Happy Creek expands West Valley and Rateria property, B.C.12-08
June 5, 2012 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the “Company”) announces that it has acquired additional mineral claims to expand its West Valley and Rateria properties in the Highland Valley district, south central British Columbia (B.C.), Canada.
Happy Creek has acquired an option to earn a 100% interest in the Abbot property. The Abbot property consists of 2911 hectares (29.1 square kilometres) that adjoin the south side of the Company’s West Valley property. Several weeks ago the Abbot property owner was prospecting these claims and noticed that very recent and on-going road construction, including blasting, had uncovered several zones of chalcopyrite and malachite (copper minerals). These new and encouraging copper showings occur in part within younger phases of the Guichon Batholith, believed to be Bethlehem, Skeena or Bethsaida, that host five major copper deposits to the north. The rocks appear to have variable propylitic, phyllic to argillic style alteration. This area also covers the southern extension of the Lornex fault, a key feature found at the Lornex and Valley mines to the north. The Company is pleased to have the first opportunity to evaluate these new copper showings. The West Valley and Abbot properties total approximately 124 square kilometres containing numerous copper prospects within a prolific and active mining camp.
Starting in a few weeks, the Company will conduct an airborne magnetic and radiometric geophysical survey to cover all of the Company’s West Valley and Abbot property. These surveys will provide an excellent guide for further exploration including induced polarization geophysical surveys, geological mapping and drilling.
To earn a 100% interest in the Abbot property, the Company must pay to an arm’s length vendor a total of $15,000 in cash and issue 350,000 shares by May 30th 2013. The vendor retains a 0.5% Net Smelter Return (NSR), with the Company having the right to purchase the NSR for $1,000,000.
The Company has also acquired 309 hectares (3.1 square kilometres) to the south of its Rateria property. At the south end of the Rateria property, the Sho prospect contains an area 15.0 metres by 4.1 metres in dimension that averages 1.49% copper, 8.4 g/t (grams per tonne) silver and remains open in extent. Approximately 400 metres to the south of the Sho is a northwest trending mineralized zone, over 250 metres in length and 50 to100 metres in width. The Company’s twelve surface rock samples returned from 0.20 to 2.84% copper and up to 12.8 g/t silver. Seven samples contain from 0.05 to 0.11 g/t gold. During 2011, the Company performed a three dimensional induced polarization and magnetic geophysical survey that identified the surface mineralization and shows potential to expand it. In addition, the surveys identified other targets beneath glacial till that are along the southern trend of Zone 1. The new mineral claims provide additional room around these prospects.
The Company’s 100% owned Rateria and West Valley properties adjoin Teck’s Highland Valley Copper (HVC) mine property. HVC is Canada’s largest copper producer. On the Rateria property, Happy Creek has discovered Zone 1 and Zone 2 located approximately 6.5 kilometres south-southeast of the producing Highmont mine. Zone 1 contains continuous copper mineralization for over one kilometre and remains open in extent. Drill results from Zone 1 include R10-12 with 120.0 metres of 0.38% copper (starting at surface), R11-1 with 95.0 metres of 0.67% copper, 3.6 grams per tonne (g/t) silver, R11-8 with 250.0 metres of 0.25% copper and R11-11 with 102.5 metres of 0.43% copper and 2.9 g/t silver.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
James Berard Phone: 604-687-2768 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.
You can view the Next News item:June 11th, 2012, Happy Creek drills 152.5 metres of 0.26% copper, 0.67 g/t rhenium at Rateria, Highland Valley, B.C.
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