|December 17, 2009|
New High-Grade Discovery Expanded At Niblack
December 17, 2009, Vancouver, BC -- Heatherdale Resources Ltd. ("Heatherdale" or the "the Company") (TSXV: HTR) announces that thick intersections of high grade, copper-gold-zinc-silver mineralization have been encountered in underground drilling at the Niblack Project in southeast Alaska. The underground drill program is expanding the new high-grade mineral body recently discovered by CBR Gold Corp. ("CBG") at Niblack with drill holes U027 and U028. The new high-grade discovery is located southwest of the currently known mineral resources in the Lookout Deposit; one of six known volcanogenic massive sulphide deposits within the ten square mile Niblack property.
Assays from the first three holes (U029, 30, 31) of an ongoing 25,000-foot drill program have been received. Important intersections from these holes are presented below in the Niblack Assay Table and drill hole locations are shown on the long section at www.heatherdaleresources.com. Discovery holes U027 and U028 were announced by CBG (see CBG press release dated November 18, 2008) and by Heatherdale (see Heatherdale's press release dated November 17, 2009)and their results are also included for completeness in the Niblack Assay Table. The three new holes were drilled in a fan pattern from an underground set-up and were designed to cross-cut mineralization. However, to date, the true width of the intersections has not yet been accurately established. Intersections from these new holes are located up to 430 feet away from the intersection in hole U027 and up to 200 feet away from intersections in hole U028.
In addition, drill holes U032 and U034 have been completed and U033A is nearing completion; all fanned out from the same drill station. All of these holes have intersected massive sulphide mineralization and assay results from these holes will be released when they are received. Plans are to complete a series of fan drill patterns from stations positioned at intervals along the wide open extension of this newly discovered high-grade body. An additional underground drill rig has been contracted and is expected to be drilling in January 2010.
NIBLACK ASSAY TABLE
1 Copper equivalent calculations use metal prices of Cu US$1.85/lb, Au US$800/oz, Ag US$12.75/oz and Zn US$0.80/lb. CuEQ = Cu % + (Au g/t x 25.72/40.79) + (Ag g/t x 0.410/40.79) + (Zn % x 17.637/40.79). Metallurgical recoveries and net smelter returns are assumed to be 100%.
"We are very pleased with the first results received from our ongoing drill program and the inherent validation of our geological model," said David Copeland, President and CEO, of Heatherdale. "When Heatherdale recently acquired a controlling interest in the Niblack property, our senior technical team worked collaboratively with our project partners to reinterpret the geological setting of the entire property and identify prospective new deposit targets hosting high-grade mineralization. Today's assay results confirm the quality and accuracy of that geological interpretation, and represent a positive first step in advancing the opportunity at Niblack."
Niblack's location adjacent to the coast, 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 8000 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 Mining Ltd.'s Green's Creek, 2,100 ton per day underground massive sulphide mine is operating 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.
Heatherdale Resources Ltd. is a Vancouver-based exploration and development company focused on advancing the high-grade mine development opportunity at the Niblack Project. The Company has the right to retain a 51% interest in the Niblack Project from CBR Gold Corp. by expending US$15 million and an option to acquire up to a 70% interest by expending an additional US$10 million and completing a feasibility study. Heatherdale is affiliated with the Hunter Dickinson group, a private company associated with successful mineral exploration and development projects throughout the Pacific Rim.
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. Sample preparation and analysis 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 Inductively Coupled Plasma -- Atomic Emission spectroscopy (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.
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
David Copeland, P.Eng.
President and CEO
Drill Hole Intersections
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