Heatherdale Resources Ltd. earned the right to retain a 51% interest in the Niblack copper-gold-zinc-silver project in southeast Alaska in July 2009 in consideration of a commitment to invest US $15 million within three years to advance the project. It also holds options to increase its ownership position to 60% by investing an additional US $10 million and to 70% by funding completion of a feasibility study.
Heatherdale began trading on the TSX Venture Exchange (symbol HTR) in November 2009 after completing a $15 million financing to fund development of the Niblack Project.
The Niblack property has been the focus of extensive mineral exploration activity over the past 34 years -- including 195,000 feet of drilling in 246 holes, as well as historic mine operations from 1905-08.
Since acquiring the Niblack Project, Heatherdale's senior technical team has reinterpreted geological data from the property and is advancing an exploration program with excellent potential for delineating significant deposits of high-grade mineralization.
