Happy Creek Begins Exploration on the Rateria-West Valley Copper Property
May 21, 2020 – Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”), is pleased to announce that the first phase of field exploration is underway on its 100% owned, 244 square km Rateria and West Valley property. The property surrounds the southeast and southwest side of the Highland Valley Copper mine property, Canada’s largest copper producer, in south central B.C.
As part of Phase 1, Happy Creek has engaged HEG Exploration Services Inc. (HEG) to conduct geological and geochemical studies. HEG’s work will utilize a portable X-ray fluorescence spectrometer (XRF) and a TerraSpec Halo mineral analyzer to study the mineralogy and alteration of the porphyry copper-molybdenum prospects on the Rateria-West Valley property. There is ample scientific and practical evidence to suggest using these tools can be of great benefit to vector towards porphyry copper centers, with Highland Valley copper systems being published examples. Happy Creek is pleased to adopt the latest exploration tools that have demonstrated success in these geological environments.
David Blann, president, CEO of Happy Creek Minerals states: “Utilizing data provided by the XRF and TerraSpec, along with more detailed geology and geochemistry will assist in Phase 2, directing drill hole placements to unlock the full potential of both Rateria Zones 1 and 2. In addition, we will conduct detailed geological work at the PIM, Sho and other copper prospects on the property in preparation for our first drill test of these new targets.”
Permitting and Heath and Safety
Happy Creek is pleased to report that the Company has received a five-year renewal of its exploration permit from the Ministry of Energy and Mines. This permit allows physical work on the property including induced polarization geophysical surveys, drilling, trenching and construction of access trails through 2025. Prior to drilling, the company will complete archaeological studies. Communications and meetings with local First Nations communities are ongoing. Happy Creek is committed to developing positive and mutually beneficial relationships based on respect and transparency with local First Nations and communities in the areas in which we operate.
With respect to Covid-19, the health and safety of workers and the residents of nearby communities is of utmost importance to Happy Creek. The Company has established a detailed corporate policy on Covid-19 and will be following all Worksafe BC and Ministry of Energy and Mines guidelines and direction.
About the Rateria and West Valley property
The Rateria and West Valley mineral properties total approximately 244 square kilometres that adjoin and surround the southern side of the Highland Valley Copper mine property, Canada’s largest base metal mine. The property is predominantly underlain by the Guichon batholith which hosts four porphyry copper deposits with commercial production continuing for over 50 years.
Happy Creek has discovered and partially outlined with 28,000 metres of drilling, Zone 1 and 2, which contain drill grades consistent with currently mined deposits in the district. These are thought to have near-term potential for resource definition and are located approximately 6.5 km southeast of the Highmont open pits.
Zone 1 and Zone 2 contain drill intercepts including 95 metres of 0.67% copper and 152.5 metres of 0.35% copper, respectively. At Zone 1, positive copper values occur in widely-spaced drill holes in an area of approximately 1 sq km. Zone 2 also contains notable rhenium in molybdenite and positive gold including 46 metres of 0.64% copper, 0.30 g/t gold, 1.16 g/t rhenium. Rhenium is a rare metal used in high strength, high temperature steel. In 2017, a 150 metre step out hole to the east of zone 2 returned 5.0 metres of 4.41% copper, 0.03% molybdenum and 6.86 g/t rhenium that is open.
In addition, the Company has recently identified several other areas of the property with potential for new copper discoveries that are untested by drilling. The Company considers the Rateria-West Valley property to be a quality, under-explored copper exploration asset within a world class, highly productive copper district.
More information on the Rateria and West Valley copper properties can be found 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,
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. Results or information from an adjoining property does not infer that similar results or information will or does occur on the subject property.
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”, “foresee”, “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.
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