Happy Creek reports new discovery on Fox property

The discovery of a big tungsten and molybdenum system on its fully owned Fox property has Happy Creek Minerals (HPY-V) smiling again.

The penny junior say it intersected tungsten and molybdenum mineralization in all ten of the holes it has drilled on the property. Mineralized zones occur from surface to over 500 metres down dip and 1.5 kilometres along strike and remain open in extent.

The drill holes all intersected zones between about 3 and 6 metres in thickness. Drill core is described as comprised of quartz, limestone, calc silicate and garnet, pyroxene, vesuvianite skarn containing valuable concentrations of scheelite (tungsten mineral) and molybdenite (molybdenum mineral).

Happy Creek has also identified the potential for a large molybdenum porphyry system near the bottom of the drill holes, it stated in a press release.

In addition, soil and rock geochemical samples taken from its Ridley Creek area indicate the continuation of the tungsten molybdenum system about 4 km to the north of the current drilling.

A total of 421 soil samples from the Ridley Creek grid contained less than 0.1 to greater than 100 parts per million tungsten, and 0.6 to 47.0 parts per million of molybdenum.

Happy Creeks 225 sq.-km Fox property is situated about 50 km northeast of 100 Mile House in British Columbias south-central Cariboo region.

The positive news comes after the companys share price tanked in February when Happy Creek released disappointing drill results for its Rateria copper property in southern B.C.

The companys shares on the Toronto Venture Exchange inched up 7, or 22.58%, to close at 38 apiece, on a trading volume of 169,100.