The discovery of a big tungsten-molybdenum system on its wholly owned Fox property, in B.C., has Happy Creek Minerals (HPY-V, HPYCF-O) smiling again.
The penny junior says it intersected tungsten and molybdenum mineralization in all 13 of the holes it has drilled on the property. Mineralized zones occur from surface to over 500 metres downdip and 1.5 km along strike, remaining open.
The drill holes all intersected zones between about 3 and 6 metres in thickness. The company says drill core consists of quartz, limestone, calc silicate and garnet, pyroxene, vesuvianite skarn containing valuable concentrations of scheelite (tungsten mineral) and molybdenite.
Happy Creek has also identified “the potential for a large molybdenum porphyry system near the bottom of the drill holes,” the company said in a statement.
In addition, soil and rock geochemical samples taken from its Ridley Creek area indicate the continuation of the tungsten-molybdenum system about 4 km north of the current drilling.
A total of 421 soil samples from the Ridley Creek grid contained less than 0.1 part per million (ppm) tungsten to greater than 100 ppm tungsten, and 0.6 to 47 ppm molybdenum.
Happy Creek’s 225-sq.-km Fox property is situated about 50 km northeast of 100 Mile House in B.C.’s south-central Cariboo region.
The positive news comes after the company’s share price tanked in February, when Happy Creek released disappointing drill results from its Rateria copper property in southern B.C.
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