Business
Happy Creek's Fox tungsten property, Ridley Creek zone Includes 505,000 tonnes of 0.468% W03 Indicated at 4.1:1 strip ratio
(via Thenewswire.ca) Vancouver, British Columbia / TheNewswire / March 15th, 2016 - Happy ...
About this update from Fox Tungsten Ltd.
[{"type":"text","content":"Happy Creek's Fox tungsten property, Ridley Creek zone Includes 505,000 tonnes of 0.468% W03 Indicated at 4.1:1 strip ratio(via Thenewswire.ca)\n\n \nVancouver, British Columbia / TheNewswire / March 15th, 2016 - Happy Creek Minerals Ltd. (TSXV: HPY) (the \"Company), is pleased to announce, effective today, its first resource estimate prepared in accordance with National Instrument (NI) 43-101 for the Ridley Creek zone on its 100% owned Fox tungsten property. The Fox property is located 75 km northeast of 100 Mile House in the south central Cariboo, British Columbia, Canada. \n\n\n \nThe Fox property consists of a new, large scale, 10 km by 3 km tungsten skarn mineral system containing seven mineralized zones at surface. All zones are open in extent. The Ridley Creek zone is currently approximately 350 metres by 175 metres in dimension. It is a gently dipping tabular body approximately 5 metres to 25 metres in thickness with the top at surface to approximately 25 metres below surface. The current resource for the project is for the Ridley Creek (RC) zone. \n\n\n \nAt the 0.1% WO3 cut-off selected and within the resource constraining pit shell, the Indicated resource is estimated at 505,000 tonnes grading 0.468% WO3. Inferred resources are 280,000 tonnes of 0.456% WO3 (Table 1). \n\n\n \nTable 1: Resource Estimate at a 0.1% WO3 Cut-off\n\n \n\nClassification\n\n\n\n\nWO3 Cut-off\n(%)\n\n\n\n\nTonnage\n(t)\n\n\n\n\nWO3\n(%)\n\n\n\n\nWO3\n(MTU)\n\n\n\n\nIndicated\n\n\n\n\n>0.1\n\n\n\n\n505,000\n\n\n\n\n0.468\n\n\n\n\n237,000\n\n\n\n\nInferred\n\n\n\n\n>0.1\n\n\n\n\n280,000\n\n\n\n\n0.456\n\n\n\n\n127,000\n\n\n\n \nNote: Cut-off determined by using a WO3 price of CDN$208.15/MTU WO3. \n\n\n \nDavid Blann, P.Eng., President, CEO, comments: \"For a single, 45-degree pit-constrained tungsten resource using current metal prices, the Ridley Creek zone has a combination of grade and low strip ratio that are an excellent start. The deposit is still open in extent and we have six other zones that could potentially add to this. The work completed has provided a solid technical foundation to continue with more detailed engineering and assessment, and with the efficient drill-out of this and our other zones. As a new discovery in the western world, we are pleased to achieve this milestone and we look forward to advancing the 100% owned Fo...