Happy Creek samples 0.52% copper, 0.20 g/t gold at new area on Silverboss property14-09
December 8, 2014 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce results from field exploration work on its 100% owned Silverboss property, and comments on drill results located approximately 350 metres from the property.
Happy Creek’s Silverboss property surrounds the past producing Boss Mountain molybdenum mine and is locally within 350 metres of an open pit on its northwestern side. To the northwest and north, the Company’s exploration to date has outlined several large scale targets called the Horse Trail, Dogtooth, Silverboss, 10 Mile Creek and Gus prospects, respectively. An induced polarization geophysical survey completed at the Horse Trail and Silverboss prospects returned a positive response associated with pyrite (iron sulphide) and associated copper-gold-molybdenum mineralization with values up to 0.56% copper, 0.79 g/t gold, and 3% copper, 4.0 g/t gold, 390.0 g/t silver, respectively. The Dogtooth prospect has returned samples of up to 53.0 g/t gold and 343.0 g/t silver. Historically, the area to the south of the mine property has not been subject to any detailed exploration work in part due to the poor access and extensive forest and overburden coverage that may have limited exploration effectiveness. An airborne geophysical survey identified a positive magnetic and radiometric target and during 2009, the Company completed a few reconnaissance soil lines returning positive copper results.
During the winter of 2013-2014, this area was subject to extensive logging activity and road construction, providing excellent access to approximately 5 square kilometres of prospective geology, and it’s the first time the ground can be clearly observed.
In September, the Company performed geological mapping, rock and soil sampling approximately 400 metres to two kilometres south of the Boss mine property, in the vicinity of the airborne geophysical feature of interest.
Although the area was found to be completely covered by overburden, large boulders of granite, granodiorite to diorite in composition are derived from the Takomkane Batholith. The rocks contain variable amounts of chlorite, epidote, sericite and carbonate as fracture fillings and locally, pyrite (iron sulphides) and chalcopyrite (copper sulphides) occur. Twenty six rock samples were collected for description, magnetic susceptibility and ten were sent for geochemical analyses.
Rock samples returned from trace up to 0.52% copper (5,210 ppm), 0.20 grams per tonne gold and 11 grams per tonne silver, along with 9 ppm molybdenum and 0.032 ppm rhenium. The highest copper-gold values appear associated with the strongest alteration, highest pyrite content and somewhat lower magnetic susceptibility. The samples are in part, similar to the Company’s Horse trail or Silverboss zones located west and northwest of the mine. The soil, stream sediment and 2014 rock sample results along with the interpreted geology and airborne geophysical data are thought to reflect potential for a copper-moly-gold porphyry system in this area.
In addition, the Company wishes to comment on recent drill results announced November 6th, November 17th and December 2nd, 2014, by NMC Resource Corp. (“NMC” TSX:V-NRC). Happy Creek believes the NMC drill results are pertinent due to their location, locally within approximately 350 metres of the Silverboss property. Happy Creek must state that the grade and intervals of mineralization occurring in these drill holes does not directly imply it occurs on the Silverboss property. The drill results are thought to be positive, and have confirmed results of historical holes, expanded the previously mined molybdenum deposits, and returned above-average grades for an open pit molybdenum mine. Positive rhenium values also occur. Boss-14-01 returned 181.5 metres of 0.14% molybdenum (Mo), including 58.75 metres of 0.25% Mo, approximately 350 metres away from the Company’s Horse Trail zone. Boss-14-11, returned 397.75 metres of 0.13% Mo, with results towards the end of the hole containing 1.05 metres of 2.23% Mo, and 0.60 metres of 1.78% Mo. This hole is approximately 500 metres from the Company’s 10 Mile Creek zone.
The molybdenum zones are open in extent outward towards the Silverboss property where there appears to be a relative increase in copper and gold values in soil and rock samples. On the Silverboss property, there are five large scale targets identified where further work including drilling is recommended. An updated map of the Silverboss property is provided on the Company’s website.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Ron Birch Phone: 250-545-0383
Neither the 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. 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. Rock sample analyses were performed by Agat Laboratories of Burnaby, British Columbia, using ICP-MS/OES. All values are provided in PPM (parts per million, or grams per tonne) with percent (%) copper calculated as PPM/10,000.
You can view the Next News item:January 26th, 2015, Happy Creek samples 2.71% tungsten (WO3) and expands targets on the Fox property, B.C.
You can view the Previous News item:October 21st, 2014, Happy Creek Completes Exploration at Silverboss and Silver Dollar properties
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