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The Happy Creek properties cover approximately 500 square kilometres in central British Columbia. Happy Creek owns or has an option to own a 100% interest in all of its properties.
Fox Property
On the 225-square kilometre Fox property, Happy Creek has confirmed by drilling, a new large scale moly-tungsten system. This new discovery comprises in part, a tungsten-molybdenum "skarn", a selective mineral addition and replacement of favourable limestone. All 13 drill holes intersected mineralization over a 1.5 kilometre by 500 metre area that remains open in extent. The final three drill holes confirmed continuity of the mineralized zones between previous holes.
Plans for the Fox Property in 2008 include a major drill program to develop a NI 43-101 resource figure. In addition, geology and the presence of molybdenum towards the bottom of the drill holes suggest the potential for a large tonnage molybdenum deposit lying beneath the skarn. This is potentially another valuable exploration target. High-grade tungsten was also found four kilometres north of this area. The company is currently awaiting assay results for this exciting new discovery.
Rateria Property
The Rateria property is located only 10 kilometres southeast of Teck Cominco's Highland Valley Copper concentrator, Canada's largest metal mine. Several more drill holes were placed in the spring of 2007 on the new discovery made in 2006. Drill hole R07-05 intersected 33.5 metres containing 0.31% copper within a zone of 134.11 metres containing 0.16% copper, that remains open in extent. For reference, Teck Cominco has recently re-opened and produced from its Highmont copper-moly deposit six kilometres to the northwest, with grades reported as 0.26% copper and 0.05% moly. Grades returned to date from the Rateria property are not far off being economic, and Happy Creek believes that with further exploration, higher grades can be identified and new zones discovered.
Silverboss Property
The Silverboss property adjoins and largely surrounds the former Boss Mountain molybdenum mine, currently owned by Xstrata PLC. Exploration of this area has been very limited since the mine closed in 1985. Between 2005 and 2007, Happy Creek identified an area approximately three kilometres by 500 metres underlain by geology, soil geochemistry and rocks containing molybdenite that indicate the mineralization extends outward, beyond the mine workings and well onto the Silverboss property. Happy Creek's work to date is believed to be the first systematic and comprehensive survey of this area and has resulted in new potential for large-scale molybdenum deposits to occur.
Hawk Property
The Hawk property is a copper-gold-silver porphyry system with geology similar to the Kemess, Mount Polley, Afton and Copper Mountain mines. Surface samples have returned positive values such as 2.10% copper, 2.38 g/t (grams per tonne) gold, 19.37 g/t silver, and up to 4.5% copper, 18.00 g/t gold, 105.7 g/t silver. These are relatively high grades, and similar samples occur scattered over a three kilometre long, 1.5 kilometre wide area. During 2007, Happy Creek completed a 3D induced polarization geophysical survey that has identified a large area containing very positive responses starting approximately 50-100 metres below surface. The company believes this new exploration target is potentially the central source for the mineralized zones.
Hen Property
Happy Creek completed soil and rock geochemical surveys on the Anomaly Creek zone of the Hen property in 2007. This new, early stage prospect has advanced to a well defined zone containing very positive copper, lead, zinc, silver and gold values in rocks and soil over a two kilometre by 800 metre area. Happy Creek plans a geophysical survey followed by reconnaissance diamond drilling on the Hen Property in 2008.
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