Happy Creek expands copper-moly-gold target to 1.75 kilometres at Silverboss property, B.C.
Fri Apr 13, 2012
04/13/2012 | 01:27pm US/Eastern
Happy Creek expands copper-moly-gold target to 1.75 kilometres
at Silverboss property, B.C.
April 13, 2012 -- Vancouver, British Columbia -- Happy Creek
Minerals Ltd. (TSX-V: HPY, the "Company") announces
results from the 2011 exploration of its 100% owned Silverboss
property, located approximately 85 km (kilometres) northeast of
100 Mile House in South Central British Columbia, Canada. Happy
Creek has a 100% interest in 155 square km of mineral claims
that surround the former Boss Mountain molybdenum mine
property, owned by Xstrata, and under option to NMC Resource
Corp (controlled by Don Wong Mining of South Korea). To the
northwest of the property is the Woodjam-Southeast project
operated by Gold Fields. The Company has optioned a property
near the Silverboss to Newmont Mining who is planning to
continue work in 2012. With a large land position and quality
targets outlined, Happy Creek is well situated in this district
among three senior mining companies.
Boss Mountain was Canada's first molybdenum mine. The
Company's Silverboss property locally comes within 350
metres from the edge of an open pit. The Horse Trail zone
extends westward from the mine's open pits; the Dogtooth
and 10 Mile Creek zones adjoin the north side of the mine
property and the Gus zone lies approximately one km north of
the mine property.
During 2011, 527 soil, 29 stream sediment and 7 rock samples
were collected at the Silverboss property from the Horse Trail,
10 Mile Creek, and other areas of the property. New results
from the Horse Trail zone have increased the target area an
additional 250 metres in length with soil samples greater than
15 ppm (parts per million) molybdenum, and up to 309 ppm
copper. A number of soil samples contain up to 3.14% zinc that
are to the south and southwest. Currently, the Horse Trail
copper-molybdenum (gold) zone is approximately 1.75 km in
length and remains open in extent beneath a thin volcanic flow.
In 10 Mile Creek, seven rock samples have returned values of up
to 90.8 ppm molybdenum, 84.3 ppm tungsten* and 2.36 g/t (grams
per tonne) silver. Rock, stream sediment and soil samples in
the 10 Mile Creek area to date are thought to indicate
excellent potential for a porphyry molybdenum system that is
approximately 250 metres north of the Boss Mountain mine
property. Soil sampling to the northwest of previous surveys at
the Gus zone have returned scattered positive values of copper
and up to 2.2 g/t silver. The results suggest the Gus zone is
closed off to the northwest however soil containing 100 to 288
ppm copper is well defined for approximately 2.0 km in length
and 1.0 km in width and remains open in extent to the
David Blann, President of Happy Creek states: "We are
pleased to expand the Horse Trail copper-moly-gold zone, now
about 1.75 kilometres in length. We see additional opportunity
where it remains open in extent beneath a younger, thin
volcanic layer that may cover the extents of this zone. With
positive soil and rock samples, it is clearly part of a large
scale structure trending northwestward, through and well beyond
the Boss Mountain mine. This is a solid target for us and
requires geophysics and drilling. In addition, the 10 Mile
Creek and Gus zones on the north side of the mine are
developing into attractive targets as well."
Previous results at the Horse Trail zone indicate mineralized
surface rock samples range from 0.10 to 1.69% copper, 0.108 to
0.637% molybdenum and 1.03 to 10.0 g/t gold. These rock samples
and the positive soil sampling results support an underlying
mineralized zone thought to be a sizeable
copper-molybdenum-gold target. Mineralized quartz vein rock
samples at the adjacent Dogtooth zone have returned values of
0.30 to 5.0 g/t gold and up to 53.01 g/t gold, 343.0 g/t silver
in grab samples and 9.29 g/t gold, 27.3 g/t silver over 1.17
metres in chip samples. These abundant and widespread quartz
veins are underlain by positive gold in soil covering an area
approximately 1.6 by 1.2 km in dimension. The 10 Mile Creek
area is underlain by an airborne geophysical magnetic low,
similar to that occurring at the adjacent Boss Mountain mine.
The magnetic low is thought to indicate an underlying intrusive
rock similar to the nearby Boss Mountain stock that is related
to the ore zones at the mine. In 10 Mile creek, rock samples
have returned positive tungsten values, and closer to the mine
property boundary, rock samples have assayed up to 0.20%
molybdenum. The geology and geochemistry suggests potential for
another porphyry molybdenum system to occur beneath 10 Mile
Creek. The Gus zone is outlined by positive copper in soil
approximately 1.0 km by 2.0 km in dimension. Outcrop is not
present however boulders have returned 0.15% copper and 0.13%
copper in the general area.
Updated maps of the Silverboss property will be posted to the
Company's website shortly.
Additional geochemical surveys and an induced polarization
geophysical survey are planned to finalize selection of the
first drill targets on the Silverboss property.
On behalf of the Board of Directors,
"David E Blann"
David E Blann, P.Eng.
David Blann, P.Eng. is a Qualified Person as defined by
National Instrument 43-101 and is responsible for the
preparation and approval of the technical information disclosed
in the news release. The 2011 analyses were performed by AGAT
Laboratories of Burnaby, B.C. using a geochemical aqua regia
digest and ICP-MS finish, and results for copper, silver,
molybdenum, tungsten and gold are provided in PPM (parts per
million or grams per tonne), with values converted to percent
by dividing by 10,000. *Aqua regia digest results are partial
for tungsten and molybdenum.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Toll free: 1-877-459-5507
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
|1m ago|| ||Fed's Lacker says frequent changes to QE unrealistic
|2m ago|| ||FLEXTRONICS INTERNATIONAL LTD. : Flextronics To Present At The Raymond James Systems, Semiconductors, Software & Supply Chain Conference
|2m ago|| ||FORD MOTOR COMPANY : Ford Pilots New Siemens Software Using Google Earth Technology to Virtually Navigate Assembly Plants and Enhance Global Manufacturing Collaboration
|5m ago|| ||FIRST INDUSTRIAL REALTY TRUST, INC. : First Industrial Realty Trust to Present at the J.P. Morgan SMid Cap Conference
|8m ago|| ||ENZO BIOCHEM, INC. : Enzo Biochem Schedules Teleconference to Discuss First Quarter Results Wednesday, December 11, 2013 at 8:30 AM E.T.
|9m ago|| ||AMERIPRISE FINANCIAL, INC. : Ameriprise Financial Earns 100 Percent Score on the 2014 Corporate Equality Index
|9m ago|| ||New Infonetics Report Projects Data Center and Enterprise SDN Market Will Top $3 Billion by 2017
|9m ago|| ||Sysco to buy US Foods from private equity, shares leap
|10m ago|| ||BOB EVANS FARMS INC : Bob Evans Farms, Inc. Comments On Announcement By Investor
|10m ago||DJ||DISH NETWORK CORP : Falcone, Harbinger Urge Judge to Allow LightSquared's Dish Suit