Overview

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.

Figure 1: Niblack project location map.

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. All of these known mineral occurrences are open for exploration.

Highlights:

  • Advanced stage Cu-Au-Zn-Ag VMS project with Blackwolf Copper and Gold holding 100% interest in the property.
  • Abundant existing infrastructure including a road network, over one-kilometer of underground workings allowing for year-round drilling, a dock, barge, power generation and a newly built land camp.
  • 43-101 resource estimate completed by SRK in 2011 for the Lookout and Trio deposits including a high-grade Indicated core at the Lookout Deposit of 1.2Mt at 1.7% Cu, 3.2 g/t Au, 3.8%Zn and 62.6 g/t Ag within 5.6 MT Indicated containing 317Koz Au and 118 Mlb Cu, along with 3.4 Mt Inferred. This resource does not include 2012, 2020, or 2021 drilling with a planned resource update in 2022.
  • 2020 Niblack zone drill highlights include 7.59 meters averaging 5.2% Cu, 27 g/t Au, 145.1 g/t Ag and 6.5% Zn in hole LO20-215.
  • 2021 Lookout deposit drill highlights include 27.0 meters averaging 1.1% Cu, 1.9 g/t Au, 32.8 g/t Ag and 1.0% Zn (3.1% Cu Eq) including 4.0 meters averaging 2.61% Cu, 4.93 g/t Au, 76.58 g/t Ag, and 2.34% Zn (7.69% Cu Eq).
  • All six known mineral occurrences at Niblack are open for exploration with soil anomalies on the far east end of the property and updated geologic interpretation suggesting at least 3 km of along-strike exploration potential.

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 higher 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 known six zones at Niblack remain open and are candidates for further resource expansion. A reinterpreted geologic model for the property by Heatherdale geologists in 2013 opened up new potential exploration areas according to the reprojection of the favourable Niblack Felsic Succession horizon. This reinterpretation as well as down-dip and along strike expansion of know zones is driving current exploration on the property.

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