Happy Creek Minerals (TSXV:HPY) has announced a summary of exploration work completed in 2016 on its 100-percent owned Fox tungsten property in British Columbia.
As quoted in the press release:
Between May and October 12, 2016, the Company completed 2,330 metres of drilling in 28 holes, 79 metres of surface chip and channel sampling, 1.2 km of access trail construction between the BN and Ridley Creek zones, 61 contour soil samples between the BN and BK zones, and geological mapping with 23 rock samples collected for assay. A table of drill and trench results accompany this news release on the Company’s website. Initial exploration and drill results were announced June 27, September 26, October 24, and October 31, 2016. New results presented here include additional soil, rock, trench and drill results with a view to the exploration potential for expanding the current resource as announced January 26, 2017. Drill and trench results are uncut, intervals presented are measured down-hole and true widths are estimated to be 75 to 95 percent of the interval. Tungsten assays are reported as percent WO3 (tungsten trioxide) as it is the compound for which prices are based, and is currently reported around US$21.0 per Kg WO3 while in 2012 it was around US$40.0 per Kg WO3. For reference, a grade of 0.8% WO3 contains 8.0 kg/tonne of WO3.
David Blann, P.Eng., President and CEO of Happy Creek states: “During 2016, we increased the Fox’s contained tungsten by two and a half times while being among the highest grade in the industry, and a good portion occurs in a low-strip, surface-cut setting. The inferred resource at the BN zone with 1.89 percent WO3 is globally among the highest grade. In addition, new mineralized prospects found at surface are closing the gaps between the 708, BN, Ridley Creek and BK zones that span three kilometres, and the project is thought to hold great resource potential in the 10 km by 3 km mineral system. With less than one percent of North America’s tungsten consumption mined here, the Fox is on track to be an important new development project with excellent grade, size potential and proximity to infrastructure. We look forward to advancing this project further in 2017.”