Mr. Michael Cathro reports
HAPPY CREEK REPORTS ON NEW COPPER TARGETS AT HIGHLAND VALLEY
Happy Creek Minerals Ltd. has released the results of fieldwork and geophysical
modelling completed at the company's 100-per-cent-owned, 240-square-kilometre Highland Valley
project in Southern British Columbia.
Highlights:
- A deep-looking, audiomagnetotelluric survey was completed in December,
2023, in the northern part of the project area. The data were further processed by 3-D
inversion modelling. This method is useful in identifying geology, and areas of
sulphide mineralization, rock fracturing and alteration, which can be closely
associated with porphyry copper mineralization.
- The AMT work identified several very large resistive or conductive
anomalies over one kilometre in diameter and extending to depths of greater than
one kilometre. These features occur beneath or in proximity to known porphyry
copper-molybdenum-gold-silver mineralization in rock and soil at surface or in
shallow drill holes.
- In addition, new 3-D inversion modelling of airborne magnetic data have identified
similarly large and deep anomalies, with kilometre-scale footprints and depth
extents. The most interesting features are magnetic lows, which are interpreted to
represent younger, low-magnetic felsic intrusions and/or altered rocks that may be
associated with untested copper mineralization extending to depth. Some of these
are associated with the AMT anomalies.
- Interpretation of new soil and stream sediment geochemical survey results has
identified multiple copper anomalies of up to 500 by 750 metres in diameter, particularly
in the Mystery Zone 2 trend, north of Knight Lake and southeast of Billy Lake.
- Rock sampling in the Abbott area of the West Valley property discovered several
new bedrock occurrences of copper mineralization with grab samples returning up
to 0.32 per cent copper. Sampling of trench dump material from the historical Tar
Minfile showing assayed 2.37 per cent copper, 100 parts per million molybdenum and 31.8 ppm
silver.
- Over all, the results have identified multiple new anomalies both near surface and at
depth that will be targeted for future drill testing.
Michael Cathro, Happy Creek's president and chief executive officer, commented: "The new geophysical,
geochemical and rock sampling results provide further evidence for a large-scale copper porphyry
deposit at our Highland Valley project. The results suggest that known near-surface copper
mineralization could extend to depths greater than one kilometre. The work also identified new
copper mineralization at surface in areas with limited historic drilling. We are very excited about
these results, and plan to drill test the new geological and geophysical anomalies as soon as
possible."
The Highland Valley project
The company's 100-per-cent-owned Highland Valley project, comprising the contiguous West
Valley and Rateria properties, totals approximately 240 square kilometres. Happy Creek's
Highland Valley project is adjacent to Teck's Highland Valley Copper (HVC) mine that is Canada's
largest copper mine with continuous production over a 60 years.
Happy Creek's Zone 1 and Zone 2 discoveries, which lie just 6.5 kilometres southeast of HVC's
Highmont open pits, show laterally continuous mineralization that has been outlined with 28,000
metres of drilling and remain open in several directions.
2023-2024 fieldwork and geophysical processing
As announced on Dec. 18, 2023, the company recently completed rock and soil
geochemical sampling, a deep-looking ground audiomagnetotelluric survey, and 3-D
inversion modelling of AMT resistivity and airborne magnetic data. The geophysical survey and
modelling were conducted by Peter E. Wallcott & Associates Ltd. and focused on the
northeastern part of the property covering the Zone 1 and Zone 2 copper deposits and nearby
targets. Geological work and rock sampling were also performed on the Abbott area in
the southwestern part of the property.
Geophysical survey results
In December, 2023, Happy Creek completed a ground-based AMT survey on the Highland Valley
project. This was the first AMT survey ever completed on the project, and has identified several very large and deep resistive or conductive features partially coincident with
known mineralization at surface and in drill holes. The AMT survey results
indicate areas with high resistivity that may potentially represent important younger-aged felsic
intrusions and/or low-resistivity (more conductive) areas that are interpreted to represent rock
fracturing, structures and associated alteration. Both are useful to interpret geology which can be
associated with buried copper porphyry mineralization. (See the news release of Dec. 18, 2023,
for further details.)
Several strong, deep, subcircular magnetic low anomalies are seen in the 3-D inversion modelling. These are interpreted to represent younger, low-magnetic felsic intrusions
and/or altered rocks that may be associated with untested mineralization extending to depth. They
occur in proximity to known mineralization and/or untested soil and rock copper geochemical
anomalies.
