Happy Creek expands Goldfinch zone with samples over 10 g/t gold in soil on the Silver Dollar property16-02
January 27, 2016 – Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company) is providing an update on its 100% owned Silver Dollar property, located in the Camborne mining camp, approximately 45 kilometres southeast of Revelstoke, B.C.
In September 2015, the Company collected 203 soil samples from the Goldfinch claim. The samples were collected 25 metres apart on east-west oriented lines that are 50 metres apart. Samples were prepared and analyzed for gold and multi-elements by two methods at Act Labs of Kamloops, B.C. For one method, a 0.5-gram sample was digested by aqua regia then ICP/MS analyses performed with results reported in parts per billion (ppb). All samples were also analyzed for gold by Fire Assay and Neutron Activation (INNA) using a 10-gram pulp sample.
For the INNA analyses, samples range from 1.1- 2550 ppb (2.55 g/t) gold, and 46 samples contain greater than 100 ppb gold and 29 contain over 200 ppb gold. For the 0.5 gram ICP/MS method, samples range from 0.5 to greater than10,000 ppb (10 g/t) gold, and 21 samples contain greater than 100 ppb gold, and eight contain over 200 ppb gold. Comparative analyses of the two methods and analytical duplicates suggests some gold is relatively coarse grained and that a nugget effect exists. Historical reports from the Goldfinch indicates visible gold occurs in drill core with samples up to 0.85 metres of 141.58 g/t gold, and wider intervals of 42 metres of 2.5 g/t gold (1). Interpretation suggests the larger sample size and Fire Assay with INNA results produce more consistent, reliable results. A range of gold values in soil between 37 and 75 ppb are considered moderately positive and those over 75 ppb, strongly positive.
Moderate to strongly positive gold values occur in a northwest-southeast trend that extends over 500 metres beyond the historical Goldfinch workings. The zone is thought to be part of the main regional scale Camborne structure connecting the Goldfinch and Menhinick Creek adits, a distance of approximately one kilometre. On the southern-most grid line, nine of 10 continuous samples were over 111 ppb gold and up 2,500 ppb gold. This corresponds to a zone, approximately 225 metres in width, that remains open to the south and east. Two adjacent lines to the north contain similar values up to 868 ppb gold over 175 and 100 metre widths, respectively.
A second zone containing moderately positive values up to 625 ppb gold is from 100 to 200 metres in width and extends over a distance of 350 metres on the west side of the grid. This zone remains open in extent to the west and south.
For both of these geochemical zones, evidence of historical drilling or other work was not observed.
David Blann, P.Eng., President states: “The Goldfinch zone is becoming an attractive, large scale gold target. With historical drill results including 42 metres of 2.5 g/t gold starting at surface and the wide, strongly positive gold in soil results, there is opportunity for both high gold grades and large tonnage in a near-surface setting”.
Compilation and geological work is continuing to interpret the economic potential of the property.
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. Analytical results were performed by Act Labs of Kamloops, B.C. Soil Samples were subject to Aqua regia digest followed by ICP-MS analyses, as well as a 10 gram Fire Assay with Neutron Activation analyses for gold. (1) Historical results are published within B.C. Government Assessment Reports 9137, 16753, 17929, 31445 and Government of B.C. Production Report 082KNW076.
Historical data for this prospect was performed under supervision of a Professional Engineer and believed to be of good quality, with drill core and underground sampling results from fire assay analyses by B.C. Certified Assayers. However, under NI43-101 policy it has not been verified by a QP, and as such cannot be relied upon and must be treated as historical in nature.
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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