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Niblack Mineral Development Inc.

Publié le 12 décembre 2007

Further High Grade Drill Results from Perseverance Deposit

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Committee Bay Resources Ltd News Release

December 12, 2007

Further High Grade Drill Results from Perseverance Deposit
Redemption Joint Venture Project, Western Australia
 

EDMONTON, Alberta - Committee Bay Resources Ltd. (CBR: TSXV) ("Committee Bay" or the "Company") and Australian Redemption Joint Venture ("RJV") partner Focus Minerals Ltd. (FML: ASX) today announced new significant drill results from an ongoing grade control drilling program at the advanced Perseverance Gold Deposit, located in the prolific Coolgardie Gold Belt in Western Australia.

The results included high-grade intersections, which further reinforce the production potential of the Perseverance Deposit, where the Joint Venture is advancing towards planned commencement of production in early 2008. These results are not included in the current Bankable Feasibility Study, which is at the final draft stage and is currently under review by the Joint Venture partners.

Key Highlight Points

  • Grade control drilling delivers better-than-expected grades with best assay results including:
    • 9.1m @ 87.28g/t Au (including 1.3m @ 273.02g/t)
    • 4.4m @ 58.23g/t Au
    • 11.5m @ 27.09g/t Au (including 2.7m @ 65.64g/t)
    • 13.1m @ 16.23g/t Au (including 3.7m @ 56.85g/t)
  • All 20 new holes assayed to date either confirm known widths or intersect wider parts of the lode
  • Drilling confirms the presence of a new narrower footwall quartz-sulphide zone approximately 10m below the main lode with potential for high grade zones
  • Further step-out grade control holes planned to locate the extremities of economic mineralization

A total of 26 drill holes have been completed out of an initial 49-hole program designed to test the grade and width interpretations for the Perseverance deposit. To date, all 20 drill holes assayed have either confirmed the width of the main quartz-sulphide lode, or have intersected wider parts of this lode, with the better intersections summarized below. (See Appendix 1 for full results)

Table 1 (Selected Results):

Hole

From (metres)

To  (metres)

Interval (metres)

Gold Grade (g/t)

Comments

PEGC0002

83

94.7

11.7

16.31

Main QzSu lode

including

93

94.7

1.7

65.97

 

PEGC0003

85.5

97

11.5

27.09

Main QzSu lode

including

93

95.7

2.7

65.64

 

PEGC0004

91.5

100.6

9.1

87.28

Main QzSu lode

including

94.9

96.2

1.3

273.02

 

PEGC0007

83

100.5

17.5

7.49

Main QzSu lode

including

94.87

95.78

0.91

64.12

 

PEGC0008

88.3

101.4

13.1

16.23

Main QzSu lode

including

89.3

93

3.7

56.85

 

PEGC0009

94.5

104.2

9.7

9.15

Main QzSu lode

and

115.4

116.2

0.8

50.5

Lower diorite unit

PEGC0012

89.8

94.2

4.4

58.23

Main QzSu lode

PEGC0015

87

89

2.0

6.03

Hanging Wall diorite unit

and

91.31

95

3.69

11.15

Main QzSu lode

PEGC0016

85

88

3.0

12.46

Main QzSu lode

*QzSu = Quartz Sulphide

"These new Perseverance results have been better than expected and results from the southern extremities of the economic mineralization have been very encouraging as they are higher grade than previous exploration drill holes," stated Committee Bay President and CEO, John Williamson. "This could be a reflection of either the "nuggetty" nature of the ore body, or the existing exploration drill holes do not truly reflect the grade of the quartz-sulphide lode at the southern extremities," Mr. Williamson added.

The grade control drilling has also confirmed the presence of a new footwall quartz-sulphide zone approximately 10 metres below the main lode. This is much narrower and less continuous than the main lode, but results indicate there is potential for some high grade zones. Geology and assay results have also confirmed the presence of the diorite lode, with some results indicating the potential presence of some high grade zones within the diorite mineralization.

The underground grade control drill program has the potential to further upgrade the Resource at Perseverance Deposit, which will be the first of several key central ore bodies to be mined at the Coolgardie Project. The program is being conducted from the Perseverance decline development, of which the first 500 metres was completed one month ahead of schedule and AUD$500,000 (20%) under budget.

The Perseverance ore body is one of several key deposits comprising the Tindals Mining Centre, which is centrally located within the Coolgardie Gold Project. Work is also continuing within the Tindals Mining Centre at the Empress and Cyanide (Tindals East) deposits, in order to fast-track further delineation and development of the greater area.

