Happy Creek expands copper-moly-gold target to 1.75 kilometres at Silverboss property, B.C.12-06
April 13, 2012 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V: HPY, the “Company”) announces results from the 2011 exploration of its 100% owned Silverboss property, located approximately 85 km (kilometres) northeast of 100 Mile House in South Central British Columbia, Canada. Happy Creek has a 100% interest in 155 square km of mineral claims that surround the former Boss Mountain molybdenum mine property, owned by Xstrata, and under option to NMC Resource Corp (controlled by Don Wong Mining of South Korea). To the northwest of the property is the Woodjam-Southeast project operated by Gold Fields. The Company has optioned a property near the Silverboss to Newmont Mining who is planning to continue work in 2012. With a large land position and quality targets outlined, Happy Creek is well situated in this district among three senior mining companies.
Boss Mountain was Canada’s first molybdenum mine. The Company’s Silverboss property locally comes within 350 metres from the edge of an open pit. The Horse Trail zone extends westward from the mine’s open pits; the Dogtooth and 10 Mile Creek zones adjoin the north side of the mine property and the Gus zone lies approximately one km north of the mine property.
During 2011, 527 soil, 29 stream sediment and 7 rock samples were collected at the Silverboss property from the Horse Trail, 10 Mile Creek, and other areas of the property. New results from the Horse Trail zone have increased the target area an additional 250 metres in length with soil samples greater than 15 ppm (parts per million) molybdenum, and up to 309 ppm copper. A number of soil samples contain up to 3.14% zinc that are to the south and southwest. Currently, the Horse Trail copper-molybdenum (gold) zone is approximately 1.75 km in length and remains open in extent beneath a thin volcanic flow. In 10 Mile Creek, seven rock samples have returned values of up to 90.8 ppm molybdenum, 84.3 ppm tungsten* and 2.36 g/t (grams per tonne) silver. Rock, stream sediment and soil samples in the 10 Mile Creek area to date are thought to indicate excellent potential for a porphyry molybdenum system that is approximately 250 metres north of the Boss Mountain mine property. Soil sampling to the northwest of previous surveys at the Gus zone have returned scattered positive values of copper and up to 2.2 g/t silver. The results suggest the Gus zone is closed off to the northwest however soil containing 100 to 288 ppm copper is well defined for approximately 2.0 km in length and 1.0 km in width and remains open in extent to the southeast.
David Blann, President of Happy Creek states: “We are pleased to expand the Horse Trail copper-moly-gold zone, now about 1.75 kilometres in length. We see additional opportunity where it remains open in extent beneath a younger, thin volcanic layer that may cover the extents of this zone. With positive soil and rock samples, it is clearly part of a large scale structure trending northwestward, through and well beyond the Boss Mountain mine. This is a solid target for us and requires geophysics and drilling. In addition, the 10 Mile Creek and Gus zones on the north side of the mine are developing into attractive targets as well.”
Previous results at the Horse Trail zone indicate mineralized surface rock samples range from 0.10 to 1.69% copper, 0.108 to 0.637% molybdenum and 1.03 to 10.0 g/t gold. These rock samples and the positive soil sampling results support an underlying mineralized zone thought to be a sizeable copper-molybdenum-gold target. Mineralized quartz vein rock samples at the adjacent Dogtooth zone have returned values of 0.30 to 5.0 g/t gold and up to 53.01 g/t gold, 343.0 g/t silver in grab samples and 9.29 g/t gold, 27.3 g/t silver over 1.17 metres in chip samples. These abundant and widespread quartz veins are underlain by positive gold in soil covering an area approximately 1.6 by 1.2 km in dimension. The 10 Mile Creek area is underlain by an airborne geophysical magnetic low, similar to that occurring at the adjacent Boss Mountain mine. The magnetic low is thought to indicate an underlying intrusive rock similar to the nearby Boss Mountain stock that is related to the ore zones at the mine. In 10 Mile creek, rock samples have returned positive tungsten values, and closer to the mine property boundary, rock samples have assayed up to 0.20% molybdenum. The geology and geochemistry suggests potential for another porphyry molybdenum system to occur beneath 10 Mile Creek. The Gus zone is outlined by positive copper in soil approximately 1.0 km by 2.0 km in dimension. Outcrop is not present however boulders have returned 0.15% copper and 0.13% copper in the general area.
Updated maps of the Silverboss property will be posted to the Company’s website shortly.
Additional geochemical surveys and an induced polarization geophysical survey are planned to finalize selection of the first drill targets on the Silverboss property.
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. The 2011 analyses were performed by AGAT Laboratories of Burnaby, B.C. using a geochemical aqua regia digest and ICP-MS finish, and results for copper, silver, molybdenum, tungsten and gold are provided in PPM (parts per million or grams per tonne), with values converted to percent by dividing by 10,000. *Aqua regia digest results are partial for tungsten and molybdenum.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Toll free: 1-877-459-5507
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.
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