Business
Happy Creek provides exploration plans for 2010
Happy Creek provides exploration plans for 2010
About this update from South Atlantic Gold, Inc.
[{"type":"text","content":"\nHappy Creek provides exploration plans for 2010\n\n\n Mar. 29, 2010 (TheNewswire.ca) -- March 29, 2010 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (OOTC:HPYCF) (TSXV:HPY) (TSX-V: HPY, the \"Company\") is pleased to provide an update on its properties and current exploration plans. During 2010, the Company will see at least three of its British Columbia properties drilled- the Rateria, West Valley and Hawk property, and drilling is also proposed for later in the year at the Company's Golden Ledge property.Highland Valley copper-molybdenum propertyThe Company plans to continue to outline and expand by drilling its two recently discovered copper zones and test several quality exploration targets on its 100% owned 145 square kilometer Highland Valley properties. The Rateria and West Valley properties adjoin Teck's Highland Valley Copper mine property-Canada's largest copper producer that is currently mining material averaging 0.34% copper. Results to date from the Rateria property include 177 metres grading 0.37% copper in Zone 2, and 100.0 metres grading 0.29% copper in Zone 1. Both Zone 1 and 2 remain undefined and open for expansion, with several drill holes ending in mineralization. Recently, the Company announced significant rhenium values in a portion of re-analyzed drill core including 12.0 metres containing 1.38% copper, 0.010% molybdenum, 2.85 g/t (grams per tonne) rhenium and 7.1 g/t silver, and 38.2 metres containing 0.11% copper, 0.029% molybdenum, and 2.14 g/t rhenium. Rhenium is a rare metal currently priced around $6.0 per gram, and appears to be associated with molybdenum. Zone 2 occurs near the geological contacts of the Skeena, Bethsaida and Bethlehem phases of the Guichon Batholith that is an important similarity to the known ore deposits currently being mined to the northwest. These rock types along with the favorable mineralogy present and zones containing greater than 1% copper are thought to be strongly encouraging at the current stage of exploration. Further drilling is planned to fully outline and expand Zone 2 and Zone 1 in all directions. In light of the significant rhenium values associated with molybdenum, the Company has compiled historical exploration results and re-processed geophysical and geochemical data which has identified several new, untested drill targets. To the west of Zone 1...