Happy Creek drills 5 metres of 1.0% WO3 at Nightcrawler, Fox tungsten property15-12
October 29, 2015 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company) is pleased to announce preliminary drill results and an update from its 100% owned, 150 square kilometre Fox tungsten property located in the south central Cariboo, British Columbia.
Between September 5th and October 3rd, eight NQ-size diamond core drill holes totaling approximately 1,500 metres has explored a portion of the eastern end of the road-accessible Nightcrawler tungsten skarn zone. Preliminary results from the first two holes have been received and are presented here.
Drill hole F15-02 returned 5 metres of 1.0% W03 (tungsten trioxide), starting from 138 metres down-hole. The intercept is approximately 113 metres below and 25 metres to the east of the Creek prospect where outcrop and subcrop samples have yielded from 1.2% up to 6.0% W03 in grab samples over a distance of 90 metres (refer to press release dated September 17, 2015). The Creek prospect remains undefined and open in extent, and is interpreted to represent one of at least three other mineralized layers that occur further south and at higher elevation above and behind the drill site.
Drill hole F12-01 was collared on the western side of the Creek prospect and drilled at -55 degrees to the north. However, at this location the favorable skarn stratigraphic unit has been replaced by granite where the mineralized zone was expected to occur.
Additional drill results are pending.
During 2015, the Company also completed geological and soil geochemical surveys, rock sampling, ultra violet lamp prospecting at the North zone, a property-wide low-level airborne magnetic and radiometric geophysical survey, and collected a 500 kg metallurgical sample from the Ridley Creek (RC) prospect. A MSc. Geology thesis was also initiated at the University of British Columbia.
David Blann, P.Eng., President of Happy Creek states: “The Fox property has delivered another outstanding result from a road-accessible area that adds to the resource potential already identified at three zones on Deception Mountain, 4.5 km to the north. F15-02 returned 5 metres of 1.0% tungsten trioxide that is the best intercept to date from the Nightcrawler area and all the work completed this year marks another positive step forward for the project. Over the next few months we intend to prepare an initial NI43-101 resource estimate on a portion of the project and to conduct engineering studies and permitting activities. The Fox is a large scale, quality new tungsten discovery globally and we look forward to advancing this project further next year.”
About the Fox property
The Fox property hosts a tungsten and molybdenum mineral system that is 10 km by 3 km in dimension. Although most of the property is under-explored, it has returned among the highest grade tungsten drill intervals globally in a newly discovered near-surface setting. Drill results from Deception Mountain are from three zones over a distance of two kilometres. Results include 33 selected intervals averaging 2.5% W03 over 2.92 metres, and overall, 49 of 60 holes average 8.2 metres of 0.70% W03 within 26 metres of surface. Highlights of drilling in two zones include intervals such as 26 metres of 1.2% W03 and 14.8 metres of 4.0% W03, respectively. The Nightcrawler zone is an area 1.5 km by 500 metres in dimension where widely spaced drilling has returned positive results in multiple layers. Results include 2.0 metres of 0.74% W03, 5.0 metres of 0.33% W03 and 5.0 metres of 1.0% W03. All zones are open in extent.
Complete details of the Company’s drill results and maps can be found on the website at www.happycreekminerals.com, or within news releases filed on SEDAR.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
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 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 is NQ diameter and cut in half for sampling using a rock saw. Rock samples are shipped to, prepared and analyzed at Agat Laboratories in Vancouver. Samples are first analyzed by aqua regia digest and ICP/ICP-MS and for results of greater than 50 ppm W, are analyzed using a peroxide fusion digest in triplicate to obtain average tungsten (W) assay results. W is multiplied by 1.261 to obtain W03, the compound for which tungsten prices are quoted. Happy Creek inserts blanks, duplicates and certified standards into the sample stream approximately 1 every 10 samples, and Agat performs its own detailed duplicates and checks, for which all results are compared and fall within a satisfactory range.
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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