VANCOUVER, British Columbia, Dec. 17, 2024 (GLOBE NEWSWIRE) — Hi-View Resources Inc. (‘Hi-View’ or the ‘Company’) (CSE: HVW; OTCQB: HVWRF; FSE: B63) is pleased to announce it has acquired a 100% interest in a highly prospective mineral claim package spanning over 609 hectares, located in the “Babine” Copper-Gold porphyry district of central British Columbia. Hi-View’s claims are easily accessible from the mining Town of Smithers, located approximately 90 km to the southwest and connected via highway and rail to major BC ports. The property exhibits favorable topography and significant infrastructure in place leading to potential low-cost exploration.
Hi-View’s Babine claim package is located approximately 12 kilometers to the southeast of American Eagle Gold’s “NAK” deposit and is situated on-trend and within similar geology to the NAK and Amarc Resources Ltd. “DUKE” deposits. Recent significant funding by Teck Resources Limited and South32 Ltd. into American Eagle Gold has increased their cash to approximately $37 million enabling a comprehensive drill program to test the full extent of the nearby NAK system (see AE press release dated November 11th, 2024) ensuring an active exploration camp.
Hi-View Resources President and CEO Howard Milne states, “With gold prices recently hitting all-time highs and copper forecasting high demand as a critical metal in the Green Energy Transition, we are excited to add this highly prospective and strategically located property to our Gold and Copper exploration portfolio. This Babine area claim package is in proximity and on trend with several established Gold and Copper porphyry deposits in the area.”
Figure 1. Hi-View’s Babine mineral claim and American Eagle’s NAK deposit and Amarc’s DUKE deposit
A review of the regional historical data and geological studies of the area highlights its potential for mineral exploration. Historical work includes regional government surveys including aerial geophysics, and surficial sampling.
Two government geophysics surveys were flown over this area, the 2016 Search Phase ll airborne magnetic and radiometric surveys and the 2008 Quest-West Project airborne electromagnetic and gravity surveys. The claim package sits on the eastern edge of Block 1 of the Quest-West Survey and only one flight line passes through the claim, search Phase ll is higher detail and provides useful information on the regional context of the claim.
There are two surface sampling datasets that cover this area. The 2008 Quest-West Project included the collection of new and re-analysis of historical stream and sediment samples. In 2009, archived till samples from the 1995 NATMAP program were re-analyzed due to advances in analytical instrumentation.
Historical Data and Geological Context
Hi-View’s Babine claim package is situated within the Jurassic Hazelton Group volcanics at the contact with the Triassic Takla Group volcanic and marine sedimentary rocks. Porphyry deposits in the area including Hearne Hill, Duke and Nak are associated with intrusions of the Babine Plutonic Suite (EBgd) into the Hazelton Group volcanics, several of these plutons are mapped to the immediate east of the Claim (Figure 2 below). The faulted contact between Hazelton and Takla volcanics is an important marker horizon for porphyry and epithermal exploration in northern British Columbia, as it represents deep structures which may be utilized by ascending mineralization forming fluids (Nelson and Kyba, 2014).
The claim package is largely covered by glacial till and situated within a deep north to northeastern valley. The direction of ice flow in the area is mapped as south-southeast (Huntley et al., 1996, Stumpf et al., 1996 and Ferbey et al., 2009). Anomalies in till and lake or stream sediments will have been displaced to the south to southeast, which is evident in the dispersion of anomalous copper (>40 ppm Cu in Lake and Stream and >85 ppm Cu in Till) sediments to the south and southeast of both the Nak and Duke prospects. There are three anomalous copper in lake sediment samples and three anomalous copper in Till samples south and southeast of the Hi-View’s Babine Claim.
The Search Phase ll airborne magnetic survey shows a northwest trending structural trend from the Nak and Duke prospects, Mast and Hautete showings, and continues onto Hi-View’s Babine claim package. The magnetics over the claim area appear muted compared to Nak, Duke, Mast and Hautete. This is assumed to be due to the deep valley and till coverage on the Claim. The Search ll potassium radiometric survey shows good correlation with the Babine Plutonic Suite intrusions, potassium high anomalies appear to continue onto the Claim, though data appears to have been lost over most areas of the claim.
Figure 2: Regional Geology of the Claim area. The Claim is situated within similar rocks to the Nak and Duke Deposits.
Figure 3: Copper in Till, Lake and Stream sediments Collected during the Quest-West and NATMAP programs. Potential south – southeastern dispersion of anomalous copper below the Claim, similar to NAK and Duke Prospects.
Figure 4: Search ll AMAG RMI Vertical Derivative. There is high mag extending along a northwest orientation from Nak and Duke and other showings onto the Claim. Likely due to till coverage the mag signature is muted.
Figure 5: Search ll ARAD – K. High Potassium (K) coincides with mapped Babine Plutonic Suite (EBgd) plutons, which host porphyry deposits in the area. High K anomalies appear to continue onto Hi-View’s claim package.
The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
References
Ferbey, T., Levson, V.M. and Lett R.E(2009): Till Geochemical Exploration Targets, Babine Porphyry Copper Belt, Central British Columbia; British Columbia Geological Survey, Open File 2009-04, 34 pages.
Huntley, D.H., Levson, V.M. and Weary, G.F. (1996): Surficial geology and Quaternary stratigraphy of the Old Fort Mountain area (93M/1); British Columbia Ministry of Energy, Mines and Petroleum Resources, Open File 1669-9, 1:50,000-scale map.
Nelson, J., and Kyba, J., 2014. Structural and stratigraphic control of porphyry and related mineralization in the Treaty Glacier – KSM – Brucejack – Stewart trend of western Stikinia. In: Geological Fieldwork 2013, British Columbia Ministry of Energy and Mines, British Columbia Geological Survey Paper 2014-1, pp. 111-140.
Stumpf, A.J., Huntley, D.H., Broster, B.E. and Levson, V.M. (1996): Surficial geology and Quaternary stratigraphy of the Fulton Lake area (93L/16); British Columbia Ministry of Energy, Mines and Petroleum Resources, Open File 1669-10, 1:50,000-scale map.
Terms of the Agreement
The Company has acquired 100% interest in the Babine Copper-Gold claims directly through staking the claims, using an arm’s length consulting service at a total cost of $10,000.00 plus GST.
Additional Announcements
The Company has engaged Free Market Media Ltd. (“Free Market”) of Langley, BC, Canada, to provide Web services to the Company. Free Market will set up on-line advertising portals, on which Hi-View Resources will pay directly at-cost for the advertising. Free Market will be retained on a month-to-month basis and commence immediately (subject to Canadian Securities Exchange approval date) to assist the company in raising awareness. In consideration of the marketing services provided by Free Market, the company has agreed to pay advertising expenses up to $50,000 per month should the company deem this beneficial. To the Company’s knowledge Free Market’s principal owns no shares in Hi-View Resources. Free Market Media is owned by Brenton Rusin and has a PIF filed with the Canadian Securities Exchange for investor relations services.
About Hi-View
Hi-View is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA. The Company, through its subsidiary holds interests in the Golden Stranger Property and the Lawyers West, East, South projects, together with claims acquired directly through staking, all located in the Toodoggone region of northern BC, prospective for gold, silver, and copper. The collective holdings cover 9,140 hectares.
Contact:
Hi-View Resources Inc.
Howard Milne, CEO
Email: [email protected]
Telephone: (604) 377-8994
Website: www.hiviewresources.com
FORWARD LOOKING STATEMENTS:
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this news release includes statements related to the proposed Transaction and related matters. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/eff73951-2de9-4c2e-b798-45d95d6e2702
https://www.globenewswire.com/NewsRoom/AttachmentNg/e1a68af5-9f41-45c3-880c-7bc38a55bd4a
https://www.globenewswire.com/NewsRoom/AttachmentNg/c4f12b54-538f-437c-86e0-9e8c40e61e1e
https://www.globenewswire.com/NewsRoom/AttachmentNg/b461df65-ac04-49dc-8901-64907ef62c4c
https://www.globenewswire.com/NewsRoom/AttachmentNg/463460fe-0bcd-48d5-8216-bd300e32739e
Bay Street News
