Happy Creek Minerals Ltd. (TSX-V: HPY) is engaged in the business of creating wealth for shareholders by making new economic mineral discoveries that are in proximity to infrastructure and existing or past-producing mines in British Columbia, Canada. The Company has made two new discoveries:
1) the Fox tungsten property contains a resource with among the highest grades in the western world and,
2) the Rateria-West Valley property has two deposits with near-term resource potential that are 6.5 km from a currently producing open pit.
The Company’s management, Directors and Technical Advisory Board have many years of experience in exploration, development and mining.
The project is located northeast of 100 Mile house, B.C. and 25 km from a past producing mine and has good road access and infrastructure nearby. The Company’s success with the Fox tungsten discovery originated in part from being the “first-mover” in an area having very limited previous work. The Company is the first to explore the 120-square km Fox property from its earliest stage, leading to surface and then drilling discoveries of high grade tungsten with resources. Most operating tungsten mines in the western world produce concentrates from ores grading 0.18 to 0.35% WO3 (tungsten trioxide). The Fox project currently contains 486,000 tonnes grading 0.817% WO3 (Indicated) and 361,000 tonnes grading 1.568% WO3 (Inferred) in two zones (BN and Ridley Creek), and a portion of these are within an open pit. Drilling in 2017 has expanded the mineralized area of these two zones and an updated resource estimate is expected in Q1, 2018. In addition, the Company located another new area containing positive grade at the South Grid, and there is excellent potential to continue expanding the resource base. The Fox has a 10 km by 3 km mineral system and is thought to be a unique discovery having among the highest tungsten grades in the western world.
The Rateria and West Valley properties adjoin to the east and west, respectively the southern side of Teck’s Highland Valley Copper mine (HVC), one of Canada’s largest, and longest-lived copper producers. The geology of the district is very favorable for finding economic mineral deposits with five major deposits (Bethlehem, Lornex, Valley, Highmont and Craigmont) achieving commercial production. Happy Creek has assembled approximately 200 square kilometres within this favorable geology and exploration work has resulted in the discovery of two new copper zones.
Zone 1 contains continuous copper mineralization that is approximately 1.2 km in length, 50 to 200 metres in width, and at least 450 metres in depth. Drilling has returned positive results including 95.0 metres of 0.67% copper, 3.6 g/t silver and 250.0 metres of 0.25% copper. Preliminary metallurgical testing of Zone 1 indicate a premium grade concentrate containing 39.6% copper and 396.8 g/t silver could potentially be produced.
Zone 2 is approximately 400 metres by 50-200 metres in dimension and extends to at least 350 metres in depth. Zone 2 drilling has returned 152.5 metres of 0.35% copper, that includes 32.5 metres of 0.91% copper, 0.010% molybdenum, 4.0 g/t silver, 0.11 g/t gold and 1.83 g/t rhenium. Starting from 12.2 metres, drill hole R12-01 returned 92.8 metres of 0.30% copper and 0.15 g/t gold. A step-out hole 200 metres east of Zone 2 cut 5.0 metres of 4.4% copper in R17-02.
Both Zone 1 and 2 remain open to further expansion and are thought to have near-term resource potential. Many of the holes ended in mineralization and alteration thought to be part of a large mineral system. Zone 1 and 2 occur to bedrock surface and are located 6.5 km from an existing, producing open pit. In addition, the property holds numerous copper prospects dating from the 1950’s which remain under-explored and has excellent potential for additional new discoveries.