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| | Mon Jan 4, 2010
Happy Creek drills 48 metres of 0.30% copper, Highland Valley Area, B.C.
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| | January 4, 2010 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSX-V: HPY, or the "Company") is pleased to announce that further to the press release dated November 12, 2009, it has received final results from its 2009 drill program on the 100% owned Rateria property. The Rateria property adjoins Teck Resources Ltd.'s Highland Valley Copper property in south central British Columbia, and is approximately 10 kilometres southeast of the mine concentrator. The Highland Valley Copper mine is Canada's largest copper producer and is currently mining material grading approximately 0.32 percent copper.
Zone 2
Three drill holes in Zone 2 were successful in confirming continuity and expanding its length to over 450 metres. Drill hole R09-07 returned 48.0 metres containing 0.30 percent copper and 0.07 g/t (grams per tonne) gold. R09-06 results include 18.5 metres grading 0.20 percent copper and 0.048 percent molybdenum. This interval is notable for its relatively higher molybdenum grade that is similar to the Highmont deposits currently in production approximately 6.5 kilometres to the northwest. Overall, drilling results from 2008 and 2009 suggest Zone 2 contains wide near-surface low grade copper with significant intervals of potentially economic grade. Intervals between 3.0 and 27.0 metres contain greater than one percent copper over the 450 metres along with positive molybdenum, silver and gold values. Drilling, geological and geophysical information suggest Zone 2 can be expanded well beyond the area drilled to date.
Summary of Results for Zone 2
Hole |
Total Depth
(m) |
From
(m) |
To
(m) |
Interval
(m) |
Cu
% |
Mo
% |
Ag
(g/t) |
Au
(g/t) |
R09-01 |
209.4 |
11.3 |
209.4 |
198.1 |
0.05 |
|
|
|
includes |
|
111.8 |
114.8 |
3.0 |
1.29 |
0.013 |
8.0 |
0.04 |
|
|
|
|
|
|
|
|
|
R09-06 |
252.1 |
75.3 |
167.7 |
92.4 |
0.12 |
0.011 |
|
0.03 |
includes |
|
75.3 |
76.8 |
1.5 |
1.93 |
0.014 |
9.0 |
0.53 |
includes |
|
149.2 |
167.7 |
18.5 |
0.20 |
0.048 |
|
0.05 |
|
|
|
|
|
|
|
|
|
R09-07 |
200.3 |
99.0 |
147.0 |
48.0 |
0.30 |
0.002 |
|
0.07 |
includes |
|
131.5 |
134.5 |
3.0 |
1.24 |
0.010 |
6.0 |
0.07 |
|
|
|
|
|
|
|
|
|
R08-01* |
374.0 |
168.0 |
321.0 |
153.0 |
0.24 |
|
|
|
includes |
|
175.0 |
288.0 |
113.0 |
0.33 |
0.002 |
1.5 |
0.05 |
|
|
|
|
|
|
|
|
|
R08-01* |
|
|
|
|
|
|
|
|
includes |
|
231.5 |
249.0 |
17.5 |
1.12 |
0.005 |
5.5 |
0.02 |
|
|
|
|
|
|
|
|
|
R08-05* |
313.0 |
38.0 |
215.0 |
177.0 |
0.37 |
|
|
|
includes |
|
95.0 |
122.0 |
27.0 |
1.05 |
0.019 |
5.0 |
0.24 |
The 2008* and 2009 drilling has tested the near-surface portion of Zone 2 at 100 to 150 metre spacing with five holes angled from -60 to -70 degrees to the west. Drilling suggests Zone 2 trends north-south and is comprised of cross cutting veins and veinlets containing dominantly bornite, chalcocite, minor chalcopyrite (copper sulphides) and molybdenite (molybdenum sulphide). At a depth below surface of approximately 200 metres, R08-01 includes 17.5 metres of 1.12 per cent copper that is the deepest interval in the zone. Significant depth and length potential of Zone 2 is thought to be reflected in a major geological contact of the Guichon Batholith and a regional scale fault structure (the "corridor") that extends for over five kilometres.
