The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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There are signs of renewed life for the Niblack copper-gold-zinc-silver project on Prince of Wales Island in Southeast Alaska. Heatherdale Resources Ltd., the company that owns Niblack, advanced the potential underground mine nearly to the permitting stage but became hampered by financial liabilities. A deal announced on June 3 cleans up Heatherdale's balance sheet and puts Rob McLeod at the helm of the restructured company. According to a resource calculated in 2011, Niblack...
Despite owning a Pacific Rim deposit of gold, copper, zinc and silver worth some US$1.44 billion, Heatherdale Resources Ltd. has not completely escaped the financial paralysis gripping the junior mining sector. While the value of Heatherdale's stake of the Niblack Project has nearly doubled over the past year, its share price has plummeted more than 70 percent. Still, the Hunter Dickinson-affiliated junior has successfully pulled together funds to continue to advance the...
