Niblack Mineral Development Inc. ("Niblack" or the "Company") (TSX
VENTURE: NIB) and joint venture partner Heatherdale Resources Ltd.
(Heatherdale) (TSXV: HTR) announce results for 20 new underground
holes completed in the 2010 drill program at the Niblack
volcanogenic massive sulphide (VMS) project in southeast Alaska.
Highlights from the new results include:
U090 with 44.1 feet of 1.51% Cu; 1.71 g/t Au; 4.73% Zn; and 26
g/t Ag
U095 with 15.1 feet of 2.44% Cu; 2.78 g/t Au; 1.65% Zn; and 64
g/t Ag
U103 with 38.3 feet of 3.76% Cu; 5.36 g/t Au; 14.33% Zn; and 111
g/t Ag
including 14.7 feet of 7.01% Cu; 10.59 g/t Au; 20.48% Zn; and
191.93 g/t Ag
Two underground drill rigs were deployed throughout 2010, and
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 volcanogenic massive sulphide (VMS)
deposits within the 10 square mile Niblack property.
"We are rapidly advancing our knowledge of the geology and
mineralization on the Niblack Project with the ongoing two rig
underground drill program. I am very impressed that the aggressive
2010 drill program has not only extended and expanded upon the
Lookout Zone mineralization but has also encountered significant
high grade intervals as exemplified drill hole U103. I am also very
encouraged by the excellent thicknesses returning very good copper
grades, plus significant gold, zinc and silver by-products that
continue to be represented in the drill hole intercepts from the
Lookout Zone," said Niblack President & CEO John Williamson.
"Another key result is evidence that the mineralization occurs as
stacked sequences of replacement and massive sulphide zones. This
combination adds both grade and tonnage to the deposit."
The successful 2010 drill program focused on expanding resources
in the Lookout Zone. The 2011 drill program will continue with this
effort but will also involve testing other compelling exploration
targets identified by the geological team based on their growing
understanding of the geology and mineralization on the
property.
"Many of the new target areas can also be drilled from
underground by staging in the existing exploration drift, enabling
the geologic team to test the new geological model during the next
few months" stated Williamson.
The 91,800 feet of drilling in 76 drill holes that the Joint
Venture has completed at Niblack since October 2009 was achieved
from underground drill stations spaced along the adit. Holes were
laid out in a fan pattern at each station, and were designed to
cross-cut the mineralized target horizon at a number of elevations
in areas southwest and south of the Lookout deposit. To date, the
true widths of the intersections have not been accurately
established; however, a new resource model is being developed that
will corroborate the dimensions of the deposit outlined by drilling
so far. Several holes in the table without significant results
missed the prospective felsic package that hosts the
mineralization. This knowledge has been incorporated into the
deposit model and has resulted in new targets for drilling.
Important intersections from these 20 new holes are presented in
the Niblack Assay Table below. Assays from the first 56 holes
drilled (released previously) and a drill hole location section are
available on the Niblack website at
http://niblack.com/_resources/htr_nr_nibmineral_jan2011.pdf
TABLE OF ASSAY RESULTS
---------------------------------------------------------------------------
Drill Hole From(i) To(i) Intercept Au Ag
Number (feet) (feet) (feet) Cu % g/t Zn % g/t
---------------------------------------------------------------------------
U085 1147.7 1149.0 1.3 4.29 2.19 0.03 38
---------------------------------------------------------------------------
U086 1429.7 1432.8 3.1 1.08 0.48 0.04 9
---------------------------------------------------------------------------
U088 1262.1 1275.0 12.9 0.62 0.77 0.65 6
U088 1400.6 1405.1 4.5 0.19 0.07 4.02 1
U088 1455.5 1460.2 4.7 1.58 0.14 0.02 2
---------------------------------------------------------------------------
U089 828.5 831.8 3.3 6.91 10.54 3.38 214
U089 840.7 843.6 2.9 1.21 0.23 0.03 15
U089 1030.0 1034.9 4.9 2.34 0.30 0.04 7
---------------------------------------------------------------------------
U090 1099.1 1167.0 67.9 1.37 1.22 3.53 22
U090 incl. 1100.9 1145.0 44.1 1.51 1.71 4.73 26
U090 1245.0 1260.0 15.0 1.44 1.40 1.52 27
---------------------------------------------------------------------------
U095 1105.0 1114.2 9.2 1.63 1.21 1.05 44
U095 1120.8 1139.8 19.0 2.09 2.59 1.41 57
U095 incl. 1120.8 1135.9 15.1 2.44 2.78 1.65 64
---------------------------------------------------------------------------
U101 387.5 390.4 2.9 0.58 8.51 13.25 99
U101 460.0 471.6 11.6 0.60 0.45 2.40 3
U101 476.5 480.0 3.5 1.22 0.40 0.18 2
U101 485.0 490.0 5.0 1.16 0.31 0.23 1
U101 679.0 682.3 3.3 0.63 1.55 1.46 15
---------------------------------------------------------------------------
U103 377.7 386.0 8.3 3.63 1.40 4.57 36
U103 426.7 465.0 38.3 3.76 5.36 14.33 111
U103 incl. 434.8 449.5 14.7 7.01 10.59 20.48 192
---------------------------------------------------------------------------
U104 1240.2 1241.8 1.6 1.62 0.36 0.05 11
U104 1248.1 1249.1 1.0 1.73 0.18 0.03 10
---------------------------------------------------------------------------
No significant results in holes U087, U091 - U094, U096 - U100 and U102
---------------------------------------------------------------------------
(i)Holes are drilled in a fan pattern from stations spaced along an adit
and are drilled with a range of different azimuths and dips.
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.
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 Corporation'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 (a Hunter Dickinson Company) which has the right
to earn up to 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
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.
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 or Mobile URL: m.niblack.com
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