Happy Creek expands Highland Valley property
08 Octobre 2013 - 7:00PM
Access Wire
October 8, 2013 - Vancouver, British
Columbia. Happy Creek Minerals Ltd. (TSXV:
HPY) (the "Company") is pleased to announce that it has added
additional mineral claims to its 100% owned Rateria and West Valley
copper property. These properties adjoin Teck's Highland Valley
Copper mine (HVC) property in south central British Columbia,
Canada.
The Tyner Lake Option
Agreement entails acquiring a 100% interest in 18 mineral claims
that total approximately 22.5 square kilometres in area. The
property adjoins the Company's Rateria and Teck's Highland Valley
property to the north and west, respectively. Happy Creek has also
acquired by staking for itself, a number of claims that connect the
Rateria-Tyner property to the company's West Valley
property.
Together, the Company
currently holds a 100% interest in a contiguous property of over
200 square kilometres that surrounds southern portion of Teck's HVC
property, Canada's largest copper producer. Exploration by the
Company on its Rateria property has located two new copper zones
with drill results including 95.0 metres of 0.67% copper, 3.6 g/t
silver in Zone 1 (see News Release dated July 31 2011). Zone 2 has
returned 152.5 metres of 0.35% copper, that includes 32.5 metres of
0.91% copper, 0.010% molybdenum, 4.0 g/t silver, 0.11 g/t gold and
1.83 g/t rhenium (see News Release dated January 14,
2013).
The Tyner property is
approximately 90% covered by glacial till, however airborne and
locally induced polarization geophysical surveys suggest the
property contains several strong northerly and northwesterly
trending structures that cross through the property. Locally the
property is thought to be underlain by younger phases of the
Guichon Batholith that are associated with copper deposits in the
district. The northeastern portion of the property hosts several
outcrops containing positive copper values.
Recent History
The area of the Tyner
property was explored intermittently between 1950 and 1982 with
limited effectiveness due largely to the extensive glacial till
cover. Between 2006 and 2008, TNR Gold conducted a more modern
induced polarization (IP) survey covering a limited portion of the
property and mainly focused on historical positive copper in
glacial till. The IP survey returned relatively low chargeability
values that were subsequently drill tested, however results are not
known and the property was allowed to lapse.
Also in 2006 and to
the west, Teck performed a thorough induced polarization
geophysical survey covering its SKU claims, and continues to hold
the property. A report on the results of the survey are available
in B.C. government files, and were reviewed by Happy Creek. The
report concludes that there are several areas of considerable size
with persistent elevated chargeability values that require further
geological investigation. Several of these positive geophysical
responses are noted to extend out to the east and west edges of the
survey. Two areas of positive geophysical response are about one
kilometre in a north-south dimension and remain open in extent to
the east onto Happy Creek's Tyner property. Another is
approximately 600 metres in a north-south dimension and remains
open in extent to the west onto Happy Creek's West Valley property.
In these areas, no modern exploration work is known.
A prospecting report
on the Tyner property in 2012 includes samples returning
geochemical values of 0.16, 0.91 and 0.83% copper from the
northeastern portion of the property- where several outcrops occur.
One sample located north of an historical adit returned 4.82 %
copper, 0.19 g/t gold and 27.1 g/t silver is thought to reflect
part of a large scale northwest trending structure that trends
through the Tyner and onto the Company's Rateria
property.
David Blann,
President and CEO of Happy Creek states "The Tyner property is a
natural addition to the Company's Rateria property to the south. We
see favorable geology and positive historical geophysical survey
results that are similar to our Zone 1, and open in extent onto our
property. With over 200 square kilometres of mineral claims and two
new discoveries to date in this prolific mining district we are
well positioned to find more."
To earn a100%
interest in the Tyner property, the Company must pay to an arm's
length vendor a total of $30,000 in cash and issue 500,000 shares
by September 27, 2014. The Vendor retains a 2% Net Smelter Return
Royalty (NSRR), with the Company having the exclusive right to
purchase the NSRR for $2,000,000 in cash. There are no fixed work
commitments during the earn-in period other than to maintain the
property in good standing.
On behalf of the Board of
Directors,
"David E
Blann"
____________________
David E Blann, P.Eng.
President, CEO
FOR FURTHER INFORMATION PLEASE
CONTACT:
David Blann, President, CEO
Corporate Office:
Phone: 604.662.8310
Email: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Registered Investor
Relations:
James Berard Phone: 604-687-2768 Toll free:
1-877-459-5507
David Blann, P.Eng.,
is a Qualified Person as defined under Canadian NI43-101
regulations and has reviewed and approved the technical content of
this press release. 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.
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