Happy Creek Completes 2012 Exploration12-23
December 27, 2012 — Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the “Company”) announces that 2012 field exploration is complete and results from several projects are pending. The Company owns a 100% interest in nine mineral properties located in south central British Columbia (B.C.), Canada and exploration on several properties has returned new and significant discoveries.
Fox Tungsten Property
The Fox is a new, “greenfield” tungsten discovery. During 2012, the Company completed 29 holes totaling 2,600 metres in the Ridley Creek area (refer to news releases dated September 18, October 3, October 17, November 1, November 14, and November 19, 2012). Tungsten prices are around $30.0/kg W03, and economic tungsten mines generally grade from 0.24% W03 to 0.5% W03, with few up to around 1.0% W03. Most are underground operations. At the RC prospect, shallow depth drilling has outlined a near surface zone that contains positive tungsten grades. F12-27 is located at the BN prospect approximately one kilometre south of the RC prospect and has three positive intervals thought to be one of the most significant new tungsten results globally.
Fox Tungsten Property 2012 drilling Highlights
The BK prospect is located one kilometre to the north of the RC prospect, and F12-20 returned five metres of 0.68% W03. To date, drilling in three areas over a distance of two kilometres has returned positive tungsten grades within conceptual surface mining parameters that remain open in extent. There is also positive zinc, indium, gold and silver values. Mineralogy and metallurgical work on a large sample is underway and results are pending.
The Rateria Copper Property, Highland Valley area
The Rateria property adjoins Canada’s largest copper producer, Teck’s Highland Valley mine property. On June 11, 2012 the Company announced additional drill results from Zone 2, located approximately 6.5 kilometres south of a producing pit. R11-36 returned 152.5 metres grading 0.26 per cent copper and 0.67 g/t rhenium starting at 70 metres. This includes 42.5 metres of 0.37 per cent copper, 0.17 g/t gold, 0.025 per cent molybdenum, 1.82 g/t rhenium and 1.87 g/t silver. Zone 2 continues to generate encouraging values of copper, molybdenum, rhenium and gold, and is the second new discovery on the Rateria property. In late November 2012, two holes were drilled in Zone 2 and metallurgical/mineralogy work was performed on a large composite sample from Zone 1. Results are pending.
Hawk Copper-Gold Property
During 2012, the Company completed twelve relatively short machine trenches or test pits. Results of grab and chip samples announced October 11, 2012 include:
The Hawk represents an under explored alkalic type copper-gold system within the Quesnel Trough, a highly prospective regional geological belt containing several mines and large deposits in B.C. The property has positive values in surface samples in an area approximately 3.5 kilometres by 1.5 kilometres in dimension and several targets are ready for drill testing.
The Company received its first year payment for one of its properties optioned to Newmont Mining Corp. located near the Company’s Silverboss property. The Company also completed a three dimensional induced polarization survey on the Silverboss property (copper, molybdenum, gold, silver), that adjoins the former Boss Mountain molybdenum mine. Results are pending.
The Company completed prospecting, an airborne magnetic and spectral survey, and a LIDAR survey on the West Valley (copper) and Silver Dollar (gold, silver, lead, zinc) properties. Results are pending.
The Rateria (copper) and the Fox (tungsten) are new discoveries that are located in proximity to existing mines and infrastructure. The Company has advanced these properties with drilling to the point where clear resource potential is outlined. The Company is pleased with the results obtained during 2012, and is looking forward to continuing progress during 2013.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
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
Registered Investor Relations:
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.
You can view the Next News item:January 14th, 2013, Happy Creek drills 152.5 metres of 0.35% copper, 0.57 g/t rhenium at Rateria, Highland Valley, B.C.
You can view the Previous News item:November 19th, 2012, Happy Creek drills 14.8 metres of 4.0% W03 at the Fox tungsten property
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