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Happy Creek Minerals Ltd.
Summary
| Project: | Rateria | |
|---|---|---|
| Deposit: | Zone 2 | |
| Location: | Canada | |
| Commodities: | Copper-Gold-Silver-Molybdenum-Rhenium | |
| Date: | 2/8/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-2-2018: Happy Creek Minerals Ltd. announces an Exploration/Drilling Update report for its Zone 2 deposit at the Rateria project. Drilling results incl. 208.5m @ 0.24% Cu, 0.03g/t Au, 1.2g/t Ag, 0.003% Mo, 0.17g/t Re from 55m. February 8, 2018 – Vancouve | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Blann (Internal) | |
| ABSTRACT: | February 8, 2018 – Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is announcing final results from drilling performed in 2017 at its 100% owned Rateria copper property in the Highland Valley district, B.C., Canada. The Highland Valley district has been in continuous production since 1963 with four porphyry copper deposits. The Company is exploring approximately 200 square kilometres of mineral tenure that adjoin and surround the southern end of Teck Resources’ Highland Valley Copper property, Canada’s largest base metal mine. In 2017, Happy Creek completed 2,682.7 metres in ten holes with nine performed in and around the Zone 2 deposit that is located approximately 6.5 km southeast of Teck’s currently producing Highmont open pit. Results for drill holes R17-01 to R17-06 were announced August 29th, 2017 and new results are for four holes R17-07 to R17-10 completed in November 2017. Maps can be found in an updated presentation on the Company’s website. Drill hole R17-07 is located on the west side of Zone 2 and returned among the highest rhenium values obtained to date including one metre of 16.8 g/t rhenium with 0.138% molybdenum and 18.9 metres of 1.94 g/t rhenium with 0.016% molybdenum and 0.12% copper. Near the end of the hole at 279.5 metres, 17.5 metres contains 0.14% copper that remains open. Rhenium occurs within molybdenite and is a byproduct of some porphyry copper-molybdenum deposits. It is a rare metal used mainly in nickel-based superalloys used to produce high performance gas turbines (78% of demand) with the current mid-market spot price of US$2,030/Kg, while in September, 2008, the price peaked at US$10,500/Kg. The market outlook for rhenium is positive with total demand forecast to grow at 6% through to 2020. | |
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