Rateria soil, stream sediment sampling program results
In 2023, the company collected 165 reconnaissance soil (glacial till) and 10 stream sediment
geochemical samples in the northern part of Rateria property. The results indicate several new areas
of interest at the Mystery Lake target, at the Knight Lake area and southeast of Billy Lake. The
thickness and composition of glacial till are variable, and therefore, care must be taken to interpret
the results.
Soil samples returned values from 18 to 1,580 ppm copper and one to 293 ppm molybdenum. Based
on several thousand samples collected by the company and others over the years, values for
greater than 90 ppm copper and three ppm molybdenum are considered minimum anomalous values
(85th percentile) in this environment.
Several new or expanded soil and stream sediment geochemical anomalies were outlined,
particularly in the Mystery Zone 2 corridor, north of Knight Lake and southeast of Billy Lake.
These anomalies have received only cursory exploration and almost no drilling.
Values from the stream sediment samples range from 220 ppm to 3,250 ppm copper and two to 80
ppm molybdenum with five samples greater than 500 ppm copper.
Review of key target areas
Zone 1 and Yubet target
Previous drilling at the Zone 1 copper deposit has encountered broad and locally strong grades
of copper mineralization including 236 metres grading 0.27 per cent copper in drill hole R10-12, and 95 m grading 0.65 per cent Cu in hole R11-01. The copper mineralization has been defined over
a strike distance of approximately 1,200 m and to a depth of approximately 250 m, and remains
open to depth.
The new 3-D geophysical modelling over Zone 1 indicates it is underlain by a circular resistivity
high and a strong north-trending magnetic low feature, both of which extend to depth. Based on previous drilling results, the magnetic low is associated with porphyry-related
fracturing, alteration and copper mineralization near surface, and the magnetic low feature
extends to more than 1,500 metres below surface. Subcircular and linear-shaped strong magnetic low
features to the southeast and west, including the Yubet target, are only sparsely drill tested and
represent similar, parallel targets as Zone 1.
Zone 2, Zone 2 northeast and Billy South
Drilling at Zone 2 has traced porphyry copper-molybdenum-gold-silver mineralization over a
length of 1,000 m and to a depth of 300 m. It remains open in several directions. Highlight results
include 105.5 m grading 0.37 per cent copper and 0.14 gram per tonne gold, including 46 m grading 0.64 per cent Cu and 0.30
g/t Au in hole R17-05, and 152.5 m grading 0.35 per cent Cu and 0.06 g/t Au in R12-2.
The 3-D geophysical modelling results indicate the mineralization occurs above and on the flank
of a coincident resistivity high and magnetic high. Strong magnetic lows
extend to depths of 700 m to the east and west of the zone and a very prominent subcircular
resistivity low (conductivity high) extend to depths of greater than 1,000 m below surface and are
coincident with the magnetic low to the east. This area, known as the Zone 2 NE target, has a
strong copper-in-soil anomaly and has been only tested by three drill holes. Hole R17-02 returned
five m grading 4.41 per cent Cu, 0.03 per cent Mo, 0.21 g/t Au, 20 g/t Ag and 6.86 g/t rhenium.
Farther east, additional deep magnetic and resistive features are associated with the south end
of the 3.5-kilometre-long Billy copper-in-soil anomaly. Grab rock samples at the Billy Road
prospect have returned values in the range of 1 to 3 per cent copper with corresponding anomalous gold
and silver values. One historic drill hole, 93CVS-5, tested a small portion of this very large target,
and returned anomalous values up to 0.11 per cent copper.
Mystery and Billy North
The Mystery target area is located approximately 3.5 kilometres southeast of the Highmont open pit. Mystery covers an area of approximately 2,500 m by 1,000 m, and includes historic drill
hole 93CVS-11 that is reported to have cut 230 m of intense sericite and potassium feldspar
alteration, quartz-sulphide veining, and several short zones of porphyry-style copper-molybdenum
mineralization extending to the end of the hole (see news release of Oct. 11, 2023, for further
details). A second hole located 400 m to the southwest, 93CVS-13, cut weaker mineralization.
The Mystery target is underlain by Bethsaida, Skeena and Bethlehem rock units (core phases),
which host the main deposits in Highland Valley.
The AMT model defines a 500-metre-by-500-metre resistive high near hole 93CVS-11 that extends to
greater-than-1,500-metre depth. The resistive anomaly is surrounded by two broad conductive zones
(low resistivity) with a coincident strong magnetic low extending to greater than 750 m below
surface. New copper-molybdenum soil geochemical anomalies were defined by 2023 surface
sampling in the Mystery target areas. Six hundred metres to the east of hole 93CVS-11 and in the heart of magnetic and resistivity low features, an outcrop of sericite-altered quartz diorite with
local quartz veins and trace copper minerals was found in 2023, and a grab sample returned
0.165 per cent copper. A historical rock sample containing 1.45 per cent copper is located 250 m southeast.
At the Billy Lake North target to the east, geological work in 2023 located outcrop with dikes of
the favourable younger intrusive phase, cut by quartz-sericite veins. Assays of grab rock samples
returned up to 1.35 per cent copper and 0.031 ppm gold, confirming that the 3.5-kilometre-long Billy
Lake copper soil anomaly is associated with in-place porphyry-style mineralization. In this area,
geophysical modelling indicates a strong, irregular shaped magnetic and resistivity low
(conductive zone) extends to over 1,500 m below surface (Section A-A). Together, these features
are interpreted to represent a potential altered porphyry centre beneath anomalous copper in soils
and rocks at surface. There is no record of previous drilling in this area.
West Valley prospecting and mapping
In the Abbott area of the West Valley claim block, field investigations were conducted in an area
affected by extensive 2021 forest fire damage, road building and salvage logging, which provide
new rock exposures. Mapping shows the Guichon Creek batholith is in northwesterly contact with
Nicola group volcanic sediments to the southwest, and the younger Spences Bridge group
overlies the older rocks. Numerous copper showings occur in the Guichon batholith and the
Nicola group rocks.
In 2023, additional copper showings with skarn-like character were located within the Nicola
group, and a quartz vein with chalcopyrite returned 0.322 per cent copper. This sample occurs adjacent
to an induced polarization geophysical anomaly and the regional-scale Lornex fault.
The historical Tar showing was located, and a sample of trench dump material containing
chalcopyrite, bornite and chalcocite returned 2.37 per cent copper, 100 ppm molybdenum and 31.8 g/t
silver hosted by Guichon batholith diorite. Green feldspar porphyry dikes, k-feldspar, quartz,
chlorite, epidote and sericite alteration with copper-molybdenum values are similar to several
other copper showings up to three and four kilometres away in the Abbott-Skuhun Creek area that together indicate
potential for a large-scale mineral system.
Qualified person statement
The technical and scientific contents of this release have been prepared, verified and approved
by David Blann, PEng, a director of the company, a qualified person pursuant to National
Instrument 43-101 (Standards of Disclosure for Mineral Projects). Rock, soil and stream sediment
samples are prepared and analyzed at ALS Canada Ltd. in North Vancouver, B.C., ISO/IEC
17025:2017 accredited in North America. Soil and stream sediment analyses are analyzed by
method Prep-41, screen to minus 180 micrometres, ME-ICP41 aqua regia digest and 30-gram fire assay gold by
Au-ICP21. Results are provided in ppm. Rock samples are analyzed using method Prep 31 and
four-acid digestion ME-MS-61 ICP-MS, and 30-gram fire assay gold by method Au-ICP21. Samples
returning greater than 10,000 ppm copper are rerun utilizing four-acid ME OG62/ICP-AES, providing
values in per cent copper.
About Happy Creek Minerals Ltd.
Happy Creek is focused on making new discoveries and building resources in proximity to
infrastructure on the company's 100-per-cent-owned portfolio of diversified metal projects in
British Columbia.
Projects include the Highland Valley project, adjacent to Teck's Highland Valley copper mine, that
has been in continuous production for over 60 years, the high-grade Fox tungsten deposit, the
Silverboss molybdenum-copper-gold-silver project adjacent to Glencore's closed Boss Mountain
molybdenum mine, and the adjacent Hen-Art-DL gold and silver project.
Happy Creek is committed to responsible mineral resource development. The company's priority
is to build and sustain mutually beneficial relationships with indigenous communities in the
territories in which the company explores.
We seek Safe Harbor.
© 2024 Canjex Publishing Ltd. All rights reserved.