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The Golden Ledge (formerly Art-DL) gold property is located approximately 45 kilometres northeast of 100 Mile House and 25 kilometres southeast of Boss Mountain molybdenum mine, in the south central Cariboo region of British Columbia, Canada. In total, the Golden Ledge property is approximately 40 square kilometres in area and adjoins the Company's Hen property to the west. On December 7th 2009, the Company acquired an option to earn a 100% interest in a property that lies between Happy Creek's existing property and Skygold Ventures Spanish Creek-Thunder Ridge property to the south.
The Golden Ledge property is comprised of two gold prospects that are approximately three kilometres apart. The Art prospect is located in the southwest section of the property and can be accessed via paved and gravel logging roads. The DL prospect is centered on an adit (a tunnel with only one entrance), which dates back to the 1880's, situated on the north side of Deception Creek. The adit is accessible by a logging road, which runs 150 meters to the east of it.
Geology
The key geological aspect of the Golden Ledge property is that they cover a portion of the Eureka Thrust, a continental-scale fault between the volcanic island arc Quesnel terrane, Upper Triassic-Lower Jurassic in age to the west, and the older continental shelf sediments comprised of the Snowshoe Formation, Paleozoic in age to the east. This setting is similar to other areas in the world that are host very large gold deposits, such as Nevada and Russia. Approximately 60 and 100 kilometres north of the Golden Ledge property, the Spanish Mountain and Frasergold properties contain a combined resource of over four million ounces of gold, and are hosted by the same geological package.
At the Art prospect, hornblende-biotite-quartz-feldspar porphyry cuts Nicola Group fine grained volcanic tuff and flow of basalt to andesite composition and widespread quartz sericite-carbonate and green mica (mariposite) alteration occurs. Quartz and quartz carbonate veins contain ankerite, pyrite, pyrrhotite and trace chalcopyrite. Shear zones containing up to 10 percent pyrite occurs. Photos of this material are provided.
The DL prospect refers to a 12 metre deep, historical adit. A gently plunging saddle reef-style quartz vein, hosted by black phyllite, is partially exposed at the old adit. Numerous quartz veins occur that appear to be structurally controlled and re-folded, and a minimum of two generations of quartz have been noted. Tan weathering dykes of possible latite to monzodiorite composition occur in the creek canyon walls and contain pyrite and trace arsenopyrite, which suggest a possible magmatic-hydrothermal affiliation to the gold prospects.
Exploration
History
The earliest documentation of prospecting in the area was the 1886 BC Ministry of Mines Annual Report, which stated, "A ledge has also been discovered on Deception Creek, and two claims located on it...The parties owning the claims inform me that they have had assay returns from surface croppings showing presence of gold and silver," (page 207). At that time, the 12 metre deep DL adit was completed as well as several blast trenches. The prospect remained dormant until 1987 when E. Scholtes located two claims that covered the old workings in Deception Creek. Geology and rock sampling was conducted around the old workings.
In 1990, after the claims had lapsed, David Ridley located the DL claims, which covered the old workings and a length of Ledge Creek Canyon. Evidence of artisan work in the area, along with close examination of tree rings, indicate that the old workings to be those of the original 1886 claims. Pioneer Metals Corp. conducted detailed geological mapping and rock sampling of the adit zone. Samples returned up to 42.9 grams per tonne (g/t) gold and 34.7 g/t silver over one metre. A positive soil geochemical anomaly over 800 metres in length with values greater than 20 ppb gold was also identified.
In 1997, David Ridley located the Art prospect and staked claims covering mineralized outcrop exposed alongside a new logging road, approximately two kilometers west-southwest of the DL adit. In 1998, Mandalay Resources conducted a program of geological mapping, grid and soil geochemistry, rock sampling and magnetic and VLF-EM geophysical survey. Although gold in soil was not reported for the majority of the Art grid, this work resulted in identifying several anomalous zones of pathfinder trace elements that can be associated with gold. In 2001 Mandalay drilled six diamond drill holes totaling 481.52 meters, three on the Art prospect and three on the DL prospect, and abandoned the property that same year. Later in 2001 re-logging and sampling portions of drill hole Art 2001-1 not previously done returned 0.17 g/t gold and 0.35 percent arsenic over 12 metres. These values were thought to be encouraging for the start of a new gold system.
Exploration - 2005
Happy Creek acquired a 100 percent interest in the Art-DL property in 2005 and has conducted a grid based soil geochemical survey, prospecting and rock sampling, mostly in the area northwest and east of the prospect. A coincident, low-order gold and arsenic soil anomaly occurs in the Art prospect area. Rock sampling returned 1.27 g/t gold within 15 meters of the collar of drill hole Art 2001-1. A stronger, larger gold soil anomaly occurs to the northwest that is up to 400 metres in length by 50 to 100 metres in width and its source remains unknown.
Rock sampling in 2005 on the DL prospect returned 10.24 g/t gold over 0.5 metres of quartz-sericite-graphite-pyrite altered phyllite. Happy Creek reviewed the location and orientation of previous drilling in the area and a question remains whether the three short holes intersected the mineralization present in the adit.
Exploration - 2008
During 2008, a program of rock, silt and soil sampling was conducted north of the DL adit and returned positive values of gold, silver, antimony and moly in soil. One gold anomaly is between 50 and 200 metres in width and over 1.2 kilometres in length and remains open in extent. Additional information can be found in Press Release dated February 24th, 2009.
Exploration -- 2009
Additional reconnaissance scale soil geochemical surveys were conducted to the south of the DL adit and returned positive gold and silver values in soil samples. (See Press Release dated January 13, 2010).
Historically, poor access and thick ground cover has made exploration in this area difficult. Recent logging activities and road construction in the surrounding area has allowed for easier access to the DL adit and the Art prospect, and is most likely the reason for their recent discovery. These prospects are at an early stage of exploration; however, are located in a very favorable geological environment, similar to two known deposits to the north and some of the largest gold deposits in the world. Recently, Skygold ventures Ltd has returned very positive drill results from its Thunder Ridge property that are 150 to 350 metres south of the Golden Ledge property. Happy Creek believes there is potential for a large scale orogenic style gold system to occur, and an accelerated exploration program is planned for 2010.
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