Happy Creek Minerals Ltd. Auditor Raises 'Going Concern' Doubt
Jun 4 15
Happy Creek Minerals Ltd. filed its Annual on Jun 04, 2015 for the period ending Jan 31, 2015. In this report its auditor, De Visser Gray, gave an unqualified opinion expressing doubt that the company can continue as a going concern.
Happy Creek Minerals Ltd. Announces Board Changes
Apr 8 15
Happy Creek Minerals Ltd. announced the addition of Mr. Paul Berndt to the company’s Board of Directors. Mr. Berndt is a resource development executive with extensive experience in taking projects to production, in particular, tungsten projects. The company also announced that it has accepted the resignation of Mr. Paul Reynolds as a Director, and he will continue his involvement with the company as an Advisor.
Happy Creek Minerals Ltd. Announces Results from Comprehensive Geological Work Performed on its Rateria and West Valley Copper Property in Highland Valley Area, British Columbia
Feb 19 15
Happy Creek Minerals Ltd. announced results from comprehensive geological work performed on its 100% owned Rateria and West Valley copper property in the Highland Valley area, British Columbia. The Company's property is approximately 180 square kilometres in area and adjoins Teck's Highland Valley Copper mine property. Key 2014 results: Detailed geological investigations provide a clear picture of the mineral zones, and where to focus work to expand existing zones, and increased confidence for new, large discoveries; Zone 2 preliminary metallurgical results are positive: Zone 2 has mineralogy and metallurgy compatible with Zone 1 so future resources may be combined, Rhenium is almost completely contained within molybdenite, Preliminary concentrate products include 7.7% molybdenum and 627 g/t rhenium. Further cleaning/upgrading is thought to have potential for 4 kg rhenium/tonne of molybdenum concentrate, Preliminary copper concentrate product returned 36.2% copper, 7.49 g/t goldand 189.0 g/t silver indicating gold is recoverable with copper, and Rhenium enrichment level appears similar to other B.C. copper-gold deposits, unlike others in Highland Valley; and Rock samples return up to 7.3% and 3.2% copper from West Valley and Rateria, respectively. During 2014, the company performed geological mapping, sampling, a LIDAR airborne topographic survey, drill core review, a TIMA petrographic study and metallurgical sample analyses. A plan view and cross sectional alteration map of Zone 1 and 2 advances understanding of the geology in the area. Rock samples from the Rateria and West Valley property returned positive copper values. An initial metallurgical test of Zone 2 indicates standard flotation methods can be used as for Zone 1, and potential for encouraging rhenium-molybdenum and copper-gold-silver concentrates. Rock grab samples from the West Valley returned from trace up to 7.3% copper and 8.2 g/t silver, and from the Rateria, trace to 3.21% copper, 23.0 g/t silver, 0.26 g/t gold, and 8.4 ppb palladium. Geological work included surface mapping around Zone 1 and 2 on the Rateria property. As 95% of the area is covered by glacial till, a review of drill core and TIMA petrographic analyses assisted this work. Results have outlined propylitic, phyllic and potassic alteration zones associated with copper sulphides that are porphyry style and structurally-controlled. In Zone 1, chalcopyrite is replaced by bornite which is largely replaced by digenite and chalcocite to around 300 metres below surface and is associated with quartz, plagioclase and muscovite minerals. Below 300 metres, phyllic alteration decreases and potassic alteration increases while positive copper values remain open at depth. Carbonate and clays such as kaolinite variably overprint earlier alteration. Dominant alteration assemblages depend on the composition of the host rocks; mineral zones in the younger more felsic phases of the Guichon batholith have predominantly quartz muscovite-sericite alteration, whereas in the more mafic phases, chlorite-epidote, carbonate, quartz -sericite and k-feldspar alteration occurs. The Yubet, Zone 1 and Zone 2 are in proximity to strong northerly trending structures and geological contacts of the Bethsaida, Skeena, Bethlehem and Guichon/Highland Valley phases of the Guichon Batholith. Dikes of pale green feldspar phyric and aplite composition occur. Geological, geophysical surveys and historical shallow percussion holes have identified several targets on the Rateria property that remain untested by drilling. A similar geological setting occurs over portions of the West Valley property, where over 75% of the area is covered by glacial till. Outcropping copper zones are in part hosted within more mafic rock phases cut by dykes of the more felsic phases of the batholith. The Company has identified at least three untested target areas thought to hold potential for large copper deposits. A 23.5 square kilometre LIDAR topographic survey covering the southern portion of the Rateria property has identified linear features that may be related to geological structures trending northward through the property towards Zone 1. Met-Solve Laboratories of Langley B.C. prepared a drill core composite sample from Zone 2 containing 0.44% copper, 0.01% molybdenum, 0.74 g/t rhenium (Re), 0.06 g/t gold and designed a test to focus on the potential recovery of rhenium in a molybdenite concentrate. Results from the rougher-scavenger and differential flotation concentrate recovered 54.5% of the molybdenum and 65% of rhenium into a first stage moly concentrate and scavenger with1.79% molybdenum and 168.24 g/t rhenium, 7.1% copper, 2.8 g/t gold, 99.28 g/t silver. As a cleaner concentrate returned 9.9% copper, 7.7% molybdenum and 627 ppm rhenium, further cleaning (removal of copper for one), could increase the molybdenum concentrate grade, however, this will require a larger bulk sample. Although not the main focus of this test, a rougher-cleaner float test contained a copper cleaner concentrate with 36.2% copper, 7.49 g/t gold and 189.0 g/t silver and suggests potential for a quality copper concentrate.