Highland Valley
The reader is cautioned that results or information from an adjacent property does not infer or indicate similar results or information will or does occur on the subject property. Historical information from the subject or adjacent property cannot not be relied upon as the Company’s QP, a term which was created and defined under NI-43-101 has not prepared nor verified the historical information.
RATERIA AND WEST VALLEY PROPERTY
The Rateria and West Valley properties adjoin to the east and west, respectively, the southern portion of the Highland Valley Copper mine property and adjoins to the north, the former Craigmont copper mine property, located north of Merritt, British Columbia, Canada. Highland Valley Copper (HVC) is Canada's largest copper producer, currently mining from three different pits (Valley, Lornex and Highmont). These currently mined deposits are hosted by the Bethsaida, Skeena and Bethlehem phases of the Guichon batholith, geology which also occurs on the Rateria and West Valley property. Happy Creek has explored in any detail only a fraction of its 200 square kilometre property and located and partially outlined two new copper discoveries (Zone 1 and Zone 2) containing drill grades similar to that being mined next door. In addition, Zone 2 contains appreciable gold values and high rhenium enrichment in molybdenite that signify a copper-gold system- something different in Highland Valley. Both zones are open to expand and there are 25 under-explored prospects. This property is thought to be an excellent copper exploration asset with potential for large deposits in a great location.
RATERIA AND WEST VALLEY PROPERTY FACTS
Property |
23,449 hectares or 234 square kilometres of mineral tenure |
Ownership |
100% Happy Creek Minerals Ltd. since 2006 |
Key minerals present |
Copper, molybdenum, rhenium, gold and silver |
Location |
35 km north of Merritt, south central British Columbia, Canada |
Access |
Via paved and gravel roads from Merritt |
Closest mine |
Former Craigmont copper mine 5 km to the south, and Highmont mine- part of the Highland Valley operation, 6.5 km to the north |
Surveys completed |
Prospecting, geology, geochemical, airborne + ground geophysics, LiDAR, drilling, metallurgy |
Drilling - Totals |
35,000m in 132 holes |
Zone 1 |
Discovered 2006. 17,885 m in 66 holes. Skeena Phase Gd cut by aplite, Fp dikes. Defined continuous copper mineralization over 1.2 km in length, 50-150m in width from surface to 400m depth and remains open. Highlights include 95 m of 0.65% Cu, 250m of 0.25% Cu, 162.5m of 0.32% Cu. Dominantly chalcocite-bornite- Cu-Ag zone. |
Zone 2 |
Discovered 2008. 11,602m in 42 holes. Bethlehem-Chataway phase contact cut by aplite, Fp dikes. Outlined an area of copper mineralization over 1km by 500m and from surface to over 350 metres depth and remains open. Central, continuous higher-grade zone 750m by 75-150m to 350m depth. Contains gold and high rhenium enriched molybdenite- indications of a copper-gold system that is different than currently mined deposits in the district. Highlights include: 126.0m of 0.46% Cu, 0.10 g/t Au, 92.8m of 0.30% Cu, 0.15g/t Au, 152.5 m of 0.35% Cu, 0.06 g/t Au, 105.5m of 0.37% Cu, 0.14 g/t Au, 0.63 g/t Re, 5.0m of 4.41% Cu, 0.21 g/t Au, 20.0 g/t Ag, 0.03% Mo, 6.86 g/t Re. Dominantly bornite (+ chalcocite). Cu-Mo-Au-Re zone. |
South Yubet |
Southern extension to Teck’s Yubet prospect. Drilled 2011. Bethsaida phase |
Project Stage |
Exploration and resource drilling. |
Services |
Hydropower, 30 min drive to Lower Nicola village near Merritt. Logging roads and clear-cuts provide access within property. |
Rateria- West Valley Property
Happy Creek's property covers important geology having similarities to the deposits currently in production to the north. The Guichon Batholith consists of concentric inward-younger phases ranging from gabbro-diorite to mafic-depleted granodiorite, respectively, with two periods of porphyry copper mineralization spatially associated with several varieties of feldspar phyric dykes. The currently producing deposits in the batholith are calc-alkaline copper-molybdenum hosted by the Bethsaida, Skeena and Bethlehem phases that are of the younger, later phases.The Rateria- West Valley property is underlain in part by these younger phases however the property is largely covered by 3 to greater than 100 metres of glacial till that affected geological mapping and historical exploration. The Company has carried out modern, three-dimensional induced polarization (3D IP) and magnetic geophysical surveys, geochemical and geological surveys and drilling on a small portion of the property that has located two new zones named Zone 1 and Zone 2. These deposits have sufficient drilling to outline continuous mineralization and are thought to be new finds in the Highland Valley district that can be advanced and expanded further with additional drilling. With experience gained in success of finding Zone 1 and 2, interpretation of all data suggests 25 other under-explored prospects have potential to host copper deposits.
The low concentrations of pyrite and deleterious elements and dominantly bornite-chalcocite copper minerals with accessory molybdenum, gold, silver and rhenium are thought to be additional positive qualities. Recent metallurgical testing on Zone 1 material suggests relatively high recovery with simple flotation and a product containing 39.6% copper and 398.6 g/t silver was obtained from Zone 1. Zone 2 metallurgy is similar to Zone 1 such that material from both could potentially be blended together. In addition, Zone 2 contains more molybdenum, rhenium and gold that are potentially important by-products and geologically thought to reflect a copper-gold type deposit- something that is unusual in Highland Valley.
West Valley Property
Historically fragmented properties and owners, cursory style work, older technology, and large areas covered by glacial till have limited previous exploration effectiveness. The West Valley property contains a number of historical and recently discovered copper prospects. These are in proximity to dykes of the younger phases of the Guichon Batholith. Positive values of copper in drill core, rock and stream sediment samples, geology, structure and broad alteration zones suggest that the West Valley property hosts excellent potential for porphyry copper deposits.
The intra-batholith setting, strong deep-seated structural controls, predominance of bornite copper sulphides, minimal pyrite within younger phases and more pyrite in the older outer phases of the batholith respectively, suggest in part, that the porphyry copper systems reflect a relatively deep level of formation and have potential to be very large in size.