Niblack expands to Niblack project; adds Ruby Tuesday
2007-04-18 14:37 ET - News Release
Mr. Paddy Nicol reports
CLAIM HOLDINGS ON NIBLACK PROPERTY EXPANDED AND NEW PROPERTY ACQUIRED
Niblack Mining Corp. has staked additional ground at the Niblack volcanogenic massive sulphide property (VMS) property in southeast Alaska, and has also staked the nearby Ruby Tuesday property. Staking both sets of claims has been completed with the intent to secure highly prospective ground around the Niblack core group of claims and to achieve a strategic focus on VMS targets in southeast Alaska.
New Niblack property expansion
The company has staked 45 additional federal lode mining claims surrounding the core Niblack claim block. The purpose of the staking is to secure prospective ground to the north and east of the Niblack property where mapping and geochemistry suggest that fault offset extensions of the Niblack mineralized horizon lie. Ground on the northern shore of the Niblack Anchorage also offers relatively flat terrain that is suitable for potential future infrastructure development, and an access route to deeper waters.
Ruby Tuesday VMS volcanic massive sulphide property
The Ruby Tuesday VMS property consists of 120 claims totalling 2,300 acres. The property shares similar geology and mineralization style to the Niblack property, located 17 kilometres to the southeast. Previous work includes 13 drill holes (3,200 metres), with all but one of the holes intersecting significant mineralization. Highlights are:
4.2 feet (1.3 metres) grading 11.60 per cent zinc and 16.45 grams per tonne (g/t) gold;
140.1 feet (42.45 metres) grading 3.09 per cent zinc;
3.0 feet (0.9 metre) grading 3.5 per cent zinc and 2.62 per cent copper;
9.0 feet (2.72 metres) grading 8.25 per cent zinc; and
21.0 feet (6.4 metres) grading 2.62 per cent zinc, including 4.6 feet (1.4 metres) grading 10.18 per cent zinc, 1.20 per cent copper and 0.24 per cent lead.
The property includes two major zinc-copper-gold-silver showings that are separated by a distance of over 1,000 metres. Several smaller showings, located along strike and between the two main showings, are associated with a quartz-crystal rhyolite unit and define a central axis to the property. The target at Ruby Tuesday is a 10-thousand-tonne-to-20-thousand-tonne precious-metal-rich copper-zinc massive sulphide deposit.
In addition to drilling, work by various operators from 1977 to 1996 has included geological mapping, soil sampling, and both airborne and ground geophysical surveys. Review of these data has identified several drill-ready targets. Of most obvious potential is a large (600 metres by 150 metres) induced polarization (IP) anomaly that is coincident with a strong multielement soil anomaly and airborne EM (electromagnetic) conductors. Grab samples in this area have assayed up to 16.1 per cent zinc, 1.74 per cent copper, 9.48 per cent lead, 2.5 g/t gold and 76 g/t silver. The target remains largely untested, with two holes having tested only the easternmost edge of the IP anomaly. Both holes returned long intercepts (in excess of 200 feet) of disseminated and stringer sulphide mineralization, including 42.45 metres grading 3.09 per cent zinc in drill hole RT-9.
Exploration plans for 2007 include reconnaissance fieldwork including mapping and prospecting to further advance drill targets.
AI
