Happy Creek Minerals Ltd (TSXV:HPY) (the “Company”), is providing results of further work completed in the late fall of 2018 on its 100% owned Fox tungsten property in south central B.C., Canada.
The Company has advanced the Fox property from an early stage. As announced February 27, 2018, the project hosts a calc-silicate/skarn resource of 582,400 tonnes of 0.826% WO3 (indicated) and 565,400 tonnes of 1.231% WO3 (Inferred), that is among the highest grade in the western world, with a portion hosted within an open pit. Numerous other tungsten showings with high grade tungsten at surface or above cut-off grade in drill holes occur and all zones are open.
During the fall of 2018, Happy Creek conducted reconnaissance prospecting on the west and south side of the Fox property where recently constructed logging roads provide access to areas not previously explored. Rock grab samples from the southern side of the property returned positive silver values in quartz veins, and from the west side of the property stream sediment samples returned positive tungsten values.
2018 Fox South Rock Sample Summary Table
|Sample||Ag g/t||Pb %|
Located approximately 4 km southeast of the South Grid tungsten prospect, these samples are from the first look at a new area where quartz veins with galena (lead sulphide) cut monzogranite, alaskite intrusive and Snowshoe Formation metasediment. Trace elements include geochemical values of up to 81 ppm tellurium and greater than 2,000 ppm bismuth. Calc silicate, the host to tungsten skarn on the property was found nearby before snow made roads impassible.
Further to the news release dated November 21, 2018, stream sediment sampling at low elevations on the west side of Deception mountain have returned positive tungsten. Three samples returned 15 ppm W, and one sample contains 14 ppm that together covers four drainages over approximately 2 km along the base of the mountain. For reference, the creeks draining the current resource areas returned similar values.
David Blann, P.Eng., President of Happy Creek states: “The Fox continues to generate new showings and become more exciting as we appreciate the potential for the current tungsten resource host rock layers to extend 5 km through Deception Mountain onto the western side. In addition, we have previously found elevated silver values in proximity to our current high-grade tungsten deposits, so the new silver-bearing samples and nearby calc silicate are thought to be related to the South Grid tungsten zone over 4 km to the northwest.”
Exploration conducted during 2018 has expanded the Fox mineral system to 12 km by 5 km in dimension which has increased the potential for further tungsten resource expansion. The Company is preparing to conduct surface exploration, drilling, engineering and environmental studies and has received estimates for conducting a preliminary economic assessment.
More detail on the Fox tungsten property can be found on the Company’s website at www.happycreekminerals.com.
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 Communications
Office: Phone: 604.662.8310
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. Preparation and analyses of rock and stream sediment samples were completed at SGS Laboratories in Burnaby, B.C. using a GE_ARM133 ICP multi-element package with aqua regia digestion which is only partial for tungsten. Over-limit silver and base metals were re-analysed using fire assay FAA 303 and XRF 77B method, respectively.
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.