Happy Creek identifies anomalies at Highland Valley
2024-03-11 02:03 ET - News Release
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.