is pleased to announce that all assays have been received from the Q4 2020 surface drilling program targeting the historic mine area at its advanced 100%-owned Niblack copper-gold-silver-zinc VMS project, located adjacent to tidewater in southeast Alaska.
Metal equivalency value is based on the following prices: US$3.25/lb Cu, US$1,600/oz Au, US$1.15/lb Zn and US$20.75/oz Ag; it is noted that no adjustments were made in the metal equivalency calculation for metal recovery.
Assays have been received from the initial 10-hole, 1,774 meter drill program that targeted extensions to mineralization at the historic Niblack Mine, which operated from 1902 to 1908.
“We are thrilled with these near-surface high-grade massive-sulphide results, particularly the copper content in this area of the Niblack Property,” said Rob McLeod, President and CEO of Blackwolf Copper and Gold.
2020 surface drilling stepped out from previous drill intercepts, including: LO-065 which intersected 4.6 meters averaging 5.8% Cu, 2.3 g/t Au, 3.8% Zn and 63.2 g/t Ag, as well as LO-067 which intersected 4.9 meters averaging 5.1% Cu, 13.1 g/t Au, 4.0% Zn and 149.1 g/t Ag.
A geological reinterpretation of the host-rock units, which was confirmed during the 2020 drilling program, supported by radiometric age-dating has demonstrated that the mineralization is hosted within an overturned antiform type fold .
During November and December 2020, 10 holes totaling 1,774 meters of NQ2 core were completed using a track-mounted diamond drill operated by Morecore Drilling of Stewart, BC.
Mineralization in this area appears to have primarily formed at the seafloor as exhalative sulphides, as opposed to near-seafloor replacement or sulphide mounds at the other VMS deposits on Property.
Due to access limitations at the end of the drill road, drill holes LO-219 to 224 were completed as fans along dip and strike, stepping out the north of holes LO20-213-215.
Drill core was cut in-half with a diamond saw, with one-half placed in sealed bags and shipped with chain of custody controls to ALS Labs in Vancouver, BC, for sample preparation and analysis.
Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting.
This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements relating to the historic Niblack mine’s potential to be a new resource area and the Company’s future objectives and plans.
Net Smelter Return to Cu concentrate of 95% Cu, 56% Au and 53% Ag with payable metal factors of 96.5% for Cu, 90.7% for Au, and 89.5% for Ag; to Zn concentrate of 93% Zn, 16% Au, and 24% Ag with payable metal factors of 85% for Zn, 80% for Au and 20% for Ag.