Niblack drills namesake VMS project in Alaska

Vancouver – A first phase exploration program to include 6,500 metres of drilling is under way at the Niblack volcanogenic massive sulphide deposit on Prince of Wales Island in southeast Alaska. Niblack Mining (NIB-V) is carrying out the program primarily to expand the Lookout zone mineralization, where drilling last year returned a 68.67-metre intersection grading 2.39 grams gold and 47 grams silver per tonne, 1.67% copper and 4.05% zinc.

The 68.67-metre intersection is the longest mineralized interval encountered at the property to date, and includes 14.1 metres of 4.55 grams gold, 71 grams silver, 3.05% copper and 7.79% zinc. The drill hole intersected three distinct massive sulphide lenses separated by stringer and disseminated massive sulphide mineralization. The mineralization remains open at depth and along strike.

While the Lookout zone is the most advanced target defined to date, the first-phase program will also test several other known massive sulphide occurrences, including the historic Niblack mine, and the Dama, Trio and Mammoth zones. The Niblack mine operated from 1905 to 1908, when about 50,000 tons grading 5% copper was processed. Gold was not recovered at that time.

Several companies, including Anaconda and Lac Minerals, explored the project from the 1970s to 1990s, with more than 25,000 metres drilled by one junior company between 1995 and 1997. Since 1995, more than $10 million has been spent to test the property, which hosts a historic resource of 2.78 million tons grading 0.089 oz. gold and 1.17 oz. silver, 1.71% copper and 3.22% zinc. This inferred resource is not compliant with National Instrument 43-101 reporting standards.

Niblack’s initial program is expected to be completed in mid-July, and will be followed by a planned underground exploration program designed to access the deeper extents of the Lookout zone’s favorable stratigraphy and also to test under-explored targets. Permitting activities will also be carried out this year. The project is located on tide-water that is open and accessible year-round.