Happy Creek Completes Exploration for 2011
(via Thenewswire.ca)
December 21, 2011 - Vancouver, British Columbia - Happy Creek Minerals
Ltd. (TSX-V:HPY, the “Company“) announces that 2011 field
exploration is complete.
Between February 18th and December 15th, 2011, continuous field
exploration by the Company has produced positive results and achieved
encouraging milestones. Additional results from seven properties are
pending. The Company owns a 100% interest in seven mineral properties
located in south central British Columbia (B.C.), Canada. These
properties adjoin or are in proximity to mines and excellent
resource-based infrastructure and total approximately 541 square
kilometres in area.
Company Highlights for 2011
-At the Rateria property in Highland Valley drilling intersects
additional positive copper grades in Zone 1 that extend continuous
mineralization for a kilometre in length and locates a third new
mineralized zone.
-The first ever drilling at the Ridley Creek zone on the Fox property
intersects high tungsten grades near surface that confirm and expand
previous strong trench results.
-The Company options one of its properties to Newmont Mining Corp. who
now adjoin the Silverboss property.
-The Company added two experienced professionals to its Technical
Advisory Board.
-In November and December, 2011, the Company completed approximately
$2.9 million in financing.
Rateria Property
Important results were returned from the Rateria copper property that
adjoins the property of Teck's Highland Valley Copper mine. The
Highland Valley mine is Canada's largest copper producer, currently
mining material with an average grade of around 0.26% copper. On the
Rateria property, Zone 1 and 2 are copper zones discovered by the
Company and located approximately 6.5 kilometres south southeast of
Teck's currently producing Highmont open pits.
Highlights of 2011 drilling within Zone 1 include 95.0 metres of 0.67%
copper, 3.62 g/t silver, 100.0 metres of 0.35% copper, 2.2 g/t silver,
250.0 metres of 0.25% copper, and 102.5 metres of 0.43% copper, 2.9
g/t silver. Step out drilling further south has returned 50.0 metres
of 0.39% copper and 82.5 metres of 0.26% copper beneath and beyond
previous shallow holes. Encouraging copper values beneath previous
shallow holes is thought to reflect positively on the ultimate size of
Zone 1 and the exploration potential of the property. Since discovery
in 2006, approximately 30 drill holes in Zone 1 have defined
continuous mineralization for one kilometre in length, up to 150
metres in width and 400 metres in depth. Zone 1 remains open in extent
in several directions.
During 2011, 40 drill holes totaling approximately 12,800 metres were
completed on the property, with about half focused within or nearby
Zone 1. Drilling also tested beyond Zone 1 and identified encouraging
geology with samples containing up to 2.5 metres of 3.45% copper, 33.6
g/t silver that is thought to be the extension of Teck's adjacent
Yubet prospect. Several other holes were completed around Zone 2.
Previous drill highlights from Zone 2 include 126.0 metres of 0.46%
copper, 0.008% molybdenum and 0.10 g/t gold and 113.0 metres of 0.33%
copper and 0.05 g/t gold. Other results from Zone 2 include 6.4 metres
of 1.65% copper, 0.017% molybdenum, 0.03 g/t gold, 9.4 g/t silver and
5.2 g/t rhenium, and 38.2 metres of 0.11% copper, 0.029% molybdenum
0.03 g/t gold and 2.14 g/t rhenium. Rhenium, with prices ranging from
$4,500 to $9,000/kg, is a rare metal that occurs with molybdenum and
is used in manufacturing high strength steel. From an exploration
perspective, rhenium may indicate the presence of a porphyry copper
system.
Other work completed on the Rateria property in 2011 included seven
square kilometres of three dimensional induced polarization (3D IP)
and magnetic geophysical surveys to the south of Zone 1. These surveys
identified multiple new targets within a very favorable geological
area that remain untested by drilling. Detailed geological work,
deposit modeling of Zone 1, compilation, target ranking of untested
prospects and 2012 drilling plans are underway. Additional drilling
results from 2011 are pending.
Cariboo Properties
During 2011, the Company performed prospecting, soil, stream sediment
and rock sampling on its Silverboss, Hen, Art-DL, Hawk, and Fox
properties, located northeast of 100 Mile House, B.C. Drilling was
performed on the Fox property.
Fox Property
The 122 square kilometre Fox tungsten-molybdeum property returned
strong results from the first ever drilling in the Ridley Creek area.
Tungsten prices are currently around $40.00/kg W03 (tungsten
trioxide), and 1.0% W03 equates to 10.0 kg W03 per tonne of rock.
Results from drilling include: 1.8 metres of 1.29% W03, 2.2 metres of
2.21 % W03, 4.7 metres of 1.02% W03 and 12.4 metres of 0.74% W03.
