Happy Creek finds new tungsten zone on Fox property
June 6th, 2016 – Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company”) is pleased to announce that exploration has commenced on the 100% owned Fox tungsten property and a new zone of at-surface tungsten mineralization has been discovered at the South Grid.
Ultra Violet lamping of rocks has revealed the presence of scheelite (tungsten mineral) occur within recent logging clear-cuts and roads. Numerous boulders, sub-crop and poorly exposed outcrop throughout a 1.25km by 500m area were found to contain positive and locally high concentrations of scheelite within calc silicate rocks.
The area is largely covered by 1-2 metres of glacial till mixed with sub-crop boulders, and small bedrock exposures occur mainly along portions of road cuts and topographic ridges or bench crests. The South Grid target is outlined by tungsten values in soil similar to or higher than those found at the high grade BN and Ridley Creek zones and was identified in late 2015, with sample results received too late in the year to conduct surface work. The geology and presence of widespread scheelite in rocks and tungsten in soil confirm the South Grid target is underlain by an at-surface tungsten prospect of considerable size. Photos of the area may be viewed in the news release posted on the Company’s website, and initial sample results are pending. Specific locations for trench and drill sites are being reviewed.
The South Grid is located 8 km south of the Ridley Creek zone, for which on March 15th 2016, the Company announced an initial NI-43-101 resource. It holds a 45-degree pit constrained 505,000 tonnes indicated at 0.468% WO3 and 280,000 tonnes inferred at 0.456% WO3 at a 0.10% WO3 cut-off with a 4.1: 1 strip ratio. Within this are 240,000 tonnes indicated at 0.74% W03 and 129,000 tonnes at 0.67% W03 inferred at a cut-off of 0.40% W03. There is a larger inventory identified within the known boundaries, and the deposit remains open to further expansion.
In addition to the Ridley Creek zone, there are several other exploration targets on the property thought to hold potential for additional high-grade resources which have not been drilled since 2012, or at all. The objective of further work is to increase the project resource base with multiple near-surface, high grade deposits to allow greater flexibility for planning potential development.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
Ron Birch: Phone: 250-545-0383
Toll Free: 1-800-910-7711
Fox South Grid May 25-June 1 2016
|Coarse grained scheelite in calc silicate under UV light||Mineralized calc silicate/marble in road cut|
|Mineralized calc silicate/ marble outcrop in road-cut||Scheelite in calc silicate under UV light|
|Access road at north end of South Grid||Outcrop of mineralized calc silicate with moss removed|
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 news 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.
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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