Happy Creek drills 4.0m of 1.36% W03 at BN zone, Fox tungsten property
October 31, 2016 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce additional drill results from the 2016 exploration program on its 100% owned Fox tungsten property, located northeast of 100 Mile House, in south central British Columbia, Canada.
Results of the first batch of holes from the BN zone were announced October 24th up to hole F16-19. Results reported here are for the final 6 holes (numbered F16-20 to F16-25) at the BN zone. A map showing the location of the various mineralized zones on the property can be found on the Company’s website at www.happycreekminerals.com. A map of the BN prospect drill holes can be found attached to this news release on the Company’s website.
Drill hole F16-20 returned 5.0 metres of 0.97% WO3 and is located approximately 70 metres east of drill hole F16-18 (3.0 metres of 1.07% WO3). Drill hole F16-22 is located approximately 65 metres southwest of drill hole F12-28 (2.90 metres of 1.20% WO3) and returned 4.0 metres of 1.36 % WO3. Drill hole F16-21 is located approximately 70 metres east of drill hole F16-17 (4.1 metres of 5.1% WO3) and returned two low grade intervals thought to be beyond a marble front. Drill hole F16-23 is located approximately 65 metres southwest of drill hole F16-17 and returned 9.5m of 0.12% WO3, including 2.0 metres of 0.30% WO3. Drill hole F16-24 is located approximately 80 metres west of drill hole F16-22 and returned 2.0 metres of 0.24% WO3 and 10.0 metres of 0.21% zinc. Drill hole F16-25 is located approximately 75.0 metres south of F16-24 and intersected a granite stock. Additional geological work is required to determine true thicknesses of the intervals.
Including the Company’s drilling performed in 2012, fourteen holes at the BN prospect have now outlined a zone that is approximately 380 metres by 170 metres in dimension in which several mineralized layers occur. Within a sub-area of approximately 200 metres by 80 metres in dimension, one of the layers appears tabular in shape and approximately 30 to 80 metres below surface from south to north, respectively. The layer is expected to daylight at surface further south. Eight holes intersected this layer with a drill width-weighted average grade of 4.7 metres of 2.68% WO3. Globally, very few tungsten mines average even 1% WO3. The high-grade BN zone remains open in extent and overall, the favorable geology and soil geochemical surveys outline a target area that is 1.5 km by 1.0 km in dimension.
David Blann, P.Eng., President and CEO of Happy Creek stated: “Holes F16-20 and F16-22 are important as they define continuity of the high-grade zone, which still remains open to further expansion. This year, results from the BN included 4.1 metres of 5.1% WO3 and others near to or over 1.0% WO3, and complement our previously drilled 14.8 metres grading 4.0% WO3. The work completed this year at the BN was a remarkable success and has improved the economic outlook of the Fox project. We look forward to conducting detailed studies of this zone with a view to adding resources to those at the Ridley Creek zone.”
Summary of all BN Zone Drill Results
- New results.
Results from the South Grid, a summary of all work completed and a plan going forward are pending.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
Ron Birch: Phone: 250-545-0383
Toll Free: 1-800-910-7711
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 news release.
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. Drill core samples are derived from ½ core cut by rock saw and shipped to, prepared and analyzed at SGS Laboratories in Burnaby, British Columbia. Drill core samples are digested and analyzed by aqua regia and ICP-MS as well as peroxide fusion and ICP-AES for percent tungsten (W), respectively. Over limit samples greater than 4% W are analyzed for tungsten by XRF. W is multiplied by 1.261 to obtain WO3 (tungsten trioxide) the compound for which tungsten prices are quoted. The Company routinely inserts blanks, certified standards and duplicate samples within the submitted drill core batches submitted for assay as part of its quality control procedures.
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”, “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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