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| | Fri Feb 19, 2010
Happy Creek drill core assays 38.2 metres of 2.14 g/t Rhenium in Highland Valley
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| | February 19, 2010 -- Vancouver, British Columbia -- Happy Creek Minerals Ltd. (TSX-V: HPY, or the "Company") is pleased to announce that further to the news release dated February 2, 2010, final (1)rhenium assay results have been received for another portion of its drill holes from the Rateria property.
With additional results received from R09-06 in Zone 2, one interval returned 38.2 metres of 2.14 g/t (grams per tonne) rhenium, including a high grade interval of 1.5 metres grading 19.37 g/t rhenium, 0.27% copper and 0.239% molybdenum. R08-01 returned 12.0 metres grading 2.85 g/t rhenium, 1.38% copper, 0.010% molybdenum and 7.1 g/t silver.
Rhenium (Re) is a metal primarily used in making high temperature super-alloys and catalysts. Rhenium prices are currently around (2) US$6,250.00 per kilogram ($6.25 per gram), and have recently ranged up to US$12,000.00 per kilogram over the past few years.
David Blann, President of Happy Creek Minerals Ltd. states "We are encouraged by the significant rhenium results received to date. Rhenium also occurs at Teck's Highmont deposits. Not only does rhenium increase the potential value of what we have, it also strengthens the Highmont deposit analogy that is currently in production 6.5 kilometres to the northwest. We look forward to further exploration of Zone 1 and 2, and several untested and prospective, large scale targets that may also be similar to Highmont."
Drill Results with a focus on Rhenium values
| |
From |
To |
Interval |
Rhenium |
Copper |
Moly |
Silver |
| |
(metres) |
(metres) |
(metres) |
(g/t) |
% |
(Mo) % |
(g/t) |
| R08-01 |
169.8 |
273.0 |
103.3 |
0.46 |
0.34 |
0.002 |
|
| including |
219.5 |
231.5 |
12.0 |
2.85 |
1.38 |
0.010 |
7.1 |
| and |
246.0 |
249.0 |
3.0 |
3.21 |
0.25 |
0.018 |
|
| |
|
|
|
|
|
|
|
| R09-01 |
111.8 |
114.8 |
3.0 |
0.47 |
1.29 |
0.013 |
8.0 |
| |
|
|
|
|
|
|
|
| R09-06 |
75.3 |
185.7 |
110.4 |
0.77 |
0.10 |
0.010 |
|
| including |
147.5 |
185.7 |
38.2 |
2.14 |
0.11 |
0.029 |
|
| including |
164.7 |
166.2 |
1.5 |
19.37 |
0.27 |
0.239 |
|
| |
|
|
|
|
|
|
|
| R09-07 |
99.0 |
147.0 |
48.0 |
0.26 |
0.30 |
0.002 |
|
| including |
131.5 |
137.5 |
6.0 |
0.96 |
0.78 |
0.009 |
3.5 |
| |
189.5 |
191.8 |
2.3 |
2.26 |
0.28 |
0.018 |
|
The Company has re-analyzed four drill holes from Zone 2 to determine the nature, distribution and concentration of rhenium. Rhenium results are pending re-sampling of core for R08-05 in Zone 2 that returned 177 metres grading 0.37% copper, including 27.0 metres grading 1.05% copper, 0.019% molybdenum, 5.0 g/t silver and 0.24 g/t gold, and core from Zone 1 that includes 100.0 metres grading 0.285% copper, 37.0 metres grading 0.579% copper and 189.3 metres grading 0.22% copper.
Happy Creek's 100 percent owned Highland Valley project is comprised of the West Valley and Rateria property totaling over 140 square kilometres in area. These properties adjoin the west and east side, respectively, of Teck Resources Ltd.'s Highland Valley Copper mine property, Canada's largest copper producer. The Highland Valley Copper mine is currently mining material averaging approximately 0.32% copper. On the Rateria property, the Company has discovered by drilling two new zones containing potentially economic copper grades that remain undefined and open in extent, and identified several quality exploration targets that remain untested by drilling.
Exploration on the Rateria property during 2010 is planned to include drilling to define Zone 1 and 2 and, in light of the current results, test several other new and large scale targets.
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.
1 Rhenium and molybdenum assays were performed at AGAT laboratories of Mississauga, Ontario using a four acid digestion and dual-pass ICP-MS with rhenium results provided in (g/t).
2 WWW .minormetals.com
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: Mon Mar 29, 2010, Happy Creek provides exploration plans for 2010
You can view the Previous News Releases item: Tue Feb 2, 2010, Happy Creek drills up to 17.7 g/t rhenium in Highland Valley, B.C.
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