Niblack assays verify Blackwolf theory

Blackwolf Copper and Gold Ltd. (formerly Heatherdale Resources Ltd.) May 3 announced that its late 2020 surface drill program near the historic Niblack Mine tapped high-grade copper-gold-silver-zinc mineralization and confirmed the company's interpretation of the geology found there.

Located at the end of the Alaskan Panhandle, on Prince of Wales Island, the historic Niblack Mine is located over 1,000 meters north of the current NI 43-101 mineral resources in the Lookout and Trio zones on the Niblack property.

During November and December, 10 holes totaling 1,774 meters of drilling was completed using a track-mounted diamond drill operated by More Core Drilling of Stewart, BC.

Massive sulfide was encountered in both limbs of the synform fold in multiple holes, as well as a hinge zone. Highlights of the drilling at the historic Niblack Mine area include:

• LO20-213 cut 11.08 meters averaging 2.33% copper, 2.98 grams per metric ton gold, 45 g/t silver, and 1.78% zinc.

• LO20-213 cut 5.5 meters averaging 4.32% copper, 1.36 g/t gold, 30.8 g/t silver, and 4.43% zinc.

• LO20-215 cut 7.59 meters averaging 5.18% copper, 2.66 g/t gold, 145.1 g/t silver, and 6.53% zinc.

• LO20-215 cut 2.8 meters averaging 6.1% copper, 2.56 g/t gold, 56.4 g/t silver, and 0.84% zinc.

• LO20-219 cut 3.1 meters averaging 9.34% copper, 4.25 g/t gold, 76.3 g/t silver, and 3.23% zinc.

• LO20-222 cut 4.74 meters averaging 2.28% copper, 0.33 g/t gold, 9.5 g/t silver, and 0.06% zinc

• LO20-224 cut 1.5 meters averaging 1.72% copper, 8.02 g/t gold, 27.7 g/t silver, and 0.37% zinc.

"We are thrilled with these near-surface high-grade massive-sulfide results, particularly the copper content in this area of the Niblack property," said Blackwolf Copper and Gold President and CEO Rob McLeod.

Holes LO20-213 to 216 were drilled in a fan based on a revised geological interpretation of a southwestern-plunging, overturned antiform (synform), validating a theory that the VMS-style mineralization was indeed, a downward fold.

"The validation of the new structural model has opened up a prospective 1,000-meter-long area between these assay results and the current mineral resource at the Lookout Zone," said McLeod.

Drill holes LO20-217 and 218 were discontinued before reaching target depths due to drill water from coring returning underneath the access road, rather than through the drill casing. This could have caused a washout of the access road, which resulted in the drill being moved to a nearby site.

Due to access limitations at the end of the drill road, drill holes LO20-219 to 224 were completed as fans along dip and strike, stepping out the north of holes LO20-213-215.

This second fan-extended mineralization also suggested the trend of the synform is striking further to the west than originally thought.

"We will continue to step-out along strike from this drilling with the objective of including the historic mine area in an updated mineral resource estimate for the property. Additionally, we have important assays that are pending from exploration and resource expansion holes that were recently completed from the production-size underground ramp, targeting the Lookout Zone, the largest deposit on the property," said McLeod.

According to Blackwolf, the drilling program was very successful, intersecting high-grade polymetallic mineralization, as well as confirming the revised geological model. The copper-rich zone will potentially be included as a new resource area at the historic Niblack Mine.