Happy Creek drills 22.0 metres of 0.76% WO3 near surface at Fox tungsten property13-10
September 9, 2013 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce preliminary results from an additional two drill holes on its 100% owned, 165 square kilometre Fox tungsten property. The property is well situated approximately 25 km east of the past producing Boss mnt mine, and 75 km northeast of the town of 100 Mile House in the south-central Cariboo region of British Columbia, Canada.
The Company has explored the Fox property from an early stage returning positive values of tungsten occurring in rock, stream sediment, soil and drill core in a 10 km by 3 km area. Happy Creek first drilled the Nightcrawler zone in 2007 with widely spaced holes and outlined positive tungsten values in multiple horizons over an area 1.5 km by 500 metres in dimension. Four kilometres to the north, four outcropping mineralized zones were located and named from south to north the 708, BN, RC (Ridley Creek) and BK prospects. These prospects are hosted by a favorable target horizon (calc-silicate or skarn cut by granite sills) spanning a distance of three kilometres and a lateral extent thought to be greater than one kilometre.
At the RC prospect, drilling is continuing to outline a tungsten deposit that occurs from surface and dips shallowly westward. Drill holes F13-02 and F13-03 are step-out holes located approximately 40.0 metres west of F12-17 (20 metres of 0.63% tungsten trioxide (W03). The holes were collared adjacent the site of F13-01 (2.7 metres of 2.0% tungsten trioxide- see News release August 26, 2013), which was lost prior to cutting the full width of the favorable horizon.
F13-02 (-50 degrees to the west) returned 1.4 metres of 2.21% tungsten trioxide starting at a down hole depth of 40.4 metres, or approximately 28 metres below surface. The hole then entered a granite sill and, unfortunately similar to hole F13-01, was ended prior to reaching the other side where additional mineralized zones were expected.
F13-03 (vertical) cut the full thickness of the favorable mineralized horizon, returning 22.0 metres of 0.76% tungsten trioxide starting at 20.0 metres and is near true thickness. The favorable geology was intersected from surface, with trace tungsten beginning from 6.0 metres. Above a granite sill, an upper zone returned 3.27 metres of 2.12% tungsten trioxide, 0.32% zinc, 2.0 g/t indium, 1.73 g/t silver and 0.11 g/t gold that is similar to F13-01 which was lost at this depth. Beneath the granite sill a second higher grade interval contains 5.0 metres of 1.86% tungsten trioxide, 0.27% zinc, 1.85 g/t silver, 0.09 g/t gold and 1.63 g/t indium.
David Blann, President and CEO of Happy Creek states: “Drilling continues to expand the mineralized zone and we see a trend with solid continuity and top-tier tungsten grade and thickness that is close to surface. The zone is open in extent and thought to have excellent potential to continue. The RC prospect is just one of four known outcropping zones over a distance of three kilometres and we have really just begun to explore this exciting new, high grade tungsten discovery.”
A review of drill results from the Fox property to date identified 25 intervals averaging 3.2 metres and 2.36 % tungsten trioxide that comprise a portion of the favourable horizon thickness. Drill highlights from 2011 and 2012 at the RC prospect include 7.35 metres of 1.22% tungsten trioxide, 19.4 metres of 0.82% tungsten trioxide, 11.0 metres of 0.80% tungsten trioxide, 20.0 metres of 0.63% tungsten trioxide and 24.7 metres of 0.68% tungsten trioxide. One kilometer south of the RC prospect, the BN prospect returned three intervals in hole F12-27: 4.1 metres of 1.78% tungsten trioxide, 14.8 metres of 4.0% tungsten trioxide and 24.0 metres of 0.79% tungsten trioxide including 5.8 metres of 2.01% tungsten trioxide. One kilometre north of the RC prospect, drilling at the BK prospect returned 5.0 metres of 0.68% tungsten trioxide. (Refer to Press Release dated November 19, 2012).
A grade of 2.4% tungsten trioxide contains 24.0 kg W03 per tonne of rock, and recent tungsten prices are around US$34.0/kg W03 in concentrates and US$42.0/kg W03 as APT (ammonium paratungstate) (1).
Tungsten is regarded as a strategic and critical metal for industrialized countries. Over 50% is used in cemented tungsten carbide to make cutting tools for the construction, metalworking, mining, oil and gas drilling industries. The balance is used for heavy alloy in applications requiring high temperature stability and density in electronic components, super-alloys, wear-resistant alloys and chemicals for various applications. Tungsten is being used and evaluated as a more effective radiation shield than lead, requiring 1/10th the thickness of lead (2). Zinc and indium also occur with tungsten at the Fox property. Indium is a rare metal used in liquid crystal applications such as touch screens and prices have risen to over US$550/kg ($5.50/gram).
The proximity to infrastructure, near surface setting, large scale and presence of high grade tungsten are thought to make the Fox property a unique and attractive new discovery in the global tungsten sector.
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:
James Berard Phone: 604-687-2768 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. Happy Creek employs a strong Quality Assurance and Control system for its drilling programs. Samples are cut from NQ size drill core using a rock saw and a blank, standard or duplicate are inserted into the sample string every tenth sample. Samples are sealed and shipped to Agat Laboratories in Burnaby, B.C. Samples are prepared and analyzed first by aqua regia digest and ICP + ICP-MS finish to give zinc, gold and silver values in parts per million (ppm) or grams per tonne (g/t). Zinc values are divided by 10,000 to give zinc %. Samples that return greater than 50 ppm W (tungsten) are then re-tested in triplicate using a peroxide fusion digestion and ICP-finish and are averaged to provide a preliminary assay result. Results of greater than 1.0% W are checked by an XRF assay and that result is averaged with the triplicate peroxide fusion to give a final result. Tungsten assay results are around +/- 5-10% of the final average and considered reasonable for a nugget effect inherent in coarse grained scheelite/tungsten mineralization. Tungsten (W) assays are converted to W03 with a multiplication factor of 1.261. W03 is the compound used for pricing/ sales of tungsten concentrate or APT. (1)Tungsten prices from Metals Pages September 2013. (2) www.thirdwave.de/3w/tech/armor/tungstenrayshield.pdf.
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.
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