Heatherdale Continues Successful Drilling at Niblack
October 31, 2011, Vancouver, BC – Heatherdale
Resources Ltd. (“Heatherdale” or the “Company”) (TSXV:HTR) announces additional positive results from
delineation and exploration drill holes completed during the 2011 spring and summer program at the
Niblack volcanogenic massive sulphide (VMS) project in southeast Alaska. Significant intersections of
copper, gold, zinc and silver were encountered in several of the holes.
Highlights include:
Hole
U131 – 26.8 feet of 4.66% Cu; 13.57 g/t Au; 15.26% Zn; and 302 g/t Ag
Hole U132 – 44.6 feet of 2.54%
Cu; 5.54 g/t Au; 10.96% Zn; and 126 g/t Ag
Hole U136 – 35.7 feet of 4.60% Cu; 5.68 g/t Au; 10.00% Zn;
and 141 g/t Ag
Three drill rigs were utilized to complete the 21,300 feet of drilling described in
this news release. Two underground drill rigs were active continuously throughout the program, to
explore for and delineate resources in the Lookout and Trio Zones. Several of the holes were directed
toward collection of samples for metallurgical testwork. In addition in May and June 2011, a
helicopter-supported surface drill rig was added to the program to test several of the compelling
exploration targets in the area of the historic Niblack Mine, as well as the Trio and Broadgage
zones.
“The 10 delineation holes drilled from underground in the Lookout Zone have reaffirmed the
robustness of the mineralization at Niblack,” stated Pat Smith, President and CEO. “Drill core collected
from this program will also be utilized to advance our understanding of the project metallurgy, and
support engineering studies toward completion of a Prefeasibility Study. The additional data and
information received from these drill holes will be incorporated into a new resource estimate that will
be completed shortly.”
Smith added, “I am extremely pleased with the results of the 10 exploration
holes – three of which were drilled from underground and seven from surface. These holes are confirming
the excellent potential of the stratigraphy that hosts mineralization at Niblack, and have validated the
application of the new geological interpretation.”
Three exploration holes drilled from underground
firmly established the continuity of the mineralization hosting felsic horizon between the Lookout and
Trio zones as well as to the northwest of the Lookout Zone, and have also provided positive indicators
for the next stage of drilling in these areas.
Of the seven surface exploration holes reported here,
six tested the felsic horizon in the Trio-Broadgage area and one hole targeted the area proximal to the
historic Niblack Mine. The detailed geologic model has been validated from this drilling and six of the
seven holes intersected sulphide mineralization that will guide the next round of exploration drilling.
The mineralization encountered in hole S148, which intersected 22 feet grading 0.53% copper and 1.54 g/t
gold, has provided important information about the plunge direction of the mineralization in the Trio
zone.
Important intersections from these 20 new holes are presented in the Niblack Assay Table
below. Assays from these as well as the first 100 holes drilled (released previously) and a drill hole
location section are available on the Heatherdale website at
http://www.heatherdaleresources.com/hdr/Sections_Plans.asp.
NIBLACK ASSAY TABLE
To view the
entire news release including tables, please follow the
link:
http://www.irw-press.com/dokumente/Heatherdale_311011_ENGLISH.pdf
Holes denoted with a “U”
above were drilled from stations spaced along an adit and are drilled with a range of different azimuths
and dips. Holes denoted with an “S” were drilled from surface. Underground drilling proceeded in fan
patterns from drill stations. True widths of intersections have not yet been accurately
established.
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.
Mark Rebagliati, P. Eng., a Qualified Person as defined under National Instrument
43-101, is supervising the exploration and quality assurance and quality control programs on behalf of
Heatherdale and has reviewed the content of this release.
About Heatherdale Resources
Ltd.
Heatherdale Resources Ltd. (TSX-V: HTR) is a Vancouver-based exploration and development company
focused on advancing the high-grade mine development opportunity at the Niblack Project. The Company
holds a 60% interest in the Niblack Project, and a 60% interest in the mid-stage Delta
copper-lead-zinc-gold-silver project, located in east-central Alaska. Heatherdale is associated with the
Hunter Dickinson group, which has a track record of successful mineral exploration and development
projects around the world.
For further details on Heatherdale Resources Ltd., please visit the
Company’s website at www.heatherdaleresources.com or contact Investor Services at (604) 684-6365 or
within North America at
1-800-667-2114.
On behalf of the Board of Directors
Patrick
Smith
President and CEO
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.
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.
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.
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