focused on expanding the mineral resources and making new discoveries at Niblack.
*Indicated grades 0.95% copper, 1.75 g/t gold, 1.73% zinc, 29.52 g/t silver and inferred grades 0.81% copper, 1.32 g/t gold, 1.29% zinc, 20.10 g/t silver at US$50 net smelter return cutoff, as estimated in November 2011 by D. van der Heever, Pr.Sci.Nat.