Happy Creek to Conduct Geophysical Surveys on New Showings at Rateria-West Valley Copper Property, British Columbia
October 7, 2019 - TheNewswire - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSXV:HPY) (the "Company"), is pleased to provide an update on exploration work on its 100% owned mineral Rateria and West Valley properties located in the Highland Valley mining district of south-central British Columbia, Canada.
The Company has identified two new areas of promising porphyry copper mineralization on recently constructed logging roads in the Pimainus and Abbott areas of the West Valley property (see page 14 of the Rateria-West Valley presentation on the Company's website). The new targets occur in areas of glacial till cover with rare outcrops of prospective, younger, central core phases of the Guichon Creek batholith, which host very large porphyry copper-molybdenum deposits in the district including the Valley, Lornex, Bethlehem and Highmont mines (Guichon, Bethsaida, Chataway and Bethlehem phases). The Pimainus and Abbott targets are also proximal to the Lornex fault, a major north-south structure associated with the giant Lornex and Valley copper deposits to the north. A follow-up program of prospecting, sampling, geological mapping and induced polarization (IP) geophysical surveying is now underway with the goal of defining new drill targets.
In the Pimainus area of the northern part of the West Valley property, logging roads have exposed outcrops of Bethsaida phase cut by dikes of aplite and varieties of biotite-feldspar-quartz porphyry. Two new copper showings are approximately 350 metres north of an historical copper occurrence and within an historic copper in soil anomaly approximately 800m long and up to 300m wide. This area occurs within a prominent airborne survey magnetic low signature, which may be indicative of porphyry-related alteration within felsic phases of the batholith. The two new copper zones are approximately 100 metres apart and consist of strongly fractured Bethsaida phase with sericite, muscovite and quartz veins containing specular hematite, malachite-azurite and other copper oxide copper minerals, as well as bornite and chalcopyrite. Initial grab samples collected across the two zones returned 5m of 0.41% copper and 10m of 0.29% copper with trace molybdenum that are open. Samples containing chalcopyrite and bornite were also found in outcrop up to 150 metres further southwest and 200m east. The geology appears similar to some of the known deposits in the district and warrants follow-up with more detailed geology and 12 kilometres of Induced Polarization (IP) geophysical survey is planned.
In the Abbott area of the southern part of the West Valley property, the Lornex fault is interpreted to occur beneath glacial till between two copper prospect areas. Approximately one km east of the Lornex fault, recent logging roads have exposed the prospective Guichon phase granodiorite cut by dikes of aplite and fine-grained feldspar porphyry. Fracture-controlled chlorite, epidote, k-feldspar and sericite alteration is widespread. In addition to others previously sampled in 2018, a number of additional quartz veins containing bornite were observed in road cuts over a distance of approximately one km. Two selected grab samples returned 0.21% copper and 0.51% copper. Two kilometres to the west and on the other side of the Lornex fault, historical trenches contain mainly chalcopyrite-bornite copper minerals. No previous induced polarization geophysical surveys or drilling is known to have been performed in the Abbott area. Additional sampling, mapping and 16.6 kilometres of IP is planned.
On the Rateria property, the historical Roscoe adit was located in the field. Geological investigation shows that this prospect consists of a northwesterly trending fault and shear zone near the contact between Bethlehem and Chataway phase intrusive of the Guichon Batholith. Historical workings in the area are in part obscured by caving, however two selected dump grab samples of k-feldspar-sericite-quartz altered granodiorite with abundant malachite/azurite returned 2.74% copper, 232 ppb gold and 11.45 g/t silver, and 5.63% copper, 346 ppb gold and 21.87 g/t silver, respectively. This area is underlain by a sizeable and positive geophysical response and is interpreted to be structurally connected with the Company's Zone 2 prospect, 1.5 km to the northwest.
The Company will provide results of the ongoing work when it becomes available later this fall.
More detail on the Rateria-West Valley 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.
President, CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Blann, President, CEO,
Office: Phone: 604.662.8310
Email: dblann@happycreekminerals.com
Website: www.happycreekminerals.com
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. Results or information from an adjoining property does not infer that similar results or information will or does occur on the subject property. 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, molybdenum and rhenium are provided in ppm (parts per million (ppm) or grams per tonne, and gold in parts per billion (ppb)), with ppm values converted to percent by dividing by 10,000, and ppb values converted to g/t by dividing by 1,000. Over-limit samples greater than 5,000 ppm copper are re-run utilizing ICP-AES providing values in percent (%) copper, and over 500 ppb gold are re-done using 30 gram Fire Assay with ICP-MS finish.
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.
Copyright (c) 2019 TheNewswire - All rights reserved.