Happy Creek Minerals Ltd. Receives Magnetic Survey Results and Outlines Plans for Field work at Highland Valley
May 3, 2021, Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY) (“Happy Creek” or the “Company”) has received the final results of a high-resolution helicopter-borne magnetic survey covering the Company’s Rateria Property in the Highland Valley district of British Columbia (see Figure 1 attached to this news release and available on the Company’s website).
Mike Cathro, P.Geo, Interim President and CEO stated: “We are very excited about the results of this survey, and about getting on the ground to do follow-up as soon as the snow melts. This magnetic information is an important tool that will help the Company extend the known deposits, and refine other drill targets on this highly prospective property. Giant copper deposits at Highland Valley are known to be associated with linear breaks and lows in magnetic intensity, both of which are clearly visible on the Company’s new maps. These types of magnetic features often reflect faults, prospective felsic intrusive phases and altered rocks that may be associated porphyry copper-molybdenum deposits”.
The Company and its consultants are reviewing the new magnetic data in 3D, in the context of its extensive historical database and its own more recently acquired drilling, geology, geochemistry and induced polarization geophysical information, in order to choose areas for follow-up field work and drill targeting.
C.J. Greig and Associates Ltd., the Company’s lead geological consultant, will begin a Phase 1 program of field work in late May, including geological mapping, alteration studies, soil sampling and ground geophysics to refine targets for follow-up drilling.
The high-resolution airborne magnetic survey was flown in February 2021 under the direction of Alex Walcott of Peter E. Walcott and Associates Limited. A total of 1,660 kilometres were flown using a stinger-mounted magnetometer on an AS350-B2 helicopter, with a mean sensor height of 38 metres above the ground. Lines were oriented in an east-northeast direction at a spacing of 100 metres apart, with orthogonal tie-lines at 1000 m spacing.
About the Highland Valley Project (West Valley-Rateria Property)
The 100-percent-owned Highland Valley project, comprising the West Valley and Rateria copper properties, covers 244 square kilometres and is a quality, underexplored exploration asset in the world-class Highland Valley district. The Company’s property package adjoins the Highland Valley Copper (HVC) mine on its southern side. The mine, Canada’s largest copper producer, has been in production for nearly 60 years. Happy Creek’s Zone 1 and Zone 2 discoveries, which lie just 6.5 kilometres southeast of HVC’s Highmont pits, show laterally continuous mineralization that has been partially outlined with 28,000 metres of drilling. The Zone 1 and Zone 2 discoveries remain open in several directions. The Company also continues to generate new copper targets within this large and prospective property.
More information on the Highland Valley project and the Company’s other projects can be found on the Company’s website www.happycreekminerals.com.
The Company operates with the principles and guidelines set out for Covid-19 that are established by provincial health and safety authorities to protect workers and the communities in which the Company operates.
On behalf of the Board of Directors,
Interim President and Chief Executive Officer
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mike Cathro, P.Geo, Interim President and Chief Executive Officer
Office: Phone: (604) 662-8310
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.
Mike Cathro, P.Geo. 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 reader is cautioned that results or information from an adjacent property does not infer or indicate similar results or information will or does occur on the subject property. Historical information from the subject or adjacent property cannot not be relied upon as the Company’s QP, a term which was created and defined under NI-43-101 has not prepared nor verified the historical information.
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”, “foresee”, “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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