These drill hole intersections include high grade intervals of 0.5
metres of 8.45% W03, 0.4 metres of 9.60% W03, and 0.65 metres of 8.15%
W03. In addition, positive values up to 3.64% zinc, 19.2 g/t indium,
0.16 g/t gold, and 3.2 g/t silver occur within these higher grade
intervals. Indium is a rare metal used in electronic components.
Preliminary interpretation indicates the tungsten zones occur at or
close to surface and are near horizontal in orientation. The area of
initial drilling in 2011 represents approximately 10% of the greater
than 2 kilometres of positive geology, soil and rock samples in the
Ridley Creek area.
Prospecting on the Fox property has continued to locate additional
mineralized zones at surface. A grab sample from a one metre wide
showing located approximately two kilometres to the south of the
drilling returned 3.0 per cent WO3, 0.70 per cent zinc, 6.81 g/t
indium, 0.05 g/t gold and 1.41 g/t silver.
High tungsten grades in surface and drill core samples occur with 5 to
10% sulphides (pyrite, pyrrhotite). The 3D IP geophysical survey was
designed to detect materials such as sulphides in rock below surface.
Upon receiving the high grade drill results in late October, the
Company performed a 3D IP geophysical survey covering the area drilled
at the Ridley Creek prospect. Results from two drill holes, additional
prospecting and the geophysical survey are pending.
The Fox property contains a large tungsten-molybdenum system
approximately 10 by 3 kilometres in dimension. The positive drilling
results obtained during 2011 have confirmed the high grade surface
tungsten mineralization continues and remains open in extent. This is
an important milestone for the Company on the Fox property.
Silverboss
The 155 square kilometre Silverboss property adjoins and surrounds the
former Boss Mountain molybdenum mine, currently owned by Xstrata Plc.
The Boss Mountain molybdenum mine was a relatively large producer with
grades averaging around 0.20% molybdenum. Exploration by Happy Creek
has identified large scale and positive copper and molybdenum values
in soil and rock samples that extend outward from the known deposits
and well onto the Silverboss property. The Horse Trail zone has
returned numerous rock samples ranging from 0.10 to 1.69% copper,
0.108 to 0.637% molybdenum and 1.03 to 10.0 g/t gold. The Dogtooth and
East Breccia zones have returned values of 0.30 to 5.0 g/t gold and up
to 53.01 g/t gold, 343.0 g/t silver in grab samples and 9.29 g/t gold,
27.3 g/t silver over 1.17 metres in width. These veins are located
within a positive gold in soil geochemical anomaly that is
approximately 1.6 by 1.2 kilometres in dimension. The historical
Silverboss shaft zone consists of a shear and quartz vein system, 1.0
to 3.0 metres in width that has been traced on surface for 350 metres.
Rock sampling of this zone has returned values of 9.25 g/t gold, 514.8
g/t silver over 0.25 metres and 2.52 percent copper, 6.21 g/t gold,
295 g/t silver and 6.76 g/t indium in grab samples. Further north, the
Company has also identified a second area where positive copper values
occur in soil covering an area approximately 2 kilometres by 1
kilometre in dimension.
On March 25th, 2011, the Company announced that a recent Letter of
Intent agreement between Xstrata and a South Korean controlled mining
company (NMC Resource Corp) suggests that the former Boss Mountain
molybdenum mine will see further exploration and development with a
view to confirming and expanding the existing resource. Happy Creek's
Silverboss property comes within 350 metres of an existing open pit.
On July 20th, 2011, the Company announced that Newmont Mining Corp.
has optioned the Company's Eye mineral claim, and through additional
acquisitions, Newmont is now a neighbour to the Company's Silverboss
property. The geological potential of this general area is reflected
by active exploration performed by several private, junior and senior
mining companies including Gold Fields, Newmont and NMC Resource Corp.
The Company has completed additional soil geochemical sampling and
prospecting beyond previous surveys on the Silverboss property and
results are pending.
Other Cariboo Properties
Also during 2011, the Company performed systematic soil geochemical
surveys as well as general prospecting and rock sampling on the Hen,
Art-DL property and Hawk properties. Results from these surveys are
pending.
Happy Creek Minerals is financed to continue exploration during 2012.
The Highland Valley properties (copper) and the Fox (tungsten) contain
new drilling discoveries with potential to create value for
shareholders. The Company is pleased with the results obtained to date
during 2011, and is looking forward to continued progress during 2012.
On behalf of the Board of Directors,
“David E Blann“
____________________
David E Blann, P.Eng.
President
David Blann, P.Eng. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Corporate Office:
Phone: 604.662.8310
Email: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Investor Relations:
James Berard
Phone: 604-687-2768
Toll free: 1-877-459-5507
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