Happy Creek provides update on Fox and West Valley properties13-05
May 27, 2013 - Vancouver, British Columbia - Happy Creek Minerals Ltd. (TSX-V:HPY, the “Company”) is pleased to provide an update on its Fox tungsten and West Valley copper properties.
The Fox property is located approximately 75 kilometres northeast of 100 Mile House in the south central Cariboo region of British Columbia, Canada. The Company has explored the Fox from an early stage. Outcrops, trenches and drilling have returned strong tungsten grades over considerable thickness that are at or near surface, and over a distance of three kilometres. On November 19, 2012, the Company announced final drill results including 19.4 metres of 0.82% W03 (tungsten trioxide) and 24.7 metres of 0.68% W03 in the RC prospect. Drilling located a km to the north returned 5.0 metres of 0.68% W03. A kilometre to the south of the RC prospect, F12-27 returned 4.1 metres of 1.78% W03, 14.8 metres of 4.08% W03 and 24.0 metres of 0.79% W03. Tungsten prices are currently around $36/kg W03.
During 2012, approximately 900 kg of drilled and “non-ex” blasted muck was collected from the BN, RC and BK trenches. The samples were delivered to Met-Solve Laboratories Inc. of Langley, B.C. for preliminary mineralogy and metallurgy. A composite sample used for test work averaged 1.04% W03, 0.27% zinc, 0.09 g/t gold, 1.58 g/t indium and 1.19 g/t silver.
Initial testing looked at the mineralogy and response of the material to gravity and flotation at different grinding or particle sizes - fine and coarse. The best W03 recovery (83%) and zinc recovery (89%) was achieved by a coarse grind (80% passing 196 micron) using gravity followed by flotation of the tails. Met Solve Laboratories reports “The first phase of test work established that tungsten can be recovered primarily by gravity and zinc by flotation to potentially produce two separate high grade products. Results determined the preferred grind size, optimum mass yield, and a combination of gravity and flotation processes to be used for the 2nd phase test work.”
David Blann, President and CEO of Happy Creek states: “We are learning more about the mineralogy and geology of the Fox tungsten skarn and the initial metallurgical characteristics are positive. More definitive results from phase 2 work is expected in about 10 weeks. We now have our 2013 exploration drilling permit in hand and anticipate advancing this new, near-surface and high-grade tungsten discovery”.
The Company also reports that title of the Abbott property has been transferred 100% into the Company. Refer to news release dated June 6, 2012. The Abbott property adjoins the Company’s West Valley property which adjoins Tecks Highland Valley copper property. During 2012 the Company completed an airborne magnetic and spectral survey on the West Valley and Abbott property, along with prospecting of newly constructed roads. Several new copper showings and historical trenches were located and sampled. Samples consist of Nicola Group volcanic and Guichon Batholith intrusive rocks. K-feldspar, quartz, epidote, sericite and kaolinite/clay occur with chalcopyrite-bornite copper minerals. The presence of these alteration and copper minerals are thought to be positive vectors for porphyry copper deposits. Sample 3593627 (1.5% copper) consists of epidote and magnetite rich volcanic rocks that appear similar to that found at the Craigmont mine, 15 kilometres to the southeast.
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On the Abbott property, the new copper showings together with a favorable geological setting and airborne geophysical results are positive additions to the Company’s property in the Highland Valley area. Several priority areas are apparent and geological mapping and prospecting has commenced to assist in outlining future drill targets. As the Abbott property is now 100% owned by Happy Creek Minerals Ltd., it will be included within the West Valley property, totaling approximately 124 square kilometres in area.
On behalf of the Board of Directors,
“David E Blann”
David E Blann, P.Eng.
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Registered Investor Relations:
James Berard Phone: 604-687-2768 Toll free: 1-877-459-5507
David Blann, P.Eng., is a Qualified Person as defined under Canadian NI43-101 regulations and has reviewed and approved the technical content of this press release. Rock samples are shipped to Agat Laboratories in Vancouver, B.C and results provided by the ICP/ ICP-MS analytical method. Copper values provided in parts per million are divided by 10,000 to produce % copper values.
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.
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