Happy Creek steps to the forefront as leading candidate for supply of NA tungsten
Happy Creek Minerals Ltd. (TSXV: HPY) is a mineral exploration company focused on the development of its two key projects, their flagship Fox Tungsten Project and the Highland Valley Copper Project in south central British Columbia, Canada.
The Fox Tungsten Project.
With among the highest tungsten grade resource in the western world and seven mineralized zones in a 10 km by 3 km mineral system, the Fox property represents an important new tungsten prospect, as it’s a very rare at-surface high-grade discovery.
The Company has taken this 100% owned project from a very early stage to NI43-101 compliant indicated and inferred resources and continues to expand the resource potential. Other metals such as zinc, indium, bismuth, gold and silver occur with tungsten that are not included in the resource. The Company plans to continue expanding the resources and advance the Fox project to a Preliminary Economic Assessment.
Happy Creek’s Fox project is now at 4.8 million Kg WO3 indicated and 6.9 million Kg WO3 inferred. The total Indicated Resources for the Ridley Creek zone amount to 582,400 tonnes grading 0.826% WO3 and the total Inferred Resource is now 565,000 tonnes grading 1.231% WO3 for the Ridley Creek, BN and BK Zones combined. By comparison, two western publicly listed tungsten companies are currently mining grades of approximately 0.18 – 0.23% WO3.
Fox is 30 km from a past-producing mine, it has road access, good infrastructure and hydro-power (17 km away).
CEO, President and Director, David Blann states: “We have actually been involved in this tungsten project for over 20 years, long before it became a fashionable new thing. Really tungsten is a special metal. There is not any production of any consequence done in North America. 99% of the tungsten is imported into North America.”
The Highland Valley Copper Project
The project covers two 100% owned adjoining properties, Rateria and West Valley. Collectively adding up to 17,625 hectares within the Highland Valley district. The district is known for hosting five deposits that have achieved production making it Canada’s largest copper producer.
Happy Creek has discovered two new copper zones thought to have near-term resource potential and are located approximately 6.5 km southeast of the producing Highmont deposit. Drilling by the Company in Zone 1 and 2 has returned 95.0 meters of 0.67% copper and 152.5 meters of 0.35% copper, 0.12 g/t gold, respectively. Drill grades appear consistent with currently mined deposits in the district, and the zones are open.
On July 20th 2018, Happy Creek provided an update on fieldwork at Highland Valley. Over the past 6 weeks, mapping has focused on the Rateria property and has located many old trenches, mineralized prospects and other outcrops uncovered by recent logging operations. As over 90% of the property is covered by glacial till, data from any visible bedrock is important. The geological focus was to identify the specific rock types, structures, alteration and mineralization present and merge the data with subsurface information from geophysics and historical drilling. This is generating a large-scale property-wide perspective for prioritizing exploration for future porphyry copper deposits. The project has excellent infrastructure, year-round exploration access with moderate climate, terrain and recent intensive forestry activity/roads and openings. Added to this is a low cost of exploration in a highly productive geological setting.
Happy Creek Minerals Ltd. has a market cap of C$ 14.3 m.
Happy Creek Minerals Ltd. is focused on adding value to the Company for its shareholders by making new discoveries in proximity to mines and existing infrastructure. The Company has a diversified metal exploration portfolio in a safe geopolitical jurisdiction, and has completed much of the early-stage exploration on its properties to select quality opportunities. With two new discoveries that are advancing to resource definition and economic analyses, the Company is positioned for additional success with drill-ready targets identified on several other properties within their projects. One to watch.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>