Niblack Mineral Development and Heatherdale Achieve Major Milestone

Niblack Mineral Development Inc. (TSX VENTURE:NIB) and joint venture partner Heatherdale Resources Ltd. (TSX VENTURE:HTR) announced that Heatherdale has met its initial US$5 million project investment commitment before the first anniversary date of the agreement with Niblack., and will continue to fund exploration activities to rapidly advance the precious metals-enriched Niblack volcanogenic massive sulphide (VMS) project in southeast Alaska.

The press release is quoted as saying:

Niblack Mineral Development Inc is very pleased with the progress and results of the drilling completed over the past eight months. The joint venture’s development and confirmatory work on a geological model for the Lookout Zone is revealing strength, continuity and a spatial extent of mineralization that the technical team believes represents a district-scale opportunity, when combined with a growing understanding of the overall system. Heatherdale has indicated that it fully intends to continue necessary project investments in the months ahead to secure their 51% position and move this exciting project forward efficiently and expeditiously.

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