Happy Creek Commences Exploration on Its Highland Valley and Cariboo Properties
August 19 2009 - 9:00AM
Marketwired
Happy Creek Minerals Ltd. (TSX VENTURE: HPY) (the "Company") is
pleased to announce that exploration has commenced on its Highland
Valley and Cariboo properties.
Highland Valley
Geological mapping is underway at the 100% owned Rateria and
West Valley properties that are located in BC approximately 10
kilometres southeast and southwest, respectively, from Teck's
Highland Valley copper concentrator, the third largest in North
America. Exploration in this area has been on-going on a sporadic,
fragmented and cursory basis since 1958, but success has been
limited by access difficulties, extensive glacial till cover and
inferior technologies. During the past two years, extensive logging
activity has occurred on the Rateria and West Valley properties due
to the Pine Beetle epidemic. New logging roads have uncovered
several outcrops containing copper mineralization. This recent
logging activity assists in the collection of new geological
information that is both cost-effective and valuable for planning
and focusing direction of exploration and drilling.
Happy Creek is the first to use the 3 Dimensional Induced
Polarization (3D IP) geophysical surveys in the Highland Valley. On
the Rateria property, this type of survey has successfully
identified two new copper zones. Results from Zone 1 include 100.0
metres grading 0.29% copper, 84.0 metres of 0.30% copper, and 10.4
metres grading 1.55% copper. Several holes ended in copper
mineralization. Results from Zone 2 include 177.0 metres grading
0.37% copper including 27.0 metres grading 1.05% copper, 0.02%
molybdenum, 5.0 g/t (grams per tonne) silver and 0.24 g/t gold as
well as 153.1 metres containing 0.24% copper, including 17.5 metres
containing 1.12% copper. The intercepts from Zone 2 are two hundred
metres apart and remain undefined and open in extent. Drilling is
planned to follow-up on Zone 1 and 2 and test several other
prospective new targets identified by the 3D IP survey.
With the recovery in copper prices from lows of around
US$1.30/lb to the current price of approximately US$2.75/lb, the
Company has plans to resume drilling at Rateria this fall.
Exploration permit applications have been filed for the drilling of
up to twenty-six diamond drill holes with drilling planned to
commence once the permits are granted.
At the West Valley property, the current geological mapping
program is intended to discover new mineralized prospects as well
as advance known mineralized prospects which include approximately
10 metres grading 0.7% copper and 6 metres grading 0.4% copper in
historical trenches. This mapping will assist in planning the first
3D IP geophysical survey for this area.
Cariboo
The Company has initiated prospecting and geochemical sampling
surveys on the Art-DL property located northeast of 100 Mile House,
B.C. Soil geochemical surveys have been collected near the southern
side of the property, approximately 1.5 kilometres north of Skygold
Venture's new Thunder Ridge gold prospect. The DL property is
underlain by similar geology as the Thunder Ridge and Spanish
Mountain gold properties located to the south and north,
respectively. The DL property contains historical (1890s) workings
that returned assays up to 42.9 g/t gold. Current soil and silt
sampling have identified positive gold values over a 1.5 kilometre
trend.
The Company is undertaking further geochemical surveys and
prospecting to expand upon the positive molybdenum, tungsten,
copper, gold and silver geochemical results returned from the
Company's Silverboss, Fox and Hen properties. Trenching is
anticipated to begin shortly on the Hen property, where a 3D IP
geophysical survey, soil and rock geochemical surveys and geology
have returned positive results, including 3.5 metres grading 3.5
g/t gold and grab samples containing up to 35.1 g/t gold that
remain undefined and open in extent.
On behalf of the Board of Directors,
David E Blann, P.Eng., President
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.
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.
Contacts: Happy Creek Minerals Ltd. Corporate Office
604.662.8310 info@happycreekminerals.com www.happycreekminerals.com
Ascenta Capital Partners Inc. Hugh Oswald Investor Relations
604.684.4743 ext. 243 or Toll free: 1.866.684.4743 ext. 243
Happy Creek Minerals (TSXV:HPY)
Historical Stock Chart
From Dec 2024 to Jan 2025
Happy Creek Minerals (TSXV:HPY)
Historical Stock Chart
From Jan 2024 to Jan 2025