During 2008, two drill holes within the corridor and up to 600 metres to the southwest of Zone 2, returned 114.0 metres grading 0.09 per cent copper and 334 metres grading 0.07 per cent copper. These areas remain very prospective and under explored. To the northeast and southwest of these holes, widely spaced drill holes R09-02 to R09-05 and R09-9 returned weak to strong fracturing and variable propylitic, phyllic to intense k-feldspar (potassic) alteration with trace copper and molybdenum mineralization. Isolated intervals of 2.0 to 3.0 metres returned 0.16 to 0.37 percent copper. The frequency and intensity of fracturing, alteration and presence of copper mineralization in the drill core suggest the corridor is an important regional scale structure and similar to the Lornex fault- a feature of the Lornex and Valley copper deposits. Results to date from within the corridor have provided a significant amount of geological information to guide future drilling and large areas of the corridor remain underexplored.
Approximately two kilometres to the east of Zone 2, drillhole R09-8 returned 5.0 metres containing 0.11 percent copper near the top of the hole and trace copper values to the end of the hole at 203 metres depth. Mineralization includes bornite with sericite and kaolinite alteration at the top of the hole followed by native copper within weak pervasive quartz sericite alteration. This High Resistivity target is approximately 1.2 kilometres by 1.6 kilometres in dimension and approximately 95 percent covered by glacial till. Results of this hole are thought to be encouraging for the first test of a new, large scale target.
No drilling was performed in Zone 1 that is located approximately two kilometres west-southwest of Zone 2 and is within rocks of the Skeena and Bethsaida phase of the Guichon Batholith. Previous drilling results from Zone 1 include 100.0 metres grading 0.29 per cent copper and 84.0 metres of 0.30 per cent copper. Local high grade zones include 5.4 metres grading 2.45 per cent copper, 13.0 g/t silver and 1.5 metres containing 3.88 percent copper, 124.0 g/t silver. Several holes ended in copper mineralization and this zone also remains undefined and open in extent.
Happy Creek has assembled a 100 percent interest in over 140 square kilometres of mineral claims that adjoin the property of Canada's largest copper producer. The property is largely covered by glacial till from approximately three to over 30 metres in thickness that affected historical exploration. The Company has discovered two new zones containing significant copper and associated molybdenum, silver and gold values that are thought to have resource potential. Using modern technology, recently improved access, a significant database and experience with the property, the Company has also identified several other prospective targets that remain untested. The Rateria property is permitted for up to 26 drill holes during 2010 and further drilling is planned.
Happy Creek's 100% owned West Valley property adjoins Teck's Highland Valley copper mine property on its western side, and results from a three dimensional induced polarization and magnetic geophysical survey and geological mapping are expected shortly.
The Company also wishes to announce that, subject to TSX Exchange approval, an additional 200,000 Options have been granted to Strike Communications Inc. ("Strike") at a price of $0.17 for a period of five years and the terms of an Agreement between Strike and Happy Creek, announced November 13 2009, has been extended to December 31, 2010.
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. Analytical results are provided by Acme Analytical Laboratories of Vancouver, B.C. Copper, molybdenum and silver values are by Acme's Group 7R base metal assay, and gold results are by 30 gm fire assay. Quality control procedures include use of duplicates, blanks, certified standards as well as Acme's internal controls using standards, reject and pulp repeats.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office:
Phone: 604.662.8310
Email: dblann@happycreekminerals.com
Website: www.happycreekminerals.com
Investor Relations:
James Berard and Aaron Konkin
Phone: 604-687-2767
Toll free: 1-877-459-5507
Neither 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. This News Release may contain statements that are forward looking and subject to risk and uncertainty more fully described in the Company's Prospectus, Financial Statements and Public Filings located on SEDAR. |
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| | You can view the Next News Releases item: Wed Jan 13, 2010, Happy Creek expands positive gold and silver anomaly at the Golden Ledge Property, B.C.
You can view the Previous News Releases item: Mon Dec 7, 2009, Happy Creek acquires property adjoining Thunder Ridge gold discovery, B.C.
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