Happy Creek completes Geophysical Survey at Silverboss property, B.C.13-03
April 3, 2013 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the “Company”) announces results from the 2012 exploration of its 100% owned Silverboss property, located approximately 85 km (kilometres) northeast of 100 Mile House in South Central British Columbia, Canada. Happy Creek has a 100% interest in 155 square km of mineral claims that surround the former Boss Mountain molybdenum mine property, owned by Xstrata and under option to NMC Resource Corp. Boss Mountain was Canada’s first primary molybdenum mine. To the northwest and north of the Silverboss property, Gold Fields and Newmont Mining are exploring for copper-molybdenum-gold bulk tonnage deposits.
The Silverboss property is underlain by similar geology to that being explored by the major companies to the north, and also locally comes within 350 metres from the edge of an open pit of the Boss Mountain mine. On the Silverboss, the Company has performed systematic surface soil, silt and rock sampling that has outlined several prospective new targets. The Silverboss Shaft area has returned values of 2.52 percent copper, 6.21 g/t gold, 295 g/t silver and 6.76 g/t indium in grab samples. The Horse Trail zone extends westward from the Boss Mnt mine’s open pits and contains values in rock samples ranging from around 0.10 to 1.69% copper, 0.108 to 0.637% molybdenum and 1.03 to 10.0 g/t gold. These positive results have outlined at least two targets thought to have potential for bulk tonnage copper-molybdenum-gold deposits.
During 2012, Happy Creek conducted a three dimensional induced polarization (3D IP) and magnetic geophysical survey covering the Silverboss Shaft and Horse Trail prospects. Work was performed by SJ Geophysics of Vancouver, B.C.
At the Silverboss Shaft prospect, the 3DIP survey has produced a clear and positive response of 9 to over 13 milliseconds chargeability that extends to over 250 metres below surface. This positive response extends north and eastward, forming another zone approximately 350 metres by 400 metres in dimension that remains open in extent. These encouraging geophysical targets are overlain at surface with soil and rock samples containing positive values of copper and gold and thought to represent quality targets ready for drill testing.
At the Horse Trail zone, the 3D IP survey has returned a moderate to very strong response that extends westward from the open pits of the past-producing Boss Mountain mine. Importantly, chargeability values of greater than 40 milliseconds occur near the edge of the property and decrease gradually westward for up to one kilometre distance. At surface, this positive geophysical expression is overlain by positive values of copper, molybdenum, gold and silver occur in quartz veins and soil samples. The geophysical results combined with the positive surface samples and geology are thought to represent a quality bulk tonnage exploration target that is adjacent a significant past-producer and is ready for drill testing.
The new geophysical surveys have confirmed potential for large scale copper, moly, gold and silver mineralized zones to occur in two areas that are in proximity to the historical Boss Mountain molybdenum mine. Several other large scale copper geochemical targets remain to be surveyed by geophysical methods and also remain untested by drilling.
Through systematic surface exploration, the Company has developed new exploration targets that are located between an important past-producing mine and two major companies exploring for copper-molybdenum-gold deposits. Further exploration on the Silverboss property is planned to include additional geophysical surveys and a drill program.
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
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You can view the Next News item:May 16th, 2013, Happy Creek returns up to 50.3 g/t gold and 4,496 g/t silver from Silver Dollar
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