Coolgardie Project, Western Australia

Committee Bay Resources Ltd., through the Redemption Joint Venture (Committee Bay in a 50% partnership with Focus Minerals Ltd. ASX: FML), has the mineral rights to more than 210 km2 of under-explored greenstone tenements, located in one of the world's most significant gold and nickel mining regions.  These tenements contain Measured Resources of 31,014 ounces gold* (0.55 million tonnes at 1.77 g/t gold), Indicated Resources of 564,631 ounces gold* (8.53 million tonnes at 2.06 g/t gold), and Inferred Resources of 1,038,292 ounces gold* (11.52 million tonnes at 2.80 g/t gold).  The RJV also has a 100% interest in the fully permitted, 1.2mtpa, Three Mile Hill Mill processing plant.*

*For more information on the stated gold resources and historic drill results of Committee Bay Resources Ltd., Coolgardie Project please refer to the detailed NI 43-101 compliant technical report filed on SEDAR by Committee Bay on February 26, 2007. 

Committee Bay Resources Ltd. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property as detailed in Committee Bay Resources Ltd. 'Technical Report for the Coolgardie Gold Project, Coolgardie, Western Australia' by Dean Besserer - May 27, 2005 pp. 76-80. The program is supervised by Peter Kleespies, M.Sc. P.Geol., and Vice President of Exploration, who is the Qualified Person as defined by NI 43-101.

On behalf of the Board
Committee Bay Resources Ltd.
/s/"John Williamson"
John Williamson, P.Geol.
President

For further information about Committee Bay Resources Ltd. or this news release, please visit our website at www.committeebay.com or contact:

Derek Iwanaka
Manager, Investor Relations
Email:
info@committeebay.com
Dial 604-646-4524 or toll-free 1-888-331-2269

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

Certain disclosures in this release, including management's assessment of Committee Bay's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Committee Bay's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Committee Bay expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Appendix 1 - Grade Control Drilling (first 20 Holes)

Hole

From (m)

To (m)

Interval (m)

Au Grade (g/t)

Comments

PEGC0001

82.4

83.4

1.0

25.46

Main QzSu lode

PEGC0002

83

94.7

11.7

16.31

Main QzSu lode

including

93

94.7

1.7

65.97

 

and

100

104

4.0

10.36

Footwall QzSu zone

including

100.9

102.1

1.2

30.29

 

and

110.6

111.4

0.8

7.29

Lower diorite unit

PEGC0003

85.5

97

11.5

27.09

Main QzSu lode

including

93

95.7

2.7

65.64

 

and

100

102.8

2.8

4.94

Footwall QzSu zone

and

107.1

110

2.9

17.69

Lower diorite unit

PEGC0004

91.5

100.6

9.1

87.28

Main QzSu lode

including

94.9

96.2

1.3

273.02

 

PEGC0005

99.8

106

6.2

3.19

Main QzSu lode

and

132

135

3.0

2.51

Lower diorite unit

and

140

143

3.0

3.24

Lower diorite unit

PEGC0006

103

103.6

0.6

8.44

Main QzSu lode

and

135

141

6.0

2.12

Lower diorite unit

PEGC0007

83

100.5

17.5

7.49

Main QzSu lode

including

94.87

95.78

0.91

64.12

 

and

109.9

110.4

0.5

14.15

Footwall QzSu zone

and

116.58

117.48

0.9

62.29

Footwall QzSu zone

PEGC0008

88.3

101.4

13.1

16.23

Main QzSu lode

including

89.3

93

3.7

56.85

 

and

112.1

119.7

7.6

9.39

Lower diorite unit

PEGC0009

94.5

104.2

9.7

9.15

Main QzSu lode

and

115.4

116.2

0.8

50.5

Lower diorite unit

PEGC0010

99.8

108.2

8.4

2.66

Main QzSu lode

and

146

148

2.0

4.52

Lower diorite unit

PEGC0011

95

98

3.0

5.35

Main QzSu lode

and

102

105

3.0

3.23

Lower diorite unit

PEGC0012

89.8

94.2

4.4

58.23

Main QzSu lode

and

104

105.3

1.3

10.8

Lower diorite unit

PEGC0013

90

97

7.0

1.69

Main QzSu lode

and

101

103

2.0

10.48

Lower diorite unit

and

106

108

2.0

3.32

Lower diorite unit

and

114

121.9

7.9

2.32

Lower diorite unit

PEGC0014

74.67

83.1

8.43

10.68

Main QzSu lode

PEGC0015

87

89

2.0

6.03

Hanging Wall diorite unit

and

91.31

95

3.69

11.15

Main QzSu lode

and

125

128

3.0

3.18

Lower diorite unit

PEGC0016

85

88

3.0

12.46

Main QzSu lode

and

96

97

1.0

13.41

Footwall QzSu zone

and

134

136

2.0

12.92

Lower diorite unit

PEGC0017

95.7

101

5.3

7.19

Main QzSu lode

and

107.55

108

0.45

16.74

Footwall QzSu zone

and

114.3

118.67

4.37

6.58

Footwall QzSu zone

and

136

141

5.0

3.28

Lower diorite unit

PEGC0018

89

95.67

6.67

4.85

Main QzSu lode

and

119

125

6.0

1.72

Lower diorite unit

PEGC0019

109

110

1.0

4.04

Main QzSu lode

PEGC0020

71

73

2.0

2.31

Main QzSu lode

and

102.66

107.6

4.94

4.43

Footwall QzSu zone adjacent to the historical workings

Niblack Mineral Development Inc.

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CODE : NIB.V
ISIN : CA65365X1096
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Niblack Mineral est une société de production minière de zinc et d'or basée au Canada.

Niblack Mineral détient divers projets d'exploration au Canada et en Australie.

Ses principaux projets en production sont 3 BLUFFS au Canada et JAURDI HILLS en Australie et ses principaux projets en exploration sont BORDEN et NIBLACK au Canada et JAURDI HILLS (BLACK CAT) en Australie.

Niblack Mineral est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 15,5 millions CA$ (15,5 millions US$, 11,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 23 janvier 2004 à 9,95 CA$, et son plus bas niveau récent le 23 décembre 2011 à 0,16 CA$.

Niblack Mineral possède 35 977 000 actions en circulation.

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2008 Annual Report
Financements de Niblack Mineral Development Inc.
04/01/2012Announces Private Placement
Projets de Niblack Mineral Development Inc.
12/01/2012Announces Security holder Approval for Arrangement with Heat...
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06/05/2008(Commitee Bay)Exploration Program Set for 2008 Committee Bay Greenstone Be...
30/04/2008(Coolgardie)Concludes Sale of Coolgardie Gold Project for Total Consider...
15/04/2008(Coolgardie)Focus Minerals Shareholders Approve Acquisition of Committee...
13/03/2008(Commitee Bay)Significant Resource Upgrade for Three Bluffs Deposit Commit...
19/02/2008(Coolgardie)Further Resource Upgrade For High-Grade Perseverance Gold De...
30/01/2008(Redemption)Enters Exclusivity Agreement Redemption Joint Venture Proje...
20/12/2007(Redemption)Perseverance Feasibility Study Yields Positive Result Base C...
12/12/2007Further High Grade Drill Results from Perseverance Deposit
31/10/2007(Commitee Bay)Final 2007 Three Bluffs Drilling Results: 9.29 g/t Au over 8...
09/10/2007Upgraded Resource Within the "Tindals Gold Mining Centre"
13/09/2007(3 Bluffs)Three Bluffs Drilling Continues to Expand Resource Potential
05/09/2007New High Grade Intersections Increase Size Potential of Inuk...
Communiqués de Presse de Niblack Mineral Development Inc.
19/01/2012Announces Acquisition by Heatherdale Resources Ltd.
16/12/2011Mails Information Circular
29/11/2011(Niblack)Joint Venture Announces 31% Increase To Total Mineral Resour...
26/10/2011(Niblack)Definitive Agreement Reached between Niblack and Heatherdale
28/07/2011(Niblack)Drilling Continues To Intersect & Expand Mineralization At N...
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06/05/2010Amends Warrant Terms
30/07/2008Acquire Key Areas on Borden Project Airborne Magnetics Surve...
20/06/20082008 Committee Bay Exploration Program Initiated
06/02/2008 Will Be Exhibiting at the 2008 Phoenix Resource Investment ...
06/11/2007 Present at the 2007 Money Talks Conference
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18/10/2007 to present at Toronto and New Orleans Investment Conference...
14/09/2007Drill Program Extended at Three Bluffs Deposit
06/09/2007Three Bluffs Drilling Delivers Outstanding Intercepts 19.44 ...
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