Heatherdale Resources Ltd.

Niblack Overview

Niblack Project Location

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Lookout and Trio
Mineral Resource Table

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The Niblack copper-gold-zinc-silver project is located on Prince of Wales Island in southeast Alaska. The property is located near tidewater, enjoys year-round marine and floatplane access and is well-served by existing site infrastructure.

Niblack hosts six known precious-metals enriched volcanogenic massive sulphide (VMS) deposits (Lookout, Trio, Dama, Lindsy, Mammoth and the historic Niblack mine site) within a 6,200-acre property that includes 250 acres of patented lands.

Since 2009, drilling has been successful at significantly increasing resource tonnage at Niblack - the Indicated resource has grown from 2.6 million tonnes to 5.6 million tonnes and the Inferred resource has grown from 1.7 million tonnes to 3.4 million tonnes.

At a US$50 net smelter return cutoff, the November 2011 estimate comprises:
  • 5.6 million tonnes in the Indicated category grading 0.95% copper, 1.75 g/t gold, 1.73% zinc, 29.52 g/t silver; and
  • 3.4 million tonnes in the Inferred category grading 0.81% copper, 1.32 g/t gold, 1.29% zinc, 20.10 g/t silver.
Within the Indicated resources in the Lookout deposit there is a continuous high grade zone which, at a US$150 NSR cut off, comprises 1.12 million tonnes grading 1.71% copper, 3.21 g/t gold, 3.83% zinc, 62.68 g/t silver.

Exploration in 2012, involving approximately 15,500 feet of surface drilling, further extended the Trio zone.

Exploration Potential

Current mineral resource estimates include only the Lookout and Trio deposits, although there are four other known VMS deposits -- Mammoth, Dama, Lindsy and Niblack -- and other exploration potential at Niblack. All of the deposits, including Lookout and Trio, remain open.