Niblack Mining Corp.
TSX VENTURE : NIB

Niblack Mining Corp.

November 14, 2007 18:48 ET

Niblack Commences Underground Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - Niblack Mining Corp. (the 'Company') (TSX VENTURE:NIB) (www.niblackmining.com) is pleased to announce that the first underground drill station has been constructed and underground drilling on the Company's gold, silver, copper, zinc Niblack VMS property in southeast Alaska has commenced. The program will provide for at least 9,000 metres (30,000 feet) of diamond drilling to test over two kilometres of massive sulphide hosting stratigraphy, and will provide year round exploration activity.

Mineralization at Niblack is hosted by a thick sequence of rhyolite stratigraphy that exhibits wide spread alteration indicating the potential of a large scale system. To date, six massive sulphide zones have been identified on the property within the folded stratigraphy - Lookout zone, Trio zone, Dama zone, Mammoth area, the Historic Mine site, and the Lindsy zone. The Lookout and Mammoth zones are situated on opposite limbs of a major fold that is the focus of the underground drill program (images are available at www.niblackmining.com).

Specifically, the underground drill program is designed to test approximately 1,500 metres (5,000 feet) of unexplored stratigraphy between the Mammoth and Lookout zones (now known as the 'North Limb') and to test approximately 600 metres (2,000 feet) of depth extension at the Lookout zone. The Mammoth area will be tested first given its proximity to the portal entrance, and will include a minimum of eight holes totaling 1,500 metres (5,000 feet). The drill holes are designed to follow-up drill hole LO-174 that intersected 18.65 metres (61.2 feet) of pyrite dominant, semi-massive and massive sulphide grading 0.47% copper, including 4.33 metres (14.2 feet) grading 1.01% copper (reported July 26, 2006). Massive sulphide lenses commonly exhibit strong zoning, from base-metal rich cores to pyrite dominant, base-metal poor margins, and potential for discovery of higher grade mineralization at Mammoth is considered high.

As the main cross cut advances, drilling will continue to test the North Limb and the depth extension of the Lookout zone. Some of the deeper drill intercepts from surface based exploration at the Lookout zone include hole LO-129 that grades 3.26 g/t gold, 98 g/t silver, 4.52% copper and 16.38% zinc over 4.5 metres (14.8 feet) and LO-181 grading 4.68 g/t gold, 126 g/t silver, 5.83% copper and 6.23% zinc over 14.94 metres (49 feet).

About the Underground Program

The underground tunneling has advanced 120 metres (400 feet) in from the portal entrance and crews continue to make steady progress at 4.5 metres (15 feet) per day. Construction of a 21 metre (70 foot) sump is complete as are portal steel sets and the underground ventilation system. Ground conditions are good with limited rock bolting required. The underground program will consist of up to 1,800 metres (6,000 feet) of tunnel development providing access to areas beneath gold-rich base metal mineralization defined at the Lookout zone, and for discovery of new massive sulphide lenses along the North Limb. Underground access to the Trio Zone could also be achieved by extending one of the exploration drifts currently under construction at the Lookout Zone by 360 metres (1,200 feet). Drilling along the North Limb is now underway and will be followed by drilling at the Lookout Zone in the spring of 2008.

About the Company

Niblack Mining Corp. is a mineral exploration company engaged in advanced stage exploration of the gold, silver, copper, zinc Niblack volcanogenic massive sulphide (VMS) property located on Prince of Wales Island in southeast Alaska. The Company is carrying out underground and surface exploration programs that are designed to expand the Lookout Zone at depth. The Niblack property has excellent exploration potential and is particularly attractive due to its high precious metals content and year round tidewater access. Niblack is well capitalized with over $10 million in working capital to fund the current underground program.

To find out more about Niblack Mining Corp. (TSX VENTURE:NIB), visit our website at www.niblackmining.com.

ON BEHALF OF THE BOARD OF NIBLACK MINING CORP.

Paddy Nicol, MBA, President

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

Contact Information

  • Niblack Mining Corporation
    Fraser Adams
    Corporate Inquiries
    (604) 484-5045
    or
    Niblack Mining Corporation
    Tim Mikula
    Corporate Inquiries
    (604) 484-5045
    (604) 684-0279 (FAX)
    Email: info@niblackmining.com
    Website: www.niblackmining.com