Happy Creek Mobilizes Drill to Fox Tungsten Project, British Columbia
September 09, 2021, Vancouver, British Columbia – Happy Creek Minerals Ltd. (TSX-V: HPY) (“Happy Creek” or the “Company”) is pleased to report that a skid-mounted diamond drill rig has been mobilized to the Company’s wholly owned Fox Tungsten Project (“Fox Tungsten”) in southern British Columbia.
At Fox Tungsten, a minimum of 2000 m of drilling will test promising targets that are accessible from logging roads and short spurs in the Nightcrawler - Creek area. Due to a shortage of drill contractors, particularly with experience in heli-supported drilling, a previously announced plan to drill gold-silver targets on the nearby Silverboss project has been postponed to 2022.
Michael Cathro, Happy Creek’s Interim President and CEO stated: “Fox Tungsten is the Company’s most advanced project and Management believes the Nightcrawler – Creek area is one of the best areas to add high-grade tonnes at shallow depth.”
The twin goals of the 2021 drill program are to expand the area of known mineralization and to tighten-up the drill spacing to allow for a maiden resource estimate in the Nightcrawler – Creek zone. This would add to the Fox Tungsten project’s existing resource estimate established on three deposits, which are located five kilometres to the north (see April 12, 2018 report entitled “NI 43-101 Resource Update for the RC and BN Zones and Maiden Resource Estimate for the BK Zone of the Fox Tungsten Project British Columbia, by Pierre Desautels, P. Geo, AGP Mining Consultants Inc. and Paul Berndt, FAusIMM) available on the Company’s website or posted under the Company’s profile on www.sedar.com.
The drill program will begin in the Creek East area and will include step-outs around high-grade mineralization discovered in 2020 drillhole F20-06. That hole intersected 3.38 m grading 1.08% WO3 (Tungsten Trioxide) at a vertical depth of 110 m and is open for several hundred metres in all directions. Another important consideration is that the tungsten is present within an 80 m-thick package of calc-silicate (skarn) host rocks, one of the thickest horizons found at Fox Tungsten to date. The drilling will initially focus on areas north of hole 20-06, where the tungsten mineralization is predicted to come closer to surface, and where 2021 geological work has discovered boulders and sub-cropping calc-silicate host rock containing scheelite, the primary tungsten mineral at Fox Tungsten.
Drilling will also step-out on other targets further west in the Nightcrawler – Creek target area, where previous drilling has encountered good grades and/or thicker zones of tungsten mineralization.
The drill program is expected to be completed in October with assay results expected in early December.
About Happy Creek Minerals Ltd.
Happy Creek is focused on making new discoveries and building resources in proximity to infrastructure on the Company’s 100%-owned portfolio of diversified metals projects in British Columbia. The Company’s Management, Board of Directors and Technical Advisors have solid expertise and depth in the mineral resource sector and capital markets.
About Fox Tungsten
Fox Tungsten is a high-grade critical mineral project that Happy Creek has advanced from initial discovery to the drill definition stage. Three deposits (BN, RC and BK) have a resource estimate of 582,400 tonnes grading 0.826% WO3 (Indicated) and 565,400 tonnes grading 1.231% WO3 (Inferred). These resource grades are among the highest reported worldwide, and the deposits are open for expansion within a robust tungsten mineral system that is 12 by 5 kilometres in size.
Tungsten is a rare, heavy and hard element used mainly in cemented tungsten carbide and high-speed alloy cutting tools and other high-tech applications. Tungsten has been declared a “critical mineral” by governments in Canada, USA and EU. Currently 85% of world production comes from China.
More information on the Company’s projects can be found on the website at 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:
Michael 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.
Michael 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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