Hunter Dickinson



Heatherdale Resources Ltd.

Heatherdale is a mineral exploration and development company focused on advancing its 100% owned Niblack Copper-Gold-Zinc-Silver Project. Heatherdale is publicly traded on the TSX Venture Exchange (TSXV) under the symbol HTR.

The Niblack Project is located on southeast Alaska's Prince of Wales Island. Niblack holds 6,200 acres of federal and state mineral claims, 250 acres of patented lands, and related mineral exploration permits, equipment and infrastructure that comprise the project.

Six high-grade volcanogenic massive sulphide (VMS) deposits are known to occur within the Niblack mineral claims.

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

At a US$50 net smelter return cutoff1, 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 off1, comprises 1.2 million tonnes grading 1.71% copper, 3.21 g/t gold, 3.83% zinc, 62.68 g/t silver.

Given its geological endowment and proximity to tidewater in a stable jurisdiction with a long tradition of hardrock mining, Niblack has the potential to support a high-grade underground mining operation.

1 Niblack 2011 estimates by Deon Van Der Heever, Pr. Sci. Nat., Hunter Dickinson Inc., verified by Independent Qualified Person Marek Nowak P.Eng., SRK Consulting. Net Smelter Return (NSR) cutoff uses long-term metal forecasts: gold US$1150/oz, silver US$20.00/oz, copper US$2.50/lb, and zinc US$1.00/lb; Recoveries (used for all NSR calculations) to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag. Detailed engineering studies will determine the best cutoff.



Related News

July 02, 2020:
Heatherdale Expands Technical Team, Appointing Ryan Weymark As Vp Project Development, Jim Oliver As Geologic Advisor And Graham Neale As Niblack Project Manager; Grants Stock Options
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June 16, 2020:
Heatherdale Announces Closing Of Debt Assignment And Settlement With The Appointment Of Rob Mcleod As CEO And Director
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June 11, 2020:
Heatherdale Completes Shares For Debt Arrangement
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Hunter Dickinson