Happy Creek provides an update on the Fox tungsten property15-09
July 27, 2015 - Vancouver, British Columbia. Happy Creek Minerals Ltd. (TSXV: HPY) (the “Company) is pleased to provide this update on its 100% owned, 150 square kilometre Fox tungsten property located in the south central Cariboo, British Columbia.
Happy Creek has commenced additional geological work on its Fox property. Past drilling by the Company has returned grades of tungsten trioxide (W03) which are thought to be among the highest globally in any new discovery.
The Nightcrawler-Creek zone is being investigated in detail by clearing vegetation and completing work to expose as much rock as possible, then scanning the exposed rock surfaces at night with UV light to identify scheelite (tungsten mineral). This work is confirming previous indications of tungsten and has resulted in the identification of many new rock exposures containing tungsten. A previous interpretation had been that the zone consisted of boulders transported from an unknown source, however, the current work indicates this zone is a skarn outcrop that is gently-dipping in orientation and open in extent to the southeast. The zone is thought to be controlled, in part, by an embayment on the edge of the Deception stock, and quartz-monzogranite in composition.
The Creek zone consists of numerous small to very large tabular shaped blocks of subcrop and outcrop consisting of calc-silicate and tungsten skarn. They occur over a distance of approximately 100 metres along the edge of the Deception creek bank, and the zone remains open in extent. Previous sampling at the Creek zone returned 1.97% W03, 0.14% zinc and 0.20 g/t gold over a 0.4 metre thickness (News Release January 26, 2015); however, the zone’s flat -lying orientation means this sample may represent only a portion of the overall thickness.
Using a more precise GPS location device, a re-survey of two diamond drill holes conducted in 2007 indicate they were collared approximately 75 metres southwest of the Creek Zone. These holes intersected a favorable geological package of marble and calc-silicate on the order of 30 metres thickness, similar to the BN and RC zones located on Deception Mountain to the north. It is now believed that these holes were located too far to the west to intersect the higher grades in the Creek zone. Samples from the current work are at the laboratory and results are pending. New analytical results will include indium, which is known to be present but was not previously provided in historical analytical packages for this zone.
David Blann, P.Eng., President of Happy Creek states: “The Creek zone is 60 metres from an existing logging road and effectively remains untested by drilling. It looks a lot like the BN and RC zones did prior to drilling them on Deception Mountain. The geology and grades at surface are equivalent and the thickness of the favorable geology nearby appears similar. Should the Creek zone turn out to be of similar grade and thickness as the BN or RC zone, then it’s a game-changer for the project. This is an excellent target with a potentially big reward that we can very easily test with drilling.”
The Company is also pleased to announce it has arranged, through the University of British Columbia, for a MSc. Geology thesis to be completed over two years on the Fox property. Professor Dr. Lee Groat, Ph.D. P.Geo. and Dr. Thomas Chudy are supervising Cody Steven for this work and the Company will assist with the field work component, currently underway. The geological controls on mineralization will be the subject of the thesis. Deliverables will include a comprehensive geological map of the area, including altered and mineralized areas, cross sections through significant areas, electron microprobe analysis for mineral chemistry, Rietveld analysis for bulk composition data, a description of the genesis of the ore deposit, and a description of how deformation has influenced the project area. Rietveld coupled with microprobe analysis will be used to back check assay data for accuracy.
About the Fox property
The property hosts a tungsten skarn system 10 km by 3 km in dimension containing among the highest grade tungsten drill intervals returned globally in a newly discovered near-surface setting. Drill results from the Deception Mountain area are from three zones over a distance of two kilometres. Results include 33 selected intervals averaging 2.48% W03 over 2.92 metres, and overall, 49 of 60 holes average 8.2 metres of 0.70% W03 within 26 metres of surface. Highlights of drilling in two zones include intervals such as 26 metres of 1.2% W03 and 14.8 metres of 4.0% W03, respectively. All zones are open in extent.
Complete details of the Company’s drill results and maps can be found on the website at www.happycreekminerals.com, or within news releases filed on SEDAR.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Ron Birch: Phone: 250-545-0383
Toll Free: 1-800-910-7711
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.
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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