Happy Creek drills 152.5 metres of 0.35% copper, 0.57 g/t rhenium at Rateria, Highland Valley, B.C.13-01
January 14, 2013 - Vancouver, British Columbia — Happy Creek Minerals Ltd. (TSX-V:HPY, the “Company”) is pleased to announce drill results from its 100% owned Rateria property, located in the Highland Valley district, south central British Columbia (B.C.), Canada. Teck’s Highland Valley Copper (HVC) mine is Canada’s largest copper producer. On the Rateria property, Happy Creek has discovered two new copper zones located approximately 6.5 kilometres south-southeast of a producing open pit.
In late November, 2012, the Company drilled two holes in Zone 2. R12-01 (090/-60 degrees) is located 60 metres north of R11-36 (152.5 metres of 0.26% copper, 0.67 g/t rhenium). R12-02 (090/-60 degrees) is located approximately 380 metres south of R12-01 and 150 metres west of R08-05 (126.0 metres of 0.46% copper, 0.10 g/t gold).
New drill results from Zone 2 include R12-01 with 92.8 metres of 0.30% copper, 0.15 g/t gold starting from bedrock surface and the zone remains open in extent. R12-02 returned 152.5 metres of 0.35% copper and 0.57 g/t rhenium, including 32.5 metres of 0.91% copper, 0.010 % molybdenum, 4.0 g/t silver, 0.11 g/t gold and 1.83 g/t rhenium.
2012 Drilling Summary from Zone 2
David Blann, President and CEO of Happy Creek states: “Zone 2 continues to expand with positive results that are near surface and located about 6.5 kilometres from a producing open pit. The strong rhenium enrichment and gold values could increase the potential value, and metallurgical tests are planned. We are pleased with the new results from this zone and believe it is an important addition to the Company’s assets.”
Beyond the core intervals shown in the table above, F12-01 also returned 2.5 metres containing 0.029% molybdenum and 3.0 g/t rhenium starting at 192.5 metres. Other samples returned 0.10 to 0.12% copper near the end of the hole at 237.5 metres where the final sample contains 0.019% molybdenum. With mineralization occurring in the first and last sample, the width of the zone remains open in extent in several directions.
Higher grade intervals in R12-02 include 2.5 metres containing 0.93% copper, 1.03 g/t gold, 5.5 g/t silver, 0.024% molybdenum and 3.38 g/t rhenium. Overall, F12-02 contains 257.3 metres of 0.23% copper starting at 70.0 metres. Approximately four hundred metres to the northeast, drill hole R10-7 intersected 40.0 metres grading 0.32% copper, 0.12 g/t gold and 0.12 g/t rhenium near the end of the hole.
Drilling at Zone 2 has returned elevated to substantial copper, molybdenum, gold, silver and rhenium values within an area approximately 1.0 kilometre by 600 metres in dimension and to a depth of at least 350 metres, and remains undefined and open in extent. The mineralized zone is comprised of predominantly bornite, chalcocite, chalcopyrite (copper sulphides) and variable concentrations of molybdenite that are associated with k-feldspar and quartz-sericite alteration. Pyrite (iron sulphide) content is very low.
Rhenium occurs with molybdenum in porphyry copper deposits and is a rare metal used to strengthen stainless steel for very high temperature conditions and prices range from around US$4,000 to $9,000 per kilogram. Drill core intervals in Zone 2 contain relatively high rhenium enrichment in the molybdenite with calculated values ranging from around 4 to 10 kg Re per tonne molybdenite (refer to news release June 11, 2012).
Plans for Zone 2 include drilling to define and expand the mineralized zone, and metallurgical work. Mineralology and metallurgy provide valuable information on the nature and character of the mineralization and its potential to produce a commercially salable concentrate product. Results of metallurgical work performed on Zone 1 are pending.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Registered Investor Relations:
Toll free: 1-877-459-5507
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. Analyses are performed by AGAT Laboratories of Burnaby, B.C. using a geochemical aqua regia digest and ICP+ICP-MS finish, and results for copper, silver, gold, molybdenum and rhenium are provided in ppm (parts per million or grams per tonne), with values converted to percent by dividing by 10,000. An aqua regia digest may be partial for molybdenum. Samples greater than 10,000 ppm copper are automatically re-run with a larger pulp sample, aqua regia digest and Atomic Absorption Spectrophotometer (AA) finish with results provided in % (percent) copper. Quality control protocol includes on-site pick up of samples by the laboratory, insertion of either a blank, standard or duplicate every 10th sample, in addition to the laboratory internal controls.
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:February 28th, 2013, Happy Creek's Zone 1 returns 39.6% copper, 398.8 g/t silver in concentrate at Rateria Property, B.C.
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