Happy Creek Minerals Ltd (TSXV:HPY) (the “Company”), is providing an update on its 100% owned Rateria copper, Fox tungsten and Hen gold properties in B.C., Canada.
The Rateria copper property- Highland Valley district
The Company’s Zone 1 and 2 both have drilled dimensions of approximately one km in length, 50 to 150 metres in width and over 350 metres in depth and remain open, with drill grades comparable to that currently being mined in the district. In early September, an historical access trail dating from the mid 1950’s near the Sho prospect was cleared and evaluated. The host rock consists of Bethlehem and Chataway phases of the batholith cut by northwest and north trending mineralized shear, fault and fracture zones. Mineralized zones are exposed in five places within an area approximately 20-40 metres in width and 200 metres in length and open. Malachite and azurite copper oxide minerals with sulphides (predominantly bornite) occur within quartz-k-feldspar-muscovite-sericite veins and fracture fillings from 0.15 to 0.5 metres in width, and alteration extends into wall rocks for up to a few metres where dominantly chlorite-epidote and locally tourmaline are noted. The generally narrow mineralized structures appear to increase in size and become brecciated where northwest and north-south structures intersect. Grab samples collected of the mineralized material range from 0.06% copper up to 3.59% copper, 287 ppb gold and 11.9 g/t silver. The average of the 19 selected mineralized samples collected from all five exposures is 1.68% copper. On September 22, geological mapping on trend some 600 metres to the southeast of this area located an outcrop containing a 1 to 3-metre-wide series of bornite-rich copper veins and cross-cutting veinlets that are not recorded in any historical information. This new prospect is thought to be part of the mineralized structures further to the northwest which together is at least 800 metres of strike length. Based on geophysical surveys, this area is in proximity to a wide, mostly covered first order northwest trending structure that cuts the batholith through the Sho, Moss 4, Zone 1 and South Yubet prospects, a distance of at least seven km. The recent work completed around the Sho prospect contributes to the on-going geological vectoring toward new large-scale porphyry copper targets in a district hosting Canada’s largest porphyry copper mine.
Fox tungsten property
The Fox is located 75 km northeast of 100 Mile House, B.C. In late July, geological mapping was completed for three days at several tungsten-bearing calc-silicate layers that occur stratigraphically above that hosting the current resource of 582,400 tonnes (indicated) grading 0.826% WO3 and 565,000 tonnes (inferred) grading 1.231% WO3. Previous mapping in 2017 had located the presence of the two layers immediately above the Ridley Creek deposit but there was uncertainty as to their continuity. In 2018, the two layers were re-located and a third found and all three were traced continuously along strike in a north-south direction for more than 500 metres and connected to earlier mapping. Abundant sub-parallel intrusive sills of monzogranite-alaskite composition also occur and that is encouraging for the development of tungsten skarns. Each of the calc silicate layers is between 3 and 8 metres in thickness, although they can reach up to 20 metres in thickness locally. An Ultra Violet (UV) lamp survey indicated the presence of scheelite (tungsten mineral) and locally sphalerite (zinc sulphide) and molybdenite (molybdenum sulphide) occurs. Sixteen rock samples collected at widely separated locations returned from trace to 0.35% WO3.
Interpretation from this work combined with previous mapping confirms that the upper calc-silicate layers are continuous for approximately two kilometres along strike which is the same as the lower calc silicate layer that contains the resources. The outcrops of the upper layers are also some 500 metres west of the Ridley Creek zone and provide more confidence that the lower, resource-bearing layer continues that far to the west. Previous drilling of two drill holes that were directed beneath Deception mountain returned intervals of 19.4m of 0.93% WO3 and 26m of 1.19% WO3 that are therefore potentially open to the northwest for at least 500 metres. These upper layers have never been drilled and will be incorporated in future drilling plans that test the western extent of the Ridley Creek, BN and BK zones beneath Deception mountain.
By August 15th, a state of emergency was declared in B.C. due to forest fires and helicopters were not available for the Company to conduct further surface exploration during the normal working season. The Company has engaged C-3 Consulting to assist with the permitting steps to construct road access into the resource area which will aid in advancing this project towards development.
The Hen property
The Hen property is located approximately two kilometres west of the Fox property. Prospecting along a recently constructed logging road has resulted in the discovery of a new mineralized showing. The first and only grab sample collected from a recent roadcut returned 7.6 g/t gold, 2.08% lead, 4.02% zinc and 0.16% copper. The host rock is a sulphide-rich volcanic sediment near the base of the Nicola Group basalt conglomerate and top of the Lemieux Creek Formation. This style of mineralization has not been seen before on the property. In addition, two rock samples collected northeast of the Ledge prospect returned 2.13 g/t gold and 0.55 g/t gold. Further prospecting is continuing.
More detail on the Fox tungsten, Hen gold and Rateria copper properties can be found on the Company’s website at www.happycreekminerals.com . The Company is continuing to conduct low-cost, road accessible geological and various exploration work.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Blann, President, CEO,
James Berard, Corporate Development
Office: Phone: 604.662.8310
Investor Relations: Bircress Corporate Relations Inc.
Ron Birch: Phone: 250.545.0383
Toll Free: 1.800.910.7711
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
David Blann, P.Eng., Director, is a Qualified Person as defined by National Instrument 43-101 and is responsible for the preparation and approval of the technical information disclosed in the news release. Analyses are performed by SGS Laboratories in Burnaby, B.C. using a geochemical aqua regia digest of a 2.0 gram pulp and ICP-MS finish, and results for copper, silver and molybdenum are provided in ppm (parts per million (ppm) or grams per tonne, and gold in parts per billion (ppb)). Samples greater than 5,000 ppm copper, lead or zinc are re-run utilizing ICP-AES providing values in percent (%), and over 500 ppb gold are re-done using 30-gram Fire Assay with ICP-MS finish. Tungsten analyses is performed using a peroxide fusion digestion and G0_XRF-76V, and values of W are converted to W03 by multiplying by 1.261.
This press release contains “forward-looking information” within the meaning of applicable securities laws, including statements that address capital costs, recovery, grade, and timing of work or plans at the Company’s mineral projects. Forward-looking information may be, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “planned”, “continue”, “expect”, “thought to”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “opportunity”, “further” and others, or which describes a goal or action, event or result such as “may”, “should”, “could”, “would”, “might” or “will” be undertaken, occur or achieved. Statements also include those that address future mineral production, reserve potential, potential size or scale of a mineralized zone, potential expansion of mineralization, potential type(s) of mining, potential grades as well as to Happy creek’s ability to fund ongoing expenditure, or assumptions about future metal or mineral prices, currency exchange rates, metallurgical recoveries and grades, favourable operating conditions, access, political stability, obtaining or renewal of existing or required mineral titles, licenses and permits, labour stability, market conditions, availability of equipment, accuracy of any mineral resources, anticipated costs and expenditures. Assumptions may be based on factors and events that are not within the control of Happy creek and there is no assurance they will prove to be correct. Such forward-looking information involves known and unknown risks, which may cause the actual results to materially differ, and/or any future results expressed or implied by such forward-looking information. Additional information on risks and uncertainties can be found within Financial Statements, Prospectus and other materials found on the Company’s SEDAR profile at www.sedar.com. Although Happy creek has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Happy creek withholds any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by law.