Niblack reassays hole 6.77 m of 39.27 g/t Au at Niblack
2007-01-09 09:34 ET - News Release
Mr. Paddy Nicol reports
NIBLACK REPORTS 39.27 G/T GOLD OVER 6.77 METRES '22.2 FEET' FROM METALLIC SCREEN ASSAYS AND SIGNIFICANT GALLIUM AND INDIUM
Niblack Mining Corp. has received results from resampled drill core at the company's 100-per-cent-owned, polymetallic (copper, zinc, gold, silver) Niblack property in southeast Alaska. Mineralization at Niblack occurs within a vigorous and widespread volcanogenic massive sulphide system that demonstrates significant enrichment in gold.
Metallic screen gold analyses were carried out at the completion of the 2006 drill program, as part of the company's quality control and quality assurance program (QA/QC), which includes routine duplicate sampling of quartered drill core. In addition to metallic screen gold analyses (a more reliable technique than standard fire assay in high-grade environments where nugget effect can occur), samples were analyzed for an expanded suite of elements to evaluate the potential for other metals of economic interest.
Highlights
Combined metallic screen and standard fire assay results yield 39.27 grams per tonne (1.15 ounces per ton) gold and 284 g/t (8.27 ounces per ton) silver over 6.77 metres (22.2 feet) in drill hole LO-176, more than doubling the previously reported grade. The interval occurs within a near-surface oxide zone that is leached of base metal sulphides and is part of a wider 13.2-metre (44.3-foot) interval grading 23.19 g/t (0.68 ounce per ton) gold and 152 g/t (4.44 ounces per ton) silver. The recalculated intersections include metallic screen assays for only three of the 10 samples that make up the interval. Additional analyses will be carried out for the remaining samples.
The high-grade interval in LO-176 has three samples of greater than one ounce per ton (34.28 g/t) gold, including one sample that grades 138 g/t gold (4.09 ounces per ton) over 3.8 feet. The table below provides a comparison between the original assays and the metallic screen reassays for this hole.
Significant enrichment in gallium and indium has been documented at Niblack. Individual samples assayed up to 112.5 g/t gallium and 55.3 g/t indium, with an average of all samples of massive sulphide totalling 45.5 g/t and 22.2 g/t respectively. These rare metals can be important smelter byproduct credits and will add to the gross metal value of mineralization at Niblack. Gallium and indium are used in a variety of new technology applications and have experienced a strong demand-driven market in recent years. For example, indium, which is used in the manufacture of high-definition LCD television and computer screens, has had an eightfold price increase over the past five years and is currently trading near $750 (U.S.) per kilogram.
Results of the expanded suite of analyses suggest that Niblack would likely yield clean mineral concentrates. Undesirable and deleterious elements such as selenium, arsenic, antimony, and mercury occur in negligible concentrations (for example, 20 samples of massive to semi-massive sulphide average 18 parts per million Se). These results, from sampling of a variety of styles of mineralization throughout the Lookout zone, confirm historical data and provide an early indication of positive geochemical compositions.
GOLD ASSAY DATA FOR DRILL HOLE LO-176
Au g/t Au g/t
standard metallic
Re- From To Width Width fire screen
Sample sample (ft) (ft) (ft) (m) assay assay
N28835 84.5 86.8 2.3 0.7 5.38
N28836 86.8 91.8 5 1.52 5.47
N28837 C217398 91.8 96.8 5 1.52 5.17 5.71
N28838 96.8 101.8 5 1.52 7.75
N28839 101.8 105.6 3.8 1.16 6.67
N28840 C217399 105.6 110 4.4 1.34 39.5 38.2
N28841 110 115 5 1.52 0.6
N28842 115 120 5 1.52 1.89
N28843 120 124 4 1.22 41.7
N28844 C217402 124 127.8 3.8 1.16 22.1 138
Subinterval 105.6 127.8 22.2 6.77 19.69 39.27
Total interval 84.5 127.8 43.3 13.2 13.09 23.19
Note: A standard and a blank sample were inserted into the assay batch
for C217400 and C217401.
Standard fire assay values are used where metallic screen assays are
absent to calculate weighted averages.
We seek Safe Harbor.
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