Highlights of new drill results
| Drill hole | From (m) | Interval Length (m) | W03 (%) tungsten trioxide | Kg of W03 per tonne |
| F13-08 | 12.0 | 14.8 | 0.59 | 5.9 |
| includes | 22.0 | 3.18 | 2.70 | 27.0 |
| F13-09 | 31.35 | 17.35 | 0.50 | 5.0 |
| includes | 48.0 | 1.0 | 3.69 | 36.9 |
| F13-15 | 24.0 | 4.0 | 0.58 | 5.8 |
| F13-19 | 31.75 | 26.25 | 1.19 | 11.9 |
| includes | 37.3 | 3.66 | 4.60 | 46.0 |
| F13-21 | 24.0 | 22.0 | 0.26 | 2.6 |
| Includes | 44.0 | 2.0 | 1.03 | 10.3 |
Review their results for the previous holes and you'll be amazed at the potential tonnage. They have tungsten practically sticking out of the ground. IRR anyone?
In recent developments HPY just hired a match maker. David Blann doesn't plan to give it away. If this round of match making fails so be it. There will always be another party who desperately needs the ore. I hope some billionaire reads this and realizes that a fair offer would make everyone a whole lot of money.
10 cents? Really! Let's hope it goes to 5 cents. I suspect that might not happen but we can hope.
David Blann, President and CEO of Happy Creek states: "Drilling continues to produce excellent tungsten grades and the RC zone is open for further expansion. New results from the RC prospect includes 3.66 metres of 4.6 percent tungsten, which is a similar grade to F12-27 located about one kilometre away at the BN prospect that returned14.98 metres of 4.0 percent tungsten. These very strong tungsten grades occur quite frequently on the Fox property and attest to the strength and quality of this mineral system. To date, we have focused on just a portion of one target that is approximately three kilometres by one kilometre in dimension. Results clearly warrant advancing the project and we see an excellent opportunity for an important new tungsten deposit to be developed in British Columbia."
Disclosure:
Hell ya I own HPY. I'd be nuts not to.
What is your target price on Happy Creek? What about Copper Fox? No write-ups on the Schaft Creek developments?
ReplyDeleteHPY has enough paydirt and so few shares that $1. is not out of the question. There are 57 million shares out. The capex will be 35 million. My gross estimate after recoveries is quite high. The last drilling showed a large increase in potential. To set a new number I will need to see more infill drilling this year. Due to the very high quality of near surface tungsten it is possible there will be an offer before we get this data. If they do drill it before an offer I expect a near doubling of the potential resource. I would also have solid footing to estimate what's recoverable. Also, a small change in the price could push it over a buck.
ReplyDeleteSchaft Creek: I've been told...
Detailed engineering – This stage includes completion of detailed designs based on the project scope and concept designs approved in the feasibility study, and the issuing of “for construction” designs, provision of construction and equipment specifications, scope of work packages for contract documents, definition of and procedures for construction quality control, etc. The purchase of key plant equipment often occurs prior to or in parallel with this stage of design, as vendor drawings for equipment are required in order to complete the detailed engineering designs.
Very interesting! Let us hope you are right. Did you happen to see the recent insider selling on Happy Creek shares? That was the reason that that? Any insights?
ReplyDeleteThanks
Missed your comment. No, nothing special with the insider sells.
ReplyDelete