Happy Creek extends Zone 1 to a kilometre with 47.5 metres of 0.42% copperNovember 28, 2011 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the “Company”) announces additional drill results from its on-going exploration of the Rateria property, Highland Valley district, British Columbia (B.C.), Canada.
The Company has a 100% interest in approximately 145 square kilometres of mineral claims that adjoin Teck’s Highland Valley Copper (HVC) mine property, Canada’s largest copper producer, located in south central B.C. Over 1.8 billion tonnes of resources in five deposits have been discovered in the Highland Valley district. HVC is currently mining material with an average grade of around 0.26% copper.
Happy Creek has discovered Zone 1 and Zone 2 on the Rateria property, located approximately 6.5 kilometres south-southeast of Teck’s Highmont mine, and within similar geology as the deposits currently in production to the north. Recent drilling highlights from within Zone 1 include R10-12 with120.0 metres of 0.38% copper (starting at surface), R11-1 with 95.0 metres of 0.67% copper, 3.6 g/t silver, R11-8 with 250.0 metres of 0.25% copper and R11-11 with 102.5 metres of 0.43% copper.
New results from testing the southern extent of Zone 1 with drill hole R11-13 are 47.5 metres of 0.42% copper, 2.3 g/t (grams per tonne) silver within an overall interval of 82.5 metres containing 0.26% copper and 1.0 g/t silver, starting at 282.5 metres. R11-13 has extended copper mineralization by 125 metres to the south of R11-10 (Refer to News Release dated September 19th, 2011). Zone 1 is now approximately one kilometre in length and remains open in extent. As in R11-10, significant copper grade can occur beneath previous shallow holes and indicates potential for expanding the size of Zone 1 at depth.
David Blann, President and CEO of Happy Creek states: “R11-13 has extended Zone 1 to one kilometre with continuous copper mineralization and it remains open in extent in several directions. In addition to expanding the limits of Zone 1, continuous drill testing of other targets is an exciting part of our exploration. Having the right geology in a prolific mining district has led us to the discovery of two significant new copper zones and we look forward to testing other quality targets that we have identified.”
Exploration drill hole R11-14 has intersected 2.5 metres of 3.45% copper, 33.6 g/t silver within 30.0 metres containing 0.38% copper, 3.3 g/t silver starting at 27.5 metres depth. Other sections of the drill core contain geochemically positive copper values of exploration interest. R11-14 is believed to have cut the southern extension of Teck’s Yubet prospect, located approximately 800 metres west of Zone 1.
The geology of the area in and around Zone 1 consists of strong northerly trending fault structures that are parallel to the Lornex fault. Other cross-cutting faults occur and are currently poorly defined. These faults are thought to be important controls to the known zones, and a key to their expansion. Zone 1 occurs within Bethsaida, Skeena or Bethlehem phases of the Guichon batholith and is cut by tan colored feldspar porphyry, felsic and mafic dikes. Variable propylitic, potassic and phyllic (intermediate argillic) alteration with associated chalcocite, bornite and chalcopyrite (copper sulphides) occur to over 400 metres below surface. A regional low magnetic response that is evident for over 10 kilometres on the property may reflect positive hydrothermal alteration of a significant mineral system. This geological setting shares similarities to the deposits currently in production to the north and is thought to reflect excellent potential for additional deposits to be found.
Zone 2 is located approximately 2 kilometres to the northeast of Zone 1 and widely spaced drill holes have identified a 1.5 kilometre long and 600 metre wide trend that remains undefined and open in extent. Results include 126.0 metres of 0.46% copper, 0.008% molybdenum and 0.10 g/t gold and 113.0 metres of 0.33% copper and 0.05 g/t gold. Other results of interest include 6.4 metres of 1.65% copper, 0.017% molybdenum, 0.03 g/t gold, 9.4 g/t silver and 5.2 g/t rhenium and 38.2 metres of 0.11% copper, 0.029% molybdenum 0.03 g/t gold and 2.14 g/t rhenium. R09-06 contains 1.5 metres of 0.27% copper, 0.239% molybdenum, 0.07 g/t gold and 19.37 g/t rhenium.
Rhenium is a rare metal used in manufacturing high temperature and strength steel with prices ranging from around $5.00 to $10.00 per gram. It occurs within porphyry copper-molybdenum deposits around the world and typically reports to a molybdenum concentrate for extraction at a smelter. The Company is the first in Highland Valley to publish rhenium results from drill core. Zone 2 rhenium concentrations are considered significant and indicate a porphyry copper style system.
In summary, additional drilling in Zone 1 is being directed to test potential extensions of what is already a significant new copper zone in the Highland Valley camp. The Company is also continuing to aggressively test other prospective areas, including Zone 2, that occur within the 100% owned Rateria 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. Analyses are performed by AGAT Laboratories of Burnaby, B.C. using a geochemical aqua regia digest and ICP-MS finish, and results for copper, silver, molybdenum and rhenium are provided in PPM (parts per million or grams per tonne), with values converted to percent by dividing by 10,000. Samples greater than 5,000 ppm copper are automatically re-run with a larger pulp sample, aqua regia digest and Atomic Absorption Spectrophotometer (AA) finish. AA results are provided in % (percent) copper. Quality control protocol includes on-site pick up of samples by the laboratory, routine insertion of blanks, standards and duplicates in addition to the laboratory internal controls.
FOR FURTHER INFORMATION PLEASE CONTACT:
David E. Blann, President and 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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