Happy Creek drills up to 8.45% W03 (tungsten trioxide) on the Fox property, B.C.October 3, 2011 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the “Company”) is pleased to announce the first ever diamond drill results from the Ridley Creek area on its 100% owned Fox tungsten property. The Fox property is located approximately 30 kilometres east of the past producing Boss Mountain molybdenum mine and 75 kilometres northeast of 100 Mile House, in south central British Columbia, Canada. Due largely to limitation of exports from China and lack of supply, tungsten has maintained a price over $40.0 per kg (kilogram) of W03.*
First Drilling Results from Ridley Creek area of Fox property
David Blann, President and Chief Executive Officer states: “This first ever drill program at Ridley Creek has confirmed the high grade zone exposed in trenches continues in a near horizontal layer just below surface for at least 20 metres and remains open in extent. Obtaining tungsten grades in drill core of up to 8.45% has exceeded our high grade surface sample results and demonstrates the strength and potential value of this system. In addition, another new outcrop over two kilometres to the southwest has returned 3.0% W03. These drill results and continuing to find new high grade outcrops are positive steps forward for this new tungsten discovery.”
Drilling is testing one of three outcropping zones that were discovered by the Company and sampled in 2010 (Refer to News Release dated January 17, 2011). Holes F11-01 and F11-02 are located approximately 20 metres south of the mineralized zone in trench RT-1 (6.6 metres of 0.30% W03) and drilled to the north at -60 and -90 (vertical) respectively. Both holes cut a thin, near surface layer of un-mineralized biotite schist and a granite sill followed by approximately five to six metres of variably mineralized marble, calc silicate and intense skarn altered limestone. The relative depth of the higher grade intercepts along with the zone exposed in trenches suggests the true thickness to be 75% to 95% of the interval thickness and indicates a gently dipping, or sub-horizontal zone. There is thought to be excellent opportunity for tungsten mineralization to occur at surface or at a relatively shallow depth beneath un-mineralized rock over a large area of the Ridley Creek zone.
In addition to the scheelite (calcium tungstate an ore of tungsten), there is sphalerite (zinc sulphide), pyrite and pyrrhotite (iron sulphides) and other trace elements of potential interest. The high grade interval in F11-02 containing 8.45% W03 also contains 1.41% zinc, 5.8 g/t (grams per tonne) indium, 0.22 g/t gold and 2.2 g/t silver. Molybdenum, which occurs elsewhere on the property, is very low (0.36 to 14.0 parts per million) and lessens the likelihood of powellite (molybdenum-tungsten mineral) contamination that can be associated with decreased tungsten recovery during milling/processing. To date, the tungsten skarn zones on the Fox property are largely free of powellite, which is thought to be a positive characteristic. Worldwide tungsten mines generally average 0.3 to 1.0% W03 with production rates of approximately several hundred to around one thousand tonnes of ore per day.
Preliminary results from prospecting in 2011 include the discovery of another outcropping tungsten zone located approximately two kilometres to the south-southwest of drill holes F11-01 and F11- 02. Two grab samples of a mineralized skarn that is over 1.0 metres wide returned 3.0% W03 and 2.0% W03, respectively. Sample FX11-DR-9 contains 3.0% W03, 0.70% zinc, 6.81 g/t indium, 0.05 g/t gold and 1.41 g/t silver.
The Ridley Creek area is underlain by a favorable geological package with positive tungsten in soil that extends over three kilometres. Overall on the Fox property, positive values of tungsten occur in rock, soil and stream sediment in an area approximately ten kilometres by three kilometres in dimension. The property is located approximately seven kilometres from hydropower with excellent resource based infrastructure and is thought to reflect a significant new tungsten-molybdenum prospect in western Canada. Further results are pending for an additional six holes.
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. Samples are shipped by bus and analytical results are provided by AGAT Laboratories of Vancouver using both aqua regia and peroxide fusion digest followed by ICP analyses. Tungsten results are provided in percent (%) tungsten metal (W), and W03 (tungsten trioxide) equals 1.26 times contained W. *Recent tungsten prices are based on spot contracts between a supplier and purchaser for kilograms of contained W03. Quality control protocol includes splitting core using a rock saw, routine insertion of blanks, standards and duplicates in addition to extensive laboratory internal repeats and controls.
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