Niblack Mineral Development Inc.

Published : July 13th, 2010

Expands Precious Metals-Enriched VMS Deposit

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Niblack Mineral Development Inc.

Niblack Mineral Development Expands Precious Metals-Enriched VMS Deposit

July 13, 2010, Edmonton, AB � Niblack Mineral Development Inc. (�Niblack� or the �Company�) (TSXV: NIB) announces that delineation drilling at the Niblack gold-copper-silver-zinc project in southeast Alaska continues to deliver superb and improving results, further expanding a newly discovered polymetallic volcanogenic massive sulphide (VMS) deposit on the Niblack property.

Niblack�s joint venture has completed 35,000 feet of drilling in 23 holes from six underground drill stations. Assay results from the last 14 of these holes, released today, indicate that the precious metals-enriched system located southwest of the known Lookout deposit continues to expand and remains open in several directions.

�The assay results released today confirm the continuity of high-grade VMS mineralization at Niblack, and reflect a consistently strong and improving grade profile and growing resource base,� said Heatherdale President & CEO Dave Copeland. �The findings validate our geological team�s growing knowledge of the precious metals-enriched system we�re seeking to delineate, and enhance our confidence that we will define a polymetallic VMS deposit with the grades, volume and other characteristics necessary to support an economically robust underground mining operation in future.�

The Drill Program:

Important intersections from the 14 drill holes (U039-U052) released today are presented in the �Niblack Assay Table� at the end of this release. Assay results from the first nine holes drilled, representing 15,000 feet of drilling, were released previously (see March 19, 2010 news release). A drill hole location section is available at www.niblack.com.

The initial 25,000 foot drill program is complete and the second phase of the program is well underway. Two underground drill rigs are currently working to further expand the strike length of the newly discovered gold-copper-silver-zinc system located adjacent to the Lookout zone. The Lookout zone is one of six known VMS deposits within the 10 square mile Niblack property.

The 23 holes drilled at Niblack since fall 2009 were collared at six underground drill stations utilizing a fan pattern designed to cross cut the mineralized target horizon southwest of the Lookout deposit. To date, the true widths of the intersections have not been firmly established. Systematic, step-out drilling will continue for the balance of 2010 to expand the dimensions of the high-grade VMS deposit and demonstrate the strength and continuity of the gold-copper-silver-zinc mineralization.

�We fully intend to continue our investment at Niblack to move the project forward in a timely and efficient way. Over the next several months, two underground drills will complete an additional 50,000 feet of underground drilling for the purpose of further developing the geological model for the project� said Heatherdale President & CEO Dave Copeland.

Niblack�s location at tidewater on Prince of Wales Island in southeast Alaska presents a number of compelling project benefits � including year-round marine access, a well-trained labour force, a mature supply and service sector, proximity to Asian markets, and the support of community and Alaska Native corporation partners. The project is located 27 miles (44 kilometres) from Ketchikan, a community of 8,000 people with important services to support project development, including a deep water port and international airport.

The State of Alaska�s burgeoning minerals industry also enjoys a competitive tax regime and stable, predictable permitting and regulatory oversight coordinated by the Department of Natural Resources� �Large Mine Permitting Team�. For reference, Hecla's Greens Creek, a 2,100-ton per day underground massive sulphide mine, operates 225 miles (370 kilometres) to the northwest of Niblack on Admiralty Island.

Peter Kleespies, P.Geol., a Qualified Person as defined under National Instrument 43-101, is supervising the exploration and quality assurance and quality control programs on behalf of Niblack and has reviewed the content of this release.

About Niblack Mineral Development Inc.

Niblack Mineral Development Inc. (NIB:TSXV) is a Tier 1 Canadian exploration and development company whose principal asset is a 100% owned, advanced-stage, gold-rich VMS deposit containing gold, silver, copper and zinc. This project is currently  joint ventured to and operated by Heatherdale Resources Limited, (Hunter Dickinson Company) which has the right to earn a 51% interest in the Niblack project by investing US$15 million over three years, and an option to acquire up to a 60% interest from Niblack Mineral Development Inc. (formerly CBR Gold Corp.) by investing an additional US$10 million and 70% by completing a bankable feasibility study. The Company also owns the Khayyam and Ruby Tuesday Properties, which are within 18 miles (30 kilometres) of the Niblack Project.

Niblack Mineral Development Inc. is a member of the Discovery Group of companies, for more information on the group visit www.discoveryexp.com.

On behalf of the Board
Niblack Mineral Development Inc.
/s/�John Williamson�
President, CEO & Director
For further information about Niblack Mineral Development Inc. or this news release, please contact:

Brian Budd
Director of Corp. Development
Email: brianb@niblack.com
Tel. 604-646-4525 or toll-free 1-888-331-2269
Website: www.niblack.com

 

 

NIBLACK ASSAY TABLE


Drill Hole Number

 

From (feet)

To (feet)

Intercept (feet)

Cu %

Au g/t

Zn %

Ag g/t

U039

 

Niblack Mineral Development Inc.

PRODUCER
CODE : NIB.V
ISIN : CA65365X1096
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Niblack Mineral is a zinc and gold producing company based in Canada.

Niblack Mineral holds various exploration projects in Australia and in Canada.

Its main assets in production are 3 BLUFFS in Canada and JAURDI HILLS in Australia and its main exploration properties are BORDEN and NIBLACK in Canada and JAURDI HILLS (BLACK CAT) in Australia.

Niblack Mineral is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 15.5 millions as of today (US$ 15.5 millions, € 11.6 millions).

Its stock quote reached its highest recent level on January 23, 2004 at CA$ 9.95, and its lowest recent point on December 23, 2011 at CA$ 0.16.

Niblack Mineral has 35 977 000 shares outstanding.

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Annual reports of Niblack Mineral Development Inc.
2008 Annual Report
Financings of Niblack Mineral Development Inc.
1/4/2012Announces Private Placement
Project news of Niblack Mineral Development Inc.
1/12/2012Announces Security holder Approval for Arrangement with Heat...
12/1/2011(Niblack)Supports As Heatherdale Explores Niblack Project Partnership...
8/31/2011(Niblack)Joint Venture Partner Completes Requirments To Secure 60% In...
8/22/2011Joint Venture Receives Priority Permitting Approval From US ...
3/16/2011(Niblack)Larger Niblack Mine Estimates Released
7/13/2010(Niblack)Expands Precious Metals-Enriched VMS Deposit
5/6/2008(Commitee Bay)Exploration Program Set for 2008 Committee Bay Greenstone Be...
4/30/2008(Coolgardie)Concludes Sale of Coolgardie Gold Project for Total Consider...
4/15/2008(Coolgardie)Focus Minerals Shareholders Approve Acquisition of Committee...
3/13/2008(Commitee Bay)Significant Resource Upgrade for Three Bluffs Deposit Commit...
2/19/2008(Coolgardie)Further Resource Upgrade For High-Grade Perseverance Gold De...
1/30/2008(Redemption)Enters Exclusivity Agreement Redemption Joint Venture Proje...
12/20/2007(Redemption)Perseverance Feasibility Study Yields Positive Result Base C...
12/12/2007Further High Grade Drill Results from Perseverance Deposit
10/31/2007(Commitee Bay)Final 2007 Three Bluffs Drilling Results: 9.29 g/t Au over 8...
10/9/2007Upgraded Resource Within the "Tindals Gold Mining Centre"
9/13/2007(3 Bluffs)Three Bluffs Drilling Continues to Expand Resource Potential
9/5/2007New High Grade Intersections Increase Size Potential of Inuk...
Corporate news of Niblack Mineral Development Inc.
1/19/2012Announces Acquisition by Heatherdale Resources Ltd.
12/16/2011Mails Information Circular
11/29/2011(Niblack)Joint Venture Announces 31% Increase To Total Mineral Resour...
10/26/2011(Niblack)Definitive Agreement Reached between Niblack and Heatherdale
7/28/2011(Niblack)Drilling Continues To Intersect & Expand Mineralization At N...
3/7/2011Announces 54% Increase to Mineral Resources
5/6/2010Amends Warrant Terms
7/30/2008Acquire Key Areas on Borden Project Airborne Magnetics Surve...
6/20/20082008 Committee Bay Exploration Program Initiated
2/6/2008 Will Be Exhibiting at the 2008 Phoenix Resource Investment ...
11/6/2007 Present at the 2007 Money Talks Conference
11/5/20072007 President'sLetter and Corporate Update
10/18/2007 to present at Toronto and New Orleans Investment Conference...
9/14/2007Drill Program Extended at Three Bluffs Deposit
9/6/2007Three Bluffs Drilling Delivers Outstanding Intercepts 19.44 ...
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