Silver Dollar

The Silver Dollar property is located approximately 45 kilometres southeast of Revelstoke, B.C., Canada. The property lies within the historical Camborne gold-silver mining camp and includes several historical past producing mines and developed prospects. The property covers over 10 km of the 40 km long Camborne structure containing past-producers and developed prospects of silver, gold, lead and zinc. There is access via logging roads through the property. Under NI43-101 (2001), 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 Silver Dollar or adjacent properties 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.

Silver Dollar Property Facts

            
Property 3303.8 Hectares or 33 square kilometres of mineral tenure
Ownership 100% Happy Creek Minerals Ltd. since 2011- Under Option to Explorex Resources Inc.
Key minerals present Gold, silver, zinc, lead, copper
Location 45 km southeast of Revelstoke, south-central British Columbia, Canada
Access Via paved and gravel roads from Trout Lake
Closest mine Covers several small scale past-producers.
Surveys completed Prospecting, geology, geochemical, geophysical
Project Stage Exploration.
Services 45 km southeast of Revelstoke, near small community of Trout Lake. Logging roads through property.

History

The Camborne mining district dates back to around 1900. Most of the mineral claims were Crown Grants or Leases that are much smaller in size than today’s claims, and were owned by numerous individuals or private companies. The early miners worked hard to find and develop their “ore” which was in part hand-cobbed, milled on site and shipped using horses to a smelter. There were two basic types of mineralization; gold-silver, and base metal with some or appreciable gold-silver values. The mines were developed on veins and shoots containing the highest grade they could find. The complex historical ownership and patchwork of small claims limited a systematic approach to exploration. The prospecting tools were basic but effective for the near-surface mineralized zones, and efforts were placed on mining high grade gold and silver, as the smelter charged penalties for zinc. Most of the development work was performed between 1900 and the 1920's. Periods of exploration was performed during the 1950's, and in the mid-1980's when several shallow diamond drill holes were completed. It wasn’t until Granges Inc. from 1985-1988, that more intensive drilling on the Goldfinch and adjoining Dorothy properties was performed. Their results confirmed the presence of good gold values and that new, blind high grade gold zones could be found by drilling. Granges advanced the project quickly with underground development and processed a bulk sample.

Goldfinch Summary (after Minfile 082KNW076)

A hydro plant, 1460-metre tramline and 10-stamp mill were installed on Menhinick creek in 1902-03. The company became insolvent and The Gold Finch Mining Company was formed to continue the operation. The mill operated for a short period in 1903-04, until a forest fire destroyed the tramline. Most of the development work was done on the Goldfinch claim. Ore for the mill came from a glory hole at elevation 1029 metres, about 100 metres southwest of the Independence group boundary. Two adits were driven on the Goldfinch, an upper (1023 level) and a lower (1003 level); the lower adit totalled 352 metres of drifts and crosscuts. In addition, an adit was reportedly driven 40 metres on the south side of Menhinick creek. In 1903, production of 726 tonnes yielded 16.2 kilograms of gold and 4.98 kilograms of silver and, in 1904 an additional 590 tonnes yielded 4.67 kilograms of gold and 633 grams of silver.

Eaton Mining & Exploration Ltd. acquired the Goldfinch and work in 1980 included geological mapping, a geochemical soil survey (166 samples), and rehabilitation of the adits; 269.8 tons of mineralized quartz from the upper adit was shipped to Trail smelter and averaged 0.30 oz/ton gold 0.35 oz/ton silver, 0.02% copper, 0.10% lead

Between 1985 and 1989, Granges performed diamond core drilling on the Goldfinch property as part of its Windflower project. “U’ drill holes are from underground workings

In 2015, Happy Creek Minerals Ltd. conducted a detailed soil geochemical survey on the Goldfinch prospect. Positive values of gold were obtained that extends the Goldfinch structure further south towards the Menhinick Creek zone. A second, sub-parallel zone occurs to the west. The southern-most line returned gold values in soil over 100 ppb (0.10 g/t Au) over a distance of 200 metres. Both geochemical zones are open in extent. These encouraging results are thought to reflect the Camborne structure, and no historical drilling is known for this area.

Silver Dollar Summary (After Minfile 082KNW101)

The history of the area dates back to the late 1800's, with development of the prospects performed by numerous individuals or small companies on a multitude of small mineral claims. In 1933, the Gillman shipped between one and fourteen tonnes of ore grading 62.0 g/t (grams per tonne) gold, 62.0 g/t silver. In 1947, the Silver Pass Development Syndicate processed 6 tonnes of ore and recovered 9,860 grams silver, 1,378 kilograms lead and 1,009 kilograms zinc. With multiple small claim owners, there was intermittent, fragmented surface work and underground development occurring into the 1950's. Ore shipments were transported to the smelter in Trail, B.C or the United States. In 1984 a drill hole on the Silver Dollar zone returned 2.10 meters grading 229.0 g/t silver, 1.0 g/t gold, 10.95% zinc, 4.04% lead and 0.29% copper. In 1986, a drill hole intersected 0.70 metres grading 38.0 g/t gold. The historical drilling appears to be relatively shallow in depth and selectively sampled with positive grade intervals open in width. Mineralized zones also remain open at depth. The drill holes also intersected mineralized zones that do not outcrop at surface which is an important indication that hidden or "blind" mineralized zones occur.
During 2012, Happy Creek Minerals completed a Heli-GT, three axis magnetic gradient, and spectrometer geophysical survey and collected 38 rock grab and chip samples from surface and historical underground development headings. Geophysical results identify the trend containing the known mineralized zones and other sub-parallel ones that extend through the property. The spectral and magnetic airborne geophysical surveys covered a nine-kilometer-long portion of the Camborne fault on the Silver Dollar property. Positive potassium and in part thorium/potassium ratio signatures form a broad envelope around multiple, sub-parallel northerly trending magnetic structures. These structures are coincident with mineral-controlling fault zones at the known prospects. Other structures are apparent from the data that are sub-parallel to the known mineralized zones.

2012 Silver Dollar Prospecting Rock Sample Highlights

                                                                               
Prospect  Sample
Type
 
Width
(m)
 
Sample
Number
 
Ag
g/t
 
Au
g/t
 
Cu
%
 
Pb
%
 
Zn
%
 
WheelbarrowGrab   E5631062213 7.560.07 11.61.9
WheelbarrowGrab   E56310646 5.460.00 0.10.0
GillmanGrab   E563106527 37.000.08 0.71.2
Silver Dollar Grab   E56310694496 4.493.20 1.68.3
Silver Dollar Grab   E5631070349 1.740.07 0.12.5
Silver Dollar Grab   E56310712219 3.570.82 18.14.4
Silver Dollar-Gillman Grab   E563107415 12.700.04 0.20.5
Silver Dollar-Gillman Grab   E5631076567 0.350.06 13.20.0
Silver Dollar Grab   E5631078687 2.910.09 16.00.1
Silver Dollar Grab   E5631079706 0.920.06 18.70.0
Silver Dollar Grab   E563108099 0.290.18 0.84.3
Silver Dollar Grab   E5631081374 3.510.16 2.80.7
Silver Dollar Grab   E5631084985 0.340.07 27.00.0
Silver Dollar Grab   E5631086216 50.300.08 1.40.8
Silver Dollar Chip1.2 E5631087280 0.940.30 4.116.1
Silver Dollar Chip1.8 E5631089241 1.670.24 3.916.8
Silver Dollar Chip1.5 E5631091117 0.270.00 0.10.0
Silver Dollar Grab   E563109260 10.100.03 0.40.1

Regional and Local Geology

The age of mineralization in the Beaton-Camborne camp coincides with a major late Cretaceous through early Tertiary tectonic transition (to 59 Ma) that is marked by uplift, decollement and intrusion in the Kootenay Arc. This was followed by extensional exhumation of the Monashee gneissic core complexes along the Columbia River and Slocan Lake faults. The Trout Lake intrusion dated 76 Ma (Boyle and Leitch, 1983) and associated Mo and W deposits represent the beginning, and the Ag, Pb, Zn veins, such as found at the Enterprise mine in the Slocan City area, dated 58.2 ± 0.7 Ma (Beaudoin et al.,1992), represent the culmination of the mineralizing cycle.

The Menhinick Creek area contains several mineralized quartz veins hosted in northwest trending, northeast dipping metamorphosed rocks of the Lower Cambrian and younger Lardeau Group. In this area the Lardeau Group consists of Broadview Formation grey and green phyllitic grit and phyllite, and Jowett Formation green phyllite, limy green phyllite and greenstone. Foliation generally strikes 320 degrees and dips between 35 and 75 degrees northeast with a predominance of steep dips. The rocks have been isoclinally folded and complexly faulted. The Finkle Creek synform is a major structure and passes through the area.

The rocks in the Goldfinch occurrence area are grouped into two units. The first is a series of silver to grey to dark grey gritty phyllites with local carbonaceous seams and layers of carbonate- sericite rock. Mariposite occurs locally in highly carbonatized rocks. The second unit comprises medium green, non-bedded to streaky phyllitic greenstone with dark green clasts and local silicic pebbles. Mineralization consists of native gold, pyrite, minor galena, chalcopyrite, sphalerite and trace tetrahedrite in a gangue of quartz with occasional calcite and graphite. Gold is generally associated with coarse-grained pyrite and visible native gold is rare but is present throughout the veins. The quartz veins are both vertical and sub-horizontal and vary from very narrow veinlets a few centimetres wide up to 6 metres wide. Locally they resemble a stockwork with a general strike of 315 to 335 degrees and 50 degree to vertical north dips. There is strong structural control, both through faulting and folding. Faults generally strike 335 degrees and dip steeply (80 degrees) southwest. Joints strike 315 degrees and dip flatly (20 degrees) southwest.

Silver-lead-zinc ores are typical of the central belt and occurrences to the northeast. The ore minerals are mainly pyrite, galena, sphalerite and smaller amounts of chalcopyrite and pyrrhotite. Silver is the most important commodity; it occurs in argentiferous tetrahedrite, galena and, less commonly, as native silver. Gold is present in small quantities and is rarely seen as native gold or electrum. Quartz is the dominant gangue mineral; however, carbonates such as ankerite, calcite and/or dolomite are significant gangue components in some veins. The deposits are characterized by open-space fillings with limited wall rock replacement. In a few places where replacement is important, carbonate gangue is relatively abundant. Gold can occur with either dominantly pyrite-bearing mineralized zones or with base metals and silver values. The age of mineralization in the Beaton-Camborne camp coincides with a major Late Cretaceous through Early Tertiary tectonic transition (to 59 Ma), marked by uplift, decollement and intrusion in the Kootenay Arc. This was followed by extensional exhumation of the Monashee gneissic core complexes along the Columbia River and Slocan Lake faults. The Trout Lake Intrusion dated 76 Ma and associated molybdenum and tungsten deposits represent the beginning, whereas the silver, lead, zinc veins— such as those found at the Enterprise mine in the Slocan City area, dated 58.2 ± 0.7 Ma— represent the culmination of the mineralizing